Shah Deniz II initial gas supplies to Europe in the first quarter of 2020

10/11/2014 10:43 Natural Gas


Europe will receive the first gas from Azerbaijan's Shah Deniz II project in the first quarter of 2020, as stated by BP spokesman on Friday.

Azerbaijan's largest gas field Shah Deniz is run by BP with associates TPAO of Turkey, Azerbaijan's SOCAR, Russian oil group Lukoil and Iran's Nico (Naftiran Intertrade Co). Shah Deniz II, considered by the European Union an essential alternative to Russia’s gas supplies, is likely to provide 20 percent of EU requirements in the long term from proven reserves anticipated at 1.2 trillion cubic metres. The first phase, Shah Deniz I, has been draining gas since 2006 and has a production capacity of approximately 10 billion cubic metres of natural gas per year.

Exxon Mobil considers sale of Malaysian offshore assets for up to $3 bln

09/10/2019 14:54:00

U.S. energy giant Exxon Mobil Corp is considering a sale of its Malaysian upstream offshore assets for up to $3 billion, Bloomberg reported on Wednesday.


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.