Europe

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.

Trafigura Consortium in Talks to Buy Exxon Oil Refinery in France

Rhone Energies, a consortium of commodity trader Trafigura and Entara LLC, is in exclusive negotiations with Exxon Mobil's ESSO SAF to acquire the Fos-sur-Mer refinery in southern France and the Toulouse and Villette de Vienne terminals.

EU Parliament Approves Legal Option to Block Russian LNG Imports

The European Parliament voted on Thursday to pass rules allowing European governments to ban Russian LNG imports, by preventing Russian firms from booking gas infrastructure capacity.

Germany's Mukran LNG Terminal Receives Operating Permit

Germany's Baltic Sea import terminal for LNG at Mukran on Ruegen island has received its operating permit under federal and state laws, private operating company Deutsche ReGas said on Wednesday.

GRTgaz Invests $43.4 Million in First French-German Cross-Border Hydrogen Pipeline

French gas grid operator GRTgaz will invest 40 million euros ($43.4 million) in a 110-million-euro planned hydrogen pipeline due to link France and Germany, its Chief Executive Sandrine Meunier said on Wednesday.

VTTI to Control Italy's Largest LNG Terminal, Snam Acquires 30%

Energy storage group VTTI will get a 70% stake in Italy's biggest LNG terminal, with grid operator Snam owning the rest, the Milan-listed group said late on Wednesday, announcing a deal to be finalized by year-end.

Baker Hughes, Snam Partner to Decarbonize Italian Gas Network with Hydrogen-Ready Technology

Baker Hughes has secured a contract with Snam, Europe’s primary operator in natural gas infrastructure, to provide advanced technology aimed at decarbonizing the Italian gas network.

Moldova Diversifies Gas Supply, Purchases U.S.-Origin LNG from Greece for Consumers

Moldova's domestic gas supplier Energocom said it will supply its consumers with test volumes of U.S.-origin LNG for the first time on Monday and Tuesday.

Eni Receives UK Government Approval for CO2 Pipeline Crossing England-Wales Border

The pipeline will facilitate the transportation of carbon dioxide from capture plants across the North West of England and North Wales to Eni's depleted natural gas reservoirs beneath the seabed in Liverpool Bay.

Chevron Begins Pipeline Transport of Leviathan Natural Gas to Ashdod Refinery

NewMed Energy LP, a partner in the Leviathan natural gas field offshore Israel alongside Chevron Mediterranean and other stakeholders, announced the commencement of condensate transportation from the field to the Ashdod oil refinery located in western Israel.

TotalEnergies Restarts Gas Production at Tyra Offshore Hub

The revamped hub is expected to produce 5.7 million cubic meters of gas and 22,000 barrels of condensate per day, reaffirming Denmark's self-sufficiency and status as a net exporter of natural gas.

SEFE Acquires Full Stake in WIGA from Wintershall Dea

WIGA holds sole ownership of German regulated gas transmission system operators GASCADE Gastransport GmbH and NEL Gastransport GmbH.