Page 20 - EurOil Week 34 2021

EurOil NEWS IN BRIEF EurOil

largest Romanian company on the BVB, with reporting official statistics. Shannon LNG tries for
a capitalisation of RON23.7bn (€4.8bn) at the Oil exports were reportedly up 50% y/y
end of trading on August 20. to $6.3bn. Gas shipments edged down 0.6% another permission, faces
TeraPlast is the leader of the PVC pipe y/y to $1.45bn.
market and one of the most important Oil volume was down 4.5% y/y to 14.4mn opposition
players on the Romanian installations tonnes, whereas gas volume was up 35.1%
market. y/y to 8.9bn cubic metres (bcm). The project of an LNG terminal in Ireland’s
“FTSE’s decision regarding the inclusion In 2020, Azerbaijan exported 28.3mn County Kerry, Shannon LNG, is due to
of OMV Petrom in the All-Cap indices and, tonnes of oil with a value of $8.5bn and 13.8 apply for planning permission while facing
at the same time, TeraPlast’s upgrade from bcm of gas for $2.7bn. environmental opposition.
FTSE Global Micro-Cap index to FTSE LNG terminal; Shannon LNG goes for
Global All-Cap index validates the potential another permission, faces oposition
of the Romanian capital market and its Spirit Energy extends North Shannon LNG is a €650 million ($764.4
dynamism,” said BVB president Radu Hanga. million) LNG import terminal project on a
“In just one year, Romania’s presence in Sea field life with new gas site on the Shannon Estuary in County Kerry.
FTSE Russell indices has increased from LNG received from tankers would be regasified
three to five companies and we are glad find and delivered into the national gas network
that we are present with as diverse fields in Ireland. The terminal would also include
as possible, from energy and financial to Oil and gas company Spirit Energy has a 600-megawatt electricity plant and battery
IT, because we present a relevant picture found more gas at its Grove field located in storage.
to global investors regarding the offer of the UK North Sea, which will prolong the The New York-based gas-to-power
companies in which they can invest on BVB. field life to at least 2028. developer New Fortress Energy is the project
This offer continues to diversify and grows The Grove field is situated on the developer. Shannon LNG would import
by listing new companies at BVB, and 2021 UK Continental Shelf close to the UK– fracked fossil LNG from the U.S. It would
is the best year in the last 22 in terms of Netherlands median line. The Grove field produce to 22.6 million cubic metres of LNG
the number of new companies coming to and Grove North East are operated by a day.
market, either with shares or bonds.” Spirit Energy (92.5 per cent) and RockRose
Alina Popa, a member of OMV Petrom’s is a licence partner (7.5 per cent).
executive board, said the inclusion of the Spirit Energy informed on Thursday Activists disrupt oil exports
company’s shares on the indices was the that the Grove North East development
“result of our continuous effort to improve well (49/10a-G7) encountered at Norwegian terminal
operational and financial performance carboniferous reservoir units at the target
and also to increase transparency for our depth, with around 250ft (gross) gas- Crude oil loading at Equinor’s Sture export
company”. Papa forecast the company’s bearing B & C sandstones present. The terminal on Norway’s west coast was
shares would become more attractive to a reservoir quality, sand thickness, and gas interrupted on Thursday after activists from
wider and more diversified investor base. column height are within the pre-drill the Extinction Rebellion group breached the
TeraPlast had a capitalisation of expectations and G7 was completed for facility’s safety zone, the company said.
RON1.7bn at the end of day on August production. Equinor halted the loading of the TS
20. Inclusion of the company on the FTSE Girish Kabra, Spirit Energy’s Director Bergen Aframax vessel, but other operations
indices is “another confirmation of our last for the North Sea operated assets, said: were not affected, a company spokesperson
12 months’ performance, materialised in “We achieved first gas from the well on said.
the almost threefold increase of TeraPlast’s 25 August. The production is in line Sture is a major export facility for crude,
share price on the stock exchange, together with subsurface prognosis and pre-drill which arrives by pipeline from several
with the distribution of substantial dividend, estimates. offshore fields including Equinor’s Oseberg,
which made the title very attractive,” said the “The commercial discovery is important Lundin Energy’s Edvard Grieg and Aker BP’s
company’s CEO, Alexandru Stanean. for Grove as it opens up future growth Ivar Aasen, according to Equinor’s website.
At the end of the August 20 trading opportunities in and around the licence Activists entered the terminal’s safety zone
session, the total market capitalisation blocks. The discovery adds volumes and with a boat, and also blocked a road leading to
of all companies listed on the BVB was prolongs the Grove field life from 2022 to the terminal.
RON213.6bn, almost 50% higher than on at least 2028”, Kabra added. “We decided to interrupt the loading, but
September 18, 2020, immediately before The well targeted an unappraised the terminal operates as normal,” Equinor
Romania’s elevation to Secondary Emerging northeastern segment of the Grove field. spokesperson Eskil Eriksen said.
Market status. . The volume range will be updated after “We have notified the police and they are
the well has been onstream for a while and handling the situation,” he added.
production data are gathered and analysed. The TS Bergen’s destination was
Azerbaijan reports $7.8bn of Resolve, a heavy-duty jack-up rig from Rotterdam, according to Eikon data.
Spirit drilled the well using the Maersk

1H oil, gas exports Maersk Drilling. The jack-up is slated to
work for Ineos, also in the North Sea, in
Azerbaijan exported oil and gas worth over 3Q 2021.
$7.75bn in 1H 2021, according to local media

P20 www. NEWSBASE .com Week 34 25•August•2021