Minister says Turkey regional gas hub will be operational by 2025
The Turkish Energy Minister said that Turkey and Russia are currently in talks to reach a deal for a hub in Istanbul. This hub could start operating in 2025.The Turkish government, which announced its intention to become a hub for gas by increasing imports and exports is currently…
Benchmark European Gas at its highest level in 10 Months due to geopolitical risk
The Benchmark front month contract at the Dutch TTF Gas Hub hit its highest intraday levels in more than ten months Thursday as the Middle East Conflict and reports that North Korean troops were ready to assist Russia in Ukraine kept the traders on edge before the U.S. Presidential election.
U.S. LNG Exports Soar, Europe a Big Buyer
U.S. LNG to Europe may squeeze out smaller gas suppliers.Shipments of U.S. liquefied natural gas (LNG) have gathered pace in March and Europe is set to stay a top destination for spot cargoes with Asian prices still too low to ship the chilled fuel that far.But winter demand for gas is fading…
Cyprus Offshore Gas Discovery: Conflict or Hope?
Oil giant ExxonMobil, together with partner Qatar Petroleum (QP), made giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus and estimated in-place gas resources in the reservoir at 5 to 8 trillion cubic feet (tcf) of gas.The…
Shell to Go Ahead with Shearwater Gas Expansion
Royal Dutch Shell said on Monday it would expand the Shearwater gas hub in the British North Sea, its seventh project to get the green light in the ageing basin this year.The project, a joint venture with Exxon Mobil and BP, will include a modification of the Shearwater platform to allow production and processing of wet gas as well as the cons
Eni Strikes Deal with Total to Boost Algeria Operations
Italian oil major Eni said on Monday it had struck a deal to team up with French peer Total to look for oil and gas in Algeria and strengthen its position in the north African country.The two oil companies signed a deal with state-owned Algerian energy giant Sonatrach to pursue…
Agreement Paves Way for South African Offshore Supply Base
South Africa’s first dedicated and customized facility supporting offshore oil and gas activities will be introduced at the Port of Saldanha. This follows the conclusion of an agreement between Transnet National Ports Authority (TNPA) and Saldehco Pty Ltd, which was signed off at an official ceremony at the port on Monday…
Asian LNG Spot Prices Jump after European Gas Outages
Asian liquefied natural gas (LNG) spot prices jumped this week in reaction to volatile price spikes on European gas markets and ongoing demand from the region's major consumers. Spot prices for January delivery hit $10.50 per mmBtu, 40 cents above last week, with February prices seeing similar levels.
Statoil Works to Restart Troll A Gas Platform
Norway's Statoil is working on start-up procedures to restore gas production from its Troll A platform in the North Sea, which was shut on Tuesday following a power outage and a related gas leak, the firm said on Wednesday. Tuesday's Troll A closure landed another blow to Britain's gas supplies that…
FNB Says Austria Incident Not to Affect Supply
FNB, a group of German long-distance gas network operators, said on Tuesday that the explosion at an Austrian gas hub disrupting European natural gas supply should not affect German flows. "We don't currently assume any problems with the supply of gas but we are observing the situation with utmost attention…
Fire at Austrian Gas Hub Completely Extinguished
The fire that broke out at Austria's main gas pipeline hub on Tuesday, killing one person and disrupting supplies to Italy and other countries, has been put out, the site's operator said. "Fire is completely extinguished," Gas Connect Austria, which operates the Baumgarten site in eastern Austria near the border with Slovakia…
US Gasoline Prices Climb as Refineries Gradually Restart
U.S. retail gasoline prices climbed Tuesday, even as oil refineries rumbled back into service after Hurricane Harvey disrupted operations along the Texas coast. The average gasoline price was $2.648, 30.2 cents higher than a month ago, according to motorist advocacy group AAA. Gasoline prices normally retreat after the U.S.
Snam in Talks to Buy LNG Terminal Stake from Edison
Italian gas group Snam is in exclusive talks with EDF's Italian unit Edison to buy a stake in a liquefied natural gas terminal in northern Italy as part of plans to develop its LNG business, two sources said. Snam, controlled by state lender Cassa Depositi e Prestiti, is looking…
South Korean Tender Stirs LNG Market
Asian spot LNG prices jumped this week, buoyed by hopes Korea Gas Corp's new tender would match past buying sprees and by emerging demand from China and Japan. Spot prices for June delivery rose to $5.70 per million British thermal units (mmBtu), a 20 cent jump over last week…
Snam Lifts Spending to Boost Profit
Italian gas company Snam expects to grow net profit by 4 percent each year over the next five years, boosted by cost savings and increased investment in its latest plan. Europe's biggest gas pipeline operator said it would spend five billion euros ($5.30 billion) in the period to 2021…
Bulgaria Gas Group says Gets EU Funds for Gas Hub Study
Bulgaria's gas network operator Bulgartransgaz said it will get financing from the European Union for a feasibility study on a natural gas hub at the Black Sea port of Varna to store and transport Russian and Caspian gas to southeast and central Europe. Sofia's plans for the hub…
Elengy Says Received Delivery of LNG Cargo at Fos
French terminal operator Elengy said on Thursday that it had received delivery of a cargo of liquefied natural gas (LNG) at its Fos terminal on Wednesday, and expected to receive six more deliveries in February. Elengy said it was the third cargo it had received in the month of January.
IEA welcomes Italy's Plan to Revisit Energy Strategy
In its latest country review of energy policies, the International Energy Agency praised Italy's comprehensive long-term energy strategy and the acceleration of its efforts to comply with 2020 goals on renewable energy, climate change and energy efficiency. The IEA's new report…
Bulgaria, Romania Launch Gas Pipeline
Bulgaria and Romania started a new natural gas pipeline on Friday as part of Sofia's efforts to reduce dependence on Russian gas. The 25-km pipeline, which runs under the Danube River and can operate in either direction, will allow Bulgaria to import gas from Europe. It will also…
Paradigm Flow Services Announces Key Move In US Market
Oil and gas services provider Paradigm Flow Services has announced a key move in its continued expansion into North America. Business Development Manager Kevin Keogh is to relocate from the company’s headquarters in Aberdeenshire, Scotland to Houston, Texas where he will head up the company’s business development activities.
