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[the grumpy old men] 30/8/2022 09:29

Dow Jones Newswires

Engie Says Gazprom Will Further Reduce Gas Deliveries
Published: Aug. 30, 2022 at 2:24 a.m. ET
0

By Cristina Roca

French utility Engie SA said Tuesday that Gazprom PJSC has informed it of a reduction in gas deliveries starting the same day.

The reduction is due to a disagreement on the application of some contracts, Engie said.

Engie said deliveries of Russian gas had already fallen significantly since the war in Ukraine began. It cited recent monthly supply of about 1.5 terawatt-hours. Engie's total supplies in Europe amount to more than 400 terawatt-hours a year, it said.

The company also said it has secured the gas it needs to meet its commitments and its own requirements.

Write to Cristina Roca at [e-mail]

[the grumpy old men] 30/8/2022 08:50

NOT FOR PUBLICATION, DISTRIBUTION OR RELEASE, DIRECTLY OR INDIRECTLY, IN
THE UNITED STATES OF AMERICA OR IN AUSTRALIA, CANADA OR JAPAN OR
ANY OTHER JURISDICTION IN WHICH OFFERS, OR SALES OF THE SECURITIES
WOULD BE PROHIBITED BY APPLICABLE LAW

Financial Information

March 23, 2022

ENGIE to sell part of its shareholding in GTT

• Sell-down of c. 3 million GTT shares representing approximately 8% of
GTT’s share capital through an accelerated bookbuild offering to
institutional investors

• The disposal is consistent with ENGIE’s enhanced divestment programme
for non-core businesses and minority shareholdings, and follows the
strategic review for its shareholding in GTT initiated in November 2020 as
well as the previous sell-down of 10% of GTT’s share capital in May 2021
and the issuance of Exchangeable Bonds in June 2021 over 10% of GTT’s
share capital

• ENGIE’s shareholding in GTT would, upon completion of the Offering and
in case of exchange in full of the outstanding Exchangeable Bonds, be
reduced to c. 12% of GTT’s share capita

[the grumpy old men] 30/8/2022 08:47

Engie Says Gazprom to Reduce Gas Deliveries Starting Tuesday

French utility says it has secured enough gas to meet demand

Prime minister has urged businesses to reduce energy use

By

Francois De Beaupuy

Bloomberg

30 août 2022 à 08:38 UTC+2
Updated on30 août 2022 à 09:36 UTC+2

@FrancoisDeBeaup


Russian energy giant Gazprom PJSC has informed Engie SA of a reduction in gas deliveries starting Tuesday because of disagreements over some contracts, the French utility said, signaling a further squeeze in Europe’s energy supplies.

The announcement follows Monday’s call from French Prime Minister Elisabeth Borne for businesses to cut energy use or face possible rationing this winter if Russia halts gas deliveries in retaliation for Europe’s support for Ukraine. A much higher than usual number of outages at Electricite de France SA’s aging nuclear reactors is also straining the energy market, sending gas and electricity prices in Europe to records.

[waldron] 28/8/2022 18:21

France Nears Deal With Algeria for More Natural Gas Imports

Tara Patel, Bloomberg News


French power prices for the fourth quarter rose as much as 4.6 percent to record 77.50 euros per megawatt-hour, according to broker data compiled by Bloomberg.


French utility Engie SA is closing in on an agreement with Algeria for an increase in imports of natural gas, a deal that could come after an official visit to the country by President Emmanuel Macron.

“Diplomatic negotiations are ongoing,” government spokesman Olivier Veran said Sunday on BFM TV, adding that an announcement could come shortly. Europe 1 radio first reported on the possible accord that could raise deliveries by about 50%. Veran declined to comment on the figure.

“There was a rapprochement during the visit,” he said. “The visit can’t be summarized by energy questions, even though in the current context the question of energy was on the table.”

Engie Chief Executive Officer Catherine Macgregor, who was part of Macron’s delegation, met with Algeria’s energy minister and the head of state-run Sonatrach, Europe 1 reported. France gets about 8% of its gas from Algeria, it said.

An Engie spokesman confirmed ongoing talks, but declined to give details about the nature or timing of any new agreement.

Algeria is Europe’s biggest gas supplier after Russia and Norway, including to France, and it has discovered new reservoirs that have drawn growing interest. The Algerian government recently signed deals with Italy for increased gas shipments.


(Adds comment from Engie in fifth paragraph.)

