Daily Digest: February 5th, 2020

UK oilfield service (OFS) companies survived last year with a 2.3% increase in turnover but the pressure on prices is limiting real growth, according to a report by business consultancy EY. For that, they must embrace the opportunities offered by the energy transition, it said.

Estonia’s largest gas company Eesti Gaas suffered a 14% decline in gas sales in 2019, it reported on February 4.

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Video streaming creates an electricity demand that most Germans choose to ignore, according to a recent sample surveyed by Kantar on behalf of E.ON.

Adriatic LNG, the gravity-based import terminal off Italy’s northeast coast, saw its highest ever utilisation rate last year, as it completed ten years’ service, the operator said.  

Spanish gas and power company Naturgy saw a year of weak prices in LNG trade and European power, but growth in overseas activities and infrastructure, it reported.

Tunisia's prime minister Youssef Chahed announced the long-delayed launch of Nawara gas field. The field in the southern Tataouine region is operated by Austria’s OMV and Tunisia’s national oil company Etap.

US Secretary of State Mike Pompeo visited Belarus on February 1, offering to supply the country with as much oil and gas as it needs.

Marine logistics group CMA CGM Group has decided to use GTT's membrane containment technologies for its future 23,000 TFE (Twenty Foot Equivalent) LNG-powered container ships, it said.

Japanese shipping company NYK on January 31 concluded a contract with Shin Kurushima Dockyard Co. to build a second LNG-fuelled pure car and truck carrier (PCTC), it said February 3.

China’s state energy giants are examining whether they can invoke force majeures to temporarily terminate LNG import contracts, following a rapid decline in gas demand caused by Coronavirus outbreak, the Financial Times (FT) reported.

Jersey-registered New Age (African Global Energy) has signed a letter of intent (LoI)  with London-listed Victoria Oil & Gas on the supply of gas from the Etinde field it operates off the coast of Cameroon.

The World Bank, in an update released on January 30, expressed optimism about Mozambique's economic prospects from this year on. It said that work on the two huge LNG projects that start in earnest this year will help drive growth. 

Three US departments – energy, homeland Security and defence – have signed a memorandum of understanding (MOU) to partner on a new Energy Sector Pathfinder initiative, it was announced February 3.

Trinidad and Tobago has cancelled an agreement to jointly develop the 10-trillion ft3 Loran-Manatee gas field with Venezuela because of US sanctions, the Caribbean nation’s prime minister said at an energy conference on February 3, according to Reuters.