Tag Archives: Oil & Gas Transportation Services (TRBC level 4)

Germany’s new CDU leader continues to support Nord Stream 2 | Instant News


BERLIN, January 25 (Reuters) – The new chairman of Germany’s ruling Christian Democratic Party (CDU) said on Monday he would not reconsider his support for the Nord Stream 2 pipeline to bring Russian natural gas to Europe, even though the US and Europe oppose a settlement. . .

Armin Laschet, who was elected CDU leader this month put him in the lead position to replace Angela Merkel as chancellor, urged Russia to release Kremlin critic Alexei Navalny. But when pressed on domestic energy supplies, he said “Germany decides”.

Asked if he would be ready to rethink the pipe, Laschet replied: “No.”

The pipeline, which will double the capacity of the existing Nord Stream link from Russia to Germany and through Ukraine, has met with resistance from Washington, which wants to sell its own seaborne liquefied natural gas to Europe.

Washington says Nord Stream 2 will increase Russia’s economic and political influence in the region. But Russia and Germany have long said it was a commercial project.

EU lawmakers passed a resolution on Thursday calling for the bloc to halt the settlement of Nord Stream 2 in response to Navalny’s arrest.

The consortium behind the pipeline said on Sunday that the pipeline laying vessel had started work in Danish waters ahead of the resumption of construction suspended in December 2019 following US sanctions threats.

More than 90% of the project, led by Russian gas giant Gazprom, is already complete.

Referring to his call for immediate release of Navalny, Laschet said this was a point of principle, “but you still have to look for opportunities to cooperate,” he added.

Germany and Russia, he said, had maintained academic and business ties even at the height of the Cold War.

“The Paris agreement on climate change without Russia is only half effective, so this is an area where we have to work with each other to find a good solution,” he told reporters.

Asked if Germany could be open to changing its position on Nord Stream 2 after Merkel spoke with US President Joe Biden, Laschet replied:

“We will talk in great detail about the direction of the relationship. It’s just that the question of Germany’s energy supply is ultimately a question that Germany decides, in a European context. (Written by Paul Carrel; Editing by Andrew Heavens)

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New Fortress Energy is betting on Brazilian LNG growth with the acquisition of Hygo | Instant News


RIO DE JANEIRO (Reuters) – US-based New Fortress Energy Inc said on Wednesday it would buy natural gas company Hygo Energy Transition Ltd for $ 2.18 billion to expand its presence in Brazil, the frontier for growth in the burgeoning liquefied natural gas market. developing.

New Fortress, an energy infrastructure company, is among the private sector players turning their sights to Brazil, where demand for super-cooled LNG is increasing, although the market is smaller than in India and China, where power generation is shifting away from more coal. dirty to natural gas.

With Brazil opening up its natural gas industry to private investors, other companies including oil major BP PLC and US-based EIG Global Partners are also planning multibillion-dollar investments in the country.

New Fortress, a growing competitor in the LNG industry, has a small liquefaction plant in Florida and ships LNG throughout the Caribbean. In the past year, its market value has jumped 286% to $ 10 billion, according to Refinitiv Eikon data. The company is building a larger LNG import terminal in Mexico.

The company will acquire all of Hygo’s outstanding shares for 31.4 million shares of NFE Class A common stock and $ 580 million in cash.

Brazil’s annual demand for LNG is expected to grow by more than 80% by 2021, the fastest rate in the world, although its starting point is relatively low compared to large Asian consumers, said Kristen Holmquist, forecasting specialist at Poten & Partners.

Unlike these countries, most of Brazil’s electricity comes from hydropower. This LNG supply is partly intended to replace the supply of natural gas from pipelines originating from Bolivia.

Hygo transports supercooled fuel and has become a key player in Brazil’s natural gas industry as state-controlled Petrobras sells assets, canceling what was almost a monopoly on the market.

Hygo – a 50-50% joint venture between US private equity firm Stonepeak Infrastructure Partners and Golar LNG – has recently invested in a number of LNG projects in Brazil for power generation. The company is also competing to operate a highly desirable LNG import terminal which is leased by Petrobras.

“There is strong growth in Brazil for electricity-powered projects,” Holmquist said in a webinar on Wednesday.

Hygo has told Reuters in 2020 that it plans to use LNG instead of diesel in trucks.

