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Austria is preparing for the end of its long-standing dependence on Russian gas, as OMV AG enforces a ruling against Gazprom PJSC. The CEO of OMV stated that the company can no longer rely exclusively on Gazprom, and there is a growing probability that Russia will cut gas flows once Austria enforces its arbitration claim. OMV has diversified its gas sources and can meet supply obligations through 2025 and beyond via alternative sources such as its own assets in Norway and LNG purchases. [Extracted from the article]

Germany's government is considering an initial public offering (IPO) as the preferred option for privatizing Uniper SE, a utility that was nationalized during Europe's energy crisis in 2022. The government is also exploring off-market sale alternatives. The proceeds from the sale would be used to address a budget shortfall. Uniper's earnings have recovered since the crisis, and the company is preparing for new investments in the nation's energy transition. The German state currently owns over 99% of Uniper and has committed to reducing its holding by 2028. Uniper has welcomed the announcement and will collaborate with the government on necessary preparations. [Extracted from the article]

Russia's President Vladimir Putin has stated that Russia is prepared to continue sending gas to Europe through pipelines in Ukraine beyond 2024. While Europe has attempted to reduce its reliance on Russian gas since Russia's invasion, some countries still receive gas through these pipelines. However, Ukraine's President Volodymyr Zelenskiy has expressed his reluctance to extend the transit contract with Russia. Putin mentioned that Moscow cannot force Kyiv to extend the agreement but could redirect the gas to alternative export routes such as Turkey. Additionally, Putin acknowledged that state-controlled Gazprom PJSC would experience a loss in revenue if some of the gas was redirected to the domestic market. The US and its allies have recently imposed stricter restrictions on Russian gas, including banning transshipments of Russian liquefied natural gas in the European Union's ports and sanctioning future projects for super-chilled fuel. Despite these challenges, Putin expressed confidence that Russia would resolve its issues and continue gas sales, even if prices were to increase significantly. Putin also mentioned that one string of the Nord Stream 2 pipeline to Germany remains intact after explosions destroyed the other conduit in 2022. If Europe no longer wants Russian pipeline gas, Gazprom will increase exports to other markets. Furthermore, Russia plans to expand its share of the global liquefied natural gas (LNG) market, despite the difficulties posed by US sanctions. [Extracted from the article]

Germany has earned €275 million ($301 million) from its shareholding in Securing Energy for Europe GmbH (SEFE), a former unit of Russia's Gazprom. This payment is a partial repayment of the 2022 bailout and is part of a "claw-back" mechanism set up by the European Union. Germany nationalized SEFE after Russia's invasion of Ukraine and the curtailment of gas shipments to Europe. The European Commission approved the nationalization and provided a €6.3 billion capital injection, with certain obligations to be fulfilled. The payment is intended to prevent SEFE from gaining a competitive advantage over other companies. [Extracted from the article]

Kevin Gallagher, CEO of Santos Ltd, is facing pressure to accelerate the company's growth strategy and boost its lagging share price. Gallagher aims to increase production volume by over 50% by the end of the decade, relying on the Asia Pacific region's demand for gas. However, Santos has underperformed compared to its peers, leading to multiple takeover attempts. Gallagher is determined to hold firm and sees potential in the company's strong base business. However, challenges such as project delays and environmental concerns pose obstacles to Santos' growth plans. [Extracted from the article]

Despite concerns that payments to Gazprom PJSC could result in a halt to Russian gas supplies, Europe is expected to receive its usual amount of gas on Friday. Over 40 million cubic meters of Russian gas are scheduled to transit through Ukraine, indicating that Gazprom's export arm has received payment for supplies. The concern over flows from Russia arises from a recent ruling that awarded German utility Uniper SE over €13 billion in damages for undelivered Gazprom cargoes, leading to fears that payments from Gazprom's European importers could be seized. Austria and Slovakia are the main importers of Russian pipeline gas in Europe, and a potential cut to these flows would increase reliance on liquefied natural gas. [Extracted from the article]

Bolivia is offering its pipelines to transport natural gas from Argentina's Vaca Muerta field to Brazil, potentially providing much-needed foreign currency for both countries. Bolivia's state energy company, YPFB, currently transports Bolivian gas to Argentina, but this contract expires in September. Bolivia's economy has been declining due to a lack of investment in the gas sector, and the country has become a net importer of energy. The president of Bolivia, Armin Dorgathen, did not disclose the potential income from this arrangement, but it could help alleviate the shortages of gasoline and other goods that Bolivia is currently experiencing. [Extracted from the article]

