The president added that foreign investors are indeed welcome to be a part of the TAPI gas pipeline, which will run to India through Afghanistan and Pakistan. It is well to be noted that the natural gas that is transported through pipelines happens to be more attractive as compared to LNG since it doesn’t have to be shipped and therefore has lower emissions, said the CEO of TAPI Pipeline, Muhammetrmyrat Amanov, at the conference. The pipeline will go on to contribute in terms of reduced CO2 emissions and also help in meeting goals as far as the Paris Agreement is concerned, in addition to the sustainability of the TAPI countries.

It is well to be noted that Turkmenistan is developing projects so as to lower emissions, including a 10 MW solar wind power plant, as per the organisers of the forum. Construction for the same has begun and is anticipated to start operations by January 2024 at Altyn Asyr Lake.

Country’s energy minister, Hajymuhammet Rejepmyradov says Turkmenistan itself is developing projects to lower emissions, including a 10 MW solar-wind power plant, according to organisers of the forum. Construction has begun and is expected to start operations in January next year at Altyn Asyr Lake.

Notably, the country happens to be the world’s fourth largest emitter of methane from oil and gas production with 4.9 million metric tonnes per year, positioned after Russia, the US, and Iran, confirmed the principal lead of the Energy Transition, COP 28 UAE, Saamir Elshihabi.

Significantly, the UAE has made investments in oil, gas, and renewable energy sectors across Turkmenistan in the last couple of decades through Dragon Oil, ADNOC, and Masdar, and the country is confident that this support is going to further serve Turkmenistan as an international provider, said Ahmed Ali al Sayeh, the UAE Minister of State.

The fact is that Turkmenistan has the fourth-largest gas reserves in the world after Qatar, Iran, and Russia. It has around 50 Tcm of proven reserves, the Chairman of Turkmengaz, Batyr Amanov, said at the forum. At present, the second-stage drilling contract for the Galkynysh Gas Field is being negotiated.

It is well to be noted that Turkmenistan stands as the largest supplier of gas through pipelines to China, said President of CNPC Middle East, Wang Guihai. ADNOC has gone on to participate in the refining, drilling, trading, upstream, and infrastructure of Turkmenistan for the last 15 years, as per the EVP of ADNOC International, Mohamed Saif al Aryani.

In yet another development, Turkey too is all set to begin working on the transit of gas to Europe from Turkmenistan, as per a statement by Recep Erdogan, the Turkish President, in December last year.

The post Turkmenistan Plans To Export Natural Gas To European Nations appeared first on Oil&Gas Advancement.

As per the Bulgarian company, it is being mentioned in its draught Ten-Year Network Development Plan for the 2023–2032 period, for which it opened a public consultation on April 21.

Mentioned in the plan is an infrastructure project that is worth almost EUR 860 million, not including VAT, and envisages the formation of a 250-kilometre pipeline that would stretch from Bulgaria’s Sofia region to Greece’s Sidirokastro.

The pipeline is to be suitable for transporting almost 100% hydrogen and shall go on to create conditions when it comes to hydrogen’s bidirectional cross-border transmission between both countries.

It is well to be noted that the project on the Bulgarian side happens to be in the early phase of development and is anticipated to be commissioned by 2029, as per the document.

Bulgartransgaz has gone on to say that the scheme happens to have the full potential to be awarded the stature to fall under Important Project of Common European Interest- IECEI.

Bulgartransgaz also states in the document that it intends to retrofit the present infrastructure related to gas transmission within the country so as to ensure its suitability for functioning with up to 10% hydrogen.

The cost of this upgrade is anticipated to touch EUR 438 million, excluding VAT. The interested parties of the concerned operation can share their opinions, comments, and proposals on the draught 10-year plan by April 30.

The post Bulgaria, Greece Ink Plans For Bidirectional H2 Distribution appeared first on Oil&Gas Advancement.

The G7 coalition, in a latest move will keep the capping of $60 per barrel when it comes to seaborne Russian oil, an official confirmed. This is despite the global crude prices which are rising and also calls by certain countries so as to lower revenues of Moscow.

Apparently, the G7 as well as Australia have come up with the decision to maintain capping over the past few weeks after a review was held in December of the $60 price. The idea is to lessen Russia’s capacity to finance its war.

This comes post four weeks of benchmark oil price gains that were helped by the output cut that was announced by OPEC+, which has the organisation of petroleum exporting nations as well as allies that are led by Russia. It is well to note that the Russian crude has been sold at a discounted price of $30 to Brent, as per an official.

As per the coalition officials, the price cap happened to be working to limit the Russian revenue as well as maintain market stability; however, it also said that they would partner to make sure to the point monitoring as well as enforcement. The coalition is also seeking to intensify efforts when it comes to taking care of the price cap as well as the sanctions that have been imposed by Russia, including the use of deceptive practises so as to access insurance as well as other coalition services when it comes to oil being traded above the cap.

