Page 17 - GLNG Week 19 2022

GLNG NEWSBASE’S ROUNDUP GLOBAL (NRG) GLNG

NewsBase’s Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global section of the Nord Stream 2 gas pipeline to serve
(NRG), in which the reader is invited to join domestic demand, after Germany put the export
our team of international editors, who provide a project on hold in response to Moscow’s actions
snapshot of some of the key issues affecting their in Ukraine. Gazprom said on May 5 it would use
regional beats. We hope you will like NRG’s new the 55bn cubic metre per year pipeline’s onshore
concise format, but by clicking on the headline link facilities to work in expanding gas supplies to
for each section the full text will be available as customers in north-west Russia.
before.
GLNG: Mitsui writes down value of Russian
AfrOil: South Sudan plans slow-motion na- LNG investments
tionalisation of oil sector Japan’s Mitsui & Co. said that it had written down
Awow Daniel Chuang, the undersecretary of the value of its investments in two Russian LNG
South Sudan’s Ministry of Petroleum, said on projects by a combined JPY80.6bn ($617mn).
May 6 that Nilepet, the national oil company, The company reduced the value of its 12.5%
had begun the process of taking over the projects stake in the Sakhalin-2 oil and LNG project by
now led by foreign investors. Speaking to report- JPY44.1bn ($338mn) and cut the value of its
ers in Juba, Chuang said South Sudan wanted to investments in the under-construction Arctic
gain more control over its own oil industry so LNG 2 project by JPY36.4bn ($279mn).
that it could collect a larger share of revenues,
even if output levels sink. LatAmOil: Chevron seeks new opportuni-
ties offshore Brazil
AsianOil: Chinese yards to stop work on Chevron is looking for openings to invest in
modules for Arctic LNG 2 major new projects in Brazil’s offshore zone,
Chinese yards are reportedly set to halt work on according to Mariano Vela, the US major’s
modules for the Novatek-led Arctic LNG 2 pro- country manager. Speaking on the sidelines
ject in Russia by the end of May. This comes amid of an industry conference last week, Vela said
increasingly strict Western sanctions targeting Chevron was “in the means of looking for new
the Russian economy –including the country’s opportunities.”
energy sector –in the wake of the war in Ukraine.
MEOG: Energean makes East Med find
DMEA: Duqm study and Iran dealing In MEOG this week we cover the discovery of
In this week’s DMEA, we cover progress significant gas resources in the Eastern Mediter-
towards the development of a private refinery ranean. London and Tel Aviv-listed Energean
in Oman and Iran’s efforts to sign downstream this week announced a commercial gas discov-
deals in Latin America. Canadian firm Genoil ery that it intends to tie back to facilities already
announced this week that it has completed a being deployed to develop existing reserves.
“bankable feasibility study” for the development Meanwhile, Iran and Russia are set to improve
of a private 200,000 barrel per day upgrading bilateral ties in the fields of oil and finance as
refinery at the Omani port of Duqm. Meanwhile, both countries face a shrinking pool of potential
following high-level meetings in Venezuela last partners.
week, Iran has said it is considering investing in
a new refinery in Nicaragua while inviting Bra- NorthAmOil: Canada in talks on expediting
zilian companies to invest in its petrochemicals East Coast LNG exports
sector. The Canadian government is in talks with the
developers of two proposed LNG export termi-
EurOil: Longboat clinches second Norwe- nals on Canada’s East Coast to see whether it can
gian farm-in deal help expedite those projects, it emerged last week.
North Sea-focused junior Longboat Energy has
announced a second farm-in deal off the coast See the archive and sign up to receive NRG Editor’s
of Norway, involving it in a two-well explora- Picks for free by email each week here.™
tion campaign due to take place in 2022 and
2023.Longboat has acquired 20% stakes in three
licences in the Norwegian North Sea containing
the Oswig and Velocette prospects from their
operator, Austria’s OMV, which will retain 40%
stakes in the projects.

FSUOGM: Russia puts Nord Stream 2 to
work for domestic market
Russia has announced it will use the onshore

Week 19 13•May•2022 www. NEWSBASE .com P17