STATOIL SALES 20%
Italy's Snam SPA will acquire from Statoil ASA its 20% stake in Trans Adriatic Pipeline AG (TAP) for €208 million. The transaction is expected to close by yearend. Statoil has been part owner in TAP since 2008, but divested its share of the Shah Deniz gas field in Azerbaijan in 2014.
The 882-km TAP system will be the westernmost section of the Southern Gas Corridor, a 3,500-km gas system linking Shah Deniz Stage II to gas markets in Europe. TAP will connect with the Trans-Anatolian Natural Gas Pipeline (TANAP) at the Greece-Turkey border. It will cross northern Greece, Albania, and the Adriatic Sea before coming onshore in southern Italy, where it will link with the Snam-operated Italian natural gas network.
"TAP is crucial in the diversification of gas sources in Europe through the development of the Southern Corridor from the Republic of Azerbaijan and potentially other countries," said Carlo Malacarne, Snam's chief executive officer.
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AOG - The Dubai Electricity & Water Authority (DEWA) is to invest around $22bn on new energy projects across the next five years, with the renewables sector accounting for an increasing share of electricity generation, according to CEO Saeed Mohammed Al Tayer.
TRANSCANADA - TransCanada Corporation (TSX:TRP) (NYSE:TRP) (TransCanada or the Company) announced net income attributable to common shares for fourth quarter 2017 of $861 million or $0.98 per share compared to a net loss of $358 million or $0.43 per share for the same period in 2016. For the year ended December 31, 2017, net income attributable to common shares was $3.0 billion or $3.44 per share compared to net income of $124 million or $0.16 per share in 2016.
ROSATOM - February 13, 2018, Moscow. – ROSATOM and the Ministry of Scientific Research and Technological Innovations of the Republic of Congo today signed a Memorandum of Understanding on cooperation in the field of peaceful uses of atomic energy.
FRB - Industrial production edged down 0.1 percent in January following four consecutive monthly increases. Manufacturing production was unchanged in January. Mining output fell 1.0 percent, with all of its major component industries recording declines, while the index for utilities moved up 0.6 percent. At 107.2 percent of its 2012 average, total industrial production was 3.7 percent higher in January than it was a year earlier. Capacity utilization for the industrial sector fell 0.2 percentage point in January to 77.5 percent, a rate that is 2.3 percentage points below its long-run (1972–2017) average.