Petroleum production

Greek shipowners have spent an unprecedented $18 billion on newbuild gas vessels since 2021 as companies diversify their portfolios away from traditional tanker, bulker and container asset classes, according to new research published on Wednesday by VesselsValue, the data intelligence arm of maritime data and freight management solutions provider Veson Nautical.

Greek shipowners have spent an unprecedented $18 billion on newbuild gas vessels since 2021 as companies diversify their portfolios away from traditional tanker, bulker and container asset classes according to new research published on Wednesday by VesselsValue, the data intelligence arm of maritime data and freight management solutions provider Veson Nautical.  

Domestic gas consumption increased by 25.16% in the first nine months of 2024, according to National Natural Gas System Operator SA (DESFA) data, while exports decreased by 95.45%. In the first nine months of the year, natural gas consumption reached 47.65 terawatt hours (TWh) from 38.07 TWh in the corresponding period for 2023.

EU energy ministers met in Luxembourg on Tuesday to discuss the bloc's rising Russian LNG imports, Ukraine's energy shortages ahead of winter and how to balance energy prices across member states, officials said.

Türkiye is seeking to carry out oil and natural gas exploration activities in different regions in the world through partnerships, Energy Minister Alparslan Bayraktar has said.

Türkiye has put countries and regions on its radar, he noted.

"One of them is Somalia… We also want to take part in different projects in Iraq," the minister told a group of journalists in Ankara.

The first tanker carrying liquefied gas for Bulgaria is currently being unloaded at the new regasification terminal in Alexandroupolis, just two days after it became operational. This vessel, belonging to the French company TotalEnergies, holds a volume of 1 million MWh of liquefied gas, which is designated for the state gas supplier, Bulgargaz.

An event focused on business and investment opportunities in Egypt was organized by the Athens Chamber of Commerce and Industry in collaboration with the Egyptian Embassy in Athens.

The commercial operation of the LNG Terminal at the Alexandroupoli FSRU in northern Greece will begin on October 1, Gastrade CEO Kostis Sifnaios announced, following a visit to the terminal with the ambassadors of EU member-states, as well as Switzerland and Norway.

US interest in utilizing Alexandroupoli as a key liquefied natural gas (LNG) transportation hub in the Central and Southeast Europe region is highlighted by the agreement American company Venture Global announced to book 25% of the capacity to the new floating storage and regasification unit (FSRU).

Türkiye is expected to sign another long-term liquefied natural gas (LNG) supply agreement this week during Energy Minister Alparslan Bayraktar's visit to the U.S.

Bayraktar is scheduled to attend the Gastech Exhibition and Conference in Houston, Texas, which will take place between Sept. 17-19.