Liquefied natural gas

Between 2024 and 2035, there will be a shortage of about 200 million tonnes a year on the Liquefied Natural Gas Market and a chance for Russia, Russian energy minister Alexander Novak said in an interview with Kommersant. According to him, the country could take a share of 15-20% of the liquefied gas market by 2035. At the moment it is about 4%.

Turkey should benefit as much as possible from a more diversified global natural gas market, as the United States, Canada and Australia have become major players in liquefied natural gas (LNG), according to Fatih Birol, the executive director of the International Energy Agency (IEA).

From November 24, Bolivia will hold a fourth meeting of gas exporting countries that control 70 percent of global blue-fuel reserves, 40 percent of gas pipelines and 65 percent of global LNG trades, reports TASS.

The Forum of Exporters of Gas is an international, intergovernmental organization established in 2008.

Greece's state-controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a liquefied natural gas terminal in northern Greece, DEPA said.

Greece currently has one LNG terminal on Revythousa, an islet off Athens.

State-run Qatargas, the world's largest producer of liquefied natural gas (LNG), said on Sept. 20 that it had signed a medium-term sales and purchase agreement with Turkey's Botaş to deliver 1.5 million tons of LNG each year for three years.

The Hellenic Republic Asset Development Fund (TAIPED) is preparing to hire advisers to explore the privatization of 10 port authorities in which it holds stakes.

Although the process relates to all 10 ports, sources suggest that the first to be sold will be that in Alexandroupoli as it has already attracted substantial interest domestically and internationally.

Croatia may hope that its ambitious LNG terminal on Krk will turn it into the region’s energy hub - but other countries cherish the same ambition.

Royal Dutch Shell Plc is looking to bring natural gas from Israel and Cyprus to market, a step that could help turn the Mediterranean region into a major gas-producing hub.

According to sources, Shell is in talks to buy natural gas from Israel’s Leviathan field and combine it with output from Cyprus’ Aphrodite field – in which has a 35% stake – and pump it to an LNG plant in Egypt.

By Charles Ellinas

Given the prospect of new gas discoveries in Cyprus’ EEZ, it is timely to review recent developments.

Floating liquefied natural gas (FLNG) scored some notable successes so far in 2017, to the extent that the world may be witnessing a resurgence of this technology.

Novatek's Yamal liquefied natural gas (LNG) project will increase Russia's global natural gas exports by around 10 percent, Russian Deputy Energy Minister Anton Inyutsyn said on July 12.