SOUTH STREAM: FIRST GAS 2015
Pipelay for South Stream Line 2 will begin in mid-2015, with first natural gas flow from Line 1 following later that year. Trond Gjedrem, materials manager for South Stream Transport BV, made these remarks May 12 at the Pipeline Technology Conference in Berlin, despite the European Parliament having voted last month that South Stream should not be built.
Also since this vote, OAO Gazprom and Austria-based OMV AG agreed to construction terms allowing South Stream gas to reach Austria by 2017 (OGJ Online, Apr. 30, 2014).
The subsea portion of South Stream will cover 911 km across the Black Sea from Russia to Bulgaria, with four parallel 15.75 billion cu m (bcm)/year lines planned for a total finished operating capacity of 66 bcm/year. New strings would be brought on in staggered succession following Line 1, Gjedrem continued, with Line 2 starting in 2016, Line 3 in early 2017, and Line 4 in late 2017.
Line 1 will use S-lay installation for the landfall segments in both Russia and Bulgaris, with the Saipem 7000 preforming J-lay for the 800-km section of 2,200-m water depth. Multiple 32-in. OD lines were chosen for the project instead of a single larger line due to pressures in water that deep. South Stream expects to lay 2-3 km/day. Each line will use 75,000 joints of pipe.
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LUKOIL - The plan is based on the conservative $50 per barrel oil price scenario. Sustainable hydrocarbon production growth is planned in the Upstream business segment along with the growth in the share of high-margin projects in the overall production. In the Downstream business segment, the focus is on the improvement of operating efficiency and selective investment projects targeted at the enhancement of product slate.
BP - BP will acquire on completion a 43% equity share in Lightsource for a total consideration of $200 million, paid over three years. The great majority of this investment will fund Lightsource’s worldwide growth pipeline. The company will be renamed Lightsource BP and BP will have two seats on the board of directors.
REUTERS - Brent crude was up 69 cents, or 1.1 percent, at $64.03 a barrel by 0743 GMT. It had settled down $1.35, or 2.1 percent, on Tuesday on a wave of profit-taking after news of a key North Sea pipeline shutdown helped send the global benchmark above $65 for the first time since mid-2015. U.S. West Texas Intermediate crude was up 45 cents, or 0.8 percent, at $57.59 a barrel.
ROSATOM - On December 10, 2017, the construction start ceremony took place at the Akkuyu NPP site under a limited construction licence issued by the Turkish Atomic Energy Agency (TAEK). Director General of the ROSATOM Alexey Likhachev, and First Deputy Minister of Energy and Mineral Resources of the Turkish Republic, Fatih Donmez, took part in the ceremony.