Europe

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.

Equinor Expands LNG Trading, Eyes Europe and Asia Deals, Senior Exec Says

Norwegian energy group Equinor plans to expand its LNG trading business and is in talks with a number of potential buyers in Europe and Southeast Asia, a top official told Reuters.

Projects April 2024

U.S. regulators approve Mexico Pacific’s Saguaro Connector pipeline; EU approves $4.9 billion German state funds for hydrogen projects; Tallgrass, Bridger begin open season for Pony Express expansion; and more!

Global News April 2024

Latest industry developments from around the world!

Equinor's Hammerfest LNG Plant Shuts Until Friday After Gas Leak

Equinor's Hammerfest LNG plant in Arctic northern Norway was evacuated on Tuesday because of a gas leak during maintenance and will remain offline until Friday at least, the company said.

Editor’s Notebook: Few Winners in Iraq-Turkey Pipeline Fallout

Increasingly frustrated by impasses regionally, the eight member companies of the Association of the Petroleum Industry of Kurdistan (APIKUR) have gone so far as requesting that two U.S. lawmakers exert pressure on Iraq to reopen the Iraqi-Türkiye pipeline.

Kistos Completes Acquisition of UK Onshore Gas Storage Assets

The acquisition includes two onshore gas storage facilities in the UK, Hill Top Farm and Hole House Farm, at a total cost of $31 million funded from existing cash resources.

Balticconnector Gas Pipeline Resumes Operations Following Damage

A Baltic Sea gas pipeline that was torn apart last year in an incident still under police investigation has resumed commercial operation as planned after months of repair, operator Gasgrid Finland said on Monday.

SLB Profit Rises 14% on Strong International Drilling Demand Amid North American Weakness

Top oilfield services firm SLB reported a 14% rise in first-quarter profit on Friday, in line with analysts' estimates, as higher oil and gas drilling demand in the Middle East and Africa helped offset weakness in North America.

Balticconnector Gas Pipeline Set to Resume Commercial Operations on April 22

The Balticconnector subsea gas pipeline between Finland and Estonia, which was damaged in Oct. 2023, will resume commercial operations on April 22. The damage had previously affected energy security and raised concerns in the wider region.

Dutch Senate Approves Law to Permanently Close Shell, Exxon-Operated Groningen Gas Field

The Dutch Senate on Tuesday approved a law to permanently close the Groningen gas field, following the government's promise that production will never be resumed to limit seismic risks in the region.

Croatia Secures $566 Million to Construct Four New Gas Pipelines

(P&GJ) — Croatia's energy infrastructure is set for a significant upgrade with the signing of a contract worth $566.4 million to construct four gas pipelines by mid-2026. The pipelines will facilitate gas transportation from the Krk LNG terminal to Slovenia, Hungary, and other Southeast European countries.

IEA Trims Oil Demand Forecast on Weakness in Wealthier Countries

The International Energy Agency (IEA) trimmed its forecast for 2024 oil demand growth on Friday, citing lower than expected consumption in OECD countries and a slump in factory activity.

ADNOC Explored Potential Takeover of BP, Sources Say

The United Arab Emirates' state-owned oil company recently considered buying Britain's BP but the deliberations did not progress beyond preliminary discussions, people familiar with the matter told Reuters.