Notably, the collation members are planning to share guidance so as to help the service providers pinpoint the red flags for evasion, like the manipulation of ships tracking of location or even failure when it comes to itemising shipping, freight, and insurance costs separately from oil.

The US Treasury also issued a warning on April 17 about a probable evasion of the price cap on oil that is being exported through the Eastern Siberian Pacific Ocean pipeline as well as eastern Russian ports.

The US Treasury Department recommended that the traders go on to retain their documents that showed Russian oil as well as oil products were purchased either at the cap or below it. Significantly, the oil price cap bans G7 as well as EU companies from offering insurance, transportation, and financing services for Russian oil and products if they are being sold above the price cap.

As expected, Britain and the US too have imposed Russian oil import restrictions. According to an official, the recent IEA report stated that the G7 sanctions had indeed been effective in not putting a halt on global crude and product supplies, but at the same time, they had also curtailed Russia’s ability to get the much-needed export revenue.

As per the IEA, March oil revenue of Russia increased by $1 billion M-o-M to $12.7 billion; however, it was 43% lower than the year before.

The post G7 Confirms Maintaining The Russian Oil Price Cap At $60 appeared first on Oil&Gas Advancement.

Russia as well as Iran, who both happen to be under sanctions by the west, are moving closer to each other so as to support their respective economies and to also undermine western sanctions, which are being termed unjustified by Tehran and Moscow. Western sanctions on Russian oil products have gone on to reshape the global fuel markets as the tankers are now bound to take longer routes.

Apparently, in February and March of this year, Russia supplied 30,000 tonnes of gasoline as well as diesel to Iran, as confirmed to Reuters by two sources privy to the situation.

It is well to note that all the volumes happened to be supplied through rail from Russia via Turkmenistan and Kazakhstan. The gasoline cargoes were thereafter sent by Iran to neighbouring nations, including Iraq, confirmed a source.

Iran is a big oil producer with its own set of refineries; however, recently, its consumption has gone beyond domestic fuel production, specifically in its northern provinces.

Russia had already supplied small volumes of fuel to Iran through tankers via the Caspian Sea, as happened in 2018.

Russian oil companies are presently inclined towards exporting diesel and gasoline to Iran through rail since exports by sea are bound to be charged heavy freight rates, and, of course, there is a price cap that is imposed by the G7 countries. That said, the rail exports also face bottlenecks along the route.

As per one of the sources, the fuel supplies to Iran are expected to increase this year; however, there are numerous issues pertaining to logistics because of rail congestion, which may keep exports from booming.

The post Russian Fuel Supplies To Iran Through Rail Begin – Sources appeared first on Oil&Gas Advancement.

One of the German gas pipeline operators says in a study that almost 300 terawatt hours (TWh) of clean hydrogen made from North Sea offshore wind power can be transported by the grid in a year. This would end up meeting 15% of the overall demand for synthetic fuel, which the European Union has forecasted for 2050.

It is well to be noted that Germany as well as the European Union are looking to shift the future energy production towards renewables so as to develop, import, and market hydrogen from wind as well sunshine to thwart climate-warming gases. Apparently, Germany, Belgium, Denmark, as well as the Netherlands, last year committed to build a minimum of 150 gigawatts of offshore wind in the North Sea by 2050. Significantly, the EU had a total of 15 gigawatts of offshore wind capacity in 2021.

The four signatories of the so-called Esbjerg declaration shall meet up in Belgium next month. Analysts from the DNV consultancy had asked whether the offshore wind power has to be converted on-site into hydrogen through electrolysis plants or whether the power has to be brought directly from the coastal electrolysis facilities. The fact is that the coastal options remain the most cost-efficient when it comes to wind power that is produced less than 100 kilometres from the land.

On-site hydrogen production at sea will go on to save on costly new electrical cables that have a far lower energy capacity as compared to pipelines and will thereby beat the seaborne hydrogen import costs from overseas.

The cost of North Sea hydrogen could hit 4.59 euros a kg by the end of this decade, falling from 3.24 euros per kg in 2050.

The post North Sea Hydrogen Pipelines Have A Huge Potential- Study appeared first on Oil&Gas Advancement.

He went on to say that the construction of Power of Siberia 2 as well as the Far Eastern Pipelines would primarily require somewhere around $67 billion in direct investment and $27 billion in related industries such as metallurgy, chemicals, as well as cement.

According to Novak, it is as of now important that Russia diversifies its export structures, considering the fact that there have been losses incurred from its European businesses. Prior to the war in Ukraine, this amounted to 49% of total Russia external gas sales.

Novak further said that there was a 48% surge in 2022 in the Russian supplies to China via Power of Siberia 1, which happens to be a 3,968 km pipeline, and that in turn helped in attaining a record of 15.4 billion cubic metres throughout the year.

Gazprom, which happens to be the Russian state energy company, looks forward to delivering almost 50 bcm of gas by making use of the 2600-kilometer Siberia 2 pipeline by the end of this decade.

