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German clean-tech company Sunfire and Total have joined hands for a pilot project in Germany. The companies will try to produce methanol from renewables and carbon dioxide at the Leuna refinery. A plant is being constructed at the refinery which will be completed next year and production is expected to start in 2021. The plant will produce 500 tonnes of green methanol in the first three years.
Neptune Energy has decided to acquire interests in some of Wintershall Dea's oil and gas fields in Emsland and the Grafschaft Bentheim. This agreement will help Neptune increase its existing interest in the Bramberge, Meppen and Annaveen oilfields. This final transaction will take place after regulatory and partner approvals. Its expected completion is in the third quarter of 2019.
The industry group of Germany, MWV said that presently they are not facing any shortage of gasoline or diesel due to contaminated crude oil on Russia's Druzhba pipeline. But the company has warned of future challenges if improvements do not occur. Pertaining to the above reason, Russia temporarily stopped the oil flows last month which resulted in the rise in global prices.
French supermajor Total has informed about suspending operations at some of the Leuna refinery units in Germany, over technical checks due to contaminated Russian crude supply. High levels of organic chloride contaminations were discovered in crude oil supplied via the Druzhba pipeline in April. Total expects operations to resume at the 230,000 barrel-per-day refinery on Saturday.
In an effort to cope up with the objections posed by the US and other European countries, the developers of natural gas pipeline from Russia to Germany have applied for a third alternative route. This route is from the south of Denmark's Baltic Sea island of Bornholm. The Danish Energy Agency has informed that Nord Stream 2 has applied for an alternative route which includes Denmark's exclusive economic zone.
Amidst the ongoing debate on Nord Stream 2 pipeline, the European Union's main institutions have agreed on a tentative deal. This deal will increase the bloc's role in managing a pipeline from Russia to Germany. EU's Energy Commissioner has declared "that everyone interested in selling gas to Europe must respect European energy law." However, US has declared Nord Stream as a threat to Europe's energy security.
NordStream 2 pipeline has been under severe criticism from a long period of time. Previously, Ukraine’s ambassador to Germany stated that the fellow nation should put this pipeline project on hold after Russia’s act of seizing three Ukrainian ships near Crimea. But, Germany is unaffected by any criticism regarding NordStream 2 which will transport gas to Europe, bypassing Ukraine. Germany’s government spokesman informed that Ukraine will remain a transit country.
Germany’s energy major, Wintershall Holding has been awarded 10% stakes in the Ghasha ultra-sour gas mega project by UAE. The energy giant, Abu Dhabi National Oil Co (ADNOC) informed about this deal on Monday. The foundation of this deal is ADNOC’s new integrated gas strategy which has been focused upon unlocking and maximizing value from Abu Dhabi’s gas reserves. Abu Dhabi wants to be gas self-sufficient in the coming future.
Oil prices today declined, stressed by supply rise in a market where consumption is expectedly slow. Benchmark Brent crude oil futures were trading 0.3% lower at $65.90 per barrel. US WTI crude futures were at $55.95, down by 0.5% from their last close. Data released this week demonstrated economic contraction in Japan and Germany in the third quarter.
According to the source, SOCAR Turkey, the state oil company of Azerbaijan, is planning an acquisition in natural gas distribution in 2019. For this, the company has made an offer to EWE, the German energy company. Feasibility assessment has been completed by SOCAR in order to invest in the second petrochemical facility, informed the Chief External Affairs Officer, Murat LeCompte.
BASF and LetteOne have entered into a definitive transaction agreement to combine Wintershall and DEA and convert it into a joint venture (JV) to be called Wintershall DEA. LetterOne will give all of its shares in DEA to Wintershall, which will then be renamed as Wintershall DEA. Subject to approvals, the merger is expected for completion in 2Q2019. The JV will be headquartered in Kassel and Hamburg, Germany.
RWE, a German utility has announced that in order to import LNG, the company at present has gained access to considerable capacity of German terminal. RWE’s executive said "LNG remains a key growth area for RWE." Recently, Qatar Petroleum has informed that it is in talks with RWE and Uniper regarding a local LNG terminal. An agreement between RWE and German LNG Terminal highlights the company’s commitment to the fuel.
A huge fire broke out at the Vohburg Refinery in Germany, followed by a blast. The incident forced the authorities to evacuate the surrounding area inhabited by atleast 1,800 residents. The mishap at the 120,000 barrel per day (bpd) plant, part of the Bayernoil refinery complex, left 10 people injured. Varo Energy, Rosneft Deutschland, Eni Deutschland and BP Europe jointly own stakes of Bayernoil.
Amidst all the controversies and the risk of sanctions, Nord Stream 2 pipeline work is rolling on schedule according to its operator. It will transport gas from Russia to Germany. Earlier a warning was issued by Washington that the Western firms were at risk of sanctions. But then too, the European investors are committed to the project. The Nord Stream 2 will start operations by the end of 2018.
The $87bn merger of Praxair with its German rival Linde is in trouble due to an unexpected demand of extra disposals by US regulators before they approve the merger. In December, the two companies settled on an all-share merger, overtaking France’s Air Liquide that would make the world’s largest gas distributor. After their talks with FTC, the two companies would need to agree upon selling assets exceeding previous thresholds.
German E&P giant, DEA Deutsche Erdoel has secured the contracts for three exploration blocks 16, 17 and 30, offshore Mexico granted by the National Hydrocarbons Commission CNH (Comisión Nacional de Hidrocarburos). The contracts were signed by DEA’s subsidiary, Deutsche Erdoel Mexico, and partners. Deutsche Erdoel Mexico will act as the operator in all three blocks.
As Chancellor Merkel meets President Vladimir Putin in Russia, Germany has decided to defend the planned Nord Stream 2 pipeline amidst warnings from the US to impose sanctions to prevent Russia’s gas export. Germany repeatedly specified that it has no intention to go against Nord Stream 2 provided Ukraine isn’t deprived of a role of a major gas transit country. With that being said, Germany has totally brushed aside U.S. concerns.