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the rising availability of LNG from the with the Russians about the privatisation to Norwegian oil, gas output
US and other sources. However, when the be finalised as soon as possible. That will solve
gas supply crunch started causing major the majority of the problems of the company drops in Sept but beats
difficulties for Europe and other big gas from Pancevo,” Vucic said.
buyers amid the economic rebound from This September, the Ministry of Economy forecasts
the coronavirus crisis, Turkey somewhat invited all interested local and foreign legal
changed its tune and stepped up efforts to entities to take part in the privatisation Norway’s petroleum output in September
seal new pipeline deliveries. process through a strategic partnership model. fell from the previous month, but exceeded
Turkey was also coming to rely on a The ministry envisages a recapitalisation of official forecasts, preliminary data from the
steady increase in hydroelectric power, €150mn through which a stake of 90% at the Norwegian Petroleum Directorate (NPD)
but prolonged drought conditions have most would be acquired. showed on October 20.
undermined that sector’s contribution to Crude oil output declined to 1.77 million
the grid. barrels per day (bpd) in September from 1.81
Turkey consumes between 45 bcm to Consortium of foreign million bpd in August, but it was above the
50 bcm of gas per year, paying between official forecast of 1.75 million, the NPD said.
$12bn and $15bn, but with idled gas companies win contract Natural gas production in September fell to
plants brought back online to compensate 8.9 billion cubic meters (bcm) from 9.3 bcm a
for the mothballing of hydroelectric to assist development of month ago, but was also above the forecast of
facilities, consumption could surge to 8.6 bcm, it added.
a record 60 bcm this year, according to Turkey’s Black Sea gas
pro-government publication Daily Sabah.
Turkey imported 48.1 bcm of gas last year, discovery Gas exports lift Norway
up 6% y/y. One-third came from Russia.
Iran (pipeline) and Algeria (LNG) are State energy company Turkish Petroleum trade surplus to record high
other suppliers. Corporation (TPAO) has awarded a
Turkey may have to renew all the consortium of foreign companies a substantial Norway’s trade surplus rose last month to a
expiring long-term gas contracts with at contract in relation to the development of a record level thanks to soaring revenues from
least the same volumes to meet demand. gas field in the Black Sea that Ankara says is selling gas from its offshore fields, national
It may also have to top up its supply with Turkey’s largest-ever natural gas discovery, statistics agency (SSB) data showed on
expensive LNG, importing a little shy of 13 Daily Sabah has reported. October 15.
bcm of LNG from spot markets now seeing Schlumberger-Subsea 7 consortium, With a daily output of around four million
sky-high prices, the newspaper also noted. which supplies engineering services for barrels of oil equivalent, almost equally
Spot LNG imports so far this year stood at undersea energy projects, has reportedly divided between oil and natural gas, Norway
2 bcm, official data showed.. been contracted to provide the engineering, has been among the winners from an ongoing
procurement, construction and installation spike in global energy prices.
(EPCI) of end-to-end production solutions at The trade surplus for September rose
Vucic to speed up the Sakarya gas field. 28% from August to 53.7 billion Norwegian
crowns ($6.37 billion), the highest on record,
The integrated project scope will cover
negotiations on the subsurface solutions to onshore production, SSB said.
In total, 61% of Norway’s overall exports
including well completions, subsea production
privatisation of Petrohemija systems (SPS), subsea umbilicals, risers, came from petroleum last month, the data
showed.
flowlines (SURF) and an early production
Serbian President Aleksandar Vucic said facility (EPF). Norway supplied 22% of the natural gas
that negotiations on the privatisation of Turkey has claimed the discovery of consumed in the European Union last year,
Petrohemija Pancevo should be accelerated around 540bn cubic metres (bcm) of natural second only in size to Russia’s 34% market
“with the Russians”. gas in the Sakarya field since last year. Ankara share, according to Norwegian government
According to the Beta news agency, Naftna intends to aims to start pumping the gas to data.
Industrija Srbije (NIS), whose majority owner the national grid from 2023, with sustained The overall value of Norway’s gas exports
is Russian Gazpromneft, is the only bidder for plateau production starting in 2027 or 2028. stood at 48.7 billion crowns for September,
the privatisation of Petrohemija Pancevo. Turkey consumes between 45 bcm and 50 a rise of 27% from August and a sevenfold
Vucic added that Petrohemija currently bcm of natural gas each year, for which it pays increase from a year ago, it said.
has RSD11bn (€90mn) in its accounts and it is between $12bn and $15bn. Oil exports stood at 30.4 billion crowns,
doing well. “Petrohemija now has no problems up 116% from September 2020, when energy
with operations, but could have some in the prices were depressed due to the pandemic
future and it is important for the negotiations

Week 42 21•October•2021 www. NEWSBASE .com P19