Page 18 - EurOil Week 01 2021

EurOil PIPELINES & TRANSPORT EurOil

First LNG tanker arrives at

Croatia’s Omisalj terminal

CROATIA THE first tanker bearing liquefied natural gas [floating storage regasification unit] FSRU ship
(LNG) arrived at Croatia’s new floating LNG LNG CROATIA has begun, and the procedure
The terminal will (FKNG) terminal at Omisalj on January 1. is expected to last until January 3, 2021, after
supply gas consumers The terminal, with annual import capacity which the tanker Tristar Ruby will leave the ter-
in Croatia and further of 2.6bn cubic metres, is a strategic project for minal area and special purpose ports,” said the
afield. Croatia, as it will improve security of supply for statement. “This activity started the commercial
Croatia and other countries in the region. operation of the terminal, in accordance with the
The delivery from the US marks that start planned deadlines.”
of commercial operations at the terminal After the delivery by the Tristar Ruby tanker,
located off the island of Krk, LNG Hrvatska the LNG is being converted back to natural gas
said in a statement. It follows a month of pilot then transported to buyers through pipelines.
operations. The terminal it connects to the national gas
“[On January 1] in the morning, the first transport system through the newly built Omis-
LNG transport tanker, Tristar Ruby, arrived at alj-Zlobin pipeline.
the LNG terminal, and successfully moored in The capacity of the terminal has been filled,
the special purpose port of the LNG terminal. leased by foreign and domestic companies for
After testing and security checks, the process the next three years. 80% of its capacity has been
of transhipment of LNG from the tanker to the leased until 2027, and around 50% until 2035. ™

INVESTMENT

Edison offloads Norwegian

business to Sval Energy

NORWAY EDISON has struck a deal to sell its oil and gas “This transaction almost completes Edison’s
production business in Norway to local player divestment plan of its hydrocarbon exploration
The deal valued Edison Sval Energi, as the Italian company looks to shift and production activities to focus on sustainable
Norge at $300mn. its focus to clean energy. development, in line with the country’s energy
Edison, which is owned by French energy transition and national decarbonisation targets,”
giant EDF, recently closed the sale of most of its the company said. “In the short term, the com-
other upstream operations to Mediterranean-fo- pany will invest in Italy the financial resources
cused Energean for $284mn. That deal initially made available by the sale of these assets to sup-
covered the company’s Norwegian assets, but port the company’s growth plan in the strategic
they were excluded after Energean’s attempt to areas of generation from renewable sources and
sell them on to North Sea operator Neptune latest gas technology, services to final clients,
Energy failed. energy efficiency and sustainable mobility.”
Edison said on December 30 that the trans- Edison also had to exclude its Algerian
action with Sval Energi valued its Edison Norge assets from the Energean deal, after difficulty
subsidiary at $300mn, including debt. The getting consent from local authorities. This will
impact on its net financial position “is estimated likely pose an obstacle for future divestment
to be significantly higher than that amount,” it deals. Algeria’s government similar blocked
said. Occidental Petroleum’s sale of Anadarko assets
The deal covers 15% and 10% stakes respec- in the North African country to France’s Total
tively in the Nova and Dvalin gas projects, esti- in late 2019.
mated to hold 25.9mn barrels of oil equivalent Sval, backed by private equity investor Hitec-
(boe) in reserves, along with five exploration Vision, already has a 15% position in the Win-
licences. Edison anticipates its closure in the first tershall Dea-operated Nova field, due to start
half of this year, pending necessary approvals by production in late 2021. Wintershall began flow-
Norwegian authorities. ing gas from Dvalin in November last year. ™

P18 www. NEWSBASE .com Week 01 07•January•2021