Page 16 - GLNG Week 09 2023

GLNG EUROPE GLNG

Reganosa purchases 25% stake in El Musel

LNG terminal in Gijon from Enagas

SPAIN SPANISH LNG terminal operator Reganosa demand saw it mothballed. However, Enagas
revealed it has reached a deal with Enagas to believes the facility can serve as a logistical hub
Reganosa paid nearly acquire a 25% stake in the El Musel LNG termi- that can receive more than 100 LNG carriers and
$101mn for the stake. nal located in Gijon, north-west Spain. provide up to 8bn cubic metres of LNG capacity
In a statement released on February 28, the per year as Europe continues its push to wean
two companies revealed that Reganosa pur- itself off Russian gas.
chased the stake at a cost of €95mn ($100.7mn). The terminal obtained administrative
Meanwhile, Enagas also purchased a network of authorisation from the Ministry for the Ecolog-
130 km of natural gas pipelines from Reganosa at ical Transition and the Demographic Challenge
a cost of €54mn ($57.2mn). Additionally, Enagas last July. The terminal, which is Spain’s seventh
secured the position of promoter of the hydro- LNG facility, had originally been scheduled to
gen pipeline between Guitiriz and Zamora from be brought online in January but has been mired
Reganosa. in delays.
The El Musel LNG facility possesses a stor- “The El Musel terminal, as contemplated in
age capacity of 300,000 cubic meters of LNG the Government’s Plan for More Energy Secu-
divided into two tanks. The LNG plant’s berthing rity, is ready to be put into operation for logistical
and unloading facilities can also accommodate use soon, once the current administrative proce-
the largest LNG carriers with a capacity of up to dures are completed,” the statement said.
266,000 cubic metres. In addition to the El Musel terminal, Enagas
Completed in 2013, the LNG facility has owns three other LNG facilities in Spain located
yet to be brought online, as a previous lack of in Barcelona, Cartagena and Huelva. ™

Eni CEO says Africa is a key source of gas

supplies to replace Russia in Europe

ITALY CLAUDIO Descalzi, the CEO of Italy’s Eni, has is accurate, the Italian major has secured the
said that he sees Africa as a vital source of natu- equivalent of around 14.5 bcm per year from
Eni has already ral gas for Europe as the Continent attempts to other suppliers.)
succeeded in replacing reduce its dependence on supplies from Russia The CEO pointed out that his company had
half of the Russian gas in response to the latter country’s invasion of expended a great deal of effort over the last 12
it had been importing Ukraine. months to expand the scope of its relationships
into Italy. Descalzi was quoted as saying in a press with existing gas suppliers such as Algeria and
release outlining Eni’s results in the fourth to initiate deliveries from new suppliers such as
quarter of 2022 that Eni had already succeeded Mozambique. “During the year, we were able to
in replacing 50% of the Russian gas it had been finalise agreements and activities to fully replace
importing into Italy from Russia, with most of Russian gas by 2025, leveraging our strong rela-
the new supplies coming in from North and tionships with producing states and fast-track
West Africa. He did not identify any individ- development approach to ramp up volumes
ual importers or provide a full breakdown of from Algeria, Egypt, Mozambique, [Republic
the company’s supply sources, but he did state of] Congo and Qatar,” he was quoted as saying
that Eni expected to replace all of its Russian gas in the press release.
deliveries with African shipments by 2025. These initiatives can be expected to benefit
Prior to the outbreak of war in Ukraine in both Italy and the broader European energy
late February of last year, Eni was importing market, he added. “In 2022, Eni was not only
about 40% of Italy’s gas from Russia, he noted. engaged in progressing its sustainable energy
(According to previous reports, Russian gas transition goals, but also in ensuring the secu-
deliveries to Italy amounted to 29bn cubic rity and stability of energy supplies to Italy and
metres per year. As such, if Descalzi’s statement Europe, building up a diversified geographic mix
that Eni has replaced half of its Russian volumes of energy sources,” he commented. ™

P16 www. NEWSBASE .com Week 09 03•March•2023