[ariane] 27/8/2022 16:39

flandersnews.be

Open letter to keep another two nuclear reactors open longer, but Engie says "no"

Staff working at the nuclear reactors Doel 3 and Tihange 2 have put forward the option of keeping them open longer amidst the urgency of the energy crisis. However Engie, the company that manages the sites, has retorted that this is impossible.


Michaël Torfs
15:59



Doel 3 and Tihange 2 are scheduled to close in September this year and February next year respectively following the law on the nuclear phase-out in Belgium. However, employees working at the nuclear plants have written an open letter to the federal government proposing to keep them open until after the winter of 2025-2026.

One trades union source says the letter enjoys broad support among the staff, another source says the support varies. "We finally want to speak out. We are very concerned about about the deepening energy crisis in this war, and we are ready to make our contribution to have an answer to the Russian aggression with clean energy", one passage reads.

Doel 3 and Tihange 2 are the two nuclear reactors which showed cracks in the past. They had to be put offline for maintenance works as a result, but staff say this problem can be tackled. The youngest nuclear reactors in Belgium, Doel 4 and Tihange 3, will stay open longer because of the energy crisis.

But the scenario of four reactors staying open longer, is not so probable, despite the International Energy Agency (IEA) having made the same suggestion before. The French energy suppliers Engie have said that "it is impossible to extend the lifetime of the two reactors because of technical and safety reasons."

[waldron] 22/8/2022 18:16

Engie SA said Monday that its 50-50 joint venture with EDP Renovaveis SA, Ocean Winds, was awarded two seabed leases for offshore wind projects in Scotland.

Ocean Winds was named the preferred bidder by Crown Estate Scotland for two sites off the Shetland Islands with a total of 2.3 gigawatts capacity, the French energy company said.



Write to Ed Frankl at [e-mail]



(END) Dow Jones Newswires

August 22, 2022 11:07 ET (15:07 GMT)

[grupo guitarlumber] 01/8/2022 17:00

offshoreenergy.biz


Gasunie sells remaining Eemshaven LNG terminal capacity to Engie



August 1, 2022, by Sanja Pekic

French energy major Engie has booked the remaining capacity of the Eemshaven LNG terminal, owned by the Gasunie subsidiary EemsEnergyTerminal.


EemsEnergyTerminal sold the remaining capacity of the LNG terminal in Eemshaven to Engie which purchased the last billion cubic metres (bcm). The total eight bcm available in the Eemshaven LNG is now sold out.

Earlier contracts were signed with ČEZ (Czech Republic) and Shell Western LNG B.V.

The first delivery of LNG through the terminal is to take place as early as mid-September.

With these new capacities added to its existing LNG portfolio, Engie wants to strengthen its energy diversification strategy and increase its ability to supply LNG to Europe.

Ulco Vermeulen, a member of the executive board of Gasunie, said: “In a period of just three months, the floating LNG terminal is now completely sold out. In the coming weeks, all attention will be focused on the technical preparation of the location for the floating terminal. This too will take place at record speed.”

According to Marc Pannier, executive committee member of an Engie’s business entity, “these new capacities are part of ENGIE’s strategy to secure the supply for our customers and support the energy independency in Europe.”

Until this year, the Netherlands only had an LNG terminal in the port of Rotterdam.

The expansion in Eemshaven and the optimisation of the Rotterdam terminal will double the LNG import capacity.

The new LNG terminal in Eemshaven will consist of two floating storage and regasification units (FSRUs): the Exmar S188 and the Golar Igloo. Both are to arrive at Eemshaven in early September.


Over the next five years, the floating terminal will convert LNG into gaseous natural gas in Eemshaven, after which it can be fed into the national natural gas network. In total, an additional eight bcm can be brought to the Netherlands.

[grupo guitarlumber] 01/8/2022 16:43

Ajay Patel from Goldman Sachs retains his positive opinion on the stock with a Buy rating.

The target price is being increased from EUR 19.60 to EUR 20.20.

[waldron] 01/8/2022 16:39

Engie unveils H122 profits surge ‘in unprecedented market’
Monday 1st August 2022
Facilitate Team
web_increasing-graph_credit_jdwfoto_shutterstock_1906897330.png

ENGIE unveils H122 profits surge ‘in unprecedented market’ – jdwfoto-Shutterstock

ENGIE has seen its overall net income more than double year-on-year during the first half of the year in light of the jump in commodities prices – buoyed by a supply squeeze caused by the Ukraine war.

