Energiser Investments Share Discussion Threads

[waldron] 05/10/2021 16:36

Nord Stream 2 AG Appeals Against Court Decision Not to Exempt Pipeline From EU Gas Directive

5 hours ago (Updated: 5 hours ago)

05.10.2021

MOSCOW (Sputnik) - The Nord Stream 2 AG has appealed against the Dusseldorf court decision not to exempt the Nord Stream 2 pipeline from the European Union’s gas directive, the operator said on Tuesday.

"We confirm that Nord Stream 2, in compliance with the deadlines, filed an appeal against the decision of the Supreme Regional Court of Dusseldorf of 25 August 2021 to the Federal Supreme Court of Germany," the pipeline’s operator company said.

Nord Stream 2 is a joint venture of Gazprom, Royal Dutch Shell, OMV, Engie, Uniper, and Wintershall. The project is designed to carry natural gas from Russia to Germany beneath the Baltic Sea. On 10 September, Russia's Gazprom announced that the construction of the pipeline was completed.

The pipeline is expected to supply up to 1.9 trillion cubic feet of gas per year from Russia to Germany.

The United States has opposed the project, promoting its liquefied natural gas in Europe. In July, Berlin and Washington struck a deal to pave the way for the completion of the pipeline, without the threat of US sanctions.

[sarkasm] 04/10/2021 17:44

Engie, partners cut ribbon on 20.3-MWp PV park in Ile-de-France


October 4 (Renewables Now) - French energy group Engie SA (EPA:ENGI) and its partners on Monday inaugurated a 20.3-MWp photovoltaic (PV) solar farm, described as the largest in the Paris-centred Ile-de-France region.

Engie built the facility together with the Intercommunal Syndicate for Gas and Electricity in Ile-de-France (SIGEIF) and the town of Marcoussis, located in the southern suburbs of Paris.

Featuring more than 58,000 panels, the solar farm is situated on a site covered with backfill from the construction of the LGV Atlantique high-speed rail line. It is expected to generate 21,000 MWh a year, equivalent to the annual power demand of a town of 10,000 people, according to the announcement.

The project, a winner in a call for tenders by the Ministry for the Ecological Transition, represented an investment of EUR 18.8 million (USD 21.8m) co-financed through a special purpose vehicle with participation of SIGEIF (20%), Engie (60%) and citizen crowdfunding (20%).

“ENGIE, the leading developer of renewable energy in France with 75% renewables in its energy mix, is the leader in solar power in France, with the 1.3 GW that we are building and operating today,” said Engie chief executive Catherine MacGregor.

Engie has 7.9 GW of renewables capacity in France, including 1.3 GW solar, 2.7 GW wind and 3.9 GW hydropower.

The inauguration was attended by the Minister for the Ecological Transition, Barbara Pompili.

(EUR 1 = USD 1.160)

[sarkasm] 04/10/2021 17:40

First string of Nord Stream 2 is being filled with gas

Source : 112 Ukraine

The string will be gradually filled with gas to reach the volume and pressure necessary for further technical testing

19:04, 4 October 2021

Nord Stream 2

The procedure has started with the gas pack of the first string of the Nord Stream 2 gas pipeline on October 4 as Nord-stream2 reported.

The string will be packed with gas gradually to reach the volume and pressure necessary for further technical testing.


Besides, the pre-commissioning activities were held to assure the pipeline integrity, including the inspection inside the pipe with the use of the special diagnostic tools, as well as external visual and tools’ check.

As it was reported earlier, the construction of the Russian Nord Stream 2 gas pipeline was completely finished as of the morning of September 10.


Meanwhile, at the opening of the gas market on October 1, the gas price in Europe reached 100 euros per megawatt/h, or 1,197 U.S. dollars per 1,000 cubic meters.

A group of over 40 MEPs is demanding that the European Commission urgently investigate Gazprom's manipulation and blackmail.

[sarkasm] 04/10/2021 17:39

First string of Nord Stream 2 is being filled with gas

Source : 112 Ukraine

The string will be gradually filled with gas to reach the volume and pressure necessary for further technical testing

19:04, 4 October 2021

Nord Stream 2

The procedure has started with the gas pack of the first string of the Nord Stream 2 gas pipeline on October 4 as Nord-stream2 reported.

The string will be packed with gas gradually to reach the volume and pressure necessary for further technical testing.


