FINLAND: LNG FACILITIES
Finland's Gasum and Estonia's Alexela Energia have presented collaboration models to go forward with their LNG plans in the Gulf of Finland.
'The alternative collaboration models, having facilities on both sides of the Gulf of Finland, were presented to the European Commission in Brussels yesterday and now the companies are waiting for the European Commission's position on the presented collaboration models,' reads a note released on Tuesday.
In February, the two companies signed a memorandum of understanding of feasibility studies concerning the project, coming up with a project that has been rejected by the European Commission in June. The EC did not find the project viable for investment aid.
"The negotiations were conducted in good spirit and now we are waiting for the Commission's position on the presented collaboration models. We find the development of the Gulf of Finland LNG infrastructure important in order for us to be able to ensure and diversify access to liquefied natural gas," said Gasum CEO Johanna Lamminen and Alexela CEO Marti Hääl.
|July, 16, 11:05:00|
|July, 16, 11:00:00|
|July, 16, 10:55:00|
|July, 16, 10:50:00|
|July, 16, 10:45:00|
|July, 16, 10:40:00|
AN - China National Offshore Oil Corp. (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation (NNPC) said on Sunday following a meeting with the Chinese in Abuja.
REUTERS - Production at Libya’s giant Sharara oil field was expected to fall by at least 160,000 barrels per day (bpd) on Saturday after two staff were abducted in an attack by an unknown group, the National Oil Corporation (NOC) said.
IMF - Output grew by 3.8 percent in 2017, underpinned by a resilient non-hydrocarbon sector, with robust implementation of GCC-funded projects as well as strong activity in the financial, hospitality, and education sectors. The banking system remains stable with large capital buffers. Growth is projected to decelerate over the medium term.
IMF - Higher oil prices and short-term portfolio inflows have provided relief from external and fiscal pressures but the recovery remains challenging. Inflation declined to its lowest level in more than two years. Real GDP expanded by 2 percent in the first quarter of 2018 compared to the first quarter of last year. However, activity in the non-oil non-agricultural sector remains weak as lower purchasing power weighs on consumer demand and as credit risk continues to limit bank lending.