Region: Europe Category: Oil and Gas Frequency: Every Thursday
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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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Energean makes strategic sale of assets to Carlyle Energy valued at $945mn
The operator of Israel’s offshore Karish gas field in the East Mediterranean, Energean, has announced the sale of its Egyptian, Italian and Croatian portfolio to Carlyle International Energy partners for an “enterprise value” of $954mn.
Turkey’s EPDK releases 2023 gas data
Turkey’s Energy Market Regulatory Authority (EPDK) reported this week in its latest annual gas report that Turkey imported 50.48bn cubic metres of natural gas during 2023, a decline of 7.64% from the 54.22 bcm of gas imported during 2022.
SOCAR and Germany's VNG sign MoU
Equinor’s Hammerfest LNG facility shut down again
Norwegian energy major Equinor revealed that its Hammerfest LNG facility has been shut down following a power outage.
Fossil fuel use reaches global high
A new report finds that fossil fuel energy use rose to a record high in 2023, despite efforts to combat climate change.
Global gas flaring at highest level in five years
In 2023, the volume of gas flared globally rose by 9bn cubic metres to 148 bcm, the highest level since 2019, according to a new World Bank report. This is despite efforts to curtail the practice because of climate change.
Israel emerging as source of tension in Azerbaijan’s special relationship with Turkey
War in Gaza and domestic politics in Turkey create cracks in Azerbaijani-Turkish alliance.
Polish state energy giant to rid of media branch to show political independence
Poland’s state-controlled Orlen is mulling the sale of its media branch as its new chief executive seeks to demonstrate to investors that his group is abandoning any effort to exert political influence.
Rerouting of Russia trade to add more Caucasus, Central Asia growth in 2024-2025, says Oxford Economics
Relatively small component of expanded commerce comes from evading sanctions on particular goods, analysis argues.
Energean cashes in €883mn from Croatia, Egypt and Italy asset sale
Energean will offload assets in Croatia, Egypt and Italy as part of a strategy to focus on core gas development projects.
OMV Petrom confirms new gas target and tweaks decarbonisation mix under updated Strategy 2030
Romania’s energy group OMV Petrom confirms the new gas targets based on the Neptun Deep offshore project while adding adjacent Han Asparuh project currently in an exploration phase, and revises the mix of instruments in zero carbon business lines.
JAPEX takes full control over Norwegian joint venture
Japanese upstream player JAPEX has taken full control of its Norwegian oil and gas joint venture with London-listed Longboat Energy, after acquiring the remaining 50.1% interest in the enterprise.
Scotland misses another annual emissions target
Scotland’s government has missed one more of its annual targets for curbing greenhouse gas emissions.
Greenpeace accuses OMV of ignoring risks posed by naval mines to Neptun Deep project
Neptun Deep is the largest natural gas project in the Romanian Black Sea and Romania’s first deepwater offshore project.
Perenco purchases minority stake in Golar LNG
Independent oil and gas firm Perenco has acquired a 9.9% interest in marine infrastructure firm Golar LNG according to a filing made with the US Securities and Exchange Commission.
EU faces another gas conundrum as contract for Russian gas through Ukraine nears expiration
EU member countries and companies have approached Caspian Sea gas producer Azerbaijan with a scheme designed to cover the loss of Russian gas supplies reaching Europe through Gazprom’s pipeline system transiting Ukraine.
European elections see shift to the right
Istanbul-listed Zorlu Enerji sells its stakes Israel-based units to local partner Edeltech
Uniper ends Gazprom contracts after Stockholm court win
German energy group Uniper has terminated its long-term contracts with Russia’s Gazprom Export for gas supply, after the arbitration tribunal in Stockholm earlier this month granted it the right to do so.

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