Page 16 - EurOil Week 19 2022

EurOil NEWS IN BRIEF EurOil

on Russian oil products by the end of this year. give up importing pipeline gas from Russia. inspection, maintenance, and repair (IMR).
Croatia will seek to be allowed to import “Once we are free of Russian gas, we need Siem Offshore did not share information
vacuum gas oil (VCO) for its oil refinery at to have a gas system that is more stable and on the value of the contract.
Rijeka, which is needed for the production of better functioning. The Polish pipeline and the
diesel. interconnections with Latvia help us maintain
VCO supply sources on the global a sustainable system,” Kreivys said. “Secondly, Serbia says gas link with
market are limited and a ban on its import the system will allow us to have more gas
from Russia could threaten Rijeka refinery’s competition. Polish suppliers will be able to Bulgaria is of ‘supreme
operations. compete on our markets.”
Bulgaria is also seeking an exemption from According to the minister, Poland is importance’
the ban as it wants to import cheaper oil from planning to use Lithuania’s LNG terminal to
Russia to avoid further price hikes. supply gas to its power plant in Ostrołęka. The construction of a gas interconnection
“This means that the terminal will be probably with Bulgaria is a priority for Serbia, because
90 to 100 percent occupied, the highest rate in the completion of this pipeline will give the
Turkish energy imports leap Europe,” and therefore the cost of the terminal country the opportunity to obtain gas from
liquefied natural gas (LNG) terminals in
for ordinary consumers may go down, he said
134% y/y to $7.75bn in April to LRT, the website of Lithuanian national Greece or Azerbaijan, Deputy Prime Minister
broadcaster LRT.
and Minister of Mining and Energy Zorana
Turkish energy imports leapt 134.1% y/y to Last week, Russia stopped supplying gas Mihajlovic said in Sofia on May 5.
$7.75bn in April, according to trade ministry to Bulgaria and Poland. Asked how much Mihajlovic, together with Bulgarian
data released on May 5. Lithuania will be able to help Poland if it Minister of Energy Alexander Nikolov,
For the first four months of the year, a runs out of gas next heating season, Kreivys attended the signing of a contract between
173.1% jump to $32.75bn was recorded. said that Vilnius would chip in, if necessary. Bulgartransgaz and DZZD International Gas
The trade deficit as a whole came in at $6.1bn However, Poland should be able to replace in Sofia on the design, delivery of necessary
in April, marking a doubling of the gap year on Russian shipments with gas from Norway by materials and equipment, construction and
year, data from the trade ministry also showed. the end of the year, via the new Baltic Pipe to commissioning of the interconnection on the
It was last September that Turkey’s latest be launched in autumn, he added. Bulgarian territory, says a statement from the
monetary easing cycle begin. Since November, “By the end of the year, Poland will be government of Serbia.
the trade deficit has remained above the $5bn- secure,” Kreivys said. “Once the Baltic Pipe is The signing took place shortly after the
level, accumulating to $45bn in the six month- up and running, our region may be able to get construction of an LNG terminal in the Greek
period from November to April. some gas from Poland when it needs it. As I city of Alexandroupolis was launched on
In May, a relatively limited recovery in said, the GIPL pipeline is a huge guarantee of May 3, a major project that will help Bulgaria,
external balances is set to continue as gas bills our security.” North Macedonia and Serbia diversify from
decline and the tourism season begins. The EU is moving towards banning Russian Russian gas.
oil imports in Europe and phasing out Russian “Building an interconnection with Bulgaria
gas will be the next step, Kreivys said. For that, is the most important project for us. The
Lithuania launches GIPL gas Europe will need to build more LNG terminals. works on our side started in January, today
“Germany plans to build three terminals
a contract was signed for the works on the
link with Poland by the end of the year, which will supply up Bulgarian side, which will speed up the
to 20 percent of its total gas consumption.
process of building the interconnection and
One of Lithuania’s most important strategic We also hear that the Finns and Estonians it is certain that everything will be completed
energy projects of the last decade, the €500mn are planning a terminal. I have spoken to the by September next year. Then we will get
gas interconnector (GIPL) with Poland, was Finnish minister for economic affairs, and the opportunity to obtain gas from LNG
officially launched on May 5. he has assured me that they are planning to terminals in Greece or Azerbaijan,” said
According to Lithuanian Energy Minister have a terminal by the end of the year,” the Mihajlovic.
Dainius Kreivis, the 500km pipeline will Lithuanian energy minister said. The minister participated in the Southeast
open the way to the Western European gas Energy Transition - Regional Cooperation
market not only for Lithuania but also for for Energy Security, Diversification and
Latvia, Estonia and Finland. Until now, they Siem Offshore Nets New Deal Transition in Sofia meeting, together with
have only been able to buy pipeline gas from the ministers of energy of Bulgaria, Romania,
Russia. for Siem Spearfish OSCV Greece, North Macedonia, Ukraine,
The energy minister said that the GIPL Azerbaijan and Turkey, as well as with
pipeline opened slightly earlier than planned Norwegian offshore vessel owner Siem representatives of the European Commission
due to the tense situation in the region. Offshore has secured a new contract for the and the Energy Community.
“The preliminary plan was for mid-year, offshore subsea construction vessel Siem “I talked with the Turkish Deputy Minister
but the situation in the region is now tense, Spearfish with DeepOcean. of Energy about the free capacities for us
companies have completed the paperwork The contract for the 2014-built vessel will in the Turkish Stream, as well as with the
faster, the pipeline has been submitted for start in direct continuation of its current Azerbaijani Minister about the supply of
evaluation and we can open it earlier,” Kreivys commitment, securing a firm utilization until gas from that country, but also about the
told LRT Radio. the end of 2023. development of new technologies, especially
Energy experts say the gas pipeline “The contract shows an increased appetite when it comes to hydrogen. At the meeting,
between Lithuania and Poland is one of in the market to secure OSCV’s for longer we discussed filling the warehouses before
the most important energy projects since periods,” Siem Offshore said. the beginning of the winter season and
independence. The energy minister said that DeepOcean plans to deploy the vessel to accelerating the decarbonisation of the energy
the GIPL pipeline will not only make gas support its clients predominately in West sector, as well as the need for joint reaction in
supply more secure, but also reduce the cost Africa and Europe both in the offshore case of additional disturbances, cooperation
of maintaining Lithuania’s LNG terminal in renewables and oil and gas sector undertaking and solidarity,” Mihajlovic said.
Klaipėda. Vilnius has decided to completely projects within offshore construction and

P16 www. NEWSBASE .com Week 19 12•May•2022