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Meanwhile in the UAE, state-owned ADNOC stations are situated in the states of Bavaria and
launched a second trading arm focused on Baden-Wuerttemberg. OMV also has a refinery
refined products. in Burghausen in Bavaria but the plant is mostly
focused on petrochemicals rather than motor
If you’d like to read more about the key events shaping fuels, and there is “only a very limited degree of
the downstream sector of Africa and the Middle East, integration” with its fuel retail business in the
then please click here for NewsBase’s DMEA Monitor. area.
EG Group was founded by the UK’s billion-
EurOil: EU takes tougher climate action EU aire Issa brothers, who are also looking to acquire
leaders agreed on tougher climate goals on British supermarket chain Asda from US retail
December 11 following some 10 hours of talks, giant Walmart.
overcoming opposition from certain members.
The bloc will now strive towards a 55% reduction If you’d like to read more about the key events shaping
in greenhouse gas (GHG) emissions by 2030 ver- Europe’s oil and gas sector then please click here for
sus the level in 1990. This compares with a pre- NewsBase’s EurOil Monitor.
vious aim of 40%.
The deeper cut will require major changes in FSU: Nord Stream 2 work resumes
the energy and transport sectors, the European Construction work on Russia’s embattled Nord
Commission has said, as well as the mass retrofit Stream 2 gas pipeline has resumed, the project’s
of buildings to make them energy-efficient and operator said on December 11, after coming to
able to charge electric vehicles (EVs). a halt around a year ago after the US imposed The EU will now
Investment will be most significant in coun- sanctions.
tries that currently have a higher reliance on fos- The pipeline under the Baltic Sea from Ger- strive to make a
sil fuels. many to Russia is understood is be around 94% 55% reduction in
While wealthier states such as France and complete. Germany’s Authority of Waterways
Germany that already boast significant clean and Shipping Management published a notice GHG emissions
energy capacity supported tougher action, to seafarers on December 11 that building work
coal-dependent countries in Europe’s east such in German waters had resumed. by 2030
as Poland and the Czech Republic initially came It warned other ships to avoid the area until
out against the proposal. In exchange for its “around December 31”, noting that “anchoring
support, Poland secured a pledge for EU fund- or fishing is not permitted in the area of the
ing to help it transition towards clean energy. planned pipelines.”
The country currently generates some 80% of The Nord Stream 2 operating company, a
its power by burning coal, and its renewables 100%-owned subsidiary of Russian state gas
sector has stagnated in recent years because of supplier Gazprom, confirmed in a statement
unfavourable policies. that “the pipelay vessel Fortuna will lay a 2.6-km
It was also agreed that the goal would be col- section of the pipeline in the German Exclusive
lective, meaning not all individual countries will Economic Zone in water depths of less than 30
have to achieve such a significant reduction. metres.”
In news elsewhere, Austria’s OMV is push- Nord Stream 2 will pump up to 55bn cubic
ing ahead with its divestment programme, this metres per year of Siberian gas to Gazprom’s
week striking a deal to sell a network of 285 European customers. Russian authorities have
filling stations in southern Germany to the said they expect the pipeline to be up and run-
UK’s EG Group for €485mn ($588mn). The ning by early 2021.

P8 www. NEWSBASE .com Week 50 16•December•2020