European officials are engaged in discussions to maintain the flow of gas through the Russia-Ukraine pipeline, as they seek to prevent the ongoing war from further impacting the continent's energy supplies. While Europe has attempted to reduce its reliance on Russian gas, several eastern European countries still receive it through the pipeline that crosses Ukraine. The current transit agreement is set to expire at the end of the year, and there are concerns that the gas flow will cease due to the conflict. European governments and companies are exploring options to keep the gas flowing, including the purchase and injection of gas from Azerbaijan into Russian pipelines heading to Europe. This idea is gaining momentum, as it would allow Europe to avoid buying Russian gas while trying to limit Moscow's revenues. Ukraine is in favor of this arrangement, as transit revenue is crucial for its war-ravaged economy. The discussions are still in the early stages, and decisions are expected to be made closer to the end of the year. [Extracted from the article]

European officials are engaged in discussions to maintain the flow of gas through the Russia-Ukraine pipeline, as they seek to prevent the ongoing war from further impacting the continent's energy supplies. While Europe has attempted to reduce its reliance on Russian gas, several eastern European countries still receive it through the pipeline that crosses Ukraine. The current transit agreement is set to expire at the end of the year, and there are concerns that the gas flow will cease due to the conflict. European governments and companies are exploring options to keep the gas flowing, including the purchase and injection of gas from Azerbaijan into Russian pipelines heading to Europe. This idea is gaining momentum, as it would allow Europe to avoid buying Russian gas while trying to limit Moscow's revenues. Ukraine is in favor of this arrangement, as transit revenue is crucial for its war-ravaged economy. The discussions are still in the early stages, and decisions are expected to be made closer to the end of the year. [Extracted from the article]

European officials are engaged in discussions to maintain the flow of gas through the Russia-Ukraine pipeline, as they seek to prevent the ongoing war from further impacting the continent's energy supplies. While Europe has attempted to reduce its reliance on Russian gas, several eastern European countries still receive it through the pipeline that crosses Ukraine. The current transit agreement is set to expire at the end of the year, and there are concerns that the gas flow will cease due to the conflict. European governments and companies are exploring options to keep the gas flowing, including the purchase and injection of gas from Azerbaijan into Russian pipelines heading to Europe. This arrangement would allow Europe to avoid buying Russian gas while trying to limit Moscow's revenues. The idea is gaining momentum, as Ukraine is in favor of it due to the revenue it generates for the war-torn economy. However, the talks are still in the early stages, and decisions are expected to be made closer to the end of the year. [Extracted from the article]

European officials are engaged in talks to maintain the flow of gas through the Russia-Ukraine pipeline, as they seek to prevent the ongoing war from further impacting the continent's energy supplies. While Europe has attempted to reduce its reliance on Russian gas, several eastern European countries still receive it through the pipeline that crosses Ukraine. The current transit agreement is set to expire at the end of the year, and there are concerns that the gas flow will cease due to the conflict. European governments and companies are discussing options with Ukraine to keep the gas flowing, including the possibility of buying and injecting gas from Azerbaijan into Russian pipelines heading to Europe. This arrangement would allow Europe to avoid purchasing Russian gas while trying to limit Moscow's revenues. The idea is gaining momentum, as Ukraine is in favor of it and relies on transit revenue to fund its war-ravaged economy. The negotiations are still in the early stages, and decisions are expected to be made closer to the end of the year. The gas giant Uniper SE and the German government are involved in the discussions, and Slovakia and Austria are among the countries that could benefit from a deal. The European Commission believes that the bloc can withstand the end of Russian transit via Ukraine without major security risks, as it plans to rely on alternative suppliers and pursue its climate strategy. However, some member states are concerned and fear a repeat of the energy crisis. [Extracted from the article]

Norwegian gas company Equinor is in advanced talks to invest in German hydrogen startup HH2E AG as part of its efforts to diversify its energy production. Equinor, Europe's largest natural gas supplier, is expected to make a decision on the funding size in July. HH2E is developing a hydrogen project in Germany to reduce greenhouse gas emissions, but has not yet made a final investment decision. Equinor's investment would provide credit quality to the project and make it more financially viable. Germany aims to produce 10 gigawatts of hydrogen by 2030 as part of its climate-neutral goals. [Extracted from the article]

