Germany will receive liquefied natural gas (LNG) from Canada through the first 20-year supply agreement to Europe, with a contract between the Ksi Lisims LNG project and the German state-owned company SEFE.

According to Canadian Minister of Energy and Natural Resources Tim Hodgson, “SEFE (Securing Energy for Europe) will purchase one million tons of LNG annually,” with deliveries scheduled to begin in the early 2030s.

With this agreement, Germany becomes the first European country to purchase Canadian liquefied natural gas, which “represents a further step in European efforts to reduce energy dependence on Russia following the Russian invasion of Ukraine.”

Hodgson added that this contract extends beyond the energy sector and linked it to “Prime Minister Mark Carney’s government’s strategy to strengthen Canadian economic sovereignty and expand trade outside the United States.”

More than 30 billion Canadian dollars in investments (21.6 billion US dollars or 18.65 billion euros) will be negotiated. The project is also expected to create thousands of jobs and generate more than 15 billion Canadian dollars in economic activity.

M.Pino

Source: elperiodicodelaenergia

(Reference image source: kiryl on Unsplash)

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The Vice President of Venezuela and also Minister of Hydrocarbons, Delcy Rodríguez, met on Friday, February 14, in Istanbul, Turkey, with the Turkish Minister of Energy, Alparslan Bayraktar, to review the agreements between both nations on oil, natural gas and mining.

Both officials discussed the steps to strengthen energy cooperation. In this regard, Minister Bayraktar said in X: “At this meeting we talked about the work we have carried out within the framework of the agreements on cooperation in the oil, natural gas and mining sectors signed last year” and added that the objective is “to take relations even further through cooperation in these sectors.”

The Venezuelan Minister of Hydrocarbons arrived in Istanbul from India, where she was to participate in Energy Week in New Delhi.

Over the past few years, the presidents of Turkey and Venezuela, Recep Tayyip Erdogan and Nicolás Maduro, have held various talks and deepened the alliance and friendship, “but bilateral trade remains relatively unimportant and Venezuela is not among Turkey’s oil supplying countries.”

M.Pino

Source: bancaynegocios

(Reference image source: Maksym Kaharlytskyi on Unsplash)

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La entrada Venezuela and Turkey agreed on cooperation measures in the energy sector apareció primero en Bitfinance.

Through the signing of a memorandum of understanding, the companies Petrobras of Brazil and Enarsa of Argentina will seek an alliance in the field of natural gas.

According to a statement about this alliance, it was established that “the non-binding agreement has a term of three years and will allow the exchange of information, the evaluation of cooperation alternatives and energy complementarity between the two companies.”

Argentina seeks to coordinate the necessary measures to better guarantee the country’s gas supply during the winter, since it is the period of greatest demand.

“According to Petrobras, these actions to supply gas to Argentina will not have any impact on the supply of raw material in Brazil or any additional financial cost for the company.”

For its part, the Argentine Enarsa indicated that the memorandum with this alliance will be able to supply gas to the Argentine northwest “while the recently tendered works for the reversal of the Northern Gas Pipeline are completed”, in order to bring gas from the Vaca Muerta formation, in the province Patagonian town of Neuquén, to that area of ​​the country.

It is important to highlight that it is the second unconventional gas reserve in the world and the fourth oil reserve. So its development is crucial for the South American country, given that it will allow it to “reverse a significant deficit in the energy trade balance and become a net energy exporter.”

M.Pino

Source: yahoonoticias

(Reference image source: KWON JUNHO in Unsplash)

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La entrada Petrobras and Enarsa sign an agreement on natural gas apareció primero en Bitfinance.

Petrobas announced this Monday an agreement with distributors to reduce the price of a cubic meter of natural gas by 8.1 % as of next May compared to the average value of the quarter between February and April.

The Brazilian oil company made this decision based on the variation in the price of the molecule and its transportation through pipelines. In turn, fluctuations in the Brent barrel and in the exchange rate are factors to be taken into account by both Petrobras and the distribution companies when updating the price of natural gas on a quarterly basis.

During the last quarter, oil fell in the order of 8.7 % and the exchange rate appreciated around 1.1 %. With this update, the price of natural gas sold by Petrobras to distributors will accumulate a reduction of approximately 19 % in the year.

However, this reduction will not be transferred directly to the final price paid by the consumer for natural gas, but this depends, in addition to the sale price set by the company, the supply portfolio of each distributor, their sales margins and the various federal and state taxes.

“The company points out that the update announced for the beginning of May does not refer to the price of liquefied cooking gas, bottled or sold in bulk”, Petrobras explained.

K. Tovar

Source: Notiamerica

(Reference image source: file)

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The government of the Monagas state, located in the East of Venezuela, announced during a recent event called Monagas Innova, that they will create bitcoin mining farms, in which surplus natural gas from oil fields will be used.

The objective behind this initiative is to promote sustainable mining in the crypto environment. Hence, the bitcoin mining farms will be fed with natural gas from oil fields, according to Richard Orea, who leads this project.

Monagas produces about 80 % of the natural gas that is consumed throughout the territory of the Caribbean country. However, currently, according to Orea, there is a surplus that can be used for cryptocurrency mining, through a strategic association with Coin Factory.

It was learned that the Coin Factory model is based on the rental of mining equipment to third parties (hosting) in special containers with the necessary characteristics for this activity.

Orea stressed that they seek to make bitcoin mining accessible to anyone, “hosting their machine in these containers.”

M.Pino

Source: criptohoy

(Photo: Image by PIRO, via Pixabay)

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