Besides, the pre-commissioning activities were held to assure the pipeline integrity, including the inspection inside the pipe with the use of the special diagnostic tools, as well as external visual and tools’ check.

As it was reported earlier, the construction of the Russian Nord Stream 2 gas pipeline was completely finished as of the morning of September 10.


Meanwhile, at the opening of the gas market on October 1, the gas price in Europe reached 100 euros per megawatt/h, or 1,197 U.S. dollars per 1,000 cubic meters.

A group of over 40 MEPs is demanding that the European Commission urgently investigate Gazprom's manipulation and blackmail.

[waldron] 03/10/2021 12:34

gxgxx
3 Oct '21 - 10:29 - 3289 of 3289
0 0 0
The global energy crisis is intensifying, hammering the shares of companies that consume a lot of power and sending the stocks of those that produce it soaring.

Economic recovery from the pandemic has boosted demand for gas and coal but their supplies have not been able to keep up. With the northern hemisphere winter on the horizon and China -- the world’s biggest electricity user -- ordering state-owned energy firms to secure supplies at all costs, investors are in a race to pick the winners and losers.

A key measure of international energy producers, led by names including Cabot Oil & Gas Corp. and ConocoPhillips, has rallied almost 10% over the past month. Utilities stocks have gone into reverse, wiping out this year’s gains, with materials companies joining them among the biggest laggards on the MSCI World Index.

“The energy crisis can exist for the next several years. I think a super cycle in energy has started and will continue for several years," said Sumeet Rohra, a fund manager at Smartsun Capital Pte. in Singapore. “Energy stocks are very well poised to generate big returns."

China’s factory sector contracted in September for the first time since the pandemic began, thanks to power cuts that have affected regions making up more than two-thirds of the nation’s gross domestic product. The energy crunch has also reportedly halted production at suppliers of global tech giants such as Apple Inc. and Tesla Inc.

Meanwhile, European inventories of natural gas are running low as economies come out of the pandemic lockdown and the White House has expressed concern about the jump in oil prices.

Here is a guide to how the crisis is playing out in equities market:

Energy Producers

Companies that produce gas, oil and coal are set to continue benefiting as winter approaches and demand rises.

Royal Dutch Shell Plc, TotalEnergies SE, Eni SpA, and BP Plc are among big European names that may rally further. In Asia, traders have their eyes on companies including Woodside Petroleum Ltd., Petronas Gas Bhd., Inpex Corp., Oil and Natural Gas Corp. and Reliance Industries Ltd.

“It is not just about a short term supply-demand imbalance," said Gary Dugan, chief executive officer of the Global CIO Office. “The energy crunch is very concerning as it leads to the worst case scenario for markets -- that of stagflation," he said, referring to a situation in which economic growth stalls while inflation and unemployment rise.

If the current tightness in the gas market endures into next year, then Total could see 2022 earnings boosted by 18% and Eni by 12%, Goldman Sachs Group Inc. analysts including Lilia Peytavin wrote in a note last week.

Bloomberg Intelligence analyst Talon Custer said U.S. exporters of liquefied natural gas, such as Cheniere Energy Inc. and Sempra Energy, appear well positioned in an LNG market that should stay extremely tight through the winter.

Exxon Mobil Corp. said on Sept. 30 that elevated gas prices will boost its third quarter profit by about $700 million.

A three-year-high in oil prices also helps Exxon, and should keep others such as Schlumberger Ltd., ConocoPhillips and Halliburton Co. on the radar of traders.

In contrast, gas distributors such as China Gas Holdings Ltd., Hong Kong and China Gas Co., Kunlun Energy Co, and Indraprastha Gas Ltd. may face margin pressure if they are not allowed to pass on rising input costs.

Amid surging prices of coal, key stocks to watch are Arch Resources Inc. and Peabody Energy Corp. in the U.S., Glencore Plc. in Europe, and China Shenhua Energy Co., China Coal Energy Co., Adaro Energy Tbk, Whitehaven Coal Ltd. as well as Coal India Ltd. in Asia.

Materials & Metals

While rising power prices hurt all users, it is particularly acute for energy-intensive materials and metal companies.

In Asia, these stocks include Aluminum Corporation of China Ltd., Baoshan Iron & Steel Co., Angang Steel Co., China National Chemical Engineering Co. and Zhejiang Longsheng Group Co.

