Weekly HEG Global Energy Digest


Gazprom Neft, Shell to create JV to develop license blocks in Yamal

Total reserves in place at fields to be owned by the Meretoyakhaneftegaz JV will be nearly 1.1 billion tonnes of oil

Russian oil company Gazprom Neft has agreed to form a joint venture (JV) with Royal Dutch Shell, called Meretoyakhaneftegaz, to exploit 1.1 billion tonnes of oil reserves contained in the Yamal Peninsula in northwest Siberia.

The two companies have signed all required legal documents on a sale and purchase agreement for a 50% interest in Meretoyakhaneftegaz.

Currently, Meretoyakhaneftegaz owns licensing rights to the Meretoyakhinskoye field.

Article Source: https://www.energymarketprice.com/energy-news/gazprom-neft–shell-to-create-jv-to-develop-license-blocks-in-yamal


France awards 516 MW of onshore wind in latest tender round

The French government has selected 516 MW of winning projects in its third onshore wind tender, it announced on Wednesday.

The procurement round will facilitate the installation of 150 new wind turbines with an expected output of around 1.34 TWh per year, which will be enough to meet the demand of about 268,000 households. The machines will be powering 21 wind farms, the environment and energy ministry said on Wednesday.

The average bid price in the tender round stood at EUR 63 (USD 71.2) per MWh, which represents a decrease from the EUR 65.4/MWh and EUR 68.7/MWh in the first and second rounds, respectively. Winners will be awarded 20-year feed-in premium contracts.

France aims to cover 32% of its energy demand with renewable sources by 2030.

Article Source: https://www.energymarketprice.com/energy-news/france-awards-516-mw-of-onshore-wind-in-latest-tender-round

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