Gas Giant News

Petronas CCS Ventures, a subsidiary of the Malaysian oil and gas giant Petronas has signed a term sheet with Mitsui O.S.K Lines, Ltd. (MOL) and MISC Berhad for the potential incorporation of a joint venture entity to invest in developing and monetising Liquefied Carbon Dioxide (LCO2) carriers for Carbon Capture and Storage (CCS) projects in Malaysia. The parties have agreed in principle on the key commercial terms to allow progress to the next stage."Building on the February 2022…

In a first, Brazilian oil company Petrobras last week reportedly sold the P-32 FPSO for sustainable recycling in Brazil, paving the way for the development of the local ship recycling industry.The sale of the floating unit P-32 reportedly took place on July 7, 2023. In a collaboration supervised by Petrobras, the steel company Gerdau S.A. and shipyard Ecovix have been entrusted with the responsible and environmentally sound recycling of the FPSO."This decision marks the first time a commercial vessel at the end of its lifecycle will be dismantled in Brazil.

Shell said on Friday it had loaded and shipped a cargo of liquefied natural gas (LNG) this week at its Prelude floating LNG facilityafter workers scaled-down industrial action at the site off northwestern Australia.The oil and gas giant slowed output at the 3.6-million tonne per year facility last week during a series of work stoppages by unions fighting for better pay and had warned that shipments would be disrupted for at least two weeks.

The United States on Wednesday imposed sanctions on the company in charge of building Russia's Nord Stream 2 gas pipeline, expanding penalties on Moscow after it recognized two breakaway regions in eastern Ukraine.The sanctions, which target the Nord Stream 2 AG company and its CEO, Matthias Warnig, add to pressure on the Baltic Sea project that was designed to double the gas flow capacity from Russia to Germany.Europe's most divisive energy project, Nord Stream 2 has not begun operations pending certification by Germany and the European Union.Germany on Tuesday halted the pipeline…

Austria is sticking with its opposition to including the Nord Stream 2 gas pipeline in a package of sanctions against Moscow that the European Union is preparing in the event Russia invades Ukraine, Foreign Minister Alexander Schallenberg said on Friday.Austrian oil company OMV is one of Russian gas giant Gazprom's partners in the pipeline project connecting Russia to Germany, which has been completed but is not yet operational as it is awaiting German and EU regulatory approval. Austria owns 31.5% of OMV and backs the project.U.S.

Europe, struggling with soaring gas prices, is missing out on additional Russian supplies amid delays to the Nord Stream 2 pipeline, a top Russian official signaled on Friday.Deputy Prime Minister Alexander Novak said European companies that invested in the project, which is awaiting German and EU regulatory approval, would be able to ask for additional gas on top of their long-term contracts via the route."To my mind, European consumers are very interested in the project to start working, while the companies, which participate in it, they could have submitted additional requests as part of lo

U.S. officials have told members of Congress they have an understanding with Germany about shutting down the Nord Stream 2 natural gas pipeline if Russia invades Ukraine, a senior congressional aide told Reuters on Tuesday.The White House said Germany had made commitments about the Nord Stream 2 pipeline that runs from Russia to Germany under the Baltic Sea in the event of aggressive acts by Russia.U.S. President Joe Biden told Russian President Vladimir Putin on Tuesday the West…

Malaysian oil and gas giant Petronas has awarded two Front End Engineering Design (FEED) contracts to a JGC Corporation-Samsung Heavy Industries consortium and to Saipem as part of an international dual FEED design competition for a nearshore liquefied natural gas (LNG) project in Sabah. The project, with a minimum capacity of 2.0 million tonnes per annum (MTPA) is a first of its kind in Malaysia, Petronas said.The FEED design competition is expected to take place over the course of 10 months with the Final Investment Decision (FID) planned for end of 2022.Subject to FID…

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

The suspension of the approval process for the Russian Nord Stream 2 pipeline by a German regulator could be short-lived as Europe is hungry for more gas, an analyst said on Monday after meeting officials of Russian state gas giant Gazprom.Last week, Germany's energy regulator temporarily halted the certification process for the new pipeline that will carry Russian gas into Europe, throwing up a new roadblock to the contentious project and driving up regional gas prices.German…

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…

Norwegian oil and gas giant Equinor last year said that the delivery of an FPSO, being built for the Johan Castberg field development in the Barents Sea, would be delayed after the company discovered issues with the weld quality of the hull of the FPSO under construction in Singapore.In an update on Monday, Equinor said that, following the initial findings, an in-house investigation team from Equinor had studied the deviation in quality of welding and inspection of the Johan Castberg FPSO…

Malaysian oil and gas giant Petronas said Monday that its PFLNG Dua floating LNG facility has recently produced its first LNG. This is the company's second FLNG Unit, and its first deepwater FLNG facility.The PFLNG Dua is located at the Rotan gas field, 140km off Kota Kinabalu, Sabah, Malaysia. "In collaboration with its upstream Production Sharing Contract partner, PTT Exploration and  Production, it has successfully completed the subsea commissioning phase and achieved its first has on 6 February 2021…

Finnish technology group Wärtsilä announced Thursday it has secured a deal to supply dual-fuel engines for six new 172,500-cubic-meter capacity liquefied natural gas (LNG) carriers being built by South Korea's Daewoo Shipbuilding and Marine Engineering (DSME) to serve the Arctic LNG 2 project in Russia’s Arctic waters.The icebreaking gas carriers were ordered by Russia's Sovcomflot and Japan's Mitsui O.S.K. Lines in October 2020, and each ship will be fitted with six Wärtsilä 46DF dual-fuel engines, plus gas valve units and auxiliaries.

