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MOL closes acquisition of Chevron’s assets in Azerbaijan
20 Apr 2020Chevron has closed the sales of its non-operated exploration and production (E&P) and midstream assets in Azerbaijan to the Hungarian oil and gas company MOL, after it received government and regulatory approvals. The two companies had agreed on the transaction in November 2019 for a total consideration of US$1.57bn.
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Argentina is expected to add almost 700 MW of solar capacity in 2020
20 Apr 2020According to the Argentinian electricity market regulator CAMMESA, eight solar parks with a combined capacity of over 669 MW will enter operations in 2020. This includes the 300 MW Cauchari project, which was awarded to Jujuy Energía Minería Sociedad del Estado (JEMSE) in 2016 under the framework of Argentina’s first renewable tender. The solar park has received US$390m in financing from the Eximbank of China and is built by a consortium between Chinese companies Shanghai Electric and Power China in the province of Jujuy. The project is expected to be commissioned in May 2020.
Read moreForecasts
Indonesia reduces its 2020 oil and gas production outlook
20 Apr 2020According to SKK Migas, which regulates upstream activities in Indonesia, oil and gas production will decrease by around 3% in 2020 to 725,000 bbl/d of crude oil and 5,727 mcf/d (162 mcm/d or 59 bcm/year) of gas. Consequently, the regulator forecasts that hydrocarbon revenues will decrease by more than 40%, from US$32bn in 2019 to US$19bn in 2020.
Read moreInfrastructure & Investments
AES Gener plans 1.6 GW of renewable projects in Chile and Colombia
20 Apr 2020The shareholders of the Chilean power company AES Gener have approved a US$500m capital increase in the company; the US AES Corporation, which owns a 66.7% stake, will participate in the operation in proportion to its stake (U$335m). This capital increase will help to AES Gener invest US$1.8bn to develop 1,600 MW of wind and solar power projects in Chile and Colombia.
Read moreVattenfall signs grid connection deal for Dutch offshore wind project
20 Apr 2020Vattenfall has signed an agreement with the Dutch power transmission system operator (TSO) TenneT for the offshore grid connection for the 750 MW Hollandse Kust Zuid 3 & 4 offshore wind project in the Netherlands (two 375 MW wind parks). The project is the second phase of the 1.4 GW Hollandse Kust Zuid offshore wind project that Vattenfall is currently building in the Dutch part of the North Sea.
Read moreRosatom completes hot tests at Ostrovets-1 nuclear project in Belarus
20 Apr 2020Russian state-held nuclear company Rosatom has completed hot tests at the Ostrovets-1 nuclear reactor in Belarus, paving the way for commissioning. The objective was to confirm the compliance of the nuclear island’s systems and equipment with the reactor’s design characteristics. The next step is an audit of equipment of the first and second circuits of the reactor facility, which is scheduled to be completed in mid-June 2020. Commissioning is expected by end-2020.
Read moreNew court hurdle for Keystone XL oil pipeline project (US)
20 Apr 2020The District Court of Montana (United States) has cancelled a nationwide permit issued by the US Army Corps of Engineers in 2017 and allowing the Keystone XL Pipeline project – and other pipeline projects – to cross water bodies. Though TC Energy, the developer of the US$8bn pipeline project, will be able to continue construction works at the Canada-US border, it will need the permit for most of the pipeline route.
Read moreShell takes FID on US$6.4bn Surat gas project (Australia)
20 Apr 2020Shell has taken a final investment decision (FID) to develop the first phase of Arrow Energy’s AUD10bn (US$6.4bn) Surat Gas Project in Queensland (Australia), which would bring up to 90 bcf/year (2.5 bcm/year) of new gas to market at peak production. The project is being developed by a 50-50 joint venture between Shell and PetroChina named Arrow Energy and will feed Shell’s affiliate QGC, which operate the 8.5 Mt/year Queensland Curtis LNG plant on Curtis Island. Construction of the Surat gas project will start in 2020 and its first gas sales are expected in 2021.
Read morePolicy & Regulatory
Massachusetts (US) doubles its solar support programme to 3.2 GW
17 Apr 2020The state of Massachusetts (United States) has published an emergency regulation with immediate effect to its Solar Massachusetts Renewable Target (SMART) programme. The new regulation doubles the solar capacity supported by the programme from 1.6 GW to 3.2 GW and mandates the addition of energy storage on projects over 500 kW. New applications will start on 18 May 2020. Under the programme, solar projects in the state receive fixed rate payments for the electricity they generate within the framework of 10-year agreements.
Read moreUzbekistan lauches a 100 MW wind tender
17 Apr 2020The government of Uzbekistan has launched a tender for a 100 MW wind power project in the Qorao’zak district of Karakalpakstan region. The project be developed with the support of the European Bank for Reconstruction and Development (EBRD). Interested parties can submit an expression of interests by 13 May 2020. The authorities aim at creating a larger wind project in the area with a total capacity of 300 MW, and will launch a second tender for 200 MW soon.
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