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Companies & Finance

DONG gains foothold in UK end-user market with acquisition of Shell’s Gas Direct

DONG Energy’s acquisition of UK gas supplier Shell Gas Direct will give the Danish company an opportunity to diversify its supply portfolio of end-users, analysts told Interfax on Wednesday.

19 October 2011
Pipelines, Storage & Power

Q&A: Harry Sachinis, CEO of DEPA

Interfax talks to Harry Sachinis, Chairman and CEO of Greece’s Public Gas Corporation (DEPA), about the prospect of bringing Caspian gas to Europe via the planned 10 billion cubic metres per year Turkey-Greece-Italy (ITGI) pipeline.

19 October 2011
Pipelines, Storage & Power

ITGI’s role in meeting European demand

Harry Sachinis talks to Interfax about the ITGI pipeline and the role DEPA has in the project.

19 October 2011
Exploration & Production

Brussels turns focus on Arctic drilling

EU Commissioner for maritime affairs and fisheries Maria Damanaki has called for a non-discriminatory level playing field for all energy companies operating in the Arctic region.

18 October 2011
Exploration & Production

Cuadrilla says key seismic report still pending

The results of a crucial report into the possibility of a link between UK explorer Cuadrilla Resource’s drilling for shale gas in the North of the UK and earthquake activity have not yet been announced, Cuadrilla spokesman Paul Kelly told Interfax on Tuesday morning.

18 October 2011
Supply & Demand

Norway to miss 2011 production targets – Deutsche Bank

Norway may fall short of its 2011 production target by as much as 5 to 6 billion cubic metres due to ample supplies to Europe from Libya and Qatar, analysts at Deutsche Bank said in its Commodities Weekly report published late on Friday.

17 October 2011
Policy & Regulation

GDF Suez fights gas price freeze

French major GDF Suez has launched a formal complaint to the French government over its decision to freeze domestic gas prices this winter, a move the oil and gas giant estimates will cost it €290 million ($399 million).

17 October 2011
Exploration & Production

Spain to drill Basque gas deposits

The Spanish government along with two US companies are going to explore natural gas deposits in the Basque region in the North of the country, and are planning on investing €100 million ($137 million) in the venture.

17 October 2011
Exploration & Production

CEE countries back Poland’s shale gas aspirations

Hungary and Slovakia have both expressed their support to Poland’s plans to utilise the country’s substantial shale gas reserves, stating that it could become a significant source of gas in the medium term for Central European countries which are heavily dependent on Russian gas imports.

17 October 2011
Policy & Regulation

Consumer organisation fails to block EDF’s Belgian acquisitions

The EU General Court on 12 October dismissed a challenge by the Belgian consumer protection organisation Association Belge des Consommateurs Test-Achats (ABCTA) against French electricity company EDF’s acquisition of Segebel, which owns power company assets in Belgium.

17 October 2011
Companies & Finance

Macquarie to supply $30 million bridge loan to Petroceltic

Australian bank Macquarie has agreed to supply Irish explorer Petroceltic with a $30 million bridge loan to finance its upstream portfolio.

14 October 2011
Companies & Finance

European Investment Bank considering $549 million pipeline loan

The European Investment Bank is mulling over a €400 million ($549 million) loan for the construction of two gas pipelines and an interconnector terminal in Italy.

14 October 2011
Pipelines, Storage & Power

GreenStream pipeline flows re-start

Italian oil major Eni and Libya’s National Oil Corporation (NOC) launched test gas flows through the GreenStream pipeline on Thursday, with the aim of fully reinstating Libyan gas flows to Italy.

14 October 2011
LNG

Poland to remain dependent on Russian gas

The planned LNG import terminal in Swinoujscie, Northern Poland, will strengthen the country’s security of supply but not abolish its dependency on Russian gas.

13 October 2011
EU Energy Policy

Commission explores new ways of project financing via CEF regulation

In a bid to offer an alternative to traditional grant funding, the European Commission will propose on 19 October to use more innovative financial instruments, such as loan guarantees and European project bonds, via the new infrastructure fund which it proposes to set up under the bloc’s next long-term budget.

13 October 2011
EU Energy Policy

CEE countries oppose new infrastructure fund

A group of central European countries on Tuesday expressed concerns to the European Commission about plans to concentrate money envisaged for key European infrastructure developments in a new fund - the Connecting Europe Facility (CEF) - as part of reforms to the bloc’s spending programme after 2013.

13 October 2011
EU Energy Policy

Wholesale energy market rules formally adopted

EU environment ministers on Monday formally adopted new EU wholesale gas and power trading rules intended to prevent market abuse and increase transparency, the EU Council announced in a statement.

13 October 2011
Exploration & Production

$16bn UK offshore investment not enough to offset decline in production

BP and its partners’ GBP 10bn ($15.7bn) investment plan for North Sea oil and gas development will not be enough to offset the decline in gas production on the UK Continental Shelf.

13 October 2011
Exploration & Production

Shale gas ‘welcome news’ for Europe

International Energy Agency Chief Economist Fatih Birol discusses the growing role of gas in the global energy mix and the growing demands on producers from both an environmental and technical perspective.

12 October 2011
Pipelines, Storage & Power

Nabucco will not be delayed, insists consortium

The Nabucco pipeline consortium – which aims to bring Azeri gas into Austria and Europe by 2017 - on Wednesday played down speculation that the project was facing delays, but confirmed that the first gas from the 16 bcm/y Shah-Deniz II field may not be exported before 2018.

12 October 2011

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