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Companies & Finance

EIB approached for Italian gas and solar finance

he European Investment Bank (EIB) is mulling over an application from Italy's regional gas distribution company in Tuscany, Toscana Energia, for the development of its transmission network and some small solar photovoltaic projects. The sponsor is applying for €75 million ($95 million) of the $190 million total cost of the scheme.

4 May 2012
Companies & Finance

Bank mandated for Norwegian players' second LNG vessel - report

Norwegian developer Hoegh LNG has mandated local DNB Nor as structuring bank for a $273 million project finance deal to back a floating storage and regasification unit (FSRU) vessel, Reuters service PFIE reported on Thursday.

4 May 2012
Companies & Finance

E.On posts 50% income slide on Germany’s nuclear shutdown

Germany energy company E.On’s 2011 net income fell sharply, to nearly 50% lower than in the previous year on the back of the German government’s decision to curb the country’s nuclear industry, the company said on Thursday.

4 May 2012
Shah Deniz 1 platform in the Caspian Sea Supply & Demand

Is Nabucco worth the trouble?

The news that Hungary's MOL is thinking about withdrawing from the Nabucco consortium has raised new questions over not just the viability of the ambitious project, but also the economic feasibility of transmitting gas from the Caspian region to the European market.

4 May 2012
EU Energy Policy

Oil-indexation debate reaches Parliament

With oil and gas prices diverging, Gazprom has come under increasing pressure to link more of its long-term supply agreements to spot gas markets instead of oil. The issue was raised during last week’s EU-Russia event in the European Parliament.

4 May 2012
Exploration & Production

Russia gas processing capacity may reach 132.5 bcm/y by 2030

Russia’s gas processing capacity could increase to between 125.5 and 132.5 billion cubic metres per year by 2030 under a new gas sector development scheme. Processing capacity of 92.5-99.5 bcm is expected to be commissioned between 2016-2020, according to the website of the second international Big Chemistry Forum.

4 May 2012
Pipelines, Storage & Power

Government seeks comments about gas future

The UK government is set to publish a new gas generation policy document this autumn, and the signs are that it will be favourable for the fuel.

3 May 2012
Policy & Regulation

Bidding zone resizing may help fight unplanned power flows

The splitting of the German bidding zone for power transmission capacities into smaller units may help provide a short-term solution to the problems caused by unplanned electricity flows mainly from North Germany which have threatened the stability of electricity grids in Central Europe, a top European Commission official said last week.

3 May 2012
Companies & Finance

Cadogan reports 2011 net profits of $153.1 mln

British oil and gas company Cadogan Petroleum, which has onshore gas, condensate and oil assets in Ukraine, made net profits of $153.08 million in 2011 versus $1.318 million in 2010, thanks to "the completion of a major transaction with Eni resulting in the Italian company owning 60% of the group's interest in the Zagoryanska licence and 30% of the

3 May 2012
Companies & Finance

BG sells Comgas stake for $1.8 bln as Q1 profits rise

BG Group reported a 21% increase in operating profits for the first quarter on Thursday, as well as announcing the $1.8 billion sale of its 60% interest in Brazilian gas distributor Comgas.

2 May 2012
Exploration & Production

Marine environment uncontaminated by Elgin leak

Chemical analysis of fish samples at the Elgin platform in the North Sea, which has recently been closed due to a gas leak, has shown that there is no hydrocarbon contamination, according to the Scottish government.

2 May 2012
Supply & Demand

Diversity helps France cope with LNG strike

France’s diversity of supply meant it was able to limit the effects of recent industrial action at its LNG terminals, argues Astrid Madsen.

2 May 2012
EU Energy Policy

EU energy committee calls for MiFID exemptions

The EU Parliament’s committee on Industry, Research and Energy (ITRE) has expressed broad support for energy companies that want to be exempt from position limiting under new market legislation proposed by the Commission.

2 May 2012
LNG

Qatar may supply LNG to Lithuania terminal

Qatar is interested in supplying gas to Lithuania’s LNG terminal project, which is being developed by Klaipedos Nafta, the Baltic Business Daily reported on Tuesday.

1 May 2012
Pipelines, Storage & Power

Five-year deal struck for E.On gas storage facility

Hong Kong based Noble Group gained access to the 60 million cubic metre gas (MMcm) storage facility at Holford in the UK on Monday after striking a deal with E.On Gas Storage UK.

1 May 2012
Companies & Finance

BP shares drop after disappointing results

BP reported a 25% drop in first quarter net profit from $7.3 billion to $5.9 billion on Tuesday because of a poor downstream environment and lower output in the upstream portion of the business.

1 May 2012
Pipelines, Storage & Power

Europe faces choice: gas or coal - E.On

European Union countries face the choice of what will be their main source of energy for the production of electricity – gas or coal, E.On Ruhrgas Chief Executive Klaus Shäfer said at the Russian Gas Society’s seventh International Gas Conference in Brussels on Friday.

30 April 2012
LNG

Centrica looking to secure deal with Qatargas

Centrica has been angling to give Qatargas a stake in its business, and a board seat, in return for a 20-year LNG supply deal worth up to £30 billion ($49 billion), the Financial Times reported on Sunday.

30 April 2012
Exploration & Production

Regulation changed for injured North Sea workers

The UK’s Health and Safety Executive has introduced new regulation saying that injuries in the North Sea need only be reported if they cause workers to be out of action for more than seven days, according to an article in The Guardian on Friday.

30 April 2012
Exploration & Production

Scottish and UK economies revised on oil and gas re-map – report

The Scottish economy grew at a rate of 0.5% in 2011, half the rate of growth of the UK economy in the same time period, if North Sea oil and gas extraction is excluded, according to a new report by think tank the Centre for Public Policy for Regions (CPPR).

30 April 2012

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