Page 15 - GLNG Week 40 2022

GLNG NEWSBASE’S ROUNDUP GLOBAL (NRG) GLNG

NewsBase’s Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global FSUOGM: Russia seizes Sakhalin-1 oil and
(NRG), in which the reader is invited to join gas project
our team of international editors, who provide a Russian President Vladimir Putin on October
snapshot of some of the key issues affecting their 7 ordered the seizure of the ExxonMobil-led
regional beats. We hope you will like NRG’s new Sakhalin-1 oil project, signing a decree that
concise format, but by clicking on the headline link establishes a new operator to manage the devel-
for each section the full text will be available as opment. It follows a similar presidential decree
before. introduced at the end of June, under which Rus-
sia transferred all rights and obligations of the
AfrOil: DR Congo rejects US request to scale consortium managing the Sakhalin-2 project to
back onshore licensing round a Russian entity.
The Democratic Republic of Congo (DRC) has
rejected a request from US climate envoy John GLNG: Kinder Morgan sells half its stake in
Kerry to reduce the number of blocks included Elba Island LNG
in its current onshore licensing round from 30 to Kinder Morgan announced on September 27
24, Environment Minister Eve Bazaiba revealed that it had closed the sale of a 25.5% interest in
on October 5. According to Bazaiba, Kerry the Elba Liquefaction Co. (ELC) joint venture,
made the request at a meeting with the DRC’s which operates a liquefaction plant on Elba
President Felix Tshisekedi on October 4, arguing Island in Georgia. The stake, which represents
that preventing oil and gas exploration at those half of Kinder Morgan’s interest in ELC, has been
blocks was necessary to protect forests. sold to an undisclosed buyer for around $565mn.

AsianOil: EIG vehicle snaps up stakes in LatAmOil: Staatsolie confirms plans for
Australian LNG projects for $2.15bn deepwater auctions in Q4-2022
MidOcean Energy, backed by US private equity Staatsolie, the national oil company of Suriname,
group EIG, has struck a deal to acquire Tokyo has confirmed that it still intends to launch a
Gas’ interests in four integrated Australian LNG licensing round for deepwater acreage before the
projects for $2.15bn in cash, EIG said in a state- end of this year. Representatives of the company
ment on October 7. The projects – Gorgon LNG, made statements to this effect at the Guyana
Ichthys LNG, Pluto LNG and Queensland Curtis Basins Summit (GBS) 2022. At the conference,
LNG – are situated on Australia’s east and west they reported that Staatsolie would be kicking off
coasts and are major suppliers of LNG to Asian the licensing round before the end of the fourth
markets. quarter of 2022.

MEOG: NewMed, Capricorn merger
DMEA: UAE’s retail fuel consumption up NewMed Energy announced this week that it
The UAE is seeing retail fuel consumption grow would merge with UK-based Capricorn Energy
on the back of improvements in the economy, in a shares-plus-cash deal that combines a wealth
but without returning to the level that prevailed of gas-rich assets around the Mediterranean.
before the coronavirus (COVID-19) pandemic, The agreement will see shareholders in Capri-
according to Saif Humaid Al Falasi, the group corn – formerly Cairn Energy – receive a special
CEO of Emirates National Oil Co. (ENOC). dividend of $620mn and the new entity will be
Speaking to Khaleej Times on the sidelines of an listed under NewMed – formerly Delek Drilling
industry conference, Al Falasi noted that Emirati – whose shareholders will hold an 89.7% stake
fuel markets had not yet fully recovered from the in the new “MENA gas and energy champion”.
blows sustained in 2020.
NorthAmOil: Suncor to offload wind, solar assets
EurOil: EU members still fail to make head- in shift in energy transition focus
way on gas price cap proposal Leading oil sands producer Suncor Energy said
EU leaders convened once more on October 7 on October 5 that it had agreed to sell its wind and
to discuss the introduction of a price cap on gas solar assets to ATCO-owned Canadian Utilities
imports, but once more, member states failed to for CAD730mn ($527mn). In a statement, the
decide on what form the measure would take. company said it would shift its focus to areas that
Ahead of the summit, a majority of EU countries were more complementary to its core business,
asked the European Commission to propose the such as hydrogen and renewable fuels, in line
gas prices. with previous announcements.

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