News in Numbers

8 billion 

Energean’s new Athena exploration well drilling has resulted in the discovery of eight billion cubic metres of natural gas. 


Shell’s Q1 2022 profits surged to over $9bn as oil and gas prices have soared. 

105 miles

Genesis Energy plans to build a new 105-mile pipeline to connect assets in the Gulf of Mexico. 


Petro Rio has agreed to acquire a 90% stake in the Albacora Leste field from Petrobras for $2.2bn. 


TotalEnergies has announced an interim dividend of $0.73 per share for 2022, up 5% on 2021. 

Project updates

Lithuania and Poland have formally commissioned the new gas pipeline connecting the two Baltic states and Finland to the EU’s single gas network. Built with an investment of $528.4m (€500m), the new Poland-Lithuania Gas Connector pipeline is expected to help the region reduce its dependence on Russian gas. 

German energy major Uniper has made an agreement with German authorities to build the country’s first liquefied natural gas terminal to reduce its reliance on Russian gas. The decision was announced at a press conference attended by German Federal Minister Robert Habeck and the Lower Saxony Ministers Olaf Lies and Bernd Althusmann. 

Read more

Wintershall Dea has agreed to acquire an additional 11.25% participating interest in the Reggane Nord natural gas project in Algeria from Edison International for an undisclosed sum. Following the completion of the deal, Wintershall Dea will own a 30.75% stake in GRN.

Read more

Brazil’s Petrobras and its partners have started production from the first development phase of the Mero field in the Libra block offshore Brazil. The Libra block is located more than 150km off the coast of Rio de Janeiro in the prolific pre-salt area of the Santos Basin. 

Read more

Further Reading

Four European companies make gas payments to Russia in rubles 

Four gas buyers in Europe have made gas payments to Russia in rubles, as demanded by President Vladimir Putin, reported Bloomberg News, citing a person close to Russia’s energy company Gazprom PJSC. 

Last month, Putin demanded that countries “unfriendly” to Russia open accounts with state-controlled Gazprombank to pay for Russian gas in rubles. 

In accordance with the order, the 10 undisclosed European companies have opened euro and ruble accounts with Gazprombank to make payments. The latest development comes a day after Russia said it terminated gas supplies to Poland and Bulgaria after they refused to make gas payments in rubles. 

Read more: Offshore Technology