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Bulgaria extends oil, gas impression is that such settlement procedure Navigator Leo, has remained at the port
– in Russian rubles – does not formally violate of Rotterdam since March 17, unable to
exploration permit of the sanction regime and is possible, Latvijas offload its bulk. The two other tankers,
namely Navigator Luga and Navigator
Gaze has said.
TotalEnergies, OMV Petrom Kalvitiss said: “we would like to emphasise that Turkish port of Dortyol in Hatay.
Latvijas Gaze chairman of the board Aigars Libra, were reportedly diverted to the
by two years the amount of natural gas reserves of JSC Lat- The cargoes were reported as bought by
vijas Gaze in the natural gas storage facility is Aygaz (AYGAZ), Turkey’s largest importer
Bulgaria’s energy ministry said it has sufficient to fulfil its contractual obligations to and distributor of LPG.
extended by two years the oil and natural gas households and other customers by supplying A cargo from the Sibur Tobol was
exploration permit for the 1-21 Han Asparuh the natural gas pumped into the storage facility. re-loaded onto another tanker, the Eco
offshore block in the Black Sea that has been The decision not to pump gas through pipe- Freeze, in the port of Rotterdam on April
granted to units of French energy major lines in April was taken in view of the histor- 2-3.
TotalEnergies and Romanian oil and gas ically high natural gas prices in April, which Sibur has not been placed under
group OMV Petrom. would lead to disproportionately high natural sanctions amid the Russian invasion of
The ministry noted that the project is gas sales prices to our customers and make Ukraine but banks in the Netherlands are
of significant importance for the country’s such offers uncompetitive.” refusing to facilitate payments for products
energy security. As reported by bne IntelliNews, Latvian from Russia.
The extension was requested by the two PM Krisjanis Karins’s claims that the country’s Sanctions also place no restrictions
companies who reported they had discovered four-party ruling coalition is united on no on purchases of Russian oil products,
a promising area in the block that allows for more Russian gas. including LPG, but restrictions on the
additional testing for potential deposits. “There is a consensus among the ruling Russian financial system have complicated
Total E&P Bulgaria and OMV Offshore coalition that Latvia should give up supplies of payments, insurance and freight.
Bulgaria intend to invest around €1.46mn Russian natural gas as soon as possible,” he was In March, Turkey boosted imports of
during the next period of exploration. Out of quoted as saying by LSM’s Latvian language Russian Urals crude oil to 7.42mn barrels
the total, €900,000 will be spent on geological service. (1mn tonnes) from 2.7mn barrels in
and geophysical works, €335,000 on health, Speaking after the regular coalition meet- February in a bid to benefit from hefty
safety and environmental safeguard measures ing on April 4, Prime Minister Krisjanis Karins discounts of around $35 per barrel.
and €200,000 on training local staff. said that Latvia will give up the supply of Rus-
The two companies have already been sian natural gas regardless of what other coun-
granted another two-year extension, which tries and the European Union decide on the EU cosies up to Egypt to
expires in mid-May this year. matter.
The 1-21 Han Asparuh block is located Following Russian atrocities in Ukraine, secure natural gas, energy
in deep waters in the Bulgarian sector of the pressure is building for a full EU embargo on
Black Sea. It covers an area of 14,220 sq km. Russian gas supplies, though some countries supplies
remain reluctant to affect their economies for
the sake of a principled stand. A high-level delegation from the European
Despite Latvian PM’s claim responsible for the energy sector has been President Frans Timmermans was in Cairo
The Latvian Ministry of Economics (MoE) Union headed by EU Executive Vice-
on ‘no’ more Russian gas, instructed to draw up a report with solutions to meet Prime Minister Mostafa Madbouly
on how Latvia could refuse supplies of Russian and other senior cabinet members as part
country’s gas market natural gas. of the European Commission’s efforts to
As reported by bne IntelliNews, Lithuania drum up support for increased energy
operator signs new contract has already made a decision to completely supplies from Mediterranean countries to
Europe.
abandon Russian gas supplies.
with Gazprom its supply of natural gas to the block in
The EU is actively trying to diversify
Despite the Latvian PM’s affirmation that the Istanbul-listed Aygaz ‘buys order to decrease its heavy reliance on
country’s four-party ruling coalition is united Russia. Egypt has huge proven natural gas
on no more Russian gas, Latvia’s gas mar- LPG from Russia’s Sibur’ reserves in the offshore Mediterranean
ket operator, JSC Latvijas Gaze, reportedly which currently goes towards fulfilling
announced it has entered into a valid long- Russian petrochemical producer Sibur local consumption, and the remainder is
term agreement on the supply of natural gas diverted two tankers carrying liquefied exported as liquefied natural gas. The EU
until 2030 with Russia’s Gazprom. petroleum gas (LPG) to Turkey after is eyeing obtaining a commitment from
According to the changes in the legislation finding itself unable to offload the tankers Egyptian authorities to supply a larger
of the Russian Federation, starting from April at the original planned destination in the share of its LNG exports to the European
1, 2022, settlements for natural gas supplies Amsterdam-Rotterdam-Antwerp (ARA) market.
made after April 1, 2022 in accordance with the region in the Netherlands and Belgium, In return, Egypt has sought to further
foreign trade agreements of PJSC Gazprom for unnamed industry sources told Reuters on its ambition to become a regional hub
the supply of natural gas abroad (to a number April 11. for the production of green hydrogen
of countries) shall be made only in Russian Four tankers loaded with 48,000 tonnes and ammonia production through
rubles. of LPG set sail from the Baltic Sea port of getting the EU to sign an memorandum
Assessing the compliance of the said change Uts-Luga in Russia, destined for arrival in of understanding (MoU) to that effect
of the settlement procedure with the previ- ARA in the second half of March. during the COP27 Summit in the resort
ously established sanction regime, the first One of the tankers, namely the town of Sharm El Sheikh in November.

Week 15 15•April•2022 www. NEWSBASE .com P19