Government officials in Italy and Greece have approved an environmental impact statement for part of the Trans-Adriatic Pipeline, which will carry gas from the BP-operated Shah Deniz Phase II field in the Caspian Sea to Europe.
The pipeline will extend 870 km (543 miles) including a deepwater crossing of the Adriatic Sea at a depth of up to 870?m (2,850 ft), and will connect with the Trans-Anatolian Pipeline to take gas from Shah Deniz Phase II offshore Azerbaijan.
Italy’s Minister of Environment, Gianluca Galletti, signed a decree of environmental compatibility for the project and Greece’s Ministry of Environment, Energy and Climate Change has also given its formal approval.
Recommended Reading
Imperial Expects TMX to Tighten Differentials, Raise Heavy Crude Prices
2024-02-06 - Imperial Oil expects the completion of the Trans Mountain Pipeline expansion to tighten WCS and WTI light and heavy oil differentials and boost its access to more lucrative markets in 2024.
What's Affecting Oil Prices This Week? (Feb. 5, 2024)
2024-02-05 - Stratas Advisors says the U.S.’ response (so far) to the recent attack on U.S. troops has been measured without direct confrontation of Iran, which reduces the possibility of oil flows being disrupted.
McKinsey: US Output Hinges on E&P Capital Discipline, Permian Well Trends
2024-02-07 - U.S. oil production reached record levels to close out 2023. But the future of U.S. output hinges on E&P capital discipline and well-productivity trends in the Permian Basin, according to McKinsey & Co.
Veriten’s Arjun Murti: Oil, Gas Prospectors Need to Step Up—Again
2024-02-08 - Arjun Murti, a partner in investment and advisory firm Veriten, says U.S. shale provided 90% of global supply growth—but the industry needs to reinvent itself, again.
Venture Global, Grain LNG Ink Deal to Provide LNG to UK
2024-02-05 - Under the agreement, Venture Global will have the ability to access 3 million tonnes per annum of LNG storage and regasification capacity at the Isle of Grain LNG terminal.