Russian LNG producer Novatek reports operating result with Western sanctions still delaying Arctic LNG II
Novatek, the Russian natural gas company and operator of the Yamal LNG export plant and developer of the delayed Arctic LNG II venture, has reported positive operating data for the second quarter of 2024 amid continued Western sanctions.
Germany’s fourth floating LNG import terminal receives operating permit at Mukran off Baltic Sea island of Rügen
Deutsche Regas GmbH, the operator of the floating liquefied natural gas import terminal at the Baltic Sea port of Lubmin, said operating permits had been received at the company’s second German Baltic regasification terminal, located at the port of Mukran on Germany’s largest island of Rügen to allow operations to formally begin.
German gas market issues liquidity buffer total taking account of LNG and the Dutch Groningen gas field closure
Trading Hub Europe GmbH, Germany’s market area manager for the nation’s natural gas system and now including deliveries to three LNG import destinations, has issued its latest report on the calculation basis for accounting charges and liquidity buffers in the German natural gas market.
Logistical LNG vessel for Russian LNG trading heads to Murmansk after 13,000 nautical miles voyage from Korea
An important logistical link in Russian liquefied natural gas trading, a huge floating storage unit called “Saam FSU”, was heading past the Norwegian coast on June 20 for its destination port of Murmansk.
Russian PM plans measures to increase LNG market share in the Asia-Pacific by Northern Sea Route
Russian Prime Minister Mikhail Mishustin said the government was taking additional measure to increase liquefied natural gas cargo deliveries to the Asia-Pacific by the Northern Sea Route to offset the loss of pipeline gas customers in the European Union.
Norway’s Equinor benefits from new role as main pipeline gas supplier to Europe with record earnings
Norwegian energy major Equinor, the main supplier of pipeline natural gas to Europe and an LNG producer and exporter, reported soaring profits and record cash flow from becoming the primary gas supplier to its European neighbours after the cutting of Russian gas pipelines.
Australian Government gives quarterly LNG market overview with 2023 dependent on state of demand in China
The Australian Government said its LNG export revenues are forecast to reach A$90 billion (US$60.2Bln) in 2022–23 on record high global energy prices and a lower Australian dollar.
China National Petroleum Corp and Gazprom agree yuan-roubles gas payments amid Mongolia pipeline plan
China National Petroleum Corp. Chairman Dai Houliang and Gazprom's Chief Executive Alexey Miller have held a video conference as part of the Russian Eastern Economic Forum 2022 in Vladivostok and signed an agreement related to natural gas supplies as a plan to put a pipeline through Mongolia to China advanced.
European natural gas and LNG values quoted at $74 per MMBtu as Gazprom Nord Stream set for three-day halt
Russian natural gas deliveries to Germany via the Nord Stream I pipeline, the main route for Russia’s gas exports to the European Union, will be temporarily halted again for three days on the night of Wednesday August 31.
Albania and Bulgarian gas firms sign projects deal at an event attended by Ex-US Secretary of State Pompeo
Two Balkan natural gas and utility companies, Albania's Albgaz and Bulgaria's Overgas, have signed an accord to cooperate on projects to diversify supplies in the region at an event attended by former US Secretary of State Mike Pompeo.
Pompeo attended as the Chairman of US company Linden Energy’s Advisory Board. Linden has agreed to take a 50 percent stake in Overgas subject to regulatory approval.
The accord outlined the parameters of the planned Albanian-Bulgarian cooperation to secure natural gas from non-Russian sources via commercially viable projects driven by the private sector.
“We are excited to begin working with a fellow regional gas company such as Albgaz. The signing of this agreement is a first step in regional cooperation to diversify gas supply to the Balkans,” said Svetoslav Ivanov, Executive Director of Overgas.
The agreement was signed in the Albanian capital Tirana and representatives of each company attended along with Albanian Prime Minister Edi Rama.
Linden Energy was represented by Stephen Payne, the company's President and company founder and by former Secretary of State Pompeo.
The US company in July 2021 signed an agreement to acquire 50 percent of Overgas, the independent Bulgarian gas trading company and Bulgaria’s largest privately-owned gas firm.
Linden Energy is focusing on energy project development and was founded in 2013 by Payne.
LNG record
“Payne has a history in the international energy sector as he has negotiated over 27 million tonnes per annum of LNG sales, was instrumental in the development of several large LNG export projects in the US and several major international pipelines,” said the statement on the signing event.
It noted that Linden has other projects under consideration in Eastern Europe and South Asia.
Linden Energy is additionally a 10 percent capacity holder in the Gas Interconnector Greece-Bulgaria (IGB) pipeline.
“As one of the only US companies involved in the Balkans gas trade, Linden Energy is excited to take this first step as part of Overgas in partnership with Albgaz,” stated Payne.
Secretary Pompeo said that at a time of great uncertainty in the European energy market he was proud to be a part of a team that is addressing this issue head-on.
“The Balkan region is one of the most vulnerable in terms of the lack of energy diversity and the signing of this accord is a strong step in the right direction,” Pompeo declared.
