Europe
Iqony Plans Three Hydrogen-Ready Gas Plants in Germany
German firm Iqony plans to build gas-fired plants at three existing sites, a company spokesperson said on Thursday, becoming the latest firm to seek a slice of the government's planned tender for 10 gigawatts (GW) of new capacity.
Saipem Expects 20% Drop in Aramco Orders Following Capacity Target Cut
Italian energy contractor Saipem's CEO said on Thursday it expects a 20% drop in average annual orders from Saudi Aramco to 2027 as a result of the state oil company's decision to drop its capacity expansion plans.
Snam Enters Exclusive Talks to Acquire Edison's Gas Storage Assets in Italy
Energy group Edison said on Monday it started exclusive talks with gas grid operator Snam over the sale of its natural gas storage assets in Italy.
U.S. Takes Lead as Top Supplier to Europe for Crude, Diesel and LNG
The United States has taken the top spot as Europe's supplier of crude oil, diesel, and liquefied natural gas (LNG) in recent months, capitalizing on reduced imports from east of Suez caused by shipping disruptions in the Red Sea.
EU Allocates $402 Million to Italian Energy Groups for Green Hydrogen Project
The European Commission has awarded financing of up to $402 million to set up a 'Green Hydrogen Valley' in Italy's Puglia region, the energy groups involved said.
Germany Plans to Expand Carbon Capture and Storage, Including Sub-Seabed Transport
Germany will change its carbon dioxide storage law to allow carbon capture and off-shore storage for certain industrial sectors as Europe's biggest economy aims to become carbon neutral by 2045, Economy Minister Robert Habeck said on Monday.
Denmark Ends Probe Into 'Deliberate' Nord Stream Pipeline Blasts
Denmark has dropped its investigation into the explosions in 2022 on the Nord Stream pipelines carrying Russian gas to Germany, police said on Monday, becoming the second nation to do so after Sweden closed its own inquiry.
First LNG Vessel Arrives at Germany's New Mukran Terminal
The first vessel carrying LNG for Germany's Baltic Sea terminal of Mukran arrived on Saturday for a test operation as the country steps up its quest to replace Russian pipeline gas.
Scotland's Finnart Pipeline Repairs Projected to Continue Through April
Repair work on the Finnart pipeline that supplies Scotland's only refinery will take longer than expected to complete, five industry sources told Reuters, in the latest in a series of setbacks this year.
Germany's SEFE Weighs Investments in Hydrogen Storage, Pipelines
German nationalized gas trader SEFE is exploring transforming some of its underground storage caverns and pipelines to clean hydrogen, its CEO said, indicating this could involve investments of roughly $541 million.
EU Sees No Need to Extend Deal on Russian Gas Transit via Ukraine
The European Union sees no need to extend an agreement to transport Russian gas to Europe via Ukraine, ahead of the contract's planned expiry at the end of the year, the bloc's energy policy chief said on Thursday.
Equinor Signs 15-Year LNG Deal with India's Deepak Fertilizers
Norway's Equinor said on Monday it had signed a 15-year agreement to supply liquefied natural gas (LNG) to India's Deepak Fertilizers from 2026.
Gasgrid Confirms On-Track Progress for Balticconnector Pipeline Repair, Targeting April Completion
Finland's Gasgrid on Thursday said preparations for the repair of the Balticconnector gas pipeline between Finland and Estonia were on schedule and estimated that commissioning could take place in April.
EU Approves $4.9 Billion German State Funds for Hydrogen Projects
The European Commission approved some $4.94 billion in German government funding for 24 German hydrogen projects, the economy ministry said on Thursday as Europe's biggest economy bets on the fuel for decarbonization.
Shell Forecasts 50% Surge in Global LNG Demand by 2040
Global demand for liquefied natural gas (LNG) is estimated to rise by more than 50% by 2040, as China and countries in South and Southeast Asia use LNG to support their economic growth, Shell said on Wednesday.
