Page 16 - FSUOGM Week 42 2019

FSUOGM
FSUOGM
to fall due to volatile oil, gas and steel prices. European market may also remain challenging and 4Q18 shipments may be under pressure,” BCS GM writes.
TMK reported a net IFRS profit jump of 77% quarter on quarter to $67mn, beating the analysts’ estimates by 13%. Company’s revenues were up by 4% q/q to $1.3bn, while Ebitda gained 11% q/q to $166mn.
By divisions, TMK’s Ebitda in Russia was up by 21% q/q to $166mn, down by 33% q/q to $20mn in North America, and flat q/q at $8mn within the EU.
Previous reports claimed that TMK could cash in $1.2bn with the sale of 100% of its US subsidiary IPSCO Tubulars, however, the company has not yet confirmed the deal.
bne IntelliNews, October 17 2019
Gazprom sales in Europe continue to slump
Gas sales by Russia’s Gazprom in Europe declined by 2.5% in the year up to October 15 to 152.6bn cubic metres, CEO Alexei Miller told Russian PM Dmitry Medvedev in a meeting. Gazprom’s output grew by 0.9% to 389 bcm, however.
Gazprom’s market share in Europe has been under assault by rising supplies of LNG from the US and other exporters.
October 21 2019
EASTERN EUROPE
2022, respectively. According to Bulgarian Energy Minister Temenuzhka Petkova, the country will spend €1.4bn ($1.59bn) to
build the new gas link to Turkey to transport Russian gas from the Turkish Stream pipeline
October 21 2019
Russia, Ukraine consult on transit contract
Energy officials from Russia, Ukraine and the EU held technical consultations on October 21 in Brussels on the future of gas transit via Ukraine.
According to Ukraine’s state-owned Naftogaz, the parties discussed Ukraine’s progress in aligning its energy laws with EU legislation, the formation of a new contract between Russia and Ukraine for the transit of Russian gas, tariffs and other matters.
The next round of talks will take place on October 28.
October 22 2019
CENTRAL ASIA & SOUTH CAUCASUS
Kashagan field drops
output due to unexpected
maintenance
Production of oil and gas condensate
at Kazakhstan’s giant Kashagan field
has declined since October 6 due to unplanned maintenance, Kazakh Energy Minister Kanat Bozumbayev told Reuters on October 16. The minister declined to elaborate
According to anonymous industry sources, the drop in production was due to a loss of pressure at one compressor followed by maintenance.
Daily output at Kashagan has fallen
to an average of 40,300 tonnes (294,000 barrels) from 50,000 tonnes (365,000 barrels) in early October, according to the sources.
bne IntelliNews, October 17 2019
Air Liquide unit to own and
operate a new nitrogen unit
in Kazakhstan
France’s Air Liquide Munay Tech Gases will build, own and operate a new nitrogen
unit in the growing chemical industrial basin of Karabatan near the Atyrau refinery in Kazakhstan as part of an agreement with Kazakhstan Petrochemical Industries (KPI).
Established in 2016, Air Liquide Munay Tech Gases is a joint venture between France’s Air Liquide and the Kazakh national oil company KazMunayGas (KMG). Air Liquide holds a controlling stake of 75%.
Air Liquide Munay Tech Gases will invest €15mn euros in a new unit to supply up to 8,000 Nm3/h of nitrogen
to a new polypropylene plant under construction by KPI as part of the first Integrated Gas-Chemical Complex Construction Project in Atyrau Region. The new plant will have a capacity of 500,000 tonnes per year. The project is set to launch by 2021.
Air Liquide Munay Tech Gases has been supplying hydrogen to the Pavlodar Oil and Chemistry Refinery, an affiliate of KazMunayGas, for over one year.
bne IntelliNews, October 17 2019
Socar’s drilling unit opens rep office in Turkish capital
Socar AQS, an integrated drilling and well services management company and subsidiary of Azerbaijan’s Socar national oil company, has opened a representative office in Ankara.
The company was established in 2007 by Socar and Absheron Drilling Company.
Commenting on Socar AQS’s
likely future operations in Turkey, the company’s director general Ramin Isayev said it would drill 40 wells to expand
the storage of the Salt Lake Natural
Gas Storage Facility, located in central Anatolia.
The facility has capacity to store 600mn cubic metres (mcm) of gas and has another 600 mcm of capacity under construction with plans to reach 5.4 bcm by 2023-24.
“We look forward to utilising the full potential of the company to work in close cooperation with our business partners and stakeholders to make this project a great success for Turkey, our client, and Socar AQS,” he said.
During the implementation of the project, Socar AQS will also utilise the infrastructure of local Turkish business partners and the company will invest in the further training and development of young Turkish drilling specialists.
bne IntelliNews, October 20 2019
Bulgaria launches 11km gas
pipeline stretch of Balkan
Stream
Bulgaria launched an 11km gas pipeline from the Turkish border to compressor station Strandzha on October 21, the energy ministry said in a statement.
The pipeline will be part of the Balkan Stream and of the extension of Gazprom’s Turkish Stream pipeline toward Serbia. The project also included the construction of the Strandzha gas metering station.
Earlier in October, Bulgaria’s state-owned gas network operator Bulgartransgaz inked a BGN350.8mn (€179mn) deal with a German- Bulgarian consortium for the construction
of two compressor stations on the local extension of the Turkish Stream pipeline.
Gazprom has determined the itinerary of the second line of the Turkish Stream pipeline will span Bulgaria and Serbia starting from 2020, then go through Hungary and Slovakia starting from 2021 and the second half of
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Week 42 23•October•2019