Spanish gas grid and LNG terminals operator Enagás reports fall in profits as strategic role in EU gas increases
Enagás, the Spanish natural gas grid and LNG terminals operator, said first-quarter net profits excluding one-time items dropped by 21 percent and revenues also fell even as LNG and pipeline gas delivers rose and 43 percent of the LNG stored in Europe during the quarter was in the tanks of the six Spanish regasification terminals.
Italian natural gas grid and terminals operator SNAM reports rise in revenues as LNG imports double
Italian natural gas grid and LNG terminals operator SNAM reported an increase in annual revenues as LNG imports rose along with storage levels to cope with the European gas crisis.
Turkey counts existing assets like pipelines, storage and energy trading exchange to be hub for Russian gas
Turkish President Recep Tayyip Erdogan said in a speech that Turkey, an LNG importer, was continuing to prepare for the creation of a natural gas hub for Russian pipeline gas on its territory and a road map was being drawn up and aimed at supplying the European Union.
Greece’s Alexandroupolis FLNG chooses Italian shipping and Greek project expertise to manage project
Registro Italiano Navale (RINA), the Italian maritime classification society, and the Italian Asprofos oil and gas design consultancy, have been awarded a contract to help manage the deployment of a floating LNG terminal being developed in eastern Greece to supply the Balkans region.
RINA, based in the port of Genoa, and Greek consultancy Asprofos, have secured a contract to provide project management consultancy (PMC) services for the Alexandroupolis Independent Natural Gas System (INGS) venture, controlled by the Greek Company Gastrade SA.
Main shareholders in Alexandroupolis FLNG project include Gastrade Chairwoman Elmina Copelouzou, Greek shipping company GasLog, Public Gas Corporation of Greece (DEPA) and the Bulgarian gas company Bulgartransgaz.
The project is aimed at increasing security and diversification of gas supplies in the whole region of Southeast Europe.
It will consist of a permanently moored floating storage and regasification unit (FSRU) and a pipeline system of 28 kilometres connecting the floating unit to the Greek National Natural Gas Transmission System (NNGTS).
The FSRU will be stationed in the north-eastern part of the Aegean Sea and about 17.6km from the costal Greek town of Alexandroupolis.
Vessel capacity
The GasLog vessel will have a storage capacity of 153,500 cubic metres, a nominal gas send out rate of 625,000 cubic metres per hour and a peak gas send-out rate of up to 944,000 m³ per hour.
A statement noted that the Alexandroupolis project is being financed through the joint venture’s own resources with co-financing from public funds, the National Bank of Greece and shareholder equity.
Public funds will be provided through the Greek Public Investment Programme, partly through national participation and partly through the European Regional Development Fund (ERDF).
“This terminal is a fast-track project, with the FSRU scheduled to be online by the end of 2023,” said the contract winners.
“RINA and Asprofos will make sure that the contractual requirements of the project in terms of expected performance, quality, safety and planning are met,” they added.
“As well as supporting the owner on technical and managerial planning and oversight the two partners will act as an interface, through a multidisciplinary team of experts covering the different needs of the project,” they stated.
RINA view
Leonardo Brunori, Executive Vice President Energy at RINA, said the society was pleased to be involved in a project crucial to the security of European energy supplies.
“Recent events have highlighted the danger of relying on a single country for our energy needs. RINA has a long and proud track record of delivering FSRU and LNG projects globally having worked on over 200 in the last 15 years,” Brunori noted.
“We look forward to working together with Asprofos to deliver this strategically important terminal enabling Europe to further diversify access to energy,” he added.
Dionysios Belekoukias, Managing Director at Asprofos, said his firm was glad to be working with RINA on such an important project.
“We were awarded the contract because of our combined strong technical competencies. Over the last 35 years Asprofos has gained extensive experience in the natural gas sector having been involved in all phases of the majority of the National Natural Gas System of Greece, including the LNG Terminal in Revithoussa,” explained Belekoukias.
“We have also been actively involved in most of the natural gas projects which have been implemented or are under development in Greece such as Trans-Adriatic Pipeline (TAP), the IGI Poseidon Pipeline, the East Med Pipeline, covering engineering, environmental, permitting, project management, construction management and supervision services,” he added.
Italian energy company Eni reports Italy’s pipeline gas supply from Gazprom was cut again by one third
Italian oil and gas company and LNG project developer Eni said on July 11 that the Russian pipeline gas company Gazprom was further reducing its supplies.
Spanish gas network owner and LNG terminal operator reports 12.5 percent rise in first-half imports
Enagás, the Spanish natural gas network operator and LNG terminal owner, said its terminals unloaded 126 LNG cargoes in the first half of 2020, 12.5 percent more than in the same period of last year as gas demand in Spain begins to return to pre-Covid-19 levels.
