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Decisions due on coal, gas, petroleum auctions

BANGKOK: After a year of changes in the global and domestic energy market, Thailand can expect further challenges in the years ahead. Of these, the most crucial issues are the development of two coal-fired power plants in the South, the retirement of the Erawan and Bongkot gas blocks and the long-delayed 21st round of new concessions for 29 petroleum blocks. ... Read More »

UAE consider to scrap subsidies on electricity, gas

ABU DHABI: While understanding that the impact on removing subsidies on domestic electricity would not be that great to the consumer, the United Arab Emirates is looking at removing subsidies on both electricity and on gas sold to companies generating power. “Consumers need to pay the real price. They already do so for petrol and diesel, and electricity is still ... Read More »

North Sea oil, gas to decrease by 94% in 2015

WASHINGTON: The Office for Budget Responsibility (OBR) has forecast receipts from North Sea oil and gas will be down by 94% this year to just £130m. Unionist politicians claimed an independent Scotland would have seen a “catastrophic” fall in income. The Scottish government had predicted revenues of up to £7.5bn in its independence white paper. A spokesman for Finance Secretary ... Read More »

UK gas-prices gain on sharply fall in Norwegian supplies

LONDON: British spot gas prices rebounded as domestic and Norwegian supplies declined, while higher estimated exports to Belgium further tightened the supply-demand balance. Prices for within-day delivery were up 1.10 pence at 41.75 pence per therm at 0720 GMT. The day-ahead contract rose 2.33 percent at 41.65 pence per therm. The United Kingdom was undersupplied by 8 million cubic metres/day ... Read More »

Total sells $900m of UK gas assets

1LONDON: Total, one of the biggest energy firms operating in the North Sea, has sold off $900m (£585m) of UK gas interests to cut costs, amid the continuing collapse of oil prices. The French group is disposing of its interests in two pipelines – one which delivers gas from 20 North Sea fields – and its ownership of the St ... Read More »

Japan’s equity oil, gas liftings volumes record 24.7% in 2014-15

TOKYO: Equity oil and gas lifting volumes accounted for nearly a quarter of Japan’s total oil and gas supply in fiscal 2014-15 — the highest ever — led by higher liftings from the Gharraf oil field in Iraq, the Ministry of Economy, Trade and Industry said Monday. The 2014-15 share of equity oil and gas liftings rose from 23.3% in ... Read More »

French company Total drops shale gas project in Denmark

PARIS: French energy company Total has halted a shale gas project in Denmark after disappointing results in exploratory drilling. Total said Tuesday the amount of gas found near Dybvad in northern Jutland was “not sufficient for commercial extraction” and that there would be no further exploration on the license “for the time being.” The license expires next year. The company ... Read More »

Iranian gas delivery to EU via Azerbaijan easier than direct export

TEHRAN: An Iranian official says the Islamic Republic and Azerbaijan have been talking on transiting gas to Europe. Azerbaijani and Iranian officials have in recent weeks discussed in Tehran ways to export Iran’s gas to Europe via Azerbaijan, the Fars news agency quoted an unnamed official as saying Aug. 18. Recently, on Aug. 4, an Azerbaijani delegation headed by Economy ... Read More »

Brazil’s Subsalt Polygon could contain 176bn barrels of oil, gas

BRASILIA: A study by scientists at Rio de Janeiro State University has found that offshore resources in Brazil’s Subsalt Polygon could contain enough oil and gas to fuel the world’s demand for more than five years, according to a report on Reuters. The scientists, who work at the National Institute of Oil and Gas (INOG) in the university, say the ... Read More »

Struggling trade partners drive Turkish business to Asia markets due to political uncertainty

ANKARA: Turkish businessmen are turning to Asian markets due to the political uncertainty in neighboring countries and slow economic recovery in EU countries. More than 100 members of the Foreign Economic Relations Board (DEİK) are accompanying President Recep Tayyip Erdoğan’s China and Indonesia visit, which began on Tuesday and will conclude on Aug. Read More »

