Region: Europe Category: Oil and Gas Frequency: Every Thursday
About: EurOil analyses key trends such as the influx of private equity into the North Sea and how it is shaping the basin's future. The monitor also provides key insight on major trends such as decommissioning and the development of frontier regions like West of Shetland. Midstream developments also take prominence, with deep analysis of the region's gas needs and how they will be met in the future.
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France has joined the list of European countries beefing up their LNG capacity with new terminals following the arrival of the country’s first floating storage regasification unit at the northern port of Le Havre.
Expansion of the Southern Gas Corridor pipelines carrying Azerbaijani gas to Europe is on hold pending confirmation that Europe will buy the gas. Baku's offensive to retake Nagorno-Karabakh could further complicate things.
The discovery is preliminarily estimated to contain 25-130mn boe in gross recoverable resources on a P90-P10 basis, with a mean of 70mn boe, DNO said. The resources were located in a Jurassic reservoir zone with high-quality sandstones.
Norwegian natural gas production continued to decline in August, according to the Norwegian Petroleum Directorate (NPD), in an unwelcome development for European customers ahead of next winter.
Norway’s state-owned Equinor announced last week a NOK4bn ($374mn) development plan for the Eirin gas discovery in the North Sea, the country’s petroleum ministry announced at the end of last week.
Parliament votes to end imports despite exemption from EU-wide ban until end-2024.
US oil major ConocoPhillips has reached a 15-year commercial agreement for the obtainment of approximately 1.5mn tonnes per year of additional regasification capacity at the Netherlands’ Gate LNG terminal, the company revealed September 18.
Germany will strengthen its LNG capacity to retain energy diversity in the face of a potential supply shortage, a key official in the country’s energy ministry stated at an industry event on September 19.
Oil refineries worldwide are grappling with challenges in meeting the demand for diesel, a crucial fuel that powers various sectors of the global economy, Bloomberg reported on September 19.
EU Energy Commissioner Kadri Simson called on September 14 for the bloc to curb its Russian LNG imports with the end-goal of eliminating them completely, as Brussels considers ways of further strangling Moscow’s revenue source.
PGNiG, a subsidiary of Poland’s ORLEN Group, has set its sights on operatorship of the only CO2 storage licence to be awarded in the Norwegian Barents Sea, after signing a letter of intent to team up at the project with current operator Horisont