LNG

The Central Asian republic of Kazakhstan with some of the world’s largest oil and gas fields on its territory and part of an infrastructure network with Russia to supply natural gas to China in competition to LNG, is boosting its own domestic gas output as well as its role as a gas transit nation.

July 26 (LNGJ) - Subsea 7, the Norwegian-listed contractor working on projects including the Sakarya gas field in the Black Sea, Turkey’s largest ever discovery that will reduce LNG needs, said it expected a rise in revenues as “pricing and contract terms showed continued positive momentum” during the second quarter.

   The company reported an 11 percent rise in earnings to $162 million from $134M in the same quarter of 2022. Quarterly revenues jumped to $1.51 billion from $1.24Bln. “The backlog is $10.4 billion, of which $3.0Bln is to be executed in 2023 and $4.3Bln in 2024,” it said. Subsea 7 added that contracts included “notable awards” such as the Sakarya Phase 2A integrated subsea development project in Turkey.

Turkey has defended its natural gas storage policies as it increases shipments of LNG from the US while also receiving gas supplies from Russian pipelines and from neighbouring Iran.

Enagás, the Spanish natural gas network operator and LNG terminal owner, said its terminals unloaded 190 LNG cargoes in the first nine months of 2020, 4 percent more than in 2019, including 64 shipments in the third quarter as the gas market recovered to pre-Covid-19 levels.

Jan 6 (LNGJ) - The Bulgarian natural gas network firm, Bulgartransgaz, said Russian company Gazprom had started European gas deliveries via the new TurkStream pipeline to Turkey, providing more competition for LNG. The capacity flows are about 3 billion cubic metres of gas to Bulgaria via TurkStream, replacing a route that formerly passed through Ukraine and Romania.

   “Russian gas deliveries not only for us but also for Greece and North Macedonia are being carried through the new entry point,” said Bulgartransgaz Chief Executive Vladimir Malinov.

   Gazprom is building TurkStream in two pipelines, each with an annual capacity of 15.75 Bcm. The first pipeline is aimed at supplying Turkey and the second would run further from Bulgaria to Serbia and Hungary. The Bulgarians said they hoped to be able to make shipments to Serbia by May 2020 and complete the whole section by year-end.

Greece, Cyprus and Israel have signed an agreement to build a 1,900-kilometre subsea pipeline to transport natural gas from the East Mediterranean to West European markets in competition to LNG.

Turkey, Europe’s second-largest liquefied natural gas importer, has deployed a new floating storage and regasification unit at the port of Aliaga, near Izmir.