The group’s financial statement for the half-year shows net income for the six months to June 30 rose to €5 billion (£4,117 billion) from €2.3 billion (£1,923 billion) a year earlier, as energy firms cash in on a sharp rise in oil and gas prices following the invasion.

Revenue at €43.2 billion was up 72.3% on a gross basis and 71.3% on an organic basis. EBITDA at €7.5 billion was up 44.3% on a gross basis and up 43.2% on an organic basis. EBIT at €5.3 billion was up 75.3% on a gross basis and up 73.1% on an organic basis.

Capex in H122 amounted to €3.3 billion, of which €2.2 billion was growth capex, dedicated to renewables, networks and energy solutions activities, aligning with the group’s strategic roadmap.
Efficiency improvements

Against high levels of inflation, ENGIE says it maintained the momentum on efficiency improvements through the implementation of its performance plan and net EBIT contribution in the first half reached €163 million and efforts to improve the performance of loss-making entities continue. It expects its 2022-2023 performance plan contribution to reach about €0.5 billion net EBIT contribution.

ENGIE is keeping its 2022 financial guidance unchanged, citing uncertainty over the state of the general energy market, but for winter 2022/23 it claims to have substantially cut its exposure to volumes procured from Russia's Gazprom.

Since March, it says it has taken action to limit direct exposures arising from the risk of interruptions to Russian gas supplies. It remains confident about securing additional volumes from new supply sources for winter 2023-24, including liquefied natural gas, and says the expected decrease in demand would help to negate the need for Russian stocks.

It also marks “continued momentum” in executing its strategic plan, with acceleration in renewables and decentralised energy infrastructures, adding 2.2 GW of renewable capacity in the first half, including 1.3GW commissioned. The group says it is on track to meet its target to add 4GW on average per year of renewable capacity until 2025. This target is fuelled by a growing pipeline that stood at 71GW at end of June, up 5GW compared with December 2021. The additional capacity was notably boosted by 952MW for Moray East offshore wind park, commissioned by Ocean Winds, ENGIE’s joint venture with EDPR dedicated to offshore wind.

It adds that the sale of EQUANS is on track for completion in H2 2022.

CEO Catherine MacGregor said: “ENGIE continues to perform strongly, benefiting from the strength of our integrated business model. We have taken actions to significantly reduce and minimise our exposure to Russian gas and the H1 performance positions us well to deliver strong results in 2022, despite uncertainties from the prevailing energy market context.

“Looking ahead, our teams are playing and will continue to play an active role in supporting decarbonisation, energy security and affordability for our customers. The current energy market context calls for a much faster energy transition on which ENGIE is unwaveringly focused.”

[the grumpy old men] 31/7/2022 08:40

Algeria, Nigeria, and Niger sign MoU for $13bn Trans Saharan gas pipeline

Oil & GasMidstreamPipeline

By NS Energy Staff Writer 29 Jul 2022

The more than 4,000km long onshore gas pipeline is planned to start in Warri in Nigeria, travel through Niger, and end in Hassi R’Mel in Algeria, from where it will connect to existing pipelines that reach Europe
Pipeline sunset.

The Trans Saharan gas pipeline will have a transportation capacity of up to 30bcm per year. (Credit: outgunned21/Freeimages)

Algeria, Nigeria, and Niger have inked a memorandum of understanding (MoU) to build the $13bn Trans Saharan gas pipeline that will traverse the three African countries across the Sahara Desert.

The MoU was signed in Algiers by the Algerian Minister of Energy and Mines Mohamed Arkab, Nigerian Minister of State for Petroleum Resources Timipre Sylva, and Niger Minister of Energy and Renewable Energy Mahamane Sani Mahamadou.

Expected to be more than 4,000km long, the onshore pipeline is designed to transport up to 30 billion cubic metres (bcm) of natural gas per annum to Europe.

The MoU follows an agreement in June 2022 between the three African countries for reviving the gas pipeline project, which had been discussed for nearly four decades.

In 2009, an accord was signed by Nigeria, Niger, and Algeria to build the Trans Saharan gas pipeline project with an aim to commission it in 2015. However, the project could not be implemented so far due to various reasons, which include security concerns.

Last month, the Nigerien oil ministry stated that the three African countries had established a task force for the pipeline project and designated an entity for updating a feasibility study, reported the Al Jazeera Media Network.

The proposed pipeline will source natural gas from Nigeria and traverse north through Niger, and further to Algeria.

