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Romania says its natural gas output set to double by 2025

Romania could almost double its natural gas production to about 20 billion cubic metres a year by 2025, helped by new offshore discoveries in the Black Sea, the head of the National Agency for Mineral Resources (ANRM), Sorin Gal, said on Tuesday. Unlike other countries in the region, Romania is almost entirely energy independent. The European Union state imports less than 10 percent of its gas needs from Russia, with the rest produced locally, largely by state producer Romgaz and OMV Petrom, controlled by Austria’s OMV. “We produce 10-11 billion ...

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TAP gas pipeline to get 1.2 bln euros in loans from EBRD in 2018

The European Bank for Reconstruction and Development plans to allocate loans worth up to 1.2 billion euros for the Trans-Adriatic Pipeline (TAP) this year, part of a $40 billion project to bring new gas supplies to Europe, an EBRD official said. The European Union is trying to reduce its dependence on Russian gas by developing the so-called Southern Gas Corridor which is expected to bring around 16 billion cubic metres of gas to Europe per year from 2020. The gas would come from the giant Shah Deniz 2 field in ...

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New Greek LNG project FID slips to late 2018: partner GasLog

The timing of the final investment decision for the planned 6.1 Bcm/year floating LNG import facility at Alexandroupolis in northern Greece has slipped to late 2018, one of the project partners said late Friday, as the developers look to begin commercial operations at the project at the same time as other new gas import infrastructure. Shipping company GasLog, which has a 20% stake in the project operator Gastrade, said the partners now aim to align the Alexandroupolis FSRU project with the start-up of the Greece-Bulgaria gas interconnector. “As a result ...

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Egypt’s gas production to reach 6B cubic feet daily by June

Egypt’s natural gas production will reach some six billion cubic feet a day by the end of fiscal year 2017/18, Deputy Chairman of the Egyptian Natural Gas Holding Company (EGAS) for production and fields’ development Mohamed Abdel Azim said. Abdel Azim said in press statements that nine projects for gas production are underway, including the completion of the first phase of Egypt’s giant Zohr gas field, which delivered its first gas in December. This is in addition to the completion of the second phase of developing the north Alexandria and ...

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Russia’s Novatek says wins auction for Alrosa’s gas assets

Novatek, Russia’s largest non-state gas producer, said in a statement on Monday it had won an auction for Alrosa’s gas assets with a bid of 30.3 billion roubles ($537 million). Leonid Mikhelson, chairman of the management board, said the purchase would boost the company’s profitability. “They (the assets) will contribute to our gas and liquids production to load our gas condensate processing chain thus maximising the company’s profitability,” he said in a statement. Source: Reuters (Reporting by Vladimir Soldatkin; Editing by Andrew Osborn)

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Singapore Refining Company completes new gasoline clean fuels facility

Singapore Refining Company said on Monday that it has completed a new $500 million gasoline clean fuels facility and cogeneration plant at its Jurong Island refinery. The new two-train cogenration plant will generate 72 megawatts of electricity, exceeding the refinery’s current power requirements and eliminating electricity expenses which is one of the largest operating costs at the refinery, the company said. The refinery boilers were converted from fuel oil to natural gas firing, it added. The new gasoline facility features a gasoline desulphurization unit to reduce sulphur in gasoline products, ...

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GLOBAL LNG-March-April spot price spread may tighten on supply outlook

Asian spot liquefied natural gas (LNG) prices for April delivery showed a steep discount to March prices but the spread could tighten due to falling U.S. output, low South Korean inventory levels and buyers delaying purchases. Spot prices for April LNG-AS delivery in Asia were assessed at $7.90 per million British thermal units (mmBtu) this week. Declining feed-gas supply at Cheniere Energy’s Sabine Pass liquefaction plant in Louisiana may squeeze exports and lift Asian prices if production suffers for an extended period of time. Some traders linked the cut in ...

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Romania’s Transgaz interested in Greek LNG terminal – CEO

Romania’s natural gas transmission system operator Transgaz, a partner in a consortium bidding for a stake in the Greek counterpart DESFA, has expressed an interest in the development of the Revithoussa LNG terminal, a piece of infrastructure that would boost the region’s import capacity. Speaking on the sidelines of the Athens Energy Forum on Thursday, Ion Sterian, Transgaz CEO, told ICIS the expansion of the terminal would contribute to the creation of an integrated north-south transmission corridor and help whip-up market liquidity thanks to attractive LNG terms that are opening ...