Austria's reliance on Russian natural gas is at risk due to a potential court case that could interrupt payments to Gazprom. OMV AG, an Austrian energy company, warned that failure to pay Gazprom on time could lead to a halt in gas supplies. The warning is based on a foreign court decision obtained by a major European energy company, although the specific company and court case are not disclosed. While an interruption in Russian supplies could temporarily increase prices, Austria has adequate alternatives and high storage levels to ensure supply until 2026. [Extracted from the article]

Equinor ASA, a Norwegian oil and gas company, has become Europe's top supplier of natural gas, surpassing Russia's Gazprom. Equinor now provides 30% of the European Union's gas, while Gazprom previously supplied 35%. Norway's increased prominence has raised concerns about relying too heavily on a single supplier, but the country's steady history of delivering energy to Europe has mitigated criticism. However, the surge in demand for gas has redirected resources and talent away from Norway's green initiatives, leading to concerns about the impact on the broader green transition. [Extracted from the article]

Russia's focus on increasing natural gas exports to China is proving to be less profitable than its previous reliance on European markets. Gas prices for China are expected to be up to 28% lower than those for European clients until at least 2027. This financial setback highlights the consequences of Russia's efforts to build energy ties with China amidst tensions with the West. The Russian gas giant Gazprom PJSC had already anticipated a decline in demand from European markets and saw China as a future growth market. Despite plans to increase gas exports to China, it will only account for roughly half of what Russia used to send to Europe before the conflict in Ukraine. [Extracted from the article]

Spanish oil and gas giant Repsol SA is selling a quarter of its exploration and production division for $3.4 billion to a US private equity firm, in a dramatic downsizing of its exposure to fossil fuels. [ABSTRACT FROM AUTHOR]

Eni's natural gas business' adjusted operating profit fell to €111 million, versus estimates of €203.1 million, compared with a strong previous quarter of €1.1 billion. (Bloomberg) -- Eni SpA's third-quarter profit beat analyst estimates, but slumped on lower prices as the energy crisis subsided. [Extracted from the article]

(Bloomberg) -- Russian President Vladimir Putin overplayed his hand by trying to use Gazprom PJSC to bring Europe to its knees, and now his efforts to bolster the state-controlled gas giant are at the mercy of China. The Kremlin is keen for fresh export deals to shore up Gazprom's international presence, which suffered after Putin failed to cow Ukraine's allies in Europe with threats of freezing homes. [Extracted from the article]

BP and Adnoc are now considering whether to improve on their initial proposal for the Israeli gas explorer made in late March or walk away, according to the people, who asked not to be identified discussing confidential information. (Bloomberg) -- An independent committee evaluating BP Plc and Abu Dhabi National Oil Co.'s roughly $2 billion offer for 50% of NewMed Energy has requested the oil and gas giants substantially increase their bid, people with knowledge of the matter said. [Extracted from the article]

(Bloomberg) -- An independent committee evaluating BP Plc and Abu Dhabi National Oil Co.'s roughly $2 billion offer for 50% of NewMed Energy has requested the oil and gas giants substantially increase their bid, people with knowledge of the matter said. Shares in NewMed have risen about 60% in Tel Aviv since BP and Adnoc's March proposal, giving the company a market value of 13.5 billion shekels ($3.5 billion). [Extracted from the article]

(Bloomberg) -- LNG Japan Corp. agreed a deal worth as much as $880 million for a stake in a giant natural gas project off Australia, a new step to secure supply of a fossil fuel the nation expects to retain a key role in its energy mix. Under the deal, LNG Japan will pay a $500 million purchase price and other amounts including reimbursements for project spending that are expected to bring the total to about $880 million, according to Woodside's statement. [Extracted from the article]

(Bloomberg) -- LNG Japan Corp. agreed a deal worth as much as $880 million for a stake in a giant natural gas project off Australia, a new step to secure supply of a fossil fuel the nation expects to retain a key role in its energy mix. "The support of LNG Japan is testament to the quality of the Scarborough project", Woodside's Chief Executive Officer Meg O'Neill said in a statement. [Extracted from the article]

(Bloomberg) -- Russia may sanction Ukraine's state-run energy company if it pursues legal claims against the nation and Gazprom PJSC, putting gas shipments to Europe at risk. "If Naftogaz continues such malevolent actions, it can't be ruled out that this may lead to the imposition of sanctions by the Russian Federation", Gazprom Chief Executive Officer Alexei Miller said in televised comments on Thursday. [Extracted from the article]

Spanish oil and gas giant Repsol SA is selling a quarter of its exploration and production division for $3.4 billion to a US private equity firm, in a dramatic downsizing of its exposure to fossil fuels. [ABSTRACT FROM AUTHOR]

