New York’s First Offshore Wind Farm: Ørsted, Eversource Sanction 130MW South Fork Wind Project
Ørsted and Eversource have taken the final investment decision (FID) on the South Fork Wind project that will be New York’s first offshore wind farm. The FID comes after the South Fork Wind joint venture, owned 50/50 by Ørsted and Eversource, last month received final approval from the Bureau of Ocean Energy Management (BOEM) for its construction and operations plan, the final in the agency’s review of the project. Once completed at the end of 2023, the 130MW offshore wind farm will generate enough electricity to power 70…
EU Funding for Polish LNG Terminal Expansion
The Polish government and the Polskie LNG company signed a grant agreement on 24 April for the extension of the Liquefied Natural Gas (LNG) terminal in Świnoujście, in north-western Poland on the Baltic Sea coast.Almost EUR 128 million from the European Regional Development Fund is invested in extending this terminal, which is the only facility of its size in Northern, Central and Eastern Europe.Commissioner for Regional Policy Corina Creţu said: "The extension of the Świnoujście terminal will help diversify natural gas supply sources and improve the country’s energy security. This is a new example of the Energy Union in motion, supported…
Snam, Enagás, Fluxys Complete DESFA Acquisition
The consortium consisting Italy’s Snam, Spain’s Enagás and Belgium’s Fluxys has completed the acquisition of a 66 percent stake in Greek natural gas operator DESFA.According to a joint release, the purchase valued at €535 million ($613.9 million) has been completed with the Hellenic Republic Asset Development Fund (HRADF) and Hellenic Petroleum.The consortium, which won the tender for the privatisation of DESFA in April 2018, has closed the purchase through the new company Senfluga Energy Infrastructure Holdings. The consortium has obtained financing without recourse for more than 10 years, corresponding to approximately 65% of the value of the company.DESFA owns and operates…
EU Approves State Aid for Lithuania’s Klaipėda LNG Terminal
The European Commission said that the EC has approved under EU State aid rules the compensation granted by Lithuania to LITGAS for supplying a mandatory quantity of liquefied natural gas (LNG) to the LNG terminal in Klaipėda.In November 2013, the Commission approved under EU State aid rules an aid scheme to support the construction and operation of a liquefied natural gas (LNG) terminal at the Klaipėda seaportin Lithuania The LNG terminal has, since its construction, played a vital role in the diversification of gas supplies and security of supply in Lithuania.In June 2018, Lithuania notified the Commission of certain changes to the aid scheme approved in 2013 namely public service obligation of LITGAS and removal of purchasing obligation.To ensure security of supply…
EC Approves Aid for Finland's First LNG Terminal
The European Commission has approved under EU state aid rules Finland's plans to grant €23 million to construct a small scale LNG terminal at Pori on Finland's west coast. The European Commission has concluded that Finland's plans to grant €23 million of public funding for the construction of a small scale LNG terminal at Pori, in the Satakunta region on Finland's west coast, are compatible with EU state aid rules. The project aims to encourage the use of LNG as fuel for ships, in place of fuel oils and liquefied petroleum gases. The Commission concluded that the project contributes to environmental protection and to the security of gas supply in Finland whilst maintaining competition in the Single Market.
Industrial Action likely on Curtis Island, Australia
Following BG Group’s second quarter results announcement on Thursday 31 July, the company updates that late yesterday the Construction, Forestry, Mining and Energy Union (CFMEU) – one of the four unions representing workers at the QCLNG plant on Curtis island, Queensland, Australia – has given notice to Bechtel of its intent to take protected industrial action on Thursday 7th August. BG Group is not aware of the scope or duration of this proposed industrial action from this particular union body. As such, there remains no change to the current expected first LNG date from the QCLNG project in the final quarter of 2014. BG Group will update the market if any potential industrial action, or other material event, is likely to negatively impact the current schedule for first LNG.
Polish PM Calls For EU Energy Union To End Dependence On Russian Gas
The European Union must create an energy union to secure its gas supply because the current dependence on Russian energy makes Europe weak, Poland's Prime Minister Donald Tusk wrote in an article in the Financial Times. Russia, which provides around one third of the EU's oil and gas, sent shockwaves through the international community with its military intervention and annexation of Ukraine's Crimea peninsula in March. The action prompted the United States and its European allies to begin imposing sanctions on President Vladimir Putin's inner circle and to threaten to penalise key sectors of Russia's economy if Russia escalates tensions with Ukraine.
