Page 15 - AsianOil Week 27

AsianOil NRG AsianOil

new projects in Europe, North America and the signed a deal with Zarubezhneft on joint extrac-
Asia-Pacific region, with $1.1bn set aside for tion of hard-to-recover reserves in Western Sibe-
German investments. ria, less than a week after announcing a similar
partnership with Lukoil and Tatneft for projects
If you’d like to read more about the key events shaping in the Volga-Urals area.
Europe’s oil and gas sector then please click here for Elsewhere, Uzbekistan is pushing ahead with
NewsBase’s EurOil Monitor. the revamp of its refining sector, hiring South
Korea’s SK Engineering & Construction to
FSU: Nord Stream 2 battles on undertake front-end engineering design (FEED)
Russia’s embattled Nord Stream 2 project cleared work for a $500mn upgrade of the Bukhara oil
a key hurdle this week, with Danish regulators refinery. Last month work also commenced on a
revising the construction permit they issued last similar project at the Ferghana refinery, Uzbeki-
year to allow Gazprom to use anchored vessels stan’s other main oil processing plant.
to finish the remaining 120 km of the pipeline’s Tashkent’s goal is to produce more vehicle
offshore section. It is understood that Gazprom and jet fuels, of higher quality, to help reduce
intends to use two Russian vessels stationed at its imports and make fuel shortages a thing of
the German port of Mukran to finish the pipe- the past. But the unanswered question is how
line, and anchoring could be necessary. Uzbekistan will procure enough crude to run its
While this is a clear step forward for Nord refineries at full capacity.
Stream 2, now running over a year behind sched-
ule, the threat of stricter US sanctions continues If you’d like to read more about the key events shaping
to hang over the project. A bill announcing new the former Soviet Union’s oil and gas sector then please
sanctions is making its way through US Con- click here for NewsBase’s FSU OGM Monitor.
gress, but both Germany and the EU have said
they will consider countering US actions with Japan invests big in African LNG
measures of their own. Japan has announced a $14.4bn investment drive
Russian producers are banding together to by some of the country’s leading energy develop-
share technology and expertise to develop hard- ers and financiers in Mozambique’s LNG poten-
to-recover oil, which is anticipated to account tial, strongly suggesting that a group of private
for an increasing share of the country’s output and state banks have agreed to lend to Total’s
over the coming decades. Gazprom Neft has just Mozambique LNG project.

Week 27 09•July•2020 www. NEWSBASE .com P15