European construction material maker Sika AG also fits the mold, as does steelmaker ArcelorMittal and cement producer Holcim Ltd. In the U.S., steel producer Nucor Corp. and paint maker Sherwin-Williams Co. may be focus.

Bank of America Corp. analysts see input-cost headwinds for Indian cement makers such as UltraTech Cement, Shree Cement Ltd. and companies in the paint sector.

Power Utilities

Many government-backed electricity providers are likely to face margin pressure while those that are less regulated or independent have a better chance profiting from higher electricity prices.

Barclays Plc.’s analysts including Peter Crampton expect further strength in power prices to create winners in less heavily regulated northern Europe. They identified Electricite de France, Engie SA, Fortum Oyj and RWE AG. The analysts expect significant earnings-per-share upgrades, particularly for EDF, and raised their 2021 and 2022 estimates by 82% and 61%, respectively.

The most visible signs of stock market distress so far have been in southern Europe’s heavily regulated utilities. Iberdrola SA and Endesa SA shares are both trading at their lowest levels in more than last year.

In Asia, potential losers include Korea Electric Power Co., Tokyo Electric Power Co. and India’s NTPC Ltd. In the U.S., companies such as Southern Co., American Electric Power Co. and Duke Energy Corp. could face pressure.

Green Stocks

Higher energy prices and efforts to cut carbon emissions are also flowing through into the share prices of renewable power and nuclear stocks.

Bloomberg Intelligence’s Laurent Douillet sees large nuclear and hydro electricity companies as potential winners over those that rely on gas and coal.

READ: China’s Energy Crunch Sends Coal Shares Up, Renewable Firms Down

Key stocks to monitor are Europe’s Scatec ASA, Azelio AB and Orsted A/S, North America’s First Solar Inc. and SolarEdge Technologies Inc., and Asia’s LONGi Green Energy Co., Trina Solar Co., Sungrow Power Supply Co. and Adani Green Energy Ltd.

“There hasn’t been a confluence of so many factors happening at the same time in energy and commodity markets since at least the 1980s," said Robert Ryan, chief commodity and energy strategist at BCA Research.

[adrian j boris] 02/10/2021 08:37

money week

Gas prices explode – and oil prices will follow

After gas prices hit new highs, Brent crude oil prices have broken through $80 a barrel for the first time in almost three years.

by: Alex Rankine

1 Oct 2021


The delayed approval of Russia’s Nordstream 2 pipeline to Germany could restore balance to the market



Brent crude oil prices have broken through $80 a barrel for the first time in almost three years. Oil’s rally comes as soaring European gas and coal prices presage a winter energy crisis. In September 2020 “in Europe it cost €119… to buy enough gas to heat the average home for a year”, says The Economist. “Today that figure is €738.”

A cold European spring and a hot Asian summer, combined with a post-pandemic industrial rebound, have kept demand high. Imports of US liquefied natural gas (LNG) on ships will help ease the pressure a little, but global gas markets depend mainly on pipelines and are only “imperfectly linked”.
Denting the global recovery

“Gas storage tanks in Europe are only 72% full ahead of the winter season, compared with the usual 87% at this time of the year”, Warren Patterson of ING tells Pierre Briançon in Barron’s. The global recovery, which was already “weakened by the Delta coronavirus variant, will take another hit”.

[waldron] 27/9/2021 10:21

EAD and Engie launch phase II of mangrove rehab project
ABU DHABI, 1 hours, 9 minutes ago
The Environment Agency – Abu Dhabi (EAD), in partnership with the global energy company Engie, has announced the launch of the second phase of the Blue Carbon Environmental and Social Responsibility project.

After a successful pilot launch in 2020, the second phase of the project involves using highly innovative drone planting technology to sow mangrove seeds.

Dr Shaikha Salem Al Dhaheri, Secretary General of EAD, said: “Mangroves play a critical role in our fight against climate change. These carbon-rich forests that dot the coastline of Abu Dhabi are key to stabilising our environment and preserving the natural habitat of several species. The Blue Carbon project is one of its kind in the region and I am delighted that it has advanced to Phase II, following its very successful pilot launch in 2020. Rebuilding and restoring an ecosystem that resiliently protects our coast will support the sustenance of mankind while consequently combatting climate change.”

