Cyprus and Greece sign an agreement on the 'world's largest' subsea cable
The energy ministers of Greece and Cyprus announced on Saturday that they had signed a Memorandum of Understanding (MoU), which will allow them to proceed with the construction of a submarine electric cable connecting continental Europe to East Mediterranean.
Prices for gas in Europe are lower due to steady Russian and Norwegian supplies
The wholesale gas prices in the Netherlands and Britain fell on Thursday morning, as supplies from Russia via Ukraine remained constant. Intercontinental Exchange (ICE) traded the benchmark front-month contract Dutch TTF Hub at 35.40 Euros per megawatt (MWh), down 0.74 euros, by 8:34 GMT.
The price of gas in Europe has reversed its initial gains and is now lower than the oil prices.
The Dutch and British wholesale prices of gas reversed gains earlier on Tuesday afternoon. They fell in line with the oil price and offset initial concerns about rising demand due to cooler weather conditions and U.S. liquefied gas supplies.
Prices of EUROPE GAS rise on demand and tight supply
The Dutch and British wholesale prices of gas extended their previous session's gains Tuesday. This was due to the rising demand for gas from cooler weather, the ongoing Norwegian supply restrictions, and fears that a hurricane could impact the U.S. liquefied gas supply.
After a 1-month low, the price of gas in Europe has seen a small increase.
The Dutch and British wholesale prices of gas traded slightly higher on Thursday morning, after having hit a one-month low the day before. This was due to full storages as well as a rising supply of liquefied gas (LNG), which offset fewer pipeline gas deliveries from Norway or Algeria.
Offshore Wind: Orsted Earnings, Shares Dented by Lower Wind Speeds, Cable Problems
Lower wind speeds and cable problems hit first-quarter earnings at Denmark's Orsted , sending shares in the world's biggest offshore wind farm developer lower on Thursday.Earnings before interest, tax, depreciation and amortisation (EBITDA) came in at 4.9 billion Danish crowns ($799 million)…
TWMA Appoints Aslaksen as New CEO
Specialist drilling waste management company, TWMA, has announced the appointment of Halle Aslaksen as its new CEO.Aslaksen joins the Aberdeen-headquartered company from the Norwegian hydropower operator Småkraft, where he served as CEO. He…
WindFloat Atlantic Platform Heads Offshore
The second of the three platforms for the WindFloat Atlantic project has left the Port of Ferrol for its final destination 20 kilometers offshore Viana do Castelo, Portugal.Upon arrival to the project site, it will be installed next to the first floating platform…
First WindFloat Atlantic Unit Sets Sail
The first of the three floating platforms for the 25-MW WindFloat Atlantic project has sailed from Spain carrying a fully installed turbine to a location 20 kilometers (12.43 miles) off the coast of Viana do Castelo, Portugal.Once at the final location…
Saudi Attacks, High Demand Leaves U.S. Short on Oil Tankers
A disruption in global oil flows following attacks on Saudi Arabian facilities has left U.S. crude exporters without enough tankers to cover rising demand for cargoes, traders and shipping sources said.Missile attacks last Saturday temporarily…
Repsol Buys Stake in Norway’s Mikkel Field
Repsol has reached an agreement with Total to acquire its 7.65% stake in the producing Mikkel field, in the eastern part of the Norwegian Sea.The Mikkel field is a gas and condensate reservoir located 35 kilometers south of the Midgard deposit on Equinor’s Åsgard field in the Norwegian Sea.
Norway's Gas Exports Set to Match Annual Record
Norway's gas exports hit a new high of 36.8 billion cubic meters (bcm) this summer and the annual deliveries will be on a par with the record annual figure achieved in 2017, gas system operator Gassco said on Friday.Between May and August, which is normally a season with fewer gas exports…
Sweden's Vattenfall to Cut 1,500 Jobs
Sweden's state-owned utility Vattenfall said on Monday it would cut 1,500 full-time positions among its employees and consultants by 2020 as part of a long-running drive to boost competitiveness and profitability. The announced job cuts form…
DNV GL Opens LNG Test Center
DNV GL opens LNG test center. The facility, at the organization’s existing renewable energy technology and gas laboratory site is the first type of facility with a capacity compatible for the downstream sector. Its capacity is up to 250kg of…
DNV GL Taps Oudman as Regional Manager
As the global energy transition in the oil and gas industry marks significant changes to come, regional adaptions will pose a broad variation of challenges and opportunities. DNV GL – Oil & Gas has appointed Ben Oudman as Regional Manager for Continental Europe…
UBS, Caisse des Depots Sell Norway's Offshore Gas Pipeline Stake
The owners of Norwegian gas pipeline investor Njord Gas Infrastructure have sold all their shares in the company to Norway's CapeOmega Holding AS for an undisclosed sum, Njord said on Monday. Njord Gas Infrastructure holds an 8 percent stake in the Gassled venture…
Court: $1.8B Gas Transport Tariff Row
A Norwegian court will hear an appeal next week by four firms seeking to overturn a ruling that upheld a government decision to cut offshore gas transportation tariffs. The firms - owned by Allianz, UBS, the Abu Dhabi Investment Authority and…
Tampnet Awarded Johan Sverdrup Contract
Tampnet, provider of high-capacity, low-latency based telecommunication infrastructure and services for the offshore oil and gas industry, was awarded a contract by Statoil for connecting the Johan Sverdrup field to their existing 2,500km subsea fiber infrastructure in the North Sea.
UK Gas Prices Rise on Crude Oil Gains
British wholesale gas prices traded higher on Thursday as rallying oil prices pulled up forward and prompt contracts. Gas for immediate delivery rose 0.20 pence to 34.40 pence per therm by 1017 GMT, while gas for day-ahead moved 0.25 pence higher to 34.45 pence per therm.
Hovem Named CEO of DNV GL Oil & Gas
Liv Hovem will step in as CEO of DNV GL’s Oil & Gas business area from January 1, 2018. She will be based at the DNV GL – Oil & Gas headquarters in Høvik, Norway as a member of the DNV GL Group's Executive Committee reporting to Group President and CEO Remi Eriksen.
