Gazprom raises its 2024 investment program by 4%, to $16,9 billion
Gazprom, the Russian energy giant, announced on Tuesday that it had increased its investment programme for 2024 by around 4%. The previous program was approved in December and consisted of 1.57 trillion Russian roubles. This has now been raised to 1.64 trillion Russian roubles (16.85 billion dollars). Gazprom reported that both domestic and export gas supplies were increasing, which allowed the company to increase its estimates of sales proceeds this year by 6% over its previous forecast.
Prices for gas in Europe are lower due to a revised forecast but concerns about supply persist.
The Dutch and British wholesale gas prices fell slightly on Tuesday morning due to small changes in weather forecasts. They had risen more than 2% on Monday, mainly because of colder forecasts. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub fell by 0.09 euros to 39.90 Euro per megawatt hour at 0756 GMT. The Dutch day-ahead contracts was down by 0.21 euros at 39.67 Euro/MWh.
Quick Connect: OAL Subsea Pipeline Completed
Making a twist on the proverb 'necessity is the mother of invention', GASCADE Gastransport GmbH and StreamTec Solutions AG completed the Ostsee Anbindungsleitung (OAL) subsea pipeline connecting the Mukran LNG terminal to the German energy grid at Lubmin in 18 months, a amazingly short turnaround considering the time frame encompassed project conception, design, permitting and construction.The 'necessity' in this case: energy security for Germany and Europe.The OAL…
Snam Sees Limited Impact from Coronavirus on Targets
Italian gas company Snam can't reliably calculate the effects of the coronavirus pandemic on its business outlook but doesn't see any major impact, it said on Thursday."The company expects a limited impact on its economic targets and to the investment programme, proportional to the speed of recovery of operations," it said in a statement on first quarter results.Europe's biggest gas pipeline company has…
Gasunie Joins Offshore Green Hydrogen Project
Energy infrastructure firm Gasunie has joined as a partner at the PosHYdon project - the first offshore green hydrogen pilot being worked on in the Dutch section of the North Sea.PosHYdon integrates three energy systems in the Dutch North Sea: offshore wind, offshore gas and offshore hydrogen and will involve the installation of the hydrogen-producing plant on the Neptune-operated Q13a platform.Gasunie…
Nakilat Posts Record Net Profit of $270M
Doha-listed LNG and LPG carrier owner Qatar Gas Transport Company Ltd (Nakilat) reported a consolidated net profit of QR1,003m (USD $270 million) in 2019, an increase of 12.4 percent, as compared to QR892m posted for the same period in 2018.The 2019 net profit is Nakilat’s highest profit recorded since its inception, said the Qatari shipping and maritime company.Nakilat's robust financial performance…
Gassco Urges to Boost Barents Sea Gas Export
Norwegian state-owned natural gas pipelines operator Gassco published a study saying that it could be profitable to increase the transport capacity for gas.According to the study regarding the transport of gas from the southern Barents Sea several gas transport options from the Barents Sea, including a new pipeline, could prove profitable with today’s known resources.The report, "Assessment of gas transport alternatives in the southern Barents Sea"…
Polish LNG Terminal Gets EU Grant
Poland’s LNG import terminal in Świnoujście will receive a EUR128mln grant from from the European Regional Development Fund and the Cohesion Fund to expand its regasification capacity.The European Commission said in a notification that it has approved plans to support the increase of the regasification capacity, and the development of additional functionalities of the LNG terminal in Poland.The plans were…
OMV Optimistic Denmark Will Approve Nord Stream 2 Next Year
Austrian energy group OMV , one of the companies that is financing the Nord Stream 2 pipeline, is optimistic Denmark will approve the project next year and the new gas transport route will start operations late 2019, its chief executive said.The pipeline, which will double the gas Russia can pump under the Baltic Sea to Germany, bypassing traditional routes via Ukraine, has been strongly opposed by Poland and the United States.
VT Halter Nabs Deal to Build LNG Bunkering ATB
As the move toward LNG as marine fuel moves foward in earnest, Singapore Technologies Engineering Ltd (ST Engineering) announced that its US shipyard, VT Halter Marine won the contract by Quality Liquefied Natural Gas Transport, LLC (Q-LNG) to build America’s first offshore Liquefied Natural Gas Articulated Tug and Barge (LNG ATB) unit. Q-LNG contracted VT Halter Marine for engineering services to complete the detailed design for the development and construction of one LNG Bunkering ATB unit.
