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Gas Reserves News

25 Feb 2024

QatarEnergy Expanding North Field LNG Development

Source: QatarEnergy

QatarEnergy has announced that it is proceeding with a new LNG expansion project, the “North Field West” project, to raise the nation’s LNG production capacity to 142 million tons per annum (MTPA) before the end of this decade.This represents an increase of almost 85% from current production levels.Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of QatarEnergy, made the announcement during a press conference on Sunday. He said that extensive appraisal…

20 Jun 2023

Norway Moves to Open Its Waters to Deep-sea Mining

© idea_studio / Adobe Stock

The Norwegian government on Tuesday proposed opening its waters to deep-sea mining despite opposition from green campaigners and some countries, as it seeks to shift from a reliance on hydrocarbons to new sources of economic activity.Norway, whose vast oil and gas reserves made it one of the world's wealthiest countries, has taken a leading role in the global race to mine the ocean floor for metals that are in high demand as countries transition away from fossil fuels."We need minerals to succeed with the green transition…

01 Jun 2022

Italy's Snam Buys Golar Tundra FSRU for $350M

Italian gas group Snam has agreed to buy Golar LNG's floating storage regasification unit (FSRU) Golar Tundra for $350 million.The Golar Tundra can operate both as an LNG carrier and as an FSRU. The vessel, built in 2015, has a storage capacity of around 170,000 cubic meters of LNG and a continuous regasification capacity of 5 billion cubic meters per year.In order to maximise its regasification capacity, the vessel will be located in central-northern Italy, close to the areas with the greatest gas consumption. The Golar Tundra is expected to start operations as an FSRU during the spring of 2023, subject to the completion of authorization…

25 Nov 2021

Gazprom Boosts Investments to $24 Billion in 2022

(Photo: Gazprom)

Russian gas giant Gazprom said on Thursday its management had approved investments worth 1.76 trillion roubles ($24 billion) for 2022, up from initial plans of 902 billion roubles for 2021, to fund new production and refining hubs.Gazprom is developing new gas production deposits, including in the Arctic Yamal peninsula, which the government claims holds more than a fifth of global gas reserves.The company said its other priority projects for funding are the Power of Siberia pipeline to China, as well as gas processing plants and the maintenance of its existing pipeline network.Gazprom said ca

05 Nov 2021

Coral Sul FLNG Project on Track, Eni Says

Coral FLNG Unit in South Korea last year - File Image: Eni

Claudio Descalzi, CEO of the Italian oil and gas giant Eni on Friday met with Filipe Nyusi, President of Mozambique, where Eni is working to develop giant offshore gas reserves using a floating LNG unit.Descalzi updated President Nyusi on the Eni-led Coral South Project, which will put in production Mozambique’s gas resources. "The project is on track and the Coral Sul FLNG, being finalized in South Korea, is set to become the world’s first ultra-deepwater FLNG and the first LNG producer in Mozambique…

22 Oct 2021

Lebanon-Israel Maritime Border Talks Need to Be Quick, U.S. Mediator Says

For Illustration: Leviathan field offshore Israel (File Photo: Noble Energy)

The U.S. mediator for indirect talks on border demarcation between Lebanon and Israel said on Thursday that the negotiations he was hoping to revive should be concluded in a short period if they were to succeed.Amos Hochstein, speaking to Al Hadath TV during a visit to Beirut, said holding the indirect talks last year between the two sides in the presence of the United States and the United Nations was an important milestone but that it remained to be seen whether the right time to resume the talks was now."Perhaps there should be some shuttle diplomacy first…

05 Oct 2021

Lebanon Can't Dictate Terms in Sea Border Talks, Israel's Energy Minister Says

For Illustration: Leviathan field offshore Israel (File Photo: Noble Energy)

Israel is ready to renew efforts to solve its dispute with Lebanon over the delineation of their territorial waters in the Mediterranean, but it will not accept that Beirut dictates the terms of the negotiation, its energy minister said on Tuesday.The talks mediated by the United States were launched a year ago to try to resolve the dispute, which has held up exploration in the potentially gas-rich area. The talks stalled in May.U.S. special envoy Amos Hochstein is due in both…

20 Jul 2021

Perenco, SNH to Increase Utilization of Golar's Hilli Episeyo FLNG

FIle Photo: Keppel

Oil and gas company Perenco and Cameroon's national oil firm SNH have agreed with Golar LNG to increase the utilization of the FLNG Hilli Episeyo - Africa's first FLNG in operation and the world’s first converted FLNG. The Hilli Episeyo FLNG vessel moored offshore Cameroon and producing from SNH and Perenco's offshore gas fields, started producing in March 2018. The initial agreement was for the use of two of the four liquefaction trains and provided Perenco and SNH the option to increase liquefaction production.Back on March 31…

05 May 2021

Lebanon Wants No Preconditions for Maritime Border Talks with Israel

Credit:  luzitanija/AdobeStock

Lebanese President Michel Aoun said on Tuesday there should be no preconditions for talks with Israel over their Mediterranean border dispute, key to Lebanon's hopes to find gas reserves amid its worst economic crisis since its 1975-1990 civil war.Negotiations between the old foes were launched in October to try to resolve the dispute, which has held up exploration in the potentially gas-rich area, yet the talks have since stalled.A statement by the Lebanese presidency issued after the resumption of talks on Tuesday said the U.S.

