Page 14 - EurOil Week 29

EurOil PIPELINES & TRANSPORT EurOil

Gazprom sheds stake in Latvian

gas grid operator

LATVIA RUSSIA’S Gazprom has finally divested its stake The Russian company held its latest auction
in Latvian gas transmission system operator for the asset in December last year, revealing
The move draws a line (TSO) Conexus Baltic Grid, as required under later that it had collected two bids. Augstspri-
under the unbundling of EU law, Latvia’s economy ministry said on July eguma Tikls, which had a pre-emptive right to
Latvia’s gas grid. 21. The 34.1% stake has been sold to Latvia’s the stake as an existing shareholder, has not said
state-owned Augstsprieguma Tikls, bringing its how much it paid. But the starting price for offers
total interest in Conexus to 68.5%. in Gazprom’s December contest was €79mn
Conexus was separated from Latvian gas sup- ($87mn).
ply firm Latvijas Gaze (LG) in December 2016, Conexus’ prize asset is the Incukalns under-
under unbundling rules set out in the EU’s Third ground gas storage centre, which has a capacity
Energy Package that prohibit the same com- of 2.3bn cubic metres of gas. There are plans to
panies from controlling both gas supply and expand the facility.
transmission. Gazprom was forced to relinquish its owner-
LG’s shareholders – Gazprom, another Rus- ship of transmission operations in Lithuania and
sian firm called Itera, the EU’s Marguerite fund Estonia back in 2014 and 2015 respectively. This
and Germany’s Uniper Ruhrgas – were given paved the way for the two countries to import
deadlines to sell the stakes in Conexus. Uniper gas from alternative sources. Lithuania launched
Ruhrgas and Itera left the company in 2017 and the Klaipeda LNG import terminal in late 2014,
2018, selling their interests to Augstsprieguma while Estonia commissioned a pipeline to Fin-
Tikls. Marguerite sold its stake in Japanese con- land late last year, although it can only import
glomerate Marubeni earlier this year. Russian gas via this route.
Gazprom has delayed shifting its stake for Gazprom delivered 1.664 bcm of gas to Lat-
years, complaining that it has been unable to via in 2019, according to its own data, up 27.8%
get an attractive enough offer. It was reportedly year on year. It sold 938mn cubic metres of gas to
stripped of its voting rights and managerial con- Lithuania and 269 mcm to Estonia, down 31.7%
trol at Conexus back in early 2018. and 38.2% respectively. ™

Titan LNG secures EU funds for

bunkering expansion

NETHERLANDS DUTCH LNG supplier Titan LNG has secured in shipping fuel have spurred investment in new
EU grant funds for an LNG and bio-LNG supply LNG bunkering infrastructure.
Titan LNG will use the chain it wants to establish in Northwest Europe, “Our customers in the shipping sector are
funds to add bunkering it said on July 17. facing a choice for the future: run on marine
barges in northwest In a statement, Titan LNG said it had received gasoil, heavy fuel oil with scrubbers, or go for
Europe. an €11mn ($12.6mn) grant from the EU’s Con- (bio) LNG, the only proven alternative fuel
necting Europe Facility (CEF) for its Bio2Bunker that is scalable right now,” Titan LNG said in
project. Bio2Bunker involves the positioning of a statement.
three bunker barges in Zeebrugge in Belgium, Titan LNG sees long-term potential for LNG
Rotterdam in the Netherlands and Luebeck in as a marine fuel, describing it as “future proof.”
Germany. These barges will be similar to Titan LNG can be combined with bio-LNG, and then
LNG’s existing pair of FlexFueler vessels. synthetic liquefied gas, created by combining
Titan LNG plans to build a mothership green hydrogen and CO2, it said.
known as Titan Hyperion to resupply the Titan LNG said the EU funding would help it
FlexFuelers. overcome barriers and scale up the use of LNG
Northern Europe is leading the way in LNG and bio-LNG as fuels. Besides LNG bunkering,
bunkering, and stricter International Marine Titan LNG is also involved in the supply of LNG
Organisation (IMO) rules on sulphur content to customers on land. ™

P14 www. NEWSBASE .com Week 29 23•July•2020