Turkey and Azerbaijan signed a long-awaited agreement to allow the transit of some 10 billion cubic meters of Azeri natural gas to Europe, resolving one of the final obstacles to the opening of a southern corridor to allow gas to flow from the Caspian region to the EU.

The biggest problem companies in India and neighboring countries face today is electricity. In every South Asian country, except Bhutan and the Maldives, medium-size urban companies consider it one of the top two constraints.

Tension over disputed natural gas fields in the eastern Mediterranean has sharpened in recent days with Turkey sending a second exploration ship to Cyprus while Israel, feuding with Turkey, held air force exercises.

Eni, Italy’s biggest energy company, increased significantly the natural gas it discovered offshore Mozambique, only a week after announcing the giant discovery. Eni said the discovery of gas in the Mamba South area is about 50% more than announced Oct. 20, as the exploratory well revealed a separate pool with a potential of up to 7.5 trillion cubic feet of gas.

Ukraine’s recent progress toward a natural gas price agreement with Russia means security for European supplies, Ukrainian Prime Minister Mykola Azarov says.

Analysis of drilling and test data from 14 wells drilled since the 1950s has indicated the presence of a world class shale gas play in the Basque Country of northern Spain. Of 14 wells that penetrated the Cretaceous shale, 10 tested for gas.

Iran aims to gain a stronger foothold in the Asian energy market by exploring options for liquefied natural gas. Mohsen Qamsari, director of international affairs at the National Iranian Oil Co., said “We must try to gain control of Indian and Chinese LNG markets, which are close to our country and account for 45 percent of LNG consumption in the world.”

 

with h/t Tom Whipple