04 May 2021

Lebanon, Israel Resume Talks on Maritime Border Dispute

For Illustration: Leviathan field offshore Israel (Credit: Noble Energy)

Lebanon and Israel resumed U.S.-mediated talks on Tuesday over a dispute about their Mediterranean Sea border that has held up hydrocarbon exploration in the potentially gas-rich area, an official Lebanese source said.The longtime foes held several rounds of talks in October - a culmination of three years of diplomacy by the United States - hosted by the United Nations at a peacekeeper base in southern Lebanon.But negotiations stalled after each presented contrasting maps outlining proposed borders that actually increased the size of the disputed area.On Tuesday, the talks resumed at the same

12 Apr 2021

Lebanon Expands Claim in Maritime Area Dispute with Israel

Flags of Lebanon and Israel (Credit:luzitanija /AdobeStock)

A senior cabinet minister said on Monday he had signed a document expanding Lebanon's claims in a row with Israel over their maritime border that has held up hydrocarbon exploration in the potentially gas-rich area.The amendment would add around 1,400 square kilometers (540.54 square miles) to the exclusive economic zone claimed by Lebanon in its original submission to the United Nations.Negotiations between old foes Lebanon and Israel were launched in October to try to resolve the dispute.

16 Feb 2021

Australia's South Needs LNG Import Terminal to Avoid Gas Shortfall in 2024

Credit: Wojciech Wrzesień/AdobeStock

Australia's southern states will need to import natural gas to fill a looming shortfall by 2024, as last year's COVID-19 induced oil and gas price slump has slowed investment in new fields, the country's competition watchdog said on Tuesday.Regulators have warned of a potential gas shortfall since 2016 as the market's mainstay gas source off the south coast is drying up, but the supply crunch is now rapidly approaching, the Australian Competition and Consumer Commission (ACCC) said."It is concerning that the risk of a gas supply shortfall in Australia's southern states continues…

12 Jan 2021

Norway Eyes Sea Change in Deep Dive for Metals Instead of Oil

An offshore platform in Norway - Credit:Jone Gundersen/AdobeStock

Norway's oil and gas reserves have made it one of the world's wealthiest countries but its dreams for deep-sea discovery now center on something different.This time, Oslo is looking for a leading role in mining copper, zinc, and other metals found on the seabed and in hot demand in green technologies.Norway could license companies for deep-sea mining as early as 2023, its oil and energy ministry told Reuters, potentially placing it among the first countries to harvest seabed metals for electric vehicle batteries…

02 Dec 2020

Lebanon Wants Maritime Border Talks to Succeed. Difficulties Can Be Overcome, President Says

Flags of Lebanon and Israel (Credit:luzitanija
/AdobeStock)

Lebanon wants maritime border talks with Israel to succeed and difficulties that surfaced in the last session round can be overcome, President Michel Aoun told a U.S. mediator on Wednesday after the latest round was postponed.The negotiations between the old foes were launched in October, with delegations convening at a U.N. base to try to resolve a dispute about their maritime border that has held up hydrocarbon exploration in the potentially gas-rich area.But a session scheduled for Wednesday was postponed with U.S.

19 Nov 2020

Golar LNG, Black & Veatch in Green, Blue Floater Tech Push

Liquefied natural gas shipping firm Golar LNG and the engineering giant Black & Veatch on Thursday said they would expand their long-standing FLNG relationship, and start working on projects involving floating ammonia production, carbon capture, green LNG, and hydrogen.Golar LNG said that the partnership's first area of interest was floating ammonia production with carbon capture and storage - Floating Blue Ammonia. The two companies plan to jointly publish a thought leadership paper on Floating Blue Ammonia by the end of the year.After this, the companies plan to jointly publish their thoughts "as we focus in on the technical and commercial…

13 Nov 2020

Israel, Lebanon Resume Mediterranean Sea Border Talks

Credit:Oleksii - AdobeStock

Israel and Lebanon resumed U.S.-mediated talks on Wednesday on a dispute about their Mediterranean Sea border that has held up hydrocarbon exploration in the potentially gas-rich area, the Israeli energy minister, and Lebanon’s state news agency said.The longtime foes held three rounds of talks last month hosted by the United Nations at a peacekeeper base in southern Lebanon which the world body and the United States have described as “productive”.But sources had said that gaps…

