Europe

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!

Chevron Prepares for North Sea Exit After More Than 55 Years

Chevron said it is set to launch the sale of its remaining U.K. North Sea oil and gas assets, in a move that would mark the U.S. energy giant's exit from the ageing basin after more than 55 years.

Slovakia Paves the Way for Gas Imports from Azerbaijan via Ukraine

Slovakia is laying the groundwork to receive gas from Azerbaijan through Ukraine, to further diversify its supplies away from Russia and revive earnings from transit to other countries, Prime Minister Robert Fico said on Monday.

Germany's EnBW Signs 15-Year LNG Supply Deal with ADNOC

German utility company EnBW said it has signed a 15-year LNG contract with ADNOC, as Europe boosts LNG imports after Russia's invasion of Ukraine curtailed westbound pipeline gas shipments.

Russia's Gazprom Sees Worst Loss in Decades as European Gas Sales Collapse

Kremlin-owned gas giant Gazprom said on Thursday it plunged to a net loss of $6.9 billion in 2023, its first annual loss in more than 20 years, amid dwindling gas trade with Europe, once its main sales market.

Shell Smashes Forecasts with $7.7 Billion Quarterly Profit Driven by Strong LNG Performance

Shell reported first-quarter profit of $7.7 billion on Thursday, exceeding expectations as disruption to Red Sea shipping and Russian refining boosted oil trading and liquefied natural gas production rose.

NOV Introduces Breakthrough Heated Flexible Pipe System for Subsea Operations

NOV will supply its first active heated pipe system in 2025, introducing a proprietary technology solution of electrically heating the bore of the pipe through the resistance of the pipe’s inner carcass layer.

Gassco, Gascade to Establish New Hydrogen Pipeline Route Between Norway and Germany

GASCADE and GASSCO have signed a memorandum of understanding to establish a hydrogen transport route between Germany and Norway, facilitating hydrogen transportation via pipeline in the North Sea.

Turkey in Talks with Exxon Over Multibillion-Dollar LNG Deal, FT Reports

Turkey is in talks with U.S. energy giant ExxonMobil over a multibillion-dollar deal to buy LNG, in an effort to curb its dependence on Russian energy, the Financial Times reported on Sunday.

OPEC Secretary General: 'End of Oil Not in Sight', Urges Focus on Emissions Reduction

The end of oil is not in sight, OPEC's top official said, as the pace of energy demand growth means that alternatives cannot replace it at the needed scale, and the focus should be on cutting emissions not oil use.

Uncertainty Clouds EastMed Gas Pipeline Project Timeline, Stakeholders Say

The timeline for a proposed 1,240-mile subsea pipeline connecting East Mediterranean gas reserves to Greece via Cyprus and Crete remains uncertain as stakeholders are reviewing its economic feasibility, delegates from Cyprus and the East Mediterranean Gas Forum (EMGF) said.

Pipeline Projects Seen as Unlikely to Involve Western-Based Companies

(P&GJ) – Inside China, there are numerous large-scale oil and gas pipeline projects that are being built, are currently in the planning stages or have been proposed. Some of these have huge potential significance, and the situation has certainly caught the attention of Western-based companies, which hope to supply equipment, technology or services to one or more of the projects.

Natural Gas Price Plunge Hits Big Oil Earnings Hard

U.S. and European oil companies reported weaker first quarter results on Friday due to a sharp drop in natural gas prices compared with a year ago.

ABL Completes German Subsea Pipeline Installation Project

(P&GJ) — Energy consultancy ABL finalized its marine warranty survey scope in connection with the installation of Germany’s OAL subsea pipeline, with the first gas feed-in expected shortly.