It is well to be noted that the Far Eastern Line happens to be at an early stage of development. Gazprom has already inked an agreement with China National Petroleum Corporation last year in the same month, and the two nations have also gone on to enter a draught intergovernmental agreement last month end which included a possibility to make payments in yuan and rubles. Apparently, the Power of Siberia 2 is going to carry gas across Mongolia through the Krasnoyarsk and Irkutsk regions. The Far Eastern route is going to come from the Sakhalin Islands, which are situated in the north of Japan.

The post Two Gas Pipeline Construction From Russia To China Planned appeared first on Oil&Gas Advancement.

Saudi Arabia, the world’s top oil exporter, unexpectedly raised the official selling prices for its flagship Arab Light in March amid hopes for a rebound in demand, particularly from China after Beijing ditched its zero-COVID strategy.

State-controlled Saudi Aramco increased the official selling prices for crude to $2 a barrel above the regional benchmark, 20 cents more than the price for this month.

“The official selling price decision suggests the Saudis see good demand in Asia,” Bob McNally, president of Rapidan Energy Group and a former White House official, told Bloomberg Television. It’s likely that China will be “back in business in the second quarter.”

Many OPEC members have sounded bullish about China — perhaps the single-biggest factor determining oil-price moves this year .

The group’s secretary-general, Haitham al-Ghais, said he was more upbeat on China. And the head of Kuwait’s state energy company said to Bloomberg that consumption in the world’s biggest crude importer was already on the rise and that it’s “not a dead-cat bounce.”

The post Aramco to supply full crude contract volumes to Asia refiners in March appeared first on Oil&Gas Advancement.

That said, the report did not elaborate on the gas volumes that are going to be involved as part of this LNG supply deal. The Chinese National Petroleum Corporation agreement is going to be the second major LNG deal between China and Qatar that has been struck lately.

It was in November last year that Qatar Energy had signed a deal with one of the Chinese firms for the long-term LNG supply to China with an agreement of sales and purchase for 27 years and the yearly volume being 4 million tonnes.

According to the Reuters report, the Chinese National Petroleum Corporation has already agreed on the majority of terms with Qatar, and the new deal is expected to be similar to the previous one.

It is well to be noted that Qatar is going to expand its North Field capacity so as to achieve an LNG production capacity of 110 million tpa by 2027, which is going to be significantly higher than the current 77 million tpa capacity. The expansion is expected to be carried out in two phases and will cost to the tune of $50 billion.

According to Qatar Energy, it has already ended its contracts pertaining to construction as well as long-term charter agreements for 60 LNG carriers, which are going to be a part of its LNG shipbuilding endeavours that will in turn help in the North Field’s expansion project.

The post A Mega LNG Deal About To Be Struck Between China And Qatar appeared first on Oil&Gas Advancement.

Apparently, the prime minister met with the relevant ministers as well as the CEOs of various energy groups such as Tema, Snam, Enel, and Eni on February 6 and outlined the need to cooperate with Africa when it came to energy supplies.

The REPowerEU plan is to make sure that the EU’s dependence on Russian fossil fuels ends with a total of around 300 billion euros in funds. Besides, tackling the climate crisis also happens to be on its agenda.

This shall include untapped loans of almost 225 billion euros that will be made available under the NextGenerationEU pandemic recovery plan that was launched in 2021.

The European Commission is also planning to fund it with the aid of an additional 20 billion euros in grants by way of selling EU Emission Trading System allowances. ETS system which was launched in 2005 compels the power companies, creators as well as airlines to purchase permits so as to cover each tonne of their emission of carbon dioxide.

Snam’s which happens to be an Italian gas grid operator, its chief executive told Reuters that the group is looking to take the support in order to invest 2.5 billion euros so as to push the capacity of domestic network.

The funds coming from RePowerEU can also be utilised to build the SoputH2 corridor, a link that brings hydrogen which will be produced in Northern Africa and go to North of Europe, as per someone who is well-versed with the matter.

The right-wing government in Italy intends to go ahead with talks with Brussels on proposed use of the funds of EU by April end as per a statement coming from Rome.

The post Italy Intends To Be Energy Hub of Europe With Funds From EU appeared first on Oil&Gas Advancement.

TELSF will hold a non-binding call for interest in a total of 2.5 billion cu m/year (242 MMcfd) of regasification capacity between Jan. 16 and Jan. 27, 2023, followed by a binding open season in March 2023. Interested parties would commit to a 5-year term.

The terminal will use Hoegh LNG AS’s 400-MMcfd FSRU Cape Ann, already under charter to TotalEnergies (OGJ Online, Nov. 29, 2022).

TotalEnergies said the war in Ukraine has exposed the need for the European Union and France to diversify gas procurement in line with the European Commission’s REPowerEU plan. The French law on emergency measures to protect purchasing power includes provisions aiming at securing the country’s gas supply and introduces a specific regime for the operation of an FSRU on French territory, the company added.

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