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Greece gets two binding bids in gas grid sale

Greece has received two binding bids for a 66 percent stake in its gas grid operator DESFA, whose privatisation is a key term of its international bailout, the Greek privatisation agency (HRADF) said on Friday. Bids were submitted by a consortium of Italy’s Snam , Spain’s Enagas Internacional and Belgium’s Fluxys, and a consortium of Spain’s Regasificadora del Noroeste (Reganosa), Romania’s Transgaz and the European Bank for Reconstruction and Development (EBRD). Sources had earlier told Reuters that two consortia submitted bids for the stake. Greece had to receive the binding ...

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Choke Points Could Emerge To Inhibit Global LNG Trade Expansion In 2018

As the market embarks on a second year of record level LNG supply injections from the Atlantic Basin and strong competition from Asia for those volumes, a potential choke point is emerging: the Panama Canal. Not eighteen months after the first LNG tanker transited the newly expanded conduit point utilization rates for LNG tankers have gradually crept up. Current regulations stipulate that the Panama Canal can transit just one LNG vessel a day, laden or ballast, and only during daylight hours. In the first quarter of last year, Panama Canal ...

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Keystone XL in Limbo, TransCanada Turns to Gas Pipelines

While TransCanada Corp. continues to weigh whether to build its long-delayed Keystone XL oil pipeline, the company announced another major expansion of its natural gas system in Alberta. TransCanada will spend C$2.4 billion ($1.9 billion) to expand its NGTL System, adding 1 billion cubic feet of daily shipping capacity, according to a statement Thursday. The company struck binding agreements with shippers that start in November 2020 and April 2021, with an average contract term of almost 29 years. The expansion shows TransCanada isn’t sitting still while it considers whether to ...

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U.S. proved reserves of natural gas up in 2016, oil reserves remained unchanged

The United States had 341.1 trillion cubic feet (Tcf) of natural gas proved reserves as of the end of 2016, an increase of 5% from 2015, according to EIA’s recently released U.S. Crude Oil and Natural Gas Proved Reserves report. U.S. crude oil and lease condensate proved reserves remained virtually unchanged from their 2015 level, at 35.2 billion barrels. Proved reserves are those volumes of oil and natural gas that geological and engineering data demonstrate with reasonable certainty to be recoverable in future years from known reservoirs under existing economic ...

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Qatar to raise yearly LNG production to 100 million tons

Qatar Petroleum (QP) has rolled out a new strategy to increase the production of liquefied natural gas (LNG) to 100 million tons per year, local media reported Thursday. The strategy was unveiled during a three-day event held at QP’s headquarters, in the attendance of a number of senior management and executives, the reports said. Qatar’s global position as the leading LNG producer will be consolidated by increasing the LNG production from 77 million tons to 100 million tons per year. “We are developing a global business and are also enhancing ...

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LNG Shipping: Asia’s soaring gas demand opens window for new LNG projects

Soaring gas demand from China, India and Southeast Asia is sucking up an LNG supply glut previously expected to last for years, opening opportunity for new production from East Africa to North America that had been deemed part of the overhang. Trade flows in Eikon show global liquefied natural gas (LNG) imports have risen 40 percent since 2015, to almost 40 billion cubic meters (bcm) a month. Growth accelerated in 2017, with imports up by a fifth, largely due to China, but also South Korea and Japan. Asia’s LNG market ...

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Russia, Saudi Arabia to ink LNG deal Wed, finalize 3 joint energy projects soon: Russian official

Russia and Saudi Arabia plan to ink an agreement in the LNG sector during Wednesday talks in Riyadh, and also aim to finalize three major energy projects worth more than $2 billion in joint investments within the next three months, as the two countries aim to accelerate work to build a strong bilateral relationship, the head of Russia’s Fund of Direct Investments, Kirill Dmitriyev, said Wednesday. Saudi Aramco is expected to “partner with a major LNG project in Russia,” Dmitriyev said, speaking during an energy forum in Riyadh. “I think ...

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