TURKEY STREAM IN EXECUTION
The project to construct a new gas pipeline with a capacity of 63 billion cubic meters from Russia to Turkey has entered the execution stage, Russian energy giant Gazprom has said by a written statement on late Feb. 24.
"The gas transmission route will be laid via the Black Sea and will annually supply up to 47 billion cubic meters of gas to the Turkish-Greece border. The gas pipeline will represent an alternative export route, which, in combination with the highly-reliable Nord Stream, Blue Stream and Yamal-Europe gas pipelines, will secure the entirety of Russian gas exports beyond the CIS and make it possible to abandon the transit corridor via Ukraine," the company said.
With a view to provide stable and well-balanced supplies of Russian gas to Europe, as well as to mitigate the risks related to gas transit via third countries, the company makes great efforts to expand the existing gas transmission routes and build up new ones, Gazprom said.
The company noted it would also focus on supplying significant volumes of Russian pipeline gas to the Asia-Pacific region.
"Work is underway to have the resource and transmission base in place for the start of gas supplies from Russia to China via the eastern route. The Agreement on Russian gas purchase and sales via the western route is being formulated," the company said.
Gazprom also said it will build up its presence in new markets primarily by increasing its own production activity.
"We plan to construct LNG plants with a capacity of 10 million tons a year in the Leningrad Region and the Primorye Territory. We are also considering the possibility of constructing a new process train within the Sakhalin II project," Gazprom said.
|September, 21, 11:00:00|
|September, 21, 10:55:00|
|September, 21, 10:45:00|
|September, 21, 10:40:00|
|September, 21, 10:35:00|
|September, 21, 10:30:00|
U.S. EIA - Energy companies’ free cash flow—the difference between cash from operations and capital expenditure—was $119 billion for the four quarters ending June 30, 2018, the largest four-quarter sum during 2013–18 Companies reduced debt for seven consecutive quarters, contributing to the lowest long-term debt-to-equity ratio since third-quarter 2014
OPEC - Total oil demand for 2018 is now estimated at 98.82 mb/d. In 2019, world oil demand growth is forecast to rise by 1.41 mb/d. Total world oil demand in 2019 is now projected to surpass 100 mb/d for the first time and reach 100.23 mb/d.
ARAB NEWS - Oil exports from southern Iraq are heading for a record high this month, two industry sources said, adding to signs that OPEC’s second-largest producer is following through on a deal to raise supply and local unrest is not affecting shipments.
PLATTS - The International Energy Agency expects the US to account for 75% of the global growth in natural gas exports over the next five years, a bullish outlook for LNG developers facing challenges at home getting projects off the ground and abroad with tariffs affecting trade flows.