"Nord Stream" News

Germany to Charter Four FSRUs in Push to Cut Reliance on Russian Gas

May 05, 2022

The German government on Thursday signed agreements for the charters of four floating storage and regasification units (FSRUs), as it works to become less reliant on Russian gas, as FSRUs will enable it to import LNG from other sources.The agreements…

Gas Prices Help OMV Cushion Nord Stream 2 Impairments

Apr 29, 2022

Austrian oil and gas group OMV reported better-than-expected first-quarter results on Friday as higher market prices and gains across all units more than offset a hit from impairments related to the discontinued Nord Stream 2 project.OMV said its adjusted operating income grew to 2…

Sudden Cutoff of Russian Gas Would Cause Sharp Recession in Germany

Apr 13, 2022

Germany would face a sharp recession if gas supplies from Russia are suddenly cut off, the country's leading economic institutes said on Wednesday, and the government said the war in Ukraine poses 'substantial risks' for Europe's largest economy…

Nord Stream 2 Impairments Hit BASF's Q1 Income

Apr 11, 2022

German chemicals group reported preliminary first-quarter net income significantly below last year's level and analyst expectations on Monday, citing impairment charges for the abandoned Nord Stream 2 project.BASF said its quarterly net income slumped to 1…

Austria's OMV Takes $2.17B Hit from Russia Business

Apr 08, 2022

Austrian energy group OMV said on Friday it would take a 2-billion-euro ($2.17 billion) hit in the first quarter of this year from its business in Russia as it seeks to distance itself from the country after the invasion of Ukraine.Last month…

Russia's Gazprom Quits German Business Amid Crisis in Energy Ties

Apr 04, 2022

Russia's Gazprom said on Friday it was quitting its business in Germany at a moment of crisis in the vital energy ties between the two countries in the wake of Russia's invasion of Ukraine.The gas giant gave no details or explanation of its…

Russian Gas Deliveries to Europe Dip Slightly

Mar 23, 2022

Russian gas deliveries to Europe through the Nord Stream 1 pipeline across the Baltic Sea dipped slightly on Wednesday, while gas continued to flow eastwards from Germany into Poland along the Yamal-Europe pipeline.Flows to Germany through Nord Stream 1 stood at 65…

Nord Stream 1 Gas Pipeline Deliveries Dip In Line with Requests

Mar 17, 2022

Russian gas deliveries to Europe via the Nord Stream 1 pipeline declined from normal levels on Thursday but were in line with requests for gas, while the Yamal-Europe pipeline remained in reverse mode for a third consecutive day.Flows to Germany…

OMV to Spell Out Green Transition in Strategy Revamp

Mar 15, 2022

Austrian energy group OMV will turn the page from its embrace of Russia and could signal a gradual exit from its oil and gas business when it presents its strategy under new Chief Executive Alfred Stern on Wednesday.After Stern took over as CEO last year…

Naftogaz's CEO Calls for Nord Stream 1 Sanctions. Says Russian Gas Will Keep Flowing Through Ukraine

Mar 15, 2022

Russian gas will continue to flow to Europe through Ukraine as long as the operators of Ukraine’s gas networks are able to function, the head of Ukraine's state energy firm Naftogaz told Reuters on Monday.Russia is the European Union's top gas…

Russian Piped Gas Deliveries to Europe Stable

Mar 10, 2022

Russian piped gas deliveries into Germany via Nord Stream 1 and Poland and into Slovakia via Ukraine remained stable, pipeline operator data showed on Thursday.Flows through the Nord Stream 1 pipeline which crosses the Baltic Sea to Germany were steady at around 73…

Can Germany Keep Warm Without Russian Gas?

Mar 09, 2022

Russia said it could cut gas deliveries to Germany through the Nord Stream 1 pipeline amid rising tensions over the Ukraine crisis, disrupting a route that accounted for 60% of Russian gas supplies to Europe in the first two months of this year…

How Dependent is Germany on Russian Gas?

Mar 08, 2022

Russia has warned it may shut off its main Nord Stream gas pipeline to Germany after Berlin halted approval of a second line across the Baltic Sea in response to Russia's invasion of Ukraine.  The comment, from Russian deputy prime minister Alexander Novak…

Shell to Exit Russian Oil and Gas

Mar 08, 2022

Oil major Shell said Tuesday it would withdraw from its involvement in all Russian hydrocarbons, including crude oil, petroleum products, gas, and liquefied natural gas (LNG). The news follows Shell’s decision last week that it intends to end…

Wintershall Dea Writes Off $1.1B Nord Stream 2 financing

Mar 02, 2022

German oil and gas firm Wintershall Dea, one of the five co-funders of Nord Stream 2, on Wednesday said it is writing off its 1 billion euros ($1.11 billion) financing in the gas pipeline that was suspended last week.The management board of…

Current News

Liberty Green Creates Offshore Wind Consortium

Liberty Green Creates Offshore Wind Consortium

Equinor Spuds First of Two Offshore Wells in Canada's Flemish Pass

Equinor Spuds First of Two Offshore Wells in Canada's Flemish Pass

Crew Transfer Vessel-maker Strategic Marine Orders 50 Caterpillar Engines Citing Supply Chain Chaos

Crew Transfer Vessel-maker Strategic Marine Orders 50 Caterpillar Engines Citing Supply Chain Chaos

Westwood: Offshore Drilling Rig Utilization Much Higher Than Typically Reported

Westwood: Offshore Drilling Rig Utilization Much Higher Than Typically Reported

Subscribe for OE Digital E‑News

Offshore Engineer Magazine