22 Oct 2020

Greece Calls for Tougher EU Stance Over Turkish Mediterranean Exploration

Greece urged the European Union on Wednesday to reconsider its customs union with Turkey in response to Ankara's continued gas exploration in contested Mediterranean areas, deploring what it termed Ankara's "imperial fantasies."After meeting Cypriot President Nicos Anastasiades and Egypt's President Abdel Fattah al-Sisi in Nicosia, Greek Prime Minister Kyriakos Mitsotakis said they all agreed that Ankara is "blatantly" violating international law."Turkey's leadership has fantasies of imperial behavior with aggressive behavior from Syria to Libya, Somalia to Cyprus, from the Aegean to the Caucus," he said.The EU should also take note of Turkey's 'many violations' of the EU-Turkey customs union accord…

27 Aug 2020

NATO Seeks to Avoid Accidents in East Med Dispute

Frigates and corvettes of the Turkish Naval Forces escorting ORUC REÄ°S seismic vessel while conducting surveys in the Eastern Mediterranean - Credit: Turkish Defense Ministry

NATO is looking at ways to avoid accidental clashes in the Eastern Mediterranean while supporting German diplomatic efforts to defuse the worsening dispute over energy resources there, the alliance’s chief said on Thursday.NATO Secretary-General Jens Stoltenberg told Reuters the Western alliance was considering so-called deconfliction measures to prevent naval accidents in an increasingly congested region, although he did not go into details.“I am also exploring the possibilities of NATO developing mechanisms to prevent incidents and accidents, a set of deconfliction mechanisms,” Stoltenberg s

02 Feb 2020

PGNiG Acquires Duva Field in Norway

PGNiG Upstream Norway, a subsidiary of Polish Oil and Gas Company (PGNiG), has obtained a final administrative consent to purchase additional 10% interests in the PL636 and PL636B licences in the North Sea.Following the transaction, PGNiG Upstream Norway’s (PUN) interests in both licences increased to 30%. As a result, the volume of Duva field gas production attributable to the Company will rise to 0.2 bcm per year.“Acquisition of fields on the Norwegian Continental Shelf is one of the investment priorities of the PGNiG Group. Our aim is to ensure that as much as possible of the gas that will flow from Norway to Poland following the launch of the Baltic Pipe will come from our own production. This is part of our strategy to diversify supplies and strengthen Poland's energy security.

09 Jun 2020

Greece, Italy to Sign Accord on Maritime Zones

© muratart / Adobe Stock

Greece and Italy will sign an agreement on maritime boundaries during a visit by Italy's foreign minister to Athens on Tuesday, the Greek Foreign Affairs Ministry said.The deal follows months of tensions in the Eastern Mediterranean region over natural resources. Turkey, Greece and Cyprus have been caught in a complex diplomatic standoff over the issue.Details of the deal were not immediately available.Italian Foreign Minister Luigi Di Maio and his Greek counterpart Nikos Dendias are expected to make a joint statements following their meeting.At a meeting in Rome in February…

13 Aug 2020

France to Increase Mediterranean Military Presence over Turkish Oil & Gas Exploration

France will increase its military presence in the eastern Mediterranean, President Emmanuel Macron said on Wednesday, calling on Turkey to halt oil and gas exploration in disputed waters that has heightened tensions with Greece.The French leader voiced concern over "unilateral" exploration by Turkey in a call with Greek Prime Minister Kyriakos Mitsotakis, Macron's office said in a statement. It added that prospecting should "cease in order to allow a peaceful dialogue" between the neighboring NATO members.The standoff deepened this week with the arrival of Turkish seismic research vessel Oruc Reis in a disputed area of the Mediterranean…

17 Jul 2020

U.S. Aircraft Carriers Return to South China Sea Amid Tensions

USS Ronald Reagan - (U.S. Navy photo by Mass Communication Specialist 3rd Class Jason Tarleton/Released)

For the second time in two weeks, the United States has deployed two aircraft carriers to the South China Sea, the U.S. Navy said on Friday, as China and the United States accuse each other of stoking tensions in the region.The USS Nimitz and USS Ronald Reagan carried out operations and military exercises in the contested waterway between July 4 and July 6, and returned to the region on Friday, according to a U.S. Navy statement."Nimitz and Reagan Carrier Strike Groups are operating in the South China Sea…

26 Aug 2020

US Sanctions 24 Companies Over South China Sea Dispute

© Danil Rogulin / Adobe Stock

The United States on Wednesday blacklisted 24 Chinese companies and targeted individuals it said were part of construction and military actions in the South China Sea, its first such sanctions move against Beijing over the disputed strategic waterway.The U.S. Commerce Department said the two dozen companies played a “role in helping the Chinese military construct and militarize the internationally condemned artificial islands in the South China Sea.”Separately, the State Department said it would impose visa restrictions on Chinese individuals “responsible for…