Russia & CIS
China's Wison New Energies to Exit Russian Projects, Impacting Arctic LNG 2
Chinese engineering firm Wison New Energies has decided to discontinue all of its ongoing Russian projects and will immediately and indefinitely stop taking any new Russian business, the company said in a LinkedIn post.
Russian Court Orders $102 Million Award of Commerzbank Assets to Pipeline Firm
A Russian court has ordered that Commerzbank assets worth $101.86 million be awarded in damages to a company overseeing construction of a gas processing plant in northwest Russia, court documents showed.
Global News June 2024
Latest industry developments from around the world!
Ukraine Secures First LNG Supply Deal with U.S. Firm Venture Global Amid Energy Crisis
Ukraine signed on Thursday its first LNG deal with a U.S. company to help to avert an energy supply crunch amid a war with its bigger neighbor Russia.
Uniper Wins $14 Billion Arbitration Ruling Against Gazprom, Terminates Dormant Gas Supply Contracts
German utility Uniper has won a multibillion-euro arbitration against former long-time supplier Gazprom, it said on Wednesday, allowing it to tear up dormant gas supply contracts and potentially setting a precedent for similar cases.
Czech Republic Set to Ditch Russian Oil by Mid-2025, PM Announces Pipeline Upgrade
The Czech Republic will end its use of Russian oil no later than the first half of 2025 as state pipeline firm MERO completes a capacity upgrade on the Transalpine Pipeline, Prime Minister Petr Fiala said on Tuesday.
Russia's May Pipeline Gas Exports to Europe Surge 39%, Data Shows
Russian energy giant Gazprom's average daily natural gas supplies to Europe in May rose by 7.3% from April and 39% year on year, Reuters calculations showed on Monday.
Kremlin Confident Gas Pipeline Deal with China Will Be Reached
Russia said on Monday there was no doubt it would reach an agreement with China to build the new Power of Siberia 2 gas pipeline, after a Financial Times report said the deal had stalled over Chinese price demands.
Russia Condemns U.S. Actions on Russia-China Trade and Oil Tankers
U.S. plans to further curb the operations of Russia's so-called "shadow fleet" of oil tankers are unacceptable and its desire to impede Russia-China trade is part of an illegal trade war, Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday.
U.S. LNG Export Pause Creates Opportunities for Middle East Producers, Says Woodside CEO
A moratorium on new U.S. LNG export projects could open up opportunities for producers in the Middle East and Russia, but Western sanctions are curbing Moscow's ambitions to expand its global gas trade, a senior industry official said.
OMV Warns Gazprom May Halt Gas Supplies
Austrian oil and gas group OMV said on Wednesday that gas supplies from Russia's Gazprom may be suspended in connection with a foreign court ruling, without identifying the case but assuring the market it would have replacement cover.
Russia Remains China's Top Oil Supplier for 12th Consecutive Month in April
Russia was China's top oil supplier in April for a 12th month, with volumes rising 30% from a year earlier, official data showed, as refiners continued to cash in discounted shipments, while supplies from Saudi Arabia fell a quarter on higher prices.
Putin Suggests Potential for Oil Pipeline Alongside Planned Gas Link to China
Russia could deliver oil as well as gas to China along a planned route via Mongolia, President Vladimir Putin said on Friday. The project has taken on added urgency for Russia as it bids to ramp up gas shipments to China to make up for the collapse of its exports to Europe because of the war in Ukraine.
Global News May 2024
Latest industry developments from around the world!
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.
Russia Plans to Pipe 35 Bcm of Gas to China via Kazakhstan, TASS Reports
Russia plans to send some 35 billion cubic meters (Bcm) of natural gas per year to China via Kazakhstan, the TASS news agency reported on Saturday citing Kazakhstan's envoy to Russia, disclosing the potential volumes for the first time.
U.S. Oil Executive Censure Puts Spotlight on Shale-OPEC Meetings
A U.S. regulator's censure of a top U.S. oil executive over private meetings with the Organization of the Petroleum Exporting Countries (OPEC) group of oil producers has put a spotlight on dinners attended by dozens of shale executives.
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.
U.S. State Dept. Clears Oil Service Firm SLB of Russia Sanction Violations
The U.S. State Department believes oil services firm SLB has not violated sanctions against Russia and the company has been told what Washington is willing to accept, Assistant Secretary of State Geoffrey Pyatt told Reuters in an interview on Wednesday.
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.
Russian LNG Exports Could Stall Over Next Four Years Amid Sanctions Pressure
Russia's LNG exports could stagnate in the next four years under the two less-rosy of three Economy Ministry scenarios - a sign that Western sanctions might be cramping Moscow's energy plans.
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.
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.
CNOOC Stockpiles Russian Oil at New Reserve Base in China
State-run China National Offshore Oil Co., one of the country's top importers of Russian oil, has in recent months been pumping shipments of ESPO blend from Russia's Far East into a newly launched reserve base, according to traders and tanker trackers.
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.
White House Considers Ending LNG Export Pause for Ukraine Aid, Sources Say
U.S. officials are open to ending President Joe Biden's pause on approvals of LNG exports to get a Ukraine aid package passed in Congress, but want to wait to see the entire proposal before making any decisions, two White House sources said on Tuesday.
Russia's Arctic LNG 2 Suspends Gas Liquefaction Amid Sanctions, Tanker Shortage
Novatek, Russia's largest producer of LNG, has suspended production at its Arctic LNG 2 project due to sanctions and a shortage of gas tankers, two sources familiar with the matter told Reuters on Tuesday.
Gazprom Utilizes Replacement Vessel for Gas Loadings Amid Ship Repair
Russia's Gazprom is using a replacement vessel for ship-to-ship loadings of LNG from its Portovaya LNG plant on the Baltic Sea while another ship is repaired, LSEG data showed on Monday.
Gazprom Acquires Former Shell Stake in Sakhalin Energy for $1 Billion
Kremlin-controlled energy giant Gazprom has acquired a 27.5% stake, formerly owned by Shell, in Russian LNG producer Sakhalin Energy for around $1 billion, according to a government order.
Editor’s Notebook: Nord Stream’s $20 Billion Question
It has been more than two years since the attack on the Nord Stream pipelines and still nobody knows for sure who were the perpetrators – or if they do, they are not saying so publicly.
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