EU Approves $3.2 Billion in German Hydrogen Pipeline Aid

Germany is targeting more than 9,700 km (6,000 miles) of hydrogen pipelines, with existing natural gas transmission making up 60% of the network to power heavy industry sites that cannot switch to electricity.

Carlyle Forms New Mediterranean Oil and Gas Firm in $945 Million Energean Deal

Carlyle will form a new Mediterranean-focused oil and gas company led by former BP CEO Tony Hayward after the private equity fund agreed to acquire Energean's assets in Egypt, Italy and Croatia for up to $945 million.

Global News June 2024

Latest industry developments from around the world!

Germany's Wintershall Dea Makes Gas Condensate Discovery in North Sea

Germany's Wintershall Dea and its Norwegian partners Petoro and DNO have made a gas condensate discovery at the Cuvette prospect in the northern North Sea, the operator said in a statement on Wednesday.

Air Liquide and Dunkerque LNG's CO2 Project Gets EU Support

The D'Artagnan project will include an Air Liquide pipeline to transport CO2 from capture sites to a new terminal in the port of Dunkirk, where it will be liquefied and shipped to permanent storage sites in the North Sea.

Meld Energy Gets Approval for $317 Million Hydrogen Facility in Hull

Meld Energy has received approval from the East Riding of Yorkshire Council to build a $317 million, 100-megawatt green hydrogen production facility at Saltend in Hull.

Equinor, GRTgaz Partner for CO2 Transport via Norway-Bound Pipeline

Equinor and French gas grid operator GRTgaz have signed a deal for a carbon dioxide (CO2) transport system for captured CO2 from industrial emitters in France to storage offshore Norway, the Norwegian company said on Monday.

Uniper Plans Steps to Boost Hydrogen Port at Wilhelmshaven

German utility Uniper will focus on talks with a big customer and early steps to develop hydrogen storage facilities this year after winning EU backing for two clean energy projects at the North Sea port of Wilhelmshaven, its operations head said.

Eni Completes Sale of 10% Stake in Saipem

Eni SpA has completed the divestment of a 10% stake in an oilfield services company Saipem.

Ukraine Secures First LNG Supply Deal with U.S. Firm Venture Global Amid Energy Crisis

Ukraine signed on Thursday its first LNG deal with a U.S. company to help to avert an energy supply crunch amid a war with its bigger neighbor Russia.

Noble Corp. to Acquire Diamond Offshore for $1.6 Billion to Bolster Fleet

Offshore rig contractor Noble said on Monday it would buy smaller rival Diamond Offshore Drilling in a cash-and-stock deal valued at $1.59 billion, the latest in a series of buyouts in a sector undergoing massive consolidation.

Glencore Wins Tender to Supply Crude to UK's Lindsey Oil Refinery

Global commodities trader Glencore has won a tender to supply crude oil to Prax's 113,000-barrel per day Lindsey oil refinery in Britain, replacing rival trader Trafigura, sources told Reuters.

Czech Republic Set to Ditch Russian Oil by Mid-2025, PM Announces Pipeline Upgrade

The Czech Republic will end its use of Russian oil no later than the first half of 2025 as state pipeline firm MERO completes a capacity upgrade on the Transalpine Pipeline, Prime Minister Petr Fiala said on Tuesday.

Russia's May Pipeline Gas Exports to Europe Surge 39%, Data Shows

Russian energy giant Gazprom's average daily natural gas supplies to Europe in May rose by 7.3% from April and 39% year on year, Reuters calculations showed on Monday.

EU Ramps Up Support for CO2 Pipelines, Decarbonization Efforts

The EU is increasing its support for CO2 transport and storage projects with nearly $522 million allocated to initiatives in France, the Netherlands, Poland, and Norway. This funding is part of the EU’s $6.3 billion Connecting Europe Facility fund aimed at accelerating decarbonization efforts and enhancing CO2 pipeline infrastructure.

