Italy’s Saipem joins Arctic LNG 2 construction

05/08/2019 08:46 LNG


Italian oil and gas industry contractor Saipem announced Friday it will join the joint venture constructing the Arctic LNG 2 project, Kallanish Energy learns.

The project involves construction of three liquefied natural gas trains, each with a capacity totaling 6.6 million tons per annum (Mtpa), using Siberian gas.


Saipem entered an agreement with contractors Technip France SA and NIPIgaspererabotka, whereby its share in the project will be $2.4 billion, out of the total $7.6 billion contract value.


The project is led by Russian gas producer Novatek, which owns 60% of the project. The remaining interest is held by French supermajor Total, Japanese companies Mitsui and Japan Oil, Gas and Metals National Corp. (Jogmec), state-owned China National Petroleum Corp. (Cnpc) and China National Offshore Oil Corp. (Cnooc), which each bought 10% earlier this year.


Zimbabwe hikes average electricity tariff by 320% - energy regulator

09/10/2019 13:25:00

Zimbabwe has increased the average electricity tariff by 320% to let the state power utility ramp up production and improve supplies at a time of daily rolling power cuts, the national energy regulator said on Wednesday.


Daily (09.10.2019): European carbon prices reached EUR 23 a tonne on Tuesday, on worries over Brexit negotiations

09/10/2019 10:50:00

Crude oil prices traded lower on Tuesday, after Donald Trump reported that a quick trade deal will unlikely happen soon. Meanwhile, oil prices were supported by protests in OPEC members Iraq and Ecuador, which threatened to disrupt their oil output. Hence, WTI futures fell by 0.2% to $52.63 a barrel, while Brent crude edged 0.2% down at $58.24 a barrel.


Ukraine to export natural gas to Moldova without Gazprom's involvement

09/10/2019 09:28:00

The Cabinet of Ministers has instructed NJSC Naftogaz of Ukraine to take measures to ensure natural gas exports to Moldova without the involvement of Russia's Gazprom.