Page 17 - GLNG Week 24 2022

GLNG NEWSBASE’S ROUNDUP GLOBAL (NRG) GLNG

NewsBase’s Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global gas and oil, even after the sixth package of sanc-
(NRG), in which the reader is invited to join tions that target energy was put in place. Despite
our team of international editors, who provide a the West’s push to phase out Russian energy
snapshot of some of the key issues affecting their imports and deprive the Kremlin of money to
regional beats. We hope you will like NRG’s new finance its war in Ukraine, the country’s export
concise format, but by clicking on the headline link revenues were in fact up by almost 40% year on
for each section the full text will be available as year in May, on the back of soaring global prices,
before. data published by CREA shows.

AfrOil: TotalEnergies makes FID on GLNG: Malaysia’s Petronas plans to ex-
$850mn CLOV Phase 3 project pand investments in LNG exports from
Angola’s National Agency for Petroleum, Gas Egypt to Europe
and Biofuels (ANPG) announced last week Malaysia’s national oil company Petronas is plan-
that France’s TotalEnergies had made a final ning to take advantage of current strong demand
investment decision on Phase 3 development at for liquefied natural gas exports from Egypt to
CLOV, four offshore oilfields located within the Europe following the European Union’s deci-
Block 17 licence area. In a statement dated June sion to invest in diversifying natural gas imports
10, ANPG said the FID cleared the way for the away from Russia due the conflict in Ukraine. A
French major and its partners to spend $850mn large delegation headed by Petronas President
on the expansion of capacity at the Cravo, Lirio, and Group CEO Tengku Muhammad met with
Orquidea and Violeta fields, which have been in Egyptian Minister of Petroleum Tarek El Molla
production since 2014. This additional capacity to discuss making additional investments in LNG
will come on stream in 2024, it noted. export opportunities in Egypt.
AsianOil: CPC receives Taiwan’s first cargo LatAmOil: APA finds water in Rasper well
of carbon-offset crude offshore Suriname
Taiwan’s CPC announced on June 12 that it had Houston-based APA Corp. has finished drilling
received the country’s first cargo of certified car- the Rasper exploration well at Block 53 offshore
bon-offset crude. The cargo totalled 1.05mn bar- Suriname without finding any hydrocarbons. On
rels of oil and was delivered by the trading arm of June 13, APA said in a statement that the Rasper
Azerbaijan’s state-owned SOCAR. wildcat well had encountered only water-bearing
reservoirs.
DMEA: Progress at Haditha refinery
Iraq’s state-owned North Refineries Co. (NRC) MEOG: NFE partner and Sakarya pipelay-
has passed the half-way point in its project to ing
upgrade and expand capacity at the Haditha In MEOG this week, we cover the unveiling
refinery in Anbar Governorate. Speaking to local of Qatar’s first IOC partner in its giant LNG
press this week, the refinery’s director, Hassan expansion project and the laying of pipes con-
Mardi Abdulaziz, said that the “project comple- necting Turkey’s major offshore gas field to the
tion has exceeded 50%” as it works to more than grid. Super-major TotalEnergies was named by
double capacity from the current level of 16,000 QatarEnergy as its first and main IOC partner in
barrels per day. a joint venture formed to support the develop-
ment of its North Field East LNG development.
EurOil: Norwegian oil strike averted
Norwegian oil firms and employees have agreed NorthAmOil: BP exits oil sands, enters Bay
in principle a new wage deal that will avert for du Nord via Cenovus deal
the time being a strike at nine fields that could BP announced this week that it had reached an
have had an impact on the country’s oil supply, agreement with Cenovus Energy that will see it
employers and unions said on June 12. Two of relinquish its 50% stake in the Sunrise oil sands
the three unions that held talks with oil firms will venture while farming into the undeveloped Bay
seek the consent of their members before for- du Nord project offshore Newfoundland and
mally approving the deal, according to Reuters. Labrador. Under the terms of the agreement,
Cenovus will pay BP CAD600mn ($463mn) plus
FSUOGM: Russian energy export revenues a variable payment with a maximum cumulative
up 40% in May despite sanctions value of CAD600mn expiring after two years, as
Russia’s revenue from energy exports in the first well as handing over its 35% stake in Bay du Nord.
100 days of the war amounted to €93bn, accord-
ing to a study by the Helsinki-based Centre for See the archive and sign up to receive NRG Editor’s
Research on Energy and Clean Energy (CREA), Picks for free by email each week here.™
and the EU remains the largest buyer of Russian

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