Hosted at the EAD Headquarters in Abu Dhabi, the event was attended by the Blue Carbon project team from EAD, Engie, and its partner, Distant Imagery, who are specialists in engineering drone solutions that are based on blue carbon restoration expertise. They have also designed and engineered drone rigging in the UAE.

All attendees collaborated and participated in making seedballs, which help protect the seeds when they are launched from the drone, as well as provide nutrients to ensure proper germination of the seeds when planted in the soil.

The project was initiated last year, in a very successful test pilot where approximately 2000 seeds were planted. Almost one year after the first planting, the success rate is estimated to be 25%, despite the volatile weather conditions of last year. Implementing the learnings from last year, supported by an advanced drop mechanism and methodology, this year, the project team expects a success rate of at least 35%. These are excellent results if compared to the typical mangrove survival rate in nature of 5%.

As part of the second phase of the project, plant seeding will take place earlier in the season, from early September, to ensure they are given an increased chance to stabilise and grow. There will also be a change in seeding time, to ensure seeds are captured with the highest chance of survival.

Ahmed Al Hashmi, Acting Executive Director for Terrestrial and Marine Biodiversity at Environment Agency Abu Dhabi, said: “Restoring biodiversity and preserving vulnerable ecosystems is not a choice anymore but a necessity for the survival of humankind, in the wake of climate change. With this in mind, we are glad to be working with Engie on this project. To us, this project is a direct extension to The UAE’s National Blue Carbon Project and The Abu Dhabi Blue Carbon Demonstration Project that was launched in 2012, that focused on mapping the UAE’s carbon sinks extensions and capacities."

Commenting on the project, Florence Fontani, Chief Communications and Sustainability Officer, Engie Africa, Middle East, and Asia (AMEA), said: “Our partnership with EAD and Distant Imagery for this project sets an example to better engage to achieve carbon neutrality and address challenges in preserving coastal and marine ecosystems for human life. At Engie, we are honoured to be part of this project and support the country’s goals towards conserving the rich environmental ecosystem for the generations to come.” -- TradeArabia News Service

[florenceorbis] 25/9/2021 05:15

An Unstoppable Natural Gas Rally

By Editorial Dept - Sep 24, 2021, 1:30 PM CDT


1. Oil Supply Disruptions Set To Ease

- With September seeing crude supply disruptions across continents, the upcoming months should bring most of that idled capacity back, also boosted by the end of field maintenance in Kazakhstan and Canada.

- Russia’s condensate supply was derailed by an August explosion at Gazprom’s condensate treatment plant, whilst Nigerian exports were hindered by oil spills and pipeline attacks.

- Shell, the main producer in the US Gulf of Mexico, indicated that repairing the West Delta-143 platform will take at least several months, shaving off some 250,000 b/d of production over Q4 2021.

- More than 16% of US Gulf of Mexico production is still shut-in, equivalent to almost 300,000 b/d as the pace of restoring output has weakened substantially this week.


2. Gas Prices Continue Their Insane Run

- Europe’s benchmark TTF pricing has netted another all-time high this week, with front-month ICE prices reaching €75 per MWh ($25 per mmBtu) this Monday, before dipping closer to the €70 per MWh threshold.

- In the meantime, spot LNG prices in Asia continued their upward movement, too, surging past $25 per mmBtu this week in unison with Europe.

- Russia’s pipeline gas monopoly Gazprom has still failed to book additional October capacity as it continues to replenish domestic inventories, while landed LNG prices in Europe are more than fourfold their seasonal average.

oilprice.co

[florenceorbis] 25/9/2021 05:00

EU Ministers Unveil Plan to Weaken Russian Grip on Gas Supply

5 hours ago

Europe’s energy ministers have joined forces to establish a plan that will reduce their dependence on foreign gas and purchase supplies as a bloc as part of a larger effort to combat Russia’s stake in the highly-coveted resource.

The plan is to purchase strategic gas reserves as a bloc with the goal of allegedly “countering221; Russian efforts to cut supply and hike prices.

The Times reported that prior to the European Union energy meeting on Wednesday, discussions were largely overshadowed by global gas shortages and forthcoming price spikes that many believe will prompt an energy crisis across Europe over the cold winter months.

“We’ve seen huge price increases,” said Dimitri Vergne, head of the energy team at the European Consumer Organization. “It’s worrying ahead of the winter, when gas consumption will necessarily increase.”

