Page 19 - AfrOil Week 19 2022

AfrOil NEWSBASE ROUNDUP GLOBAL (NRG) AfrOil

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global in Ukraine. Gazprom said on May 5 it would use
(NRG), in which the reader is invited to join our the 55bn cubic metre per year pipeline’s onshore
team of international editors, as they provide a facilities to work in expanding gas supplies to
snapshot of some of the key issues affecting their customers in north-west Russia.
regional beats. We hope you will like NRG’s new
concise format, but by clicking on the headline GLNG: Mitsui has written down value of
link for each section the full text will be available Russian LNG
as before. Japan’s Mitsui & Co. said that it had written down
the value of its investments in two Russian LNG
AsianOil: Chinese yards to stop work on projects by a combined JPY80.6bn ($617mn).
modules for Arctic LNG 2 The company reduced the value of its 12.5%
Chinese yards are reportedly set to halt work on stake in the Sakhalin-2 oil and LNG project by
modules for the Novatek-led Arctic LNG 2 pro- JPY44.1bn ($338mn) and cut the value of its
ject in Russia by the end of May. This comes amid investments in the under-construction Arctic
increasingly strict Western sanctions targeting LNG 2 project by JPY36.4bn ($279mn).
the Russian economy – including the country’s
energy sector – in the wake of the war in Ukraine. LatAmOil: Chevron seeks new investment
opportunities offshore Brazil
DMEA: Duqm study and Iran dealing Chevron is looking for openings to invest in
Canadian firm Genoil announced this week major new projects in Brazil’s offshore zone,
that it has completed a “bankable feasibility according to Mariano Vela, the US major’s
study” for the development of a private 200,000 country manager. Speaking on the sidelines
barrel per day upgrading refinery at the Omani of an industry conference last week, Vela said
port of Duqm. Meanwhile, following high-level Chevron was “in the means of looking for new
meetings in Venezuela last week, Iran has said opportunities.”
it is considering investing in a new refinery in
Nicaragua while inviting Brazilian companies to MEOG: Energean makes East Med find
invest in its petrochemicals sector. London- and Tel Aviv-listed Energean this week
announced a commercial gas discovery that
EurOil: Longboat clinches second offshore it intends to tie back to facilities already being
Norwegian farm-in deal deployed to develop existing reserves. Mean-
North Sea-focused junior Longboat Energy has while, Iran and Russia are set to improve bilateral
announced a second farm-in deal off the coast ties in the fields of oil and finance, as both coun-
of Norway, involving it in a two-well explora- tries face a shrinking pool of potential partners.
tion campaign due to take place in 2022 and
2023. Longboat has acquired 20% stakes in three NorthAmOil: Canada in talks on expediting
licences in the Norwegian North Sea from their East Coast LNG exports
operator, Austria’s OMV, which will retain 40% The Canadian government is in talks with the
stakes in the projects. developers of two proposed LNG export ter-
minals on Canada’s East Coast to see whether it
FSU OGM: Russia puts Nord Stream 2 to can help expedite those projects, it emerged last
work for domestic market week. Canadian Minister of Natural Resources
Russia has announced it will use the onshore sec- Jonathan Wilkinson told Reuters that Ottawa
tion of the Nord Stream 2 gas pipeline to serve was in discussions with Pieridae Energy and
domestic demand, after Germany put the export Repsol over terminals in Nova Scotia and New
project on hold in response to Moscow’s actions Brunswick respectively. ™

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Week 19 11•May•2022 www. NEWSBASE .com P19