FINLAND'S GAS PERMITS
GAZPROM - Nord Stream 2 AG received the second permit required for the construction and operation of the Nord Stream 2 gas pipeline in the Finnish Exclusive Economic Zone (EEZ), thereby completing the permitting procedure in Finland. Today's permit was granted by the Regional State Administrative Agency for Southern Finland in accordance with the Water Act. The first permit issued by the Finnish Government for the pipeline construction in the Finnish EEZ was received last week.
"This is an important day for our project: following a very thorough analysis and extensive engagement, the Finnish authorities have approved our detailed plans to construct and operate the 374-kilometer Finnish section of the 1,230-kilometer Nord Stream 2 gas pipeline. We look forward to continuing the constructive cooperation and open dialogue with the Finnish authorities during the construction and subsequent operation phases of the project as they monitor the implementation of our plans," said Tore Granskog, Permitting Manager Finland at Nord Stream 2 AG.
The Finnish permitting procedure was initiated in autumn 2017 after the environmental impact assessment (EIA) phase, which was a prerequisite for proceeding to the permitting phase. The EIA and statements received during the consultations were used as a basis for decision-making in permitting. Nord Stream 2's Finnish EIA report was awarded a "Good EIA Award" by the Finnish Association for Impact Assessment in March 2018 and was credited for the inclusion of an extensive amount of information about the project's implementation alternatives and their environmental impacts, among others. During the process, extensive consultations were carried out with various stakeholders.
All necessary permits needed for the project were also received in Germany. The national permitting procedures in the other three countries along the route – Russia, Sweden and Denmark – are proceeding as planned.
Nord Stream 2 is an international project for the construction of a gas pipeline across the Baltic Sea. The pipeline will provide reliable supplies of Russian natural gas to European consumers via the best possible route. Nord Stream 2 will largely follow the route and technical concept of the successful Nord Stream pipeline. The new gas pipeline will have the capacity of 55 billion cubic meters of gas per year, which will be sufficient to provide 26 million households with heat and electricity every year. Natural gas supplies will help lower CO2 emissions across the European Union, as well as create a more balanced energy mix with gas substituting for coal in power generation and providing back-up for intermittent renewables such as wind and solar power.
|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.