EU, Norway Eye Arctic Oil, Gas Deposits

Thursday, August 31, 2006
EU and Norway’s energy officials met in Brussels on August 30 to examine ways of strengthening a bilateral energy dialogue launched in 2002. Short-term issues include increasing Liquefied Natural Gas (LNG) deliveries to Europe as well as the planned opening in October 2006 of the "Britpipe" linking Sleipner in Norway to Easington, UK. By 2015-2020, natural gas deliveries from Norway are expected to grow from 85 billion cubic meters to 120 bcm, EU officials said. However, talks on longer-term exploitation of the expected huge oil and gas reserves in the Arctic will probably attract most attention. The region is believed to hold 25 percent of the earth's hydrocarbons, according to the US Geological Survey. And as international demand for fossil fuels continues to rise, the High North is attracting growing interest from big oil and gas companies. But a territorial row between Norway and Russia in the so-called "disputed zone" of the Barents Sea has so far prevented further exploration, let alone commercial exploitation of these resources. According to euractiv.com, natural gas deposits in the Arctic, such as the Shtokman and Snøvit gas fields could provide as much as 50 bcm of gas per year, covering 7-9 percent of the EU's entire gas consumption by 2020. Other problems include the high costs of deep offshore drilling and environmental concerns such as the oil and gas industry's coexistence with fisheries. The 2005 EU-Norway energy dialogue confirmed interest from both sides to strengthen cooperation on energy efficiency, renewables, and security of energy supply, including exploration and production activities in the Arctic area. (Source: www.euractiv.com)
Maritime Reporter June 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Offshore

FLNG Prelude: A New Dawn in the Age of Maritime & Energy

Longer than four football fields, as big as six Nimitz-class aircraft carriers and almost as tall as the Taipei 101 skyscraper, Royal Dutch Shell PLC is hoping that its record-setting,

Corvus Energy, GMC Close Financing Agreement

Corvus Energy today announced that it has completed a strategic investment by Green Marine Capital (GMC) previously announced on May 5, 2014. Green Marine Capital,

Valemon Topsides Installed

On Monday, July 28, the topsides were lifted into place on the steel jacket on the Valemon field in the North Sea. Produced by Samsung Heavy Industries this is

 
 
Maritime Contracts Navigation Offshore Oil Pipelines Port Authority Ship Electronics Ship Repair Ship Simulators Sonar Winch
rss | archive | history | articles | privacy | terms and conditions | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1086 sec (9 req/sec)