According to data from Gascade, the Yamal-Europe pipeline, which normally sends Russian gas westward into Europe, was flowing east from Germany towards Poland for the 13th consecutive day on Sunday. This pipeline is an important route for Russian gas exports into Europe.
@Share_Talk highlighting since 21st Dec #Gas flows along the #Russian Yamal-Europe pipeline to #Europe remained reversed for a 12th-day #UK Mainstream media outlets are still NOT reporting/highlighting? https://t.co/nHHwhgEY6r https://t.co/0ZqZwbGVrd pic.twitter.com/Po76HpmMkM
— Share_Talk ™ (@Share_Talk) January 1, 2022
Germany shut down on Friday half of the six nuclear plants that it still has in use, one year before it draws the curtain on its decades-long reliance on atomic power.
These three reactors, now being shut down, were originally powered up in the mid-1980s. They provided electricity for nearly four decades to millions of German homes.
In 2021, Germany generated almost 46% of its electricity from renewable energy sources. According to the Fraunhofer Institute, coal accounted for more than 51% and nuclear power for over 13%.
Lansdowne Oil & Gas plc (AIM: LOGP), The Company has entered into an agreement with LC Capital Master Fund (“LCCMF”) to extend the payment date of its outstanding loan of £1.028 million (the “Loan”) currently due for repayment on 31 December 2021.
Further, as part of LCCMF’s agreement to the Loan Extension, the Company has agreed to certain amendments to the warrants to subscribe for up to 26 million new ordinary shares in the Company that were granted to LC Capital Targeted Opportunities Fund LP (“LCCTOF” and, together with LCCMF, “LC Capital”) in December 2020 as part of a previous extension of the Loan (the “Existing Warrants”). The Existing Warrants have an exercise price of 1.2p/warrant and expiry date of 31 December 2021.
Savannah Energy PLC (AIM: SAVE) announced the publication of an AIM Admission Document (the “Admission Document”) in respect of the Exxon Acquisition and the PETRONAS Acquisition as defined in its announcements of 13 December 2021.
Restoration to trading and commencement of dealings, on AIM of the Company’s existing Ordinary Shares, will become effective at 8.00 a.m. today. The Admission Document is available to download from the Company’s website in accordance with the AIM Rules: www.savannah-energy.com.
Mosman Oil and Gas Limited (AIM: MSMN) confirms that the Notice of Annual General Meeting has been sent to shareholders. The Annual General Meeting will be held at 10.00 am (AEDT) on 28 January 2022 at Suite 305, Level 3, 35 Lime Street, Sydney NSW 2000 Australia.
The Notice of Meeting details two Resolutions which include a notice of an intended share consolidation on the terms and indicative timetable as per the explanatory memorandum attached to the Notice of Meeting.
Prospex Energy PLC, (AIM: PXEN) provided an update on the El Romeral power plant in southern Spain (‘El Romeral’) which is currently providing a very healthy income from selling electricity into the spot market in Spain at record levels.
The Company holds a 49.9% working interest in El Romeral through its interest in Tarba Energía (‘Tarba’).
Mark Routh, Prospex’s CEO, commented: “This loan repayment by Tarba Energía to its two shareholders is 40% of the €750,000 acquisition cost of El Romeral. With electricity spot prices at an all-time high and the forward curve looking extremely robust, I am confident that Tarba can comfortably make further loan repayments up to its shareholders over the coming year. This means that Prospex is likely to be generating a net income towards its overheads and operating costs, something which will sit very well with shareholders and potential investors alike.”
ATOME Energy (AIM: ATOM), the international company focused on green hydrogen and ammonia production, sales and marketing with current projects in Iceland and Paraguay, announced that its entire issued ordinary share capital will be admitted to trading on the AIM market of the London Stock Market (“Admission”). Dealings commenced at 8:00 a.m, Thursday 30 December 2021, under the ticker “ATOM” (ISIN: GB00BP4BSM10).
ATOME, as the first and currently only company solely focusing on being a producer of green hydrogen and ammonia to have its shares traded on the London Stock Market, offers investors access not only to potential upstream manufacturing of green hydrogen and ammonia but also through its established in-country contacts and shareholder base to the all-important downstream offtake market.
According to data from Gascade, the Yamal-Europe pipeline which normally delivers Russian gas to Western Europe was sending fuel back to Poland for a ninth consecutive day on Wednesday.
Data showed that flows from the Mallnow metering station on the German-Polish border were flowing eastward into Poland at an hourly rate of almost 1.2 million kilowatt-hours (kWh/h) Wednesday morning. This was on par with flows over the past 24 hours.
Cargo ships diverted gas from China to the UK; As Europe is still under major supply constraints, huge cargo ships carrying liquid fuel from China have changed their course and are heading to the UK.
Despite the fact that ships have been drawn away from other parts of the world by the Continent’s high energy prices and energy crisis, new arrivals are bringing down prices.
Last week, the UK’s gas price soared to an all-time high of 470p per unit. This was up from 50p in April. However, it has fallen to below 270p.
United Oil & Gas PLC (AIM: UOG), announced an update on the drilling of the Al Jahraa-13 development well (“AJ-13”) in the Abu Sennan licence, onshore Egypt.
The AJ-13 well, which is a follow up to the successful Al Jahraa-8 well, safely reached a TD of 3,840m, several days ahead of schedule and under budget. The well has been logged and interpreted to have encountered 17.5m of net oil pay across the Upper and Lower Bahariya reservoir targets, in line with the range of pre-drill expectations.
The well will be tested and completed in the coming days and will then be brought immediately onstream through the existing Al Jahraa facilities, adding additional production and revenue for the Company.
The AJ-13 well is the fifth and final well in the Abu Sennan 2021 drilling programme before the 2022 drilling programme begins.
Sound Energy (AIM: SOU) announced the entry of binding conditional agreements in respect of a US$18 million Phase 1 Tendrara LNG Development loan note financing and that, with the other remaining conditions precedent to the Phase 1 LNG gas sales agreement announced by the Company on 29 July 2021 (the “LNG GSA”) now waived by the parties, the LNG GSA is now unconditional.
In satisfying the final material condition precedent to the LNG GSA, the Company has entered into agreements with Afriquia Gaz S.A. (the “Lender”) in respect of an US$18 million 6% secured loan note maturing in December 2033 (the “Loan”).
Brent crude oil traded at $80 per barrel on Tuesday, despite the rapid spread of the Omicron coronavirus variant. This was supported by supply shortages and expectations that U.S. inventories will fall this week.
Brent crude oil rose 1.3% to $79.64 per barrel or $1.04 by 1119 GMT. U.S. West Texas Intermediate crude (WTI), rose $1.15 or 1.5% to $76.72. Both contracts were at their highest point in a single month.
We close with the story we have covered since the 21st December, according to data from Gascade, the Yamal-Europe pipeline that normally delivers Russian gas to Western Europe was sending fuel back to Poland on Monday for a seventh consecutive day.
Data showed that flows from the Mallnow metering station on the German-Polish border were flowing eastward into Poland at an hourly rate of almost 1.2 million kilowatt-hours (kWh/h) Monday morning.
Russian President Vladimir Putin stated last week that Germany was selling Russian gas to Ukraine and Poland rather than relieving an overheated marketplace. He blamed German gas importers for the reverse and skyrocketing prices.
The German Economy Ministry declined to comment on Putin’s remarks. Reuters has not received any comment from gas importers.
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