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In the business arena
In the business arena
Surprise agreement in July between Gazprom and Total to develop the Stokhman field.
Gazprom and Total. The Russian company had changed its mind several times on how to operate this field. The reserves at Stokhman are estimated at 3,700 bcm. Production will reach 71 bcm a year in phases 2 and 3, and could reach 94 bcm in phase four. The deposit is in the Barents Sea, and it is almost certain it will have a regasification plant to export gas in the form of LNG.Eni and Galsi. Eni signed an agreement with the Galsi consortium, which is in charge of construction of the gas pipeline of that name linking Algeria and Italy via Sardinia. This agreement will be implemented by the inauguration of the gas pipeline and all its connections to the Italian network, from 2012 onwards. The section from Algeria to Sardinia will be 900 Km long (2,800 metres under water). The pipeline will reach the island at Olbia, and its mainland destination will be Piombino, in Tuscany.
Iberdrola and National Grid. Iberdrola signed a contract with National Grid in the middle of the year, according to which it will have an annual regasification capacity of up to 2.75 bcm of gas in the United Kingdom.
Gas Natural acquired a gas group in Italy in September 2007, bringing to 178 the number of towns where it is operating in this country.
Gas Natural also has a holding with Repsol YPF and three foreign companies in a consortium with the Angolan national gas company Sonagol Gas Natural in order to activate an integrated gas project in Angola. Its proposed objectives are to evaluate the gas reserves, make the investment to develop them, and, if successful, to exploit them in the form of LNG. Annual
Report
07
Annual Report 2.007: Sedigas - The Spanish Gas Association