Page 13 - Euroil Week 32 2021

EurOil
NEWS IN BRIEF
EurOil
Over 70% of Baltic Pipe offshore section installed
Saipem’s pipelay vessels Castorone and Castro Sei have installed over 70% of the Baltic Pipe offshore gas pipeline.
According to the project’s latest update, the vessels are about to exceed 200 kilometres of the 275-kilometre route.
Castorone started offshore pipelaying activities at the end of June and passed the 100 kilometre milestone on 19 July.
On 5 August, it was reported that all crossings with gas pipelines and cables intersecting the route of the Baltic Pipe had been completed.
This strategic infrastructure project between Poland’s GAZ-SYSTEM and the Danish Energinet will create a new corridor supplying gas from Norway to the markets in Poland, Denmark, and neighboring countries..
Eni to deliver carbon neutral LNG cargo to Taiwan’s CPC
Italian oil and gas company Eni will deliver a carbon-neutral LNG cargo to Taiwan,’s energy player CPC Corporation at the Yung An receiving terminal.
Eni and CPC Corporation reached an agreement for the carbon-neutral LNG cargo.
The cargo will be offset through
the retirement of nature-based credits. Specifically, these credits are sourced from two REDD+ projects. One project is from in Zambia and the other one is in Malawi.
The overall GHG emissions are related to the entire value chain of the LNG cargo. This includes gas production, transmission, liquefaction, shipping, regasification, distribution, and end-use.
Additionally, the cargo will be certified as carbon-neutral according to the international PAS2060 standard.
The Bontang LNG facility in Indonesia will source the LNG as a part of Eni’s contract with Eni Muara Bakau.
Baltic states, Czechia,
Poland, Ukraine condemn
Nord Stream 2
The chairs of the foreign affairs committees of the parliaments of Latvia, Estonia Lithuania, the Czech Republic, Ireland, Poland, Ukraine, the United Kingdom and the United States underlined in a joint statement released
on August 3 that the completion of the
Nord Stream 2 pipeline will undermine the European gas market, endanger security, and
threaten the already precarious sovereignty of Ukraine.
The signatories consider Nord Stream 2 a geopolitical project geared towards expanding Russia’s influence on Europe by dominating the energy market.
“The likely repercussion of the completion and operation of Nord Stream 2 is to undermine the development of a single, liberalized, and open European market by consolidating sources of supply in the Nord Stream 2 system and deterring investment in alternatives,” the joint statement says.
It also insists that any further agreements on Nord Stream 2 necessitate consultations across the transatlantic family.
“Countering malign Russian aggression
is in all of Nato’s, all EU members, and our partners in Central and Eastern Europe vital national security interests,” the signatories say.
The statement is signed on Latvia’s behalf by Rihards Kols (National Alliance), Chairman of the Foreign Affairs Committee of the Saeima.
“The completion and continued operation of the Nord Stream 2 gas pipeline will jeopardise the development of a single, liberalized and open European market and
is likely to hamper investment in alternative energy sources,” Kols said.
Import of fuels in Albania reaches historic level
The biggest increase of imports of excise goods in Albania was in the import of fuels, which during this year broke historical records, the Albanian Daily News reported.
The official data of the Ministry of Finance confirmed that during the period January- June 2021 285,000 tons of oil were imported, an increase of 21% compared to 2020 and 23% more than in 2019.
According to the analysis of the Ministry of Finance, high fuel imports were the main contributor to the increase in budget revenues in this period. Customs revenues in January- June 2021 were realised in the amount of ALL84.7bn (€0.69bn), ALL16.5bn or 24.3% more than in the first six months of 2020,
as well as ALL4.5bn or 5.6% more than the customs revenue plan for the six months of the year 2021.
Bureau Veritas to support
North Sea Rough safety
assessment
Centrica Storage has awarded Bureau Veritas (BV) a three-year contract to provide verification services at onshore and offshore
gas storage facilities in the UK southern North Sea.
The Rough storage complex, around 18 mi (29 km) offshore, comprises various operational and cold-stacked structures: the onshore gas-reception terminal is at Easington, East Yorkshire.
BV said it secured the contract based on a novel solution for the verification of assets that are at different stages in their lifecycle.
It will provide services through a digitalized delivery model using the cloud- based collaborative software tool, BV Compliance.
The tool is designed to streamline planning, administration, project management and reporting to deliver a live overview of the assessment of SECE (Safety and Environmentally Critical Elements) suitability.
Unforeseen delay at Turkey
appraisal well knocks UK
Oil & Gas’ share price
UK Oil & Gas’ share prices headed south on August 2 after the company warned of an unforeseen delay at the Basur-3 appraisal well in Turkey, operated by Aladdin Middle East (AME).
UKOG said AME is pausing drilling until after the acquisition and processing of new seismic data to ensure a sidetrack is optimally located at the site. AME has planned a sidetrack hole to test the Garzan and Mardin targets, as the hole section that contains
the targets has been deemed unsuitable for onward drilling, according to Dow Jones Newswires.
“We concur with AME that the most prudent course of action is to pause commencing the sidetrack until new modern seismic can be incorporated to further derisk drilling and help achieve our objective,” UKOG CEO Stephen Sanderson said.
UKOG holds a 50% interest in the project.
Eurohold Bulgaria offers
$133mn for remaining 33%
of CEZ assets
Financial and insurance group Eurohold Bulgaria said that it aims to acquire the remaining 33% shareholding interest in Sofia-based CEZ Distribution and CEZ Electro it does not already own for a total of BGN219.2mn ($132.6mn).
Eurohold made the public tender offers to the minority shareholders of the two companies, both of them listed on the
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