The transaction has a corporate value of $ 3.1 billion and an equity value of $ 2.18 billion, according to the statement.

The Hygo acquisition comes four months after the company’s trading debut in New York was suspended at the last minute after Brazilian federal prosecutors said the then company’s chief executive was appointed in the early stages of a corruption investigation, to activity at the company previously.

The CEO at the time, Eduardo Antonello, had left the company. He hasn’t been charged.

New Fortress also agreed to buy Hygo’s controlling company, Golar LNG Partners LP for about $ 251 million in general equity value and a company value of $ 1.9 billion.

Golar LNG Ltd was up 15% in US trading, while New Fortress Energy was up 10%.

Reporting by Sabrina Valle and Rithika Krishna; Edited by Maju Samuel, Krishna Chandra Eluri, Steve Orlofsky and David Gegoryo

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Pakistan LNG seeks two cargoes for April delivery – documents | Instant News


SINGAPORE, December 31 (Reuters) – Pakistani LNG is seeking two cargoes of liquefied natural gas (LNG) for delivery in April, a tender document posted on the company’s website shows.

The state-run procurement agency is looking for cargo on an ex-ship basis (DES) to be dispatched in the Qasim Port, Karachi, for delivery between April 5 to 6 and April 19 to 20, according to the document.

Tender closes on January 29 and remains in effect until February 12 (Reporting by Jessica Jaganathan; Editing by Christian Schmollinger)

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Snam Italia, A2A collaborates to help FNM with hydrogen train | Instant News


FILE PHOTO: Italian gas group Snam logo seen outside their office in Rome, Italy, 4 June 2020. REUTERS / Guglielmo Mangiapane

MILAN (Reuters) – Italian gas group Snam and regional utility A2A are working together to find ways to refuel Italy’s FNM transport group’s new hydrogen train from renewable energy sources, the three companies said on Tuesday.

FNM said in November it would invest as much as 160 million euros ($ 196 million) to purchase a series of hydrogen-powered trains from France’s Alstom.

A2A this month signed a deal with FNM to find the best way to supply green hydrogen to power trains.

“With this agreement, we strengthen our commitment to invest in the decarbonization of Italian rail transport via hydrogen,” said Snam CEO Marco Alvera.

Snam, Europe’s largest gas transportation group, is investing in green hydrogen and says 70% of its natural gas network consists of “ready hydrogen” pipes.

($ 1 = 0.8172 euros)

Reporting by Stephen Jewkes; edited by John Stonestreet

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Italy recruits Eni, Snam and CDP to help drive the energy transition | Instant News


MILAN (Reuters) – Energy companies Eni and Snam are working with Italian sovereign lender CDP to work on an energy transition project aimed at reducing carbon emissions.

FILE PHOTO: Italian energy company Eni logo seen at a gas station in Rome, Italy August 16, 2018. REUTERS / Max Rossi

The three groups said in a joint statement on Wednesday that they would work together to produce, transport and market green hydrogen as well as use the gas for rail transport.

Italy aims to invest around 10 billion euros ($ 12.2 billion) in hydrogen by 2030 as part of its strategy to decarbonize the economy as it moves to phase out fossil fuels.

Cassa Depositi e Prestiti (CDP), controlled by the Italian Ministry of Finance, is a major shareholder of the oil and gas infrastructure group Eni and gas Snam.

The three groups said they would work together to launch a refueling station for hydrogen, natural gas and LNG (liquefied natural gas) and build infrastructure to supply LNG nationwide for transportation.

They will also develop a Carbon Capture and Storage Unit (CCUS) to produce hydrogen to cut emissions in sectors that are difficult to decarbonize, such as refineries.

The deal is part of a broader commitment to help achieve Europe’s target of reducing carbon emissions by 55% by 2030.

“Collaboration between companies is essential to achieve national and European decarbonization goals,” said CEO Snam Marco Alvera.

Snam, which derives most of its revenue from gas transportation in Italy, has promised to spend more on a new, environmentally friendly line of business.

Eni, which has pledged to cut greenhouse gas emissions by 80%, is betting on large-scale CCUS investments to help clean up gas in its portfolio as oil wanes after 2025.

($ 1 = 0.8205 euros)

Reporting by Stephen Jewkes; Edited by Maria Pia Quaglia and Alexander Smith

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