Italy, Germany, and Austria Sign Cooperation Deal for Southern Hydrogen Link

Italy, Germany and Austria have signed an agreement to cooperate on the development of a network to transport hydrogen from the southern Mediterranean to northern Europe, the energy ministries of the three countries said on Thursday.

Shell, Exxon Close to Selling North Sea Assets to Viaro Energy for $500 Million: Sources

Shell and ExxonMobil are nearing an agreement to sell their jointly-owned gas fields in the southern North Sea to independent British producer Viaro Energy, three industry and banking sources said.

German Cabinet Approves Bill to Fast-Track Hydrogen Power Expansion

Germany's cabinet approved on Wednesday a bill to fast-track the construction of hydrogen infrastructure, import and production facilities as Berlin bets on the fuel to help decarbonize Europe's biggest economy, government sources said.

Italy Seeks Deal to Expedite Hydrogen Pipeline to Austria and Germany, Sources Say

Italy is aiming to sign a letter of intent with Germany and Austria to speed up development of a more than $4.35 billion southern pipeline for supplying hydrogen to central Europe, sources close to the matter told Reuters on Tuesday.

Germany, Czech Republic Push EU To Eliminate Russian Oil, Gas Imports

Moscow has slashed gas exports to Europe since invading Ukraine in 2022, and an undersea explosion shut down the Nord Stream pipeline from former top gas supplier Russia to Germany. The EU has rapidly replaced Russian fuel with renewable energy and more gas from other suppliers. But the bloc still got 15% of its gas from Russia last year.

EU Countries Approve Methane Emissions Limits on European Oil and Gas Imports

From 2030, the EU will impose "maximum methane intensity values" on fossil fuels placed on the European market. The European Commission will design the exact methane limits by that date.

Italy's Gas Pipeline Renaissance: A Strategic Move Towards Energy Dominance

Italy plans to actively develop its gas pipelines’ network in years to come with the intention of serving as the biggest gas hub in Europe and the entire Mediterranean region.

Polish, Russian Pipeline Operators Agree On Solution To Keep Oil Flowing To Germany

PERN, Russia's state-controlled Transneft and Germany's PCK Schwedt refinery agreed that a non-Russian company will service the oil flow meters on the Polish part of the Druzhba pipeline, sources in Poland, Germany and Russia said.

XCMG's Advanced Drilling Rig Overcomes Challenges in Serbia's Gas Pipeline Project

XCMG's advanced drilling rig, the XZ3600, triumphs in Serbia's gas pipeline project, conquering tough terrain and hard soil layers with ease.

OMV Warns Gazprom May Halt Gas Supplies

Austrian oil and gas group OMV said on Wednesday that gas supplies from Russia's Gazprom may be suspended in connection with a foreign court ruling, without identifying the case but assuring the market it would have replacement cover.

National Grid to Sell Europe's Largest LNG Terminal

British energy infrastructure operator National Grid said on Thursday it is looking to sell its Grain LNG terminal in Britain, Europe's largest such facility, in a bid to streamline operations.

RWE Gas Storage West Launches Inquiry for Hydrogen Storage Demand

RWE Gas Storage West has initiated a preliminary market survey, inviting hydrogen producers, users, industrial firms, and traders to register their future hydrogen storage requirements until June 2024.

Uzbekneftegaz in Talks to Join Azerbaijan's Shah Deniz Gas Project

Uzbek energy firm Uzbekneftegaz is in talks with Azerbaijan's SOCAR over joining a project to develop Shah Deniz, the largest gas field in the Azerbaijani section of the Caspian Sea, an Uzbek official said on Tuesday.

Subsea Decommissioning Pays Off in North Sea

The ambitious project involved the removal of pipelines, control umbilicals and various other subsea structures from the seabed in water depths of up to 590 feet (180 meters), each requiring precise and efficient cutting.

Global News May 2024

Latest industry developments from around the world!