Ocean Energy Resources

GLOBAL NEWS SERVICE FOR THE FOSSIL AND RENEWABLE ENERGY COMMUNITIES

Aker BP gets board approval for $19bn investment

Fossil Energy – NOAKA

Aker BP announced that its board has approved the decision to submit plans for development and operation (PDO) for the NOAKA field development project, the Skarv satellite project, the Valhall PWP-Fenris project, and the Utsira High projects, offshore Norway.

[Read more…] about Aker BP gets board approval for $19bn investment

Europe imports record amount of liquefied natural gas from Russia

General – LNG Import

European countries’ imports of Russian LNG increased more than 40 percent between January and October this year (17.8 billion cubic meters) compared to the same period in 2021.

Russian LNG is not subject to sanctions by the EU.

In fact, Russian gas is considered essential to the energy security of some European countries. Yet there is nothing to stop Putin from cutting back on these gas supplies as well in retaliation for anti-Russian measures by the West. This could still force the EU to purchase the gas on the more expensive spot market.

France, Belgium, Spain, and the Netherlands accounted for almost all volumes.

Most Russian LNG is supplied by the Yamal LNG joint venture, which has Russian gas producer Novatek as its main shareholder. French energy giant Total is also in Yamal LNG, by the way.

This proves how difficult it is for Europe to break away from the Kremlin’s energy apparatus. Despite other boycotts of Russian energy products.

Source: Financial Times and Business AM

China’s spending on Russian energy nears $60 billion since war

General – China

China continued to boost Russian energy imports last month, as purchases of natural gas, coal, crude oil and oil products increased to nearly $60 billion since the invasion of Ukraine, from about $35 billion a year ago.

[Read more…] about China’s spending on Russian energy nears $60 billion since war