Tuesday, January 16, 2018

Europe News

Norway's 2017 Pipeline Gas Exports up 8 pct

File Image (CREDIT: AdobeStock / (c) Pisotsckii)

Norway's pipeline exports of natural gas to Europe rose by eight percent in 2017 to a record of 117.4 billion standard cubic metres, pipeline systems operator Gassco said in a statement on Thursday.   Reporting by Terje Solsvik  

ICE Moving Oil Contracts to U.S. as MiFID II Implement

File Image (CREDIT: AdobeStock / (c) scanrail)

The Intercontinental Exchange (ICE), one of the world's biggest commodity exchanges, is shifting the trading of some oil contracts to the United States, the exchange said in a statement, as customers balk at new European Union rules. The EU's revamped Markets in Financial Instruments Directive…

Russian Gas 2017 Exports to Europe at All-Time High

File Image: A typical LNG Carrier at Sea. As U.S. export infrastructure grows, EU countries now have more options. (CREDIT: MISC)

Exports to Europe, Turkey hit 193.9 bcm; production up 12.4 percent to 471 bcm. Russia's gas exports to Europe and Turkey rose by 8.1 percent to a record high 193.9 billion cubic metres (bcm) in 2017, Alexei Miller, head of Gazprom, said in a statement on Wednesday…

At 3-Year Low, UK Gas Prices Show No Russian Supply Fears

Wholesale spot British gas prices fell to a three-year low on Friday as ample supply and warm weather outweighed fears of possible cuts in Russian supply via Ukraine. Gas for delivery next week dropped to 43.80 pence per therm, the lowest level since September 2011…

Unwanted Diesel, Jet Ships Could Sink Oil Prices

Backlog of vessels at port threaten loading delays; ships with half a million tonnes taking the long route to Europe. Unwanted diesel and jet fuel cargoes are backing up outside Europe's ports and taking longer, slower routes around the southern tip of Africa, traders say.

Algeria Inks Deal with Vitol to Cut Fuel Imports

© Morad Hegui / Adobe Stock

Algeria's state energy company Sonatrach said it has signed a deal with oil trader Vitol to send crude abroad for refining as the country seeks to reduce a record fuel import bill. CEO Abdelmoumen Ould Kaddour said Sonatrach would pay processing costs before bringing refined fuel back to Algeria…

Clean Energy Investment Rose to $333.5 Bln in 2017

© Robert / Adobe Stock

New clean energy investment worldwide rose by 3 percent last year to $333.5 billion from a year earlier, driven by a surge in solar photovoltaic (PV) installations, research showed on Tuesday. The figure is below 2015's record amount of $360.3 billion, Bloomberg New Energy Finance (BNEF) said in an annual report.

EU, Ukraine Hold Talks on Gas, Tensions Climb

Ukraine's energy minister, EU officials and industry representatives held talks on Tuesday on cutting reliance on Russian gas as tension with Moscow drove home the urgency of finding alternative energy sources and supply routes. Concerns reached a new pitch…

Statkraft in Talks with Firms to Set up Data Centers in Norway

Norwegian power firm Statkraft is negotiating with U.S. and other companies to build large data centers in its home country, favored by a recent change in Norway's tax system, the state-owned utility told Reuters on Thursday. Unlike its Nordic neighbours, which…

Well-functioning Energy Market Key to Europe

Rune Bjørnson

There is a pressing need to change Europe's energy policy framework to make it more predictable and market oriented. “The good news is that it can be done. The ongoing process in Europe of establishing an energy and climate policy framework post-2020 is a golden opportunity to achieve this,” said Bjørnson.

Russia Could Fend off US LNG Plans for Europe

As Russia tightened its grip on Ukraine's Crimea region this month, U.S. and European Union officials were urging the Obama Administration to speed up approvals of more liquefied natural gas (LNG) export terminals. Yet Russian exporter Gazprom's ability to…

Ocean Energy Europe Appoints Co-Presidents

Photo courtesy of Ocean Energy

Ocean Energy Europe has elected Thierry Kalanquin (DCNS) and Simon de Pietro (DP Energy) as its new co-Presidents. The pair will combine the expertise of an industrial scale technology manufacturer and a prominent renewable energy developer to help steer Europe’s…

GDF Suez to Boost Focus on Marine Energy

French utility GDF Suez aims to double its power generation capacity from renewable energy in Europe between 2015 and 2025 and will focus in particular on marine energies, the company said on Tuesday. GDF Suez, with Spain's Iberdrola and Italy's Enel , is one…

Kuwait Petroleum Aims to Boost Outlets for Its Fuels in Europe

Kuwait Petroleum International (KPI) is planning more investments in Europe, including into storage terminals and other oil-related facilities to help to provide more outlets for the fuels it produces. Khaled Al-Mushaileh, KPI's vice president Europe, told…

OMV CEO Warns Against More Russia Sanctions

Europe should avoid more sanctions against Russiaover its role in Ukraine and continue to pursue dialogue with Moscow, the chief executive of OMV , the longest-standing Western trade partner of Russian gas monopoly Gazprom, said. The Austrian energy group signed…

Europe's Energy Sector Hopes for Mild Winter

Mild weather pulls down energy demand, but farmers fear third wet winter will hit revenues. A predicted mild and wet winter might save Europe from the worst impact of a potential Russian gas supply disruption, but it would mean another difficult season for…

BMT and MSI in Joint Alexandroupolis FSRU Terminal Project Award

Photo: BMT

BMT and Metocean Services International (MSI) have been jointly awarded a contract by Gastrade to deploy an Environmental Monitoring System (EMS) and develop metocean criteria to be utilized for the design of the offshore moored FSRU and the subsea pipeline to shore.

Unipec to Ship VLCC of Diesel to Europe from Tianjin

File Image (CREDIT: AdobeStock / (c) Carabay)

Unipec, the trading arm of China's state-owned Sinopec, is shipping its first very large crude carrier (VLCC) of diesel from China to Europe, two sources close to the matter said on Friday. The company is loading the vessel with 10 parts-per-million (ppm) diesel from its refinery in the northern port city of Tianjin…

Gazprom August Gas Exports to Europe Down 3.5 pct

Russia's Gazprom exported 13.81 billion cubic metres (bcm) of natural gas to Europe and Turkey in August, down 3.5 percent from July, a company spokesman said on Tuesday. It exported 14.32 bcm of gas to Europe and Turkey in July. Gazprom, which accounts for around 8 percent of Russia's GDP…

Norway Still W.Europe's Top Gas Supplier, Russia Second

Norway remained Western Europe's top gas supplier in 2015, but Russia narrowed the gap from the previous year, preliminary data showed on Monday. Russia is the top supplier for the whole European Union - supplying around a third of its gas - when countries in Eastern Europe are included.