Page 16 - EurOil Week 11 2021

EurOil PROJECTS & COMPANIES EurOil

Repsol refuels tanker with

carbon-offset LNG

SPAIN SPAIN’S Repsol has bunkered a ship with LNG restrictions on ship pollutants, and Spanish ports
while offsetting the CO2 emissions from the gas, are well-positioned in benefit from this trend,
The operation took marking the first time that this has been done. receiving ships that have travelled from Asia via
place in the port of Carbon credits are issued to projects that the Suez Canal.
Cartagena in Spain. reduce or avoid CO2 emissions as forestation “The uniqueness of the operation is that this
initiatives and renewable power projects and is first time that Repsol, as a supplier of LNG, has
can be bought by other companies to offset emis- guaranteed the compensation of the total CO2
sions that are unavoidable. In a statement, Repsol emissions associated with the consumption of
said it had bunkered a chemical tanker owned by this LNG,” Repsol said. “This is a further step
Sweden’s Furetank Rederi with 430 cubic metres towards the goal of becoming a zero net emis-
of LNG and had purchased carbon credits in the sions company by 2050, offering ship owners the
Voluntary Carbon Market to cover emissions possibility of making their commercial routes
from the fuel. more efficient and environmentally friendly.”
The bunkering of Furetank’s 150-metre-long Repsol pledged in December 2019 to reduce
Fure Vinga tanker took place at the port of Cart- its emissions to net zero by 2050, becoming the
agena in Spain, at a terminal owned by system first major oil and gas company to make such a
operator Enagas. It took four hours to complete. promise.
The tanker arrived from China and is continu- Fure Vinga is among several LNG-fuelled
ing en route to Rotterdam after making its call tankers that Furetank ordered from the China
in Cartagena. Merchants Jinling Shipyard Dingheng in China
LNG-fuelled shipping between Asia and in 2015. It was received by the Swedish firm in
Europe is on the rise thanks to new IMO January this year. ™

NEWS IN BRIEF

Tirana invites bids for two 1,000 metres. The Tirana to Elbasan trunk Energy and Mining Minister Petar Djokic
present.
road crosses the block from the northwest to
onshore oil blocks southeast corner.
Two onshore oil blocks, Block B and Turkey launching natural
Block E, are available for exploration, the Serbia and Republika Srpska
National Agency of Natural Resources gas futures market
(AKBN) announced, as reported by the to build gas pipeline
Invest in Albania portal. Both domestic and Turkey’s energy market watchdog on
international companies can submit bids for Srbijagas and the Gas-Res companies signed March 12 released a set of regulations for
the blocks. an agreement in Banja Luka on March 16 to the operation of an upcoming Natural
According to state-run oil company build a gas interconnection between Serbia Gas Futures Market (VGP) at the Energy
AlbPetrol, Albania has an estimated 120mn and Bosnia & Herzegovina’s Republika Srpska, Exchange Istanbul (EPIAS). The exchange
barrels of recoverable oil reserves. Patos- reported Beta news agency. plans to launch the market on October 1.
Marinza, developed by Bankers Petroleum, The interconnection will link the gas EPIAS, initially launched in 2015 for
is one of the largest oilfields in continental pipeline system in Bosnia to Serbia and the the electricity market, has boasted a Spot
Europe. Balkan Stream pipeline. Wholesale Natural Gas Market (OTSP) since
Of the two blocks put up for bidders, The interconnection will go from Serbia 2018.
Block B, on Albania’s Adriatic coast, has an into Bosnia via Bijeljina, Banja Luka, Prijedor The OTSP has 48 registered participants.
area of 776 square kilometres, most of which and Novigrad, the Serbian state-owned Its transaction volume in 2020 rose by 64%
is flat, but with a central hilly area with Srbijagas company said. y/y to 2.09bn cubic metres, suggesting a
elevations of up to 200 metres. The Tirana to The new pipeline will be 90 kilometers monetary volume of Turkish lira (TRY) 3bn
Durres highway runs through the southern long in Serbia and 320 kilometres in ($386mn).
portion of the block, says the bid document Republika Srpska with a planned capacity of EPIAS’ electricity markets, namely the
quoted by Albania Invest. 1.2bn cubic metres of natural gas a year. Intraday Market, Day Ahead Market and
Landlocked Block E has an area of 700 The agreement was signed by Srbijagas Balancing Market, are more active.
square kilometres, most of which is hilly CEO Dusan Bajatovic and Gas-Res CEO In the Day Ahead Market, the transaction
or mountainous, with elevations of up to Djuro Glamocic with Republika Srpska volume rose 19% y/y to 181 TWh in 2020,

P16 www. NEWSBASE .com Week 11 18•March•2021