Kinder Morgan Q3 Revenue Dips on Harvey Impact
Pipeline operator Kinder Morgan Inc reported a 1.5 percent fall in quarterly revenue, partly due to the impact of Hurricane Harvey. In August, Harvey hit the Texas shore as a fierce Category 4 hurricane, causing massive flooding, which knocked out 11 percent of U.S. refining capacity, a quarter of oil production from the U.S. Gulf of Mexico, and closed ports all along the Texas coast. Kinder Morgan had shut down parts of its KMCC pipeline system for crude and condensate…
Court Rejects PGniG's Attempt to Limit Gazprom's Use of Opal Pipeline
A German court on Friday confirmed it had rejected a request by Polish energy company PGniG and its German subsidiary for an injunction to block Russia's Gazprom from increasing its use of the Opal pipeline in eastern Germany. The case is part of a long-running dispute over the routes for transporting Russian gas to Europe. The Duesseldorf higher regional court said in a statement to Reuters that relevant applications had been rejected on Oct.
Opal Reports Interest in Renewed Capacity Auctions
Pipeline operator Opal Gastransport said on Wednesday it had seen interest in shipping more Russian natural pipeline gas volumes into storage and to the Czech Republic after restarting day-ahead auctions on the German onshore link last week. Germany's Oberlandesgericht Duesseldorf court last month preliminarily rejected a legal challenge capping the amount of gas that Russia's Gazprom can ship on the 470-km Opal, which carries gas from the Nord Stream pipeline arriving in northern Germany.
Qatar Seeks to Open New LNG Markets with Floating Terminals
Qatar Gas Transport Company and Norwegian shipping business Hoegh LNG have embarked on a joint project to open new markets for Qatar to sell its liquefied natural gas (LNG) via floating import terminals. Hoegh LNG, a developer of floating LNG import terminals, expects to start work on the import terminal project in a matter of months, CEO Sveinung Stohle told Reuters. Stohle said Hoegh LNG and Qatar Gas Transport Company…
Gazprom Inks Gas Transport Deal with Eustream
Russian gas giant Gazprom said on Tuesday it had signed a 5.3 billion euro ($5.6 billion) gas transportation framework deal with Slovakia's Eustream until 2050. "This agreement provides for a basis for future contracts on transportation and allows to participate in obtaining any capacity in the gas transportation system of Slovakia," Gazprom Export, the export arm of Gazprom, told Reuters in an e-mailed comments.
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, nearly all to upgrade its domestic grid and improve connections with Europe, including the Trans Adriatic Pipeline bringing Azeri gas to Italy in 2020.
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 the Canada Pension Plan Investment Board - said the slashed tariffs would cost them 15 billion crowns ($1.8 billion) in lost earning by 2028. Solveig Gas, Njord Gas Infrastructure…
Novatek Inks Agreements with Japanese Companies on Gas
Novatek, Russia's second biggest gas producer, said on Friday it had signed agreements with Japan's Mitsui & Co, Mitsubishi Corp and Marubeni Corp to cooperate in liquefied natural gas and other energy sectors. Japan, lacking fuel resources, is the world's largest importer of the gas while Russia wants to boost its global LNG market share, currently less than 5 percent. Novatek's Chief Executive Leonid Mikhelson said the agreements focused on potential gas production…
China Drafts Rules to Lower Natural Gas Transport Costs
China's state planner has proposed new rules regulating the cost of transporting natural gas by pipeline that analysts say will lower prices in order to boost consumption of the cleaner-burning fuel. The government will use an "allowed cost plus reasonable margin" scheme in setting the transportation cost for natural gas, the National Development and Reform Commission (NDRC) said on Wednesday on its website.
Technip Wins Dvalin Subsea Development Contract
Technip said it has been awarded an EPCI contract for the subsea development of the Dvalin field by DEA Norge AS. The Dvalin field (previously named Zidane) development is a tie-back from a new four-slot template to the Heidrun platform through a 15km long Pipe-in-Pipe production line. The development also connects the Heidrun gas export from Heidrun to the Polarled Gas Transport Pipeline through a new 7.5km pipeline.