The Russia-led Nord Stream 2 consortium is expected to start laying gas pipes in Danish waters after construction was suspended for a year owing to the threat of sanctions from the United States, according to a Danish maritime regulator.Nord Stream 2, designed to double capacity of the existing undersea Nord Stream gas pipeline from Russia to Germany, has become a bone of contention between Moscow and Washington, with the United States seeking to cut Europe's reliance on Russian energy.The United States also plans to increase sales of its own sea-borne liquefied natural gas (LNG) to Europe.The Danish Maritime Authority has issued notification of pipe-laying works for the Nord Stream 2 gas pipeline on the Baltic Sea bed from Jan.

Russia has resumed construction of the politically-charged Nord Stream 2 gas pipeline to Germany, laying pipes after a one-year hiatus prompted by U.S. sanctions, the pipeline operator said on Friday.The pipeline, which Washington says compromises European energy security, has become a flashpoint in relations between Russia and the West that have sunk to post-Cold War lows. The Kremlin has called the sanctions "unfair competition".Swiss-Dutch company Allseas suspended the laying of pipes in December 2019 following the threat of sanctions from Washington, leaving Russia to utilize its own resources to construct the 1,230 kilometers (km) pipeline…

The Russia-led Nord Stream 2 consortium said on Thursday that work to lay its subsea gas pipeline to Germany would resume in Danish waters on Jan. 15, the TASS news agency reported, despite pressure from the United States for construction to stop.Russia said on Wednesday it was confident of completing the project, although two sources said the U.S. State Department had this month told European companies suspected of helping to build the pipeline that they faced possible sanctions.Nord Stream 2 has not responded to a [Reuters] request for comment.A Danish maritime regulator said last month construction work would resume in Danish waters in mid-January…

The Russia-led Nord Stream 2 consortium said on Monday it has completed laying pipes for the project in German waters, finishing work on a 2.6 kilometer-long portion of the pipeline, which had been stalled by the threat of U.S. sanctions."We have completed this work," the consortium said in an emailed statement, referring to the pipe-laying in the German economic zone.Earlier on Monday, Refinitiv Eikon data showed the Russian pipe-laying vessel Fortuna has left the Nord Stream 2 gas pipeline construction site in Germany's section of the Baltic Sea.The Fortuna earlier this month resumed work on the pipeline, which will pump gas directly from Russia to western Europe, bypassing Ukraine.

The United States has informed Germany that it plans to impose sanctions on a Russian pipe-laying ship involved in construction of the Russian-led Nord Stream 2 gas pipeline from Russia to Germany, the German Economy Ministry said on Monday."We're taking note of the announcement with regret," an Economy Ministry spokesman in Berlin said.German business daily Handelsblatt had earlier reported the U.S. sanctions would go into effect on Tuesday as part of the Countering America's Adversaries Through Sanctions Act (CAATSA).It said the sanctions would be imposed on the Russian pipe-laying ship "Fortuna" and its owner, KVT-RUS.Nord Stream 2, designed to double the capacity of the existing Nord Stream undersea gas pipeline, would bypass Ukraine, depriving it of lucrative transit fees.

Russia's Nord Stream 2 said on Saturday it planned to resume pipe-laying work on a 2.6 kilometer (1.62 mile) stretch of the stalled Moscow-backed gas pipeline to Europe in Germany's Exclusive Economic Zone.The 1,230 km pipeline under the Baltic Sea, which Moscow hopes will boost the amount of gas it can pump to Europe bypassing Ukraine, is nearly finished but a final stretch of about 120 km still needs to be laid.Work was halted last December when pipe-laying company Swiss-Dutch Allseas suspended operations after U.S.

The United States on Tuesday imposed sanctions on a ship involved in building the Nord Stream 2 pipeline to take Russian natural gas to Europe, as the Trump administration sought to raise pressure on the project on its last full day in office.The U.S. Treasury Department said it imposed the sanctions on the Russian pipe-laying ship "Fortuna" and its owner, KVT-RUS, under the Countering America's Adversaries Through Sanctions Act (CAATSA).Nord Stream 2, designed to double the capacity of the existing Nord Stream undersea gas pipeline, would take gas to Europe via Germany, bypassing Ukraine, which would deprive Kiev of lucrative transit fees.The project is a rising point of contention between Moscow and Washington.

The Russian pipe-laying vessel Fortuna has left the Nord Stream 2 gas pipeline construction site in the Baltic Sea, Refinitiv Eikon data showed on Monday, indicating that the 2.6-km stretch of the project in German waters may have been completed.Fortuna was now heading for the north German port of Wismar, the data showed.The Fortuna earlier this month resumed work on the pipeline, which will pump gas directly from Russia to western Europe, bypassing Ukraine. Work had been suspended for a year due to the risks of sanctions from the United States.Nord Stream-2 did not respond to a request for comment on Monday on the latest developments.The pipeline…

A Russian pipe-laying vessel, Fortuna, has arrived at the construction site of the Nord Stream 2 gas pipeline in the Baltic Sea, Refinitiv Eikon data showed on Friday, with work on the project set to resume.There are also several procurement vessels near the site, according to the data.The Akademik Cherskiy, another, more modern pipe-laying vessel which had arrived at the site north of the German and Polish coasts last week, has since moved away and is now drifting near the Russian port of Kaliningrad.Nord Stream 2 has repeatedly declined to comment on which vessel will lay the pipes and when exactly works to construct the pipeline, which will run from Russia to Europe across the Baltic Sea…