It is planned to start in Warri in Nigeria and end in Hassi R’Mel in Algeria. From there, it will connect to existing pipelines that reach Europe.

The project’s revival come at a time when the European Union is grappling with the supply of natural gas and is looking for alternative sources, following the launch of Russia’s military operations in Ukraine.

[gibbs1] 29/7/2022 08:08

(MT Newswires) -- Engie's (ENGI.PA) first-half net income more than doubled year over year thanks to a sharp rise in energy prices following Russia's invasion of Ukraine.

The French utility company's net income grew to 5.01 billion euros ($5.13 billion) from 2.34 billion euros, while EPS rose to 2.04 euros from 0.94 euros.

Revenue for the six months was 43.17 billion euros, higher than 25.05 billion euros recorded in the year-ago period.

The group confirmed its full-year guidance, expecting a recurring income group share of 3.8 billion euros to 4.4 billion euros, based on the EBITDA forecast range of 11.7 billion euros to 12.7 billion euros and EBIT guidance of between 7 billion euros and 8 billion euros.

[waldron] 22/7/2022 16:19

utilitydive.com

ENGIE, clean energy groups press FERC to approve ISO-NE plan for state review of DER interconnections
Published July 22, 2022

Ethan Howland Senior Reporter



ENGIE North America and clean energy trade groups are supporting an ISO New England proposal to require distributed energy resources to pass through state interconnection review instead of the grid operator’s process.

The proposal would address an “acute barrier” to market participation that has hurt DER developers in New England, stymied progress toward state policy goals for distributed resource development, and created unnecessary burdens for ISO-NE, Advanced Energy Economy said in comments filed Wednesday at the Federal Energy Regulatory Commission.

Separately, ISO-NE on Wednesday urged FERC to respond to a complaint over how the grid operator accounts for the capacity value of generating resources, saying the commission’s guidance is needed because ISO-NE has just started a stakeholder process to review the issue.

Dive Insight:

Like other grid operators, ISO-NE has seen strong growth in DERs, partly driven by state policy. There was nearly 4,770 MW of solar from facilities less than 5 MW in the six New England states at the end of 2021, according to ISO-NE’s distributed generation forecast working group. The working group expects that capacity to grow to 11,520 MW in 10 years, according to a May presentation by the grid operator.

Currently, some DERs are required to go through ISO-NE’s interconnection review while others go through a state process. Sorting them out is a complex, inefficient process that has led to mistakes that have hurt DER developers, ISO-NE said in a late June application at FERC.

“These errors have created a prohibitive level of uncertainty in the DER development, interconnection, and wholesale market registration process, which has chilled investment in New England, is a significant barrier to development and has resulted in adverse pecuniary outcomes for ENGIE projects,” ENGIE said in comments to FERC.

ENGIE has had dozens of DER projects barred from ISO-NE’s capacity auction after it was determined they had gone through the wrong interconnection process, sometimes due to advice of the local utility, according to the company.

Under the proposal, which grew out of a stakeholder process, all new DERs will go through state interconnection processes, similar to DER aggregations.

“By applying only one interconnection process, the state interconnection process, the proposal resolves the coordination problems and inefficiencies that ISO-NE highlighted in its filing,” ENGIE said.

Without ISO-NE’s proposed revisions, “the uncertainty and delay that new interconnecting DERs have faced in New England will only worsen as penetration of DERs continues to accelerate in response to state policies and consumer demands,” AEE, a clean energy trade group, said.

Exempting DERs from ISO-NE’s interconnection procedures will not hurt the grid operator’s ability to study how the distributed resources could affect grid reliability, AEE said, noting ISO-NE’s reliability review process will remain unchanged.

The Solar Energy Industries Association also supported ISO-NE’s proposal, which the grid operator asked FERC to let take effect by Aug. 28.

Meanwhile, ISO-NE on Wednesday asked FERC to resolve a mid-March complaint by the American Clean Power Association and RENEW Northeast over the way the grid operator calculates the capacity value of generating resources.

ISO-NE launched a stakeholder process in June to overhaul its resource capacity accreditation rules in the forward capacity market, the grid operator said, noting it aims to file a proposal with FERC late next year.

FERC guidance would help that process so stakeholders and ISO staff don’t waste time developing a plan that the commission might ultimately reject, according to ISO-NE. However, as long as the complaint is pending, ISO-NE staff and FERC commissioners and staff cannot discuss the issue because of the federal agency’s ex parte communications rules, the grid operator said.

