Azerbaijan's SOCAR hopes to restart negotiations with Greece over gas grid in December

15/09/2015 00:59 Natural Gas


Azerbaijan's state energy firm SOCAR hopes to restart negotiations over purchasing a stake in Greek gas grid operator DESFA in December, as stated by SOCAR's president on Monday.

The potential agreement, which has been negotiated since 2013, would involve SOCAR acquiring a 66 percent stake in DESFA for approximately 400 million euros ($457 million) from the Greek state and Hellenic Petroleum. The European Commission has expressed competition worries over the transaction and has been revising it. Greece's privatisation agency declared at the end of August it hoped that agreement might be settled by the end of the year, while a Greek privatisation official had mentioned that Athens was observing an option under which SOCAR would purchase the stake and then give minimum 17 percent either to the Greek state or a third entity to address the EU's concerns.

Exxon to make $500 million initial investment in Mozambique LNG project

08/10/2019 15:32:00

Exxon Mobil plans to invest more than $500 million in the initial construction phase of its liquefied natural gas (LNG) project in Mozambique.


Qatar building large CO2 storage plant

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Qatar commissioned a carbon capture-and-storage plant and aims to sequester five million tonnes of carbon dioxide from its liquefied natural gas (LNG) facilities by 2025.


Daily (08.10.2019): Higher wind power output and warmer weather pushed NBP spot 6.3% down on Monday

08/10/2019 11:10:00

Oil prices were little changed on Monday on hopes of progress in U.S.-China trade negotiations which should take place on Oct. 10-11 in a fresh effort to work out a deal. However, worsening global economic conditions still put pressure on oil demand. Hence, Brent crude ended at $58.35 a barrel, while WTI futures lost 0.1% to end at $52.75 a barrel.