The Northern Territory's plan includes a commitment to aim to ensure Australia's emissions don't increase as a result of new onshore gas production, according to the region's government. (Bloomberg) -- Scientists warned about the potential climate impact of shale gas production in Australia's Northern Territory as the region - which had previously banned fracking - confirmed it will allow developers to seek approvals for projects. [Extracted from the article]

(Bloomberg) -- Citigroup Inc. canceled a contract to run the business account of Rosneft PJSC's German unit, intensifying pressure on the oil refiner as it struggles to obtain crude. Spokespeople for Citi and Rosneft Deutschland declined to comment. [Extracted from the article]

Messer could use the proceeds to buy full control of a joint venture with CVC Capital Partners, they said. The company, which focuses on industrial, medical and specialty gases, competes with companies such as Air Liquide SA and Air Products & Chemicals Inc. Beyond industrial gases, the company also builds cutting systems and gas control equipment. While buying out the joint venture and bringing on an external investor could pave the way for an IPO of the group down the road, CEO Stefan Messer has repeatedly said he prefers to keep the family-owned company private. [Extracted from the article]

Messer has an option to buy out CVC from March, which has triggered the group's hunt to find funds to pursue a deal, the people said. (Bloomberg) -- Messer SE, the 125-year-old German industrial gas maker, is sounding out sovereign wealth funds to help finance a deal to buy full control of a joint venture with CVC Capital Partners, people with knowledge of the matter said. The gas company could use the fresh funds to purchase CVC's stake in a joint venture, known as Messer Industries GmbH, that owns former Linde assets in North and South America, according to the people. [Extracted from the article]

(Bloomberg) -- The operator of the Nord Stream pipeline said an initial survey found manmade craters on the seabed near the damaged gas link. The blasts damaged both lines of the idled Nord Stream and one line of the twin Nord Stream 2 pipeline that failed to start operations because of earlier western sanctions. [Extracted from the article]

(Bloomberg) -- South Korea's largest private gas supplier SK E&S Co. removed claims it would produce carbon-free liquefied natural gas from its marketing materials after the government expanded a crackdown on misleading labels of fossil fuel projects. In its initial marketing materials, SK E&S had claimed it would capture and offset the greenhouse gases produced while making LNG. SK E&S revised its marketing materials recently to proactively respond to the environment ministry's guidance following a discussion with lawmaker Jin's office, it said in the statement. [Extracted from the article]

SK E&S revised its marketing materials recently to proactively respond to the environment ministry's guidance following a discussion with lawmaker Jin's office, it said in the statement. In its initial marketing materials, SK E&S had claimed it was capturing and offsetting the greenhouse gases produced while making LNG. (Bloomberg) -- South Korea's largest private gas supplier SK E&S Co. removed claims it produced carbon-free liquefied natural gas from its marketing materials after the government expanded a crackdown on misleading labels of fossil fuel projects. [Extracted from the article]

(Bloomberg) -- Gazprom PJSC told European gas customers that part of the damaged Nord Stream network could still transport fuel -- but only on the new pipeline that Germany ditched in February in protest at Russia's aggression toward Ukraine. The pipeline, which was set to double the capacity of Nord Stream, had been sanctioned by the U.S. and faced strong opposition in parts of Europe, forcing Germany to eventually give up on the project. [Extracted from the article]

Those figures are subject to change as Gazprom makes the final decision on supplies based on market conditions, client requests, and potentially further escalations of Russia's standoff with the West. (Bloomberg) -- Russia set out just how much its gas flows to the global market will fall in the next three years -- and the numbers underscore the scale of the challenge facing Europe's energy consumers. [Extracted from the article]

(Bloomberg) -- Russia set out just how much its gas flows to the global market will fall in the next three years -- and the numbers underscore the scale of the challenge facing Europe's energy consumers. Those figures are subject to change as Gazprom makes the final decision on supplies based on market conditions, client requests, and potentially further escalations of Russia's standoff with the West. [Extracted from the article]

The Uniper rescue also raises questions about the implementation of the government's planned gas levy. (Bloomberg) -- Germany will nationalize Uniper SE in a historic move to rescue the country's largest gas importer and avert a collapse of the energy sector in Europe's biggest economy. [Extracted from the article]

