Page 13 - AsianOil Week 50 2020

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EG Group was founded by the UK’s billion- should make the company more attractive
aire Issa brothers, who are also looking to acquire among increasingly climate-conscious investors.
British supermarket chain Asda from US retail US financial firm MSCI upgraded Novatek’s ESG
giant Walmart. rating from BBB to A, making it the only Russian
company to achieve such a high rating.
If you’d like to read more about the key events shaping In a move that should make its green creden-
Europe’s oil and gas sector then please click here for tials even more convincing, the company is also
NewsBase’s EurOil Monitor. reportedly working with Germany’s Siemens on
a plan to produce and use hydrogen at its Yamal
FSUOGM: Nord Stream 2 work resumes LNG plant.
Construction of Russia’s embattled Nord Stream Third and finally for this week, the consor-
2 gas pipeline has resumed, the project’s oper- tium developing the giant Karachaganak field
ator said on December 11, after coming to a in Kazakhstan has finally paid $1.3bn to settle a
halt around a year ago after the US imposed long-running dispute with the government over
sanctions. profit-sharing. The agreement paves the way for
The pipeline under the Baltic Sea from Ger- the project’s investors to push ahead with a $1bn
many to Russia is understood is be around 94% expansion project.
complete. Germany’s Authority of Waterways
and Shipping Management published a notice If you’d like to read more about the key events shaping
to seafarers on December 11 that building work the former Soviet Union’s oil and gas sector then please
in German waters had resumed. It warned other click here for NewsBase’s FSU Monitor.
ships to avoid the area until “around December
31”, noting that “anchoring or fishing is not per- GLNG: Certain projects move forward,
mitted in the area of the planned pipelines.” while others see disruptions
The Nord Stream 2 operating company, a Certain LNG projects were reported to be mov-
100%-owned subsidiary of Russian state gas ing forward in recent days, including a small-
supplier Gazprom, confirmed in a statement scale US LNG export terminal proposed for New
that “the pipelay vessel Fortuna will lay a 2.6-km Jersey, which cleared another regulatory hurdle
section of the pipeline in the German Exclusive last week.
Economic Zone in water depths of less than 30 The Delaware River Basin Commission
metres.” (DRBC) voted 4-0 to uphold a decision approv-
Nord Stream 2 will pump up to 55bn cubic ing a key part of the project, which would involve
metres per year of Siberian gas to Gazprom’s building a second dock to load LNG tankers at
European customers. Russian authorities have the proposed Gibbstown Logistics Centre. The
said they expect the pipeline to be up and run- second dock had been contested by local envi-
ning by early 2021. ronmental groups, and the DBRC had agreed
In other news, Russian LNG exporter last year to reconsider its initial approval of this
Novatek has secured a bump in its environmen- step, but subsequently decided that there was no
tal, social and governance (ESG) score, which basis for rescinding the approval.

European Commission
President Ursula von
der Leyen has said the
new EU emissions target
“puts us on a clear
path towards climate
neutrality in 2050.”

Week 50 17•December•2020 www. NEWSBASE .com P13