“Given the significant value of such communication with the Commission regarding this on-going market reform effort, the ISO is requesting that the Commission act expeditiously on the complaint, in order to remove this barrier,” ISO-NE said.

[waldron] 20/7/2022 12:36

Watchdog warns French tie-up set to up HS2 costs

07/20/2022 | 06:31am BST


TAXPAYERS could be landed with an even bigger bill for HS2 if a merger between two French engineering giants goes ahead, the UK's competition watchdog warned yesterday.

The £6bn takeover of Engie-owned Equans by Bouygues agreed last year would see two of the only serious bidders for a contract for overhead power cables on the high speed line become one entity.

The Competition and Markets Authority (CMA) yesterday said that as the merging businesses were two of a small number of bidders for the lucrative tender, it was "concerned [the merger] could make the remainder of the tender process less competitive."

The contract for the delivery of catenary systems - the overhead power cables used to supply electricity to trains - is currently at an advanced stage.

The CMA's senior director Colin Raftery said that it was "important to ensure that this process isn't under- mined, as this could result in unnecessary additional costs, ultimately leaving taxpayers worse off".

The French giants have five days to respond to the competition watchdog's concerns.

The controversial rail project has already been hit with delays and cost overruns, and is still subject to substantial political opposition.

Though building work has started there remains disagreement on where and how quickly the line will eventually be delivered.

A Bouygues spokesman said: "Bouygues is working on appropriate commitments to respond to the CMA's concerns."

If the competition watchdog is not satisfied with the response it will likely trigger a so-called phase 2 investigation with a more in-depth dive into the implications of the tie-up.

Engie were not immediately available for comment last night.

City A.M., source Newspaper

[waldron] 05/7/2022 16:07

Engie Brasil Energia nearing coal segment exit

Bnamericas Published: Tuesday, July 05, 2022

Environmental evaluation Onshore Wind Coal Generation Transmission Lines Clean Energy Transition


Engie Brasil Energia is about to exit the thermoelectric segment, as it expects to conclude the sale of the Pampa Sul plant by year-end, a company spokesperson told BNamericas via email.

With 345MW installed capacity, the 2bn-real (US$380mn) asset is the last coal-fired one in the company’s portfolio and located in Candiota municipality, in Rio de Grande do Sul state. It started operations in 2019.

“The sale is positive for Engie's plans to direct operations and investments to renewable energy projects and transmission infrastructure, and is also important for the region's economy to reinvent itself, enabling a socially just transition,” the spokesperson said.

Between 2017 and 2021, the company invested 21.5bn reais in construction and acquisitions in Brazil, including 32.5% of TAG and the transmission line business, with over 2,800km of undertakings in the final stages of implementation, “an essential segment for the energy transition to occur in a fair and accessible way for all,” the spokesperson highlighted.

During the same period, renewable generation operations grew 34%, increasing the company’s installed capacity by 17% to 8,441MW. The share of renewable sources of this total grew from 86.2% in 2020 to 96% in the following year.

The company recently acquired lot 7 in Brazil's first transmission tender of 2022. Located in Pará, the project is necessary to meet the power load growth in the state’s southeast.

According to a recent survey published by local energy and environment entity Iema, Engie recorded one of the three highest CO2-equivalent emission rates among companies that own public service thermoelectric plants fired by fossil fuels and connected to the national grid in 2020.

But the French group doubted the results, highlighting that in 2020 it recorded average efficiency of 30.8% at the Jorge Lacerda thermoelectric complex, with specific consumption of 0.62t of coal/MW, and 35.2% (0.89t of coal/MW) at Pampa Sul.

“A deeper analysis of the study seems necessary to understand what mathematical methodology was used to arrive at the reported data, which do not agree with the company's findings,” the spokesperson said.

In 2021, Engie sold Jorge Lacerda to Diamante Geração de Energia and increased Pampa Sul’s energy efficiency by 0.2 percentage points.

[sarkasm] 04/7/2022 10:16

GTT receives order from Samsung Heavy Industries

Published by Abi Larkin, Editorial Assistant
LNG Industry, Monday, 04 July 2022 10:00

GTT has announced that it has received an order from its partner, the Korean shipyard, Samsung Heavy Industries for the tank design of two new LNG carriers on behalf of a European ship owner.

These two LNG carriers will have a total LNG tank capacity of 174 000 m3 per ship and will be fitted with the Mark III Flex membrane containment system, developed by GTT.

Deliveries of the vessels are scheduled for 4Q24 and 1Q25.