Gas accounts for over a fifth of the European Union’s energy mix, although it varies across the bloc — Russia provides 41% of the bloc’s gas.



Globally, the demand for gas has risen tremendously, and since the start of the year, wholesale gas prices in Europe have risen by 250%.

Some of the European nations at stake include Germany, France and Spain.

Alexey Miller, the head of Russia’s Gazprom, has warned that gas prices across Europe are more than likely to “reach new record highs” in the coming months.

The decrease in the volume of natural gas exports from Russia to northern Europe is a result of last year’s harsh and prolonged winter that caused a storage capacity — the maximum volume of natural gas that can be stored at a storage facility.

Individual EU countries are already intervening to ease the energy crisis, with Spain taking the lead after announcing emergency measures to cap energy prices and profits.

France has promised one-time payments of €100 (£86) for households struggling to pay their energy bills.

More recently, Annalena Baerbock, a German election candidate and leader of the Greens party, joined in on the chorus of individuals who have laid blame on Russia for gas issues.

Baerbock said that the German government should send a message to Moscow quoting, "Russia must stick to its promises and supply enough gas through the existing pipelines like it used to.”

Meanwhile, the energy ministry's spokeswoman, Suzanne Ungrad, said on Wednesday that Russia was fulfilling existing supply deals and did not disregard any long-term contracts.

sputnik international

[waldron] 23/9/2021 08:46

Engie’s environmental preservation efforts recognised

DUBAI, 0 hours, 33 minutes ago

Engie, a global reference group in low-carbon energy and energy efficient solutions, has been honoured with a Gold award in the ‘Environmental Sustainability Programme – Large enterprise” category.

The firm also won a Silver and Bronze award for ‘Innovation in Sustainable Technologies – Large enterprise’ category at the Gulf Sustainability Award 2021.

Held on September 20, 2021, at Jumeriah Creek Side Hotel in Dubai, Engie’s “Blue Carbon” project in partnership with the Environmental Agency of Abu Dhabi (EAD) and Distant Imagery, was commended for its pioneering feat to restore the mangrove habitat in Abu Dhabi.

In addition, Engie Solutions’ Integrated Centre for Engineering & Environment (iCEE) platform also took center stage for its capability to support clients in assessing operational and energy savings of their facilities and assets.

Carbon dioxide is sequestered three to four times faster by mangrove forests than other ecosystems on the planet. The coastline of Abu Dhabi is covered by mangroves, which play a vital role in storing blue carbon and offsetting carbon emissions.


The Blue Carbon project was launched in 2020 by Engie and EAD with an aim to ensure the rehabilitation of the region’s natural biodiversity through impactful climate actions. Engie’s efforts are supported by its partner, Distant Imagery, specialists in engineering drone solutions based on blue carbon restoration expertise, who use their custom-built drones and innovative technology to ensure the effectiveness and efficiency of planting mangrove seeds.

Similarly, with the aim to drive sustainable technology solutions across the business, and support clients in their transition towards becoming carbon neutral, Engie Solutions set up an Operational Control Centre called The Integrated Centre for Engineering & Environment (iCEE). From there Engie operates smart IoT platforms that include artificial intelligence and machine learning to automatically identify energy and operational savings and detect issues before they happen.

Florence Fontani, EVP Communications & Sustainability, Engie Africa Middle East & Asia, said: “Engie is committed to a carbon-neutral transition, and through natural based solutions we are actively contributing to the sustainable development goals. Blue carbon ecosystems also support local industries like fishing, tourism, and agriculture to flourish, that has the potential to contribute towards the UAE’s carbon-neutrality and sustainability agenda. Projects such as the Blue Carbon project are fully aligned with Engie’s decarbonisation pathway as it uses scientific expertise to provide innovative solutions to offset CO2 emissions.”

The Gulf Sustainability Award 2021 celebrates conscientious business practice within the region that are leading the way for Environmental, Social and Corporate Governance. It aims to inspire businesses to take the road towards sustainability and promote changes in that regard.-- TradeArabia News Service

[waldron] 20/9/2021 18:22

Nord Stream 2 Could Still End Up In "Investment Ruin"

By Irina Slav - Sep 20, 2021, 11:00 AM CDT


Nord Stream 2, the controversial pipeline, may yet flop, according to the co-leader of the European Greens, Reinhard Butikofer.

