Italy and Greece have reached an agreement for the demarcation of their maritime boundaries.
The deal signed in Athens this week meets the international law, the United Nations Convention
on the Law of the Sea and tackles an issue that had been pending for more than four decades.
The agreement sets out the maritime area between Italy and Greece in which a country has the
right of energy exploration, the use of marine resources and fishing rights.
Greek Foreign Minister Nikos Dendias has declared: “Today is a historic day. This is an important
development, given that the previous agreement dates from 1977”.

The energy company Eni gas e luce has completed the acquisition of a start-up born in 2019 called
Tate.
Tate is active in the delivery of electricity and gas exclusively online and through its mobile
application.
With this acquisition, the company aims to grow in the digital sector and conquer the Millennials
which currently count more than 13 million people in Italy.
Eni gas e luce owns now 20% of Tate srl.
This acquisition represents a sign of “open innovation” for the company.

Due to the coronavirus epidemic and its impact on the oil&gas industry and subsequent price decline,
Lebanon has decided to postpone the deadline for its 2nd offshore licensing round for the third time.
There is no new date for the next round yet but it is expected to take place before the end of 2021.

Italgas has officially been awarded a 12-year concession for the distribution of natural gas in the
Belluno district.
The project includes an investment of about 135 million euro with the aim to extend the network
for over 300 kilometres and increase the service from 47 thousand to about 85 thousand users. This
way, 17 new municipalities will be methanized with new infrastructures.
Italgas’ plan is also the improvement of the quality, safety and energy efficiency on over 60 public
buildings.
The investment will generate significant job opportunities in the Belluno area and a boost in the
local economy.

The independent financial group Green Arrow Capital (GAC) based in Milan and Rome is about to
acquire biomethane plants for 75 million Euro.
The transaction is part of a deal that includes the purchase of six plants from a Lombardy-based
Biomethane production plant system owned by Lazzari & Lucchini, which will remain the main
shareholder.
Daniele Camponeschi from Green Arrow Capital is very satisfied with the deal. He has said: “This
deal allows Green Arrow Capital to enter into an innovative, strategic and also new sector for our
funds, where we plan to strengthen our presence, also thanks to our consolidated leadership in
renewables.”

Saipem has signed a two-year frame agreement with Norvegian company Equinor covering
engineering services worldwide.
The contract also includes new energy-related projects in the on/offshore and floating wind
sectors.
According to Saipem’s E&C Offshore Division COO Francesco Racheli: “This new agreement with
Equinor, a leading player in the energy industry, consolidates a long and successful relationship
and co-operation”.
The two companies have been collaborating in the transportation and subsea construction fields
for over ten years.

According to Alberta’s Energy Minister Sonya Savage, it is now a great time to go ahead with the
construction of the Trans Mountain pipeline. Indigenous groups and environmentalists would find
it difficult to arrange for protests with all the social distancing measures in place.
Savage went on to say, “People need jobs, and those types of ideological protests that get in the
way are not going to be tolerated by Canadians.”
The multi-billion-dollar project will transport oil from Edmonton to the Vancouver area.
It is an expansion of an old pipeline which is expected to triple the current capacity to 890,000 per
day.

Eni has launched an updated platform for its suppliers as a common space for the company’s
energy transition. Particular attention was given to usability in an attempt to make it more
accessible.
The four sections gathered into the portal are called “JUST” (Join Us in a Sustainable Transition),
“Business Opportunities” (for the continuous search of business collaborations), “Innovation
Match” (to share new and sustainable ideas and solutions), and Agorà (the virtual market square
where the best experiences can be shared).

The US President has threatened Repsol with “devastating” sanctions if the Spanish company
doesn’t stop pumping and selling oil in Venezuela.
This type of threat came up already in February when the U.S. State Department for Venezuela
asked Repsol to change its businesses in the country.
Repsol replied that it will continue to comply with the law and the established embargoes.
Repsol’s employed capital in Venezuela is of 270 million dollars (1%) and 50,000 barrels (7% of
total production).
The threat comes after the White House already banned Chevron from drilling oil in Venezuela.

Denmark, who has committed to become carbon neutral by 2050, is planning to build two huge
“energy islands” totalling 4GW of offshore wind capacity (2GW each). This to reduce emissions by
70% in a decade and double the nation’s current offshore wind capacity.
The project, which needs to be approved by the parliament, aims to generate more electricity than
Danish households’ annual consumption and it is likely that the country will export its green power
to neighbouring European countries as well.
According to the experts, one energy hub will be built on an artificial island in the North Sea the
second on the Danish island of Bornholm in the Baltic Sea.