LNG

Adriatic LNG, the company that owns and operates the largest LNG regasification terminal in Italy located 17 kilometres off the Veneto coastline, is launching its open season in September to allocate regasification capacity for up to 25 years.

Feb 6 (LNGJ) - Equinor, the Norwegian operator of the Hammerfest LNG plant and a main supplier of pipeline gas to Europe, posted a net loss of $230M versus a profit of $3.37Bln in the same quarter of 2018. For the full year, net income was $1.85Bln, down from $7.54Bln in 2018. “Record high production, reduced costs and continued strong capital discipline contributed to solid results in a quarter with lower commodity prices,” said the company. 

   “The flexibility in the gas fields was used to defer production into periods with higher expected gas prices,” added Equinor. “The Johan Sverdrup field was put in production in October 2019 and is currently producing more than 350.000 barrels per day from eight wells. The field is expected to reach plateau during the summer of 2020,” it added.

Norwegian gas network company Gassco said natural gas has now begun flowing through the Polarled pipeline, opening up a completely new province of pipeline gas supply to Europe from Norway in competition to LNG.

UK energy major BP and its partners in the Shah Deniz Consortium announced the start-up of the landmark Shah Deniz II natural gas development in Azerbaijan, including its first commercial gas delivery to Turkey as the starting point for the Southern Gas Corridor to compete with Middle East, North African and US LNG shipments.