Natural Gas flow in Turkey-Iran pipeline halted after attack

ANKARA: A natural gas pipeline stretching between Iran and Turkey has come under attack inside Turkish territory late on Monday and gas flow was halted, Turkish energy minister Taner Yildiz and state gas company Botas said. The repairs on the pipeline were underway but it was not clear when the flow would be resumed, an official at Turkey’s state pipeline ... Read More »

Liquefied natural gas tanker Arctic Princess set to arrive Lithuania’s LNG terminal at Klaipeda

OSLO: Liquefied natural gas (LNG) tanker Arctic Princess is set to arrive at Lithuania’s LNG terminal at Klaipeda on July 19, port data showed. The 148,000-cubic-metre capacity tanker is delivering gas from Norway’s Snoehvit LNG plant. Lithuania opened the LNG terminal last year as it looks to reduce its reliance on pipeline gas imports from Russia. Read More »

Explosion shuts down Iran-Turkey natural gas pipeline

ANKARA: Turkey’s energy minister says an explosion on a natural gas pipeline between Iran and Turkey caused a large fire and shut down the flow of gas. Taner Yildiz said Tuesday the explosion was in Agri province, some 15 kilometers from the Iranian border, and he suggested Kurdish rebels were to blame. He said the fire was quickly brought under ... Read More »

Russia and Turkey can’t agree on gas prices

ANKARA: Turkish officials told Reuters that Gazprom and Turkey are “likely to finalise a deal on natural gas prices by mid-July.” Russia’s big plan to build the Turkish Stream might have hit a snag as Russia and Turkey can’t agree on gas prices. Russia’s Gazprom and Turkey’s BOTAŞ had a six-month period to agree on the prices for gas supplies. ... Read More »

Polish natural gas H1 sales increases by almost 50% y/y

WARSAW: Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) announced its estimated Q2 results, ISBNews reported. In Q2, the company sold 4.67 billion cbm of natural gas, in comparison with 3.35 billion cbm in Q2 2014. In H1 the sales amounted to 12.35 billion cbm, while in the corresponding period of 2014, PGNiG sold 8.25 billion cbm. Simultaneously. Read More »

Turkey to import more Iranian gas at discount price

ANKARA: Iranian Ambassador to Turkey Ali Reza Bigdeli said Turkey will purchase more natural gas from Iran, which will grant a certain reduction in gas prices accordingly. He added that a new agreement is needed so that Turkey can receive a discount from Iran for natural gas. “The formula has been accepted by us,” said the ambassador, and also underlined ... Read More »

Iran and Turkey need to form new natural gas deal to gain price discounts

ANKARA: Iran and Turkey need to form a new natural gas deal to gain price discounts in the gas trade, Iranian Ambassador to Turkey Alireza Bikdeli said on late June. Speaking to members of the Economy Journalists Association in Ankara, Bikdeli discussed possible solutions to the natural gas price dispute between Turkey and Iran. Turkey will buy more natural gas ... Read More »

Production at Groningen gas field to slash to 13.5bcm in second half of 2015

AMSTERDAM: The Dutch government said it will cut production further at a giant gas field blamed for causing earthquakes, crimping output for energy titans Royal Dutch Shell PLC and Exxon Mobil Corp. Production at the Groningen gas field will be slashed to 13.5 billion cubic meters in the second half of 2015, the government said, resulting in total output of ... Read More »

Investors Suing Norway makes case in $4.4b lawsuit court case over gas-pipeline tariff cuts

OSLO: A group of investors made their concluding arguments against Norway in a $4.4 billion court case over gas-pipeline tariff cuts. A ruling on the lawsuit brought by the group, which includes Allianz SE and Abu Dhabi’s wealth fund, won’t be handed down until September or October, Finn Haugen, an Oslo District Court judge, said on Tuesday. Owners of about ... Read More »

Group of investors made concluding arguments against Norway in $4.4b

OSLO: A group of investors made their concluding arguments against Norway in a $4.4 billion court case over gas-pipeline tariff cuts. A ruling on the lawsuit brought by the group, which includes Allianz SE and Abu Dhabi’s wealth fund, won’t be handed down until September or October, Finn Haugen, an Oslo District Court judge, said on Tuesday. Owners of about ... Read More »