As part of the deal, expected to be completed by the end of the year, Germany will take control of Uniper, buying the 78% owned by Fortum -- which is majority owned by the Finnish government -- for about 480 million euros. The government in Berlin will inject 8 billion euros ($8 billion) into the Dusseldorf-based utility via a capital increase at 1.70 euros per share, the German economy ministry, Uniper and Finnish parent company Fortum Oyj said Wednesday. [Extracted from the article]

As part of the deal, Germany will take full ownership of Uniper, buying Fortum's controlling stake of around 78% for about 500 million euros, said Fortum, which is majority owned by the Finnish government. (Bloomberg) -- Germany will nationalize Uniper SE in a historic move to rescue the country's largest gas importer and avert a collapse of the energy sector in Europe's biggest economy this winter. [Extracted from the article]

As part of the deal, Germany will take full ownership of Uniper, buying Fortum's controlling stake of around 78% for about 500 million euros, said Fortum, which is majority owned by the Finnish government. (Bloomberg) -- Germany will nationalize Uniper SE in a historic move to rescue the country's largest gas importer and avert a collapse of the energy sector in Europe's biggest economy this winter. [Extracted from the article]

(Bloomberg) -- Germany's historic bailout of natural gas giant Uniper SE is unlikely to be Europe's last energy-sector rescue amid the crisis sparked by Russia's war in Ukraine. "There might be more of this because in view of the incredibly high energy prices which cannot be passed on to the consumers the states must come in", European Investment Bank President Werner Hoyer told Bloomberg Television on Tuesday. [Extracted from the article]

Separately, Fortum confirmed the negotiations are in the final stages and that the elements being discussed include a sale of Fortum's Uniper shares to the German state, return of the financing Fortum granted to Uniper as well as a planned capital injection by the German state to Uniper. (Bloomberg) -- The German government is planning to inject about 8 billion euros ($8 billion) into Uniper SE as part of a historic agreement to nationalize the gas giant and stave off a collapse of the country's energy sector. [Extracted from the article]

The new agreement would replace a bailout plan from July that would have seen the government take a 30% stake in Uniper. (Bloomberg) -- The German government is planning to inject about 8 billion euros ($8 billion) into Uniper SE as part of a historic agreement to nationalize the gas giant and stave off a collapse of the country's energy sector. [Extracted from the article]

A provisional deal between Chancellor Olaf Scholz's administration, Uniper and its main shareholder, Finland's Fortum Oyi, has been reached and could be announced as soon as Wednesday, according to people familiar with the situation. As part of the deal, Germany will buy Fortum's stake in Uniper and the money injected in the Dusseldorf-based utility will allow it to repay a Fortum loan. [Extracted from the article]

Talks over Uniper are particularly fraught as they also involve the Finnish government, which is the majority owner of Fortum, which in turn is Uniper's largest shareholder. (Bloomberg) -- The German government is closing in on an agreement to nationalize gas giant Uniper SE, as Berlin moves to stave off a collapse of the country's energy sector. [Extracted from the article]

(Bloomberg) -- The German government is closing in on an agreement to nationalize gas giant Uniper SE, with the final details still being ironed out, according to people familiar with the situation. A provisional agreement between the government, Uniper and its main shareholder, Finland's Fortum Oyi, has been reached, the people said, speaking under condition of anonymity. [Extracted from the article]

(Bloomberg) -- China's biggest energy groups are diverting more liquefied natural gas away from their languishing home market, offering some relief to desperate buyers suffering supply shortages in other parts of the world. China was the world's top LNG buyer in 2021, but the nation's strict Covid Zero policies and economic slowdown mean demand has slumped more than 20% this year. [Extracted from the article]

Natural gas prices in Europe are rising due to higher-than-normal demand caused by a scorching summer and low river water levels. The energy crisis, exacerbated by supply cuts from Russia, is threatening major economies with recession. European gas prices have been soaring, and the water level in the Rhine River, a key transportation route, has hit a new low, making it uneconomical for barges to transit. Gazprom, the Russian gas giant, estimates that gas prices could surge above $4,000 per thousand cubic meters this winter. Germany is signing deals to import liquefied natural gas (LNG) through new terminals, but competition for LNG cargoes is increasing due to high temperatures and increased demand in Asia. [Extracted from the article]

(Bloomberg) -- Gazprom PJSC's daily gas production plummeted in July to the lowest since at least 2008 as its exports to key markets fell for a fourth consecutive month. Meanwhile, Gazprom halted flows via the Yamal-Europe link, which runs through Belarus and Poland to Germany, in May amid counter-sanctions from Russia. [Extracted from the article]