In an interview with German dpa, the co-chair of the Green Party in the European Parliament said there are still obstacles that Nord Stream 2 needs to clear before it is put into operation, and even after it clears them, the European Commission could still stop the project and turn it into an "investment ruin."

Nord Stream 2 is set to expand the capacity of an existing pipeline under the Baltic Sea to Germany twofold, to 110 billion cubic meters annually. It has exacerbated bilateral problems between Russia and the EU because its route bypasses Ukraine, which relies on Russian gas transit fees for much of its budget revenues.

At the same time, there is a concern that more Russian gas coming into Europe will make it more vulnerable to Russian political pressure.

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Be that as it may, much of Europe is currently finding itself in dire need of natural gas amid lower than normal inventories and strongly rising demand that has led to a surge in gas prices.

"The shout of triumph with which the Russian side is celebrating the completion of the Nord Stream 2 pipeline is premature," Butikofer told dpa. He then went on to list three challenges still remaining for Gazprom.

First, it needs to unbundle its gas production operations from its gas infrastructure operations. The unbundling rule aims to prevent gas monopolies. Second, Gazprom must give third parties the right to feed gas into the pipeline, which it has not yet done. Third and last, the Nord Stream 2 pipeline needs to receive the go-ahead from the German authorities, which is also pending.

Yet even if the German authorities grant Gazprom and its Nord Stream partners a permit for the pipeline, the European Commission can cancel it if it finds the project violates European energy law, the EP official explained.

By Irina Slav for Oilprice.com

[grupo] 16/9/2021 07:53

The stock is holding up well (almost stable) while the CAC40 is losing nearly 1%. Barclays reaffirms its 'overweight' recommendation while raising its target price for Veolia from €33 to €35. The stock is one of a list of European utilities stocks that 'look well positioned in the near term'.

Based on our analysis, EDF, Engie, Fortum, RWE and Veolia each benefit from an attractive combination of major strengths...' explains the broker, in a note where it 'seeks to identify the next major short-term catalysts' for the sector.

Translated with www.DeepL.com/Translator (free version)

[waldron] 15/9/2021 22:12

Nord Stream 2 Comes Just As European Gas Prices Reach 13-Year High

By Tsvetana Paraskova - Sep 15, 2021, 2:00 PM CDT


The sooner Nord Stream 2 is commissioned and launched, the better chance the Russia-led gas pipeline to Germany will have to balance surging gas prices in Europe, including on the spot market, Kremlin spokesman

Dmitry Peskov said on Wednesday.

“Obviously, the commissioning of Nord Stream 2 as soon as possible will substantially balance natural gas price parameters in Europe, including on the spot market,” Peskov told reporters in Moscow today, as carried by Russian news agency TASS.

Europe’s current natural gas demand is huge, and if the winter is colder than usual, even more gas will be needed, Peskov added.


Last Friday, Gazprom said it had completed the construction of the Nord Stream 2 pipeline, although gas flows on the controversial Russia-led pipeline cannot begin until Germany grants an operating license to the project.

Germany’s federal networks regulator BNA said earlier this week that it would decide no later than January 8, 2022, whether it will certify Nord Stream 2 and issue an operating license for the natural gas pipeline.

Europe is grappling with soaring natural gas and electricity prices ahead of the winter heating season due to tight gas supplies, very low gas inventories across the continent, and low wind power generation amid still weather.

During the summer, even with the strong rebound in European natural gas demand and surging prices, Gazprom did not book additional entry capacity to Europe via Ukraine.

Analysts say that this could have been an opportunistic move from the Russian giant to drive up Europe’s gas prices further and take advantage of what are now the highest prices in 13 years. Other analysts think that Gazprom’s effective reduction in supplies would force Europe to recognize that gas customers on the continent need the controversial Nord Stream 2 pipeline to Germany bypassing Ukraine.

By Tsvetana Paraskova for Oilprice.com

[grupo] 14/9/2021 11:38

Air Liquide SA said Tuesday that it is partnering with TotalEnergies SE to optimize performance at the French oil-and-gas major's hydrogen platform in Normandy, France and develop a low-carbon hydrogen network.

The French industrial-gas company said that it will take over and operate TotalEnergies' hydrogen production unit of 255 tons a day under a long-term contract agreement, ultimately connecting it to its network.

Financial details weren't disclosed.

The companies also plan to jointly develop a carbon capture and storage project that will decarbonize the hydrogen produced at the site.

