Three partners to invest €1 billion in Dunkirk LNG Terminal

30/06/2011 00:35 Natural Gas


The French energy giant EDF has announced that, alongside two partners-the French major Total and Fluxys of Belgium it has decided to invest in a €1billion ($1.44billion) project to develop a new liquefied natural gas (LNG) terminal in northern France, at Dunkirk.

Under this agreement, the ownership of the joint venture will be shared between the three companies, with EDF holding a 65% majority. Oil giant Total will hold a 10% interest and the remaining 25% will be held by Belgian gas company Fluxys. The trio also signed a commercial agreement allowing Total to reserve up to 2 billion cubic meters a year of storage and regassification capacity from Dunkirk LNG. The project is planned to come on stream until the end of 2015 and will have a yearly production capacity of 13 billion cubic meters, enabling the increase of the import capacity for LNG in France by nearly 20%.

Daily (06.07.2020) NBP spot plunged by almost 5% on Friday influenced by an upward revision of the French nuclear output.

06/07/2020 10:40:00

Crude oil prices lost momentum on Friday, on renewed fears over global fuel demand as U.S reported a surge in coronavirus cases. Nevertheless, signs of improving global economy and OPEC+ record high supply cuts limited the loss. As a result, Brent crude decreased by 0.8% to $42.80 a barrel. Similarly, WTI futures traded 1% lower at $40.24 a barrel.


Swinoujscie terminal receives 100th LNG shipment

06/07/2020 10:05:00

The Swinoujscie gas terminal in north-western Poland received its 100th liquefied natural gas cargo on Friday. The 90,000 tonnes LNG shipment came from Qatar Liquefied Gas Company Limited (Qatargas) aboard the Al-Safliya LNG tanker.


Russia's Novak sees global oil output cuts easing from August

06/07/2020 09:56:00

Russian Energy Minister Alexander Novak said on Thursday that the OPEC+ group of oil producers is expected to start easing oil output cuts from August as previously agreed.