Caspian Pipeline Consortium Sees 7% Increase in Oil Exports Year-on-Year in January
The Caspian Pipeline Consortium (CPC) increased crude oil exports by 7% in January from the same month a year ago to 6.116 million metric tons (1.55 million barrels per day), industry sources told Reuters on Tuesday.
Williams CEO Warns U.S. LNG Export Terminal Permit Pause May Fuel Overseas Coal Consumption
The Biden administration's pause on approving permits for U.S. liquefied natural gas (LNG) export terminals could backfire by boosting coal usage overseas, the CEO of U.S. natural gas pipeline operator Williams Companies said.
Russia Extends Permit for LNG Supplies to Germany's SEFE Until 2040
The Russian government has extended a permit for its Yamal LNG plant to supply LNG to German nationalized gas importer and trader SEFE until Dec. 31, 2040, according to a government document published on Friday.
Sonatrach to Supply Germany with Pipeline Gas for the First Time
Germany will receive its first supplies of pipeline natural gas from Algeria under a medium-term contract signed between a subsidiary of trader VNG AG and state-owned oil and gas firm Sonatrach, the companies said on Thursday.
GAIL India Responds to Red Sea Crisis, Buys Spot LNG and Redirects U.S. Supply to Europe
India's state-run GAIL (India) Ltd. is selling more U.S. LNG in European markets and making spot purchases to avert delays due to the Red Sea crisis, head of marketing Sanjay Kumar told a press conference.
Norway's Equinor Open to More Long-Term Gas Deals
Norway's Equinor would welcome more long-term supply agreements for its natural gas production, after announcing several such deals last year, the head of its marketing, midstream and processing division said on Wednesday.
Venture Global and Grain LNG Ink 16-Year Deal for LNG Supply to UK
Under the agreement, Venture Global will have the ability to access 3 million tonnes per annum of LNG storage and regasification capacity at the Isle of Grain LNG receiving terminal for sixteen years beginning in 2029-equivalent of up to 5% of average U.K. gas demand.
Italy's Snam Initiates Market Test for Hydrogen Demand, Seeks Interest in Carbon Capture Projects
Snam is officially launching a market test for hydrogen demand in Italy and a collection of expressions of interest for carbon dioxide (CO2) transport and storage, the gas grid operator said on Monday.
U.S. Says Allies 'Reassured' LNG Pause Does Not Affect Current Exports
U.S. allies concerned about steady supplies of LNG are reassured when they understand President Joe Biden's pause on LNG export approvals does not affect currently permitted shipments, a U.S. State Department official said on Monday.
Germany Unveils $17 Billion Subsidy Plan for Hydrogen-Ready Gas Power Plants
Germany's government has agreed plans to subsidize gas power plants that can switch to hydrogen, the economy ministry said on Monday, with a price tag of $17 billion in subsidies as part of efforts to supplement intermittent renewable energy and speed up the transition to low carbon generation.
Projects February 2024
East African Crude Pipeline delivers first shipment; Pembina acquires Enbridge’s stake in Alliance Pipeline; KM boosts Permian Highway pipeline capacity by 550 MMcf/d; and more!
OMV Petrom Accelerates Investments in Black Sea Gas Project, Targets 2027 Production
The Neptun Deep Black Sea gas project, one of the European Union's most significant natural gas deposits, is expected to cost $4.3 billion. OMV Petrom is developing it with state-owned gas producer Romgaz.
Poland's Gaz-System Chooses Mitsui O.S.K. Lines for LNG Regasification Unit
Polish pipeline operator Gaz-System has chosen Japan's Mitsui O.S.K. Lines to supply a floating storage and regasification unit (FSRU), it said on Thursday.
U.S. LNG Exports Decline in January Due to Arctic Freeze, Plant Outages; Europe Dominates Despite Challenges
Cold weather and outages at second-largest exporter Freeport LNG cut U.S. LNG exports last month below the December record, LSEG ship tracking data showed.
Global News February 2024
Latest industry developments from around the world!
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