Transferring the hydrogen production unit to Air Liquide is subject to the approval of competent authorities as well as the process of consulting employee representatives at the TotalEnergies Normandy platform.



Write to Giulia Petroni at [e-mail]



(END) Dow Jones Newswires

September 14, 2021 05:04 ET (09:04 GMT)

[waldron] 09/9/2021 13:16

Nord Stream 2

Gazprom plans to launch Nord Stream 2 on Oct. 1, Bloomberg says


Published Sept. 9 at 1:40 pm
.

Government moves closer to selling Bolshevik machine factory in Kyiv
High-profile cases that stalled under Venediktova

The first deliveries of gas through Nord Stream 2 may take place on Oct. 1, U.S. media Bloomberg reported, citing anonymous sources within Russian state-owned gas company Gazprom.

Gazprom didn’t answer the Kyiv Post’s request for comment.

Gazprom announced on Sept. 7 that it had welded the final piece of pipeline, which would shortly be laid onto the seabed. The pipe can start operating after the Danish and German sections are connected.

Nord Stream 2 will allow Russia to bypass Ukraine while transporting gas to Europe through Germany, depriving Ukraine of at least $1.5 billion in transit fees per year.

The controversial project is awaiting technical certification and insurance from the German gas regulator, which is still considering Nord Stream 2’s application as an independent transmission system operator.

The amount of gas that will flow through the pipeline is still being negotiated. Russia may only be allowed to use half of the capacity of its Nord Stream 2 undersea pipeline to Germany, a German regional court ruled on Aug. 25.

Under European regulations, half of the pipeline’s capacity must be auctioned to third parties to be allowed to operate in Europe, the court ruled, according to Bloomberg.

There are no third-party gas exporters in Russia, where Gazprom is a monopoly. This ruling would only allow Gazprom to send 27.5 billion cubic meters through the pipeline per year. The maximum annual capacity is 55 billion cubic meters.

Bloomberg’s source also revealed that by the start of December, Gazprom hopes to send gas through both lines of the pipeline, transporting a total of 5.6 billion cubic meters of natural gas by the end of the year.

Gazprom hopes to begin deliveries before the start of the winter due to a gas shortage in Europe.

In May 2021, head of Gazprom’s exporting division Elena Burminstrova suggested that Gazprom could “cover additional demand with the commissioning of Nord Stream 2.”

The comment that led Ukrainian energy think-tank Dixi Group to accuse Gazprom of manipulating the gas market to create an artificial deficit to make it look like Nord Stream 2 is necessary.

[misca2] 07/9/2021 11:55

Spanners in the gasworks


[...]


biznesalert.com/the-end-of-nord-stream-2-construction-is-just-the-beginning/

[la forge] 07/9/2021 10:38

Europe’s High Energy Prices Are Just The Beginning
By Julianne Geiger - Sep 06, 2021, 3:30 PM CDT

European energy prices might be at record levels, but there is still room for prices to run, according to a Bloomberg analysis.

Of course, natural gas prices are soaring everywhere—not just in Europe. The U.S. benchmark price for natural gas has nearly doubled over the last year, with front-month Henry Hub prices reaching $4.690/MMBtu as of September 6. And that’s despite record natural gas production in hot basins like Appalachia.

But U.S. gas exports are soaring more, hitting all-time records.

For Europe, which is coming off pandemic restrictions, the increased demand for natural gas and electricity as people return for work is triggering higher prices, and therefore inflation. Germany is battling the highest inflation since 2008, thanks to higher energy prices.

Typically, demand for natural gas this time of year is still low.

Today’s high prices, at a time when demand is typically low, are worrisome for Europe, which is now looking at a difficult winter, with natural gas inventories at painfully low levels.

The situation isn’t helped any by wind power, either, because low wind speeds and high temps are tamping down renewable power production, and in the process, paving the way for higher coal consumption.

And if Europe is still hoping that its own fossil fuels would prevent a winter price crunch for power, it would be wrong. According to Bloomberg, several production outages and declining gas fields have helped to send natural gas prices trading at a premium to crude oil.

Some estimates see retail consumers paying 20% more for utility bills.

Julien Hoarau, head of Engie SA’s analytics unit EnergyScan, said that Europe’s problems haven’t even started yet.

By Julianne Geiger for Oilprice.com