Page 18 - DMEA Week 19 2022

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global cubic metre per year pipeline’s onshore facilities
(NRG), in which the reader is invited to join to work in expanding gas supplies to customers
our team of international editors, who provide a in north-west Russia.
snapshot of some of the key issues affecting their
regional beats. GLNG: Mitsui writes down Russian value
By clicking on the headline link for each sec- Japan’s Mitsui & Co. said that it had written
tion the full text will be available. down the value of its investments in two Rus-
sian LNG projects by a combined JPY80.6bn
AfrOil: Juba plans slow nationalisation ($617mn). The company reduced the value of its
Awow Daniel Chuang, the undersecretary of 12.5% stake in the Sakhalin-2 oil and LNG pro-
South Sudan’s Ministry of Petroleum, said on ject by JPY44.1bn ($338mn) and cut the value of
May 6 that Nilepet, the national oil company, its investments in the under-construction Arctic
had begun the process of taking over the projects LNG 2 project by JPY36.4bn ($279mn).
now led by foreign investors.
Speaking to reporters in Juba, Chuang said LatAmOil: Chevron on the hunt in Brazil
South Sudan wanted to gain more control over Chevron is looking for openings to invest in
its own oil industry so that it could collect a major new projects in Brazil’s offshore zone,
larger share of revenues, even if output levels according to Mariano Vela, the US major’s coun-
sink. try manager.
Speaking on the sidelines of an industry con-
AsianOil: Yards to stop Arctic LNG 2 work ference last week, Vela said Chevron was “in the
Chinese yards are reportedly set to halt work on means of looking for new opportunities.”
modules for the Novatek-led Arctic LNG 2 pro-
ject in Russia by the end of May. MEOG: Energean makes East Med find
This comes amid increasingly strict West- In MEOG this week we cover the discov-
ern sanctions targeting the Russian economy ery of significant gas resources in the Eastern
– including the country’s energy sector – in the Mediterranean.
wake of the war in Ukraine. London and Tel Aviv-listed Energean this
week announced a commercial gas discovery
EurOil: Longboat seals Norwegian farm-in that it intends to tie back to facilities already
North Sea-focused junior Longboat Energy has being deployed to develop existing reserves.
announced a second farm-in deal off the coast Meanwhile, Iran and Russia are set to
of Norway, involving it in a two-well exploration improve bilateral ties in the fields of oil and
campaign due to take place in 2022 and 2023. finance as both countries face a shrinking pool
Longboat has acquired 20% stakes in three of potential partners.
licences in the Norwegian North Sea containing
the Oswig and Velocette prospects from their NorthAmOil: Canada to fast track LNG
operator, Austria’s OMV, which will retain 40% The Canadian government is in talks with the
stakes in the projects. developers of two proposed LNG export ter-
minals on Canada’s East Coast to see whether it
FSUOGM: Domestic focus for Nord Stream 2 can help expedite those projects, it emerged last
Russia has announced it will use the onshore week.
section of the Nord Stream 2 gas pipeline to Canadian Minister of Natural Resources Jon-
serve domestic demand, after Germany put the athan Wilkinson told Reuters that Ottawa was
export project on hold in response to Moscow’s in discussions with Pieridae Energy and Repsol
actions in Ukraine. over terminals in Nova Scotia and New Brun-
Gazprom said on May 5 it would use the 55bn swick respectively.™

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P18 www. NEWSBASE .com Week 19 12•May•2022