Connection

popular articles

Arctech secures a 2.3 GW solar project in Saudi Arabia, surpassing 15 GW in the MEA region
Mainstream sells 675 MW of wind and solar projects to Celsia in Colombia
Engie strengthens its position in Brazil with a major victory in the 2024 transmission auction
The United States Suspends New Energy Efficiency Standards for Key Household Appliances
The World Bank anticipates a historic drop in oil prices in 2025

Orca Energy repays its 60 million USD loan and signs a gas agreement in Tanzania

Orca Energy Group has fully repaid a 60 million USD loan from the International Finance Corporation (IFC) and signed an agreement with the Tanzania Petroleum Development Corporation (TPDC) and Tanzania Portland Cement Company (TPCC) for additional gas supply to the Wazo Hill plant in Tanzania.
  • [favorite_button]

Please share:

Orca Energy Group Inc. announced that it has fully repaid its 60 million USD loan, which was originally secured in 2015 from the International Finance Corporation (IFC) to support the development of the Songo Songo gas field in Tanzania. The repayment, which was completed on February 21, 2025, covers the outstanding principal, accrued interest, and other amounts owed. This marks the conclusion of a multi-year financial partnership between the two entities.

Gas agreement with TPDC and TPCC

Simultaneously, Orca’s operational subsidiary, PanAfrican Energy Tanzania Limited (PAET), signed a new agreement with the Tanzania Petroleum Development Corporation (TPDC) and Tanzania Portland Cement Company Limited (TPCC). This agreement aims to provide additional gas to the Wazo Hill cement plant. A previous contract had been established in 2008 for the plant’s gas supply, including protected gas from TPDC and additional gas from PAET.

Transition from protected gas to additional gas

As the protected gas supply is set to expire on July 31, 2024, PAET and TPCC negotiated a supplementary agreement to increase gas volumes to the plant and compensate for the termination of the protected gas. This new agreement, effective from August 1, 2024, allows TPCC to benefit from competitive gas pricing, combining the conditions of both contracts. Although the Tanzania Petroleum Development Corporation (TPDC) initially opposed the agreement, a compromise was reached in January 2025.

Legal dispute in Tanzania

Additionally, Orca Energy Group received a ruling from the Tanzanian Commercial Court regarding a claim made by a contractor following the termination of a seismic acquisition programme contract. The court ordered PAET to pay 23.1 million USD in damages, along with legal fees, and an annual interest rate of 7%. PAET is contesting the decision and is preparing to appeal. The company plans to provide a guarantee for the full amount of the judgement while awaiting the outcome of the appeal.

Register free of charge for uninterrupted access.

Publicite

Latest news

India’s coal-fired electricity generation drops 9.5% in May, steepest decline in five years
Pine Gate signs 586 MW deal with Waaree for US-made solar modules
CIB grants $97mn loan for Wedgeport Wind Farm in Nova Scotia
NANO Nuclear strengthens its board with former U.S. Department of Energy official
US crude oil inventories fall by 4.3 million barrels

Recently published in

Equinor signs €24 billion gas supply deal with Centrica through 2035

Norwegian group Equinor has sealed a gas supply deal with Centrica, covering nearly 10% of the United Kingdom’s annual demand over ten years.
MCF Energy announces progress on Kinsau-1A well development in Germany
MCF Energy Ltd. has provided an operational update on the Kinsau-1A well in Lech, Germany, indicating significant progress in preparing drilling operations for the third quarter of 2025.
en_1140290991540
MCF Energy announces progress on Kinsau-1A well development in Germany
MCF Energy Ltd. has provided an operational update on the Kinsau-1A well in Lech, Germany, indicating significant progress in preparing drilling operations for the third quarter of 2025.
en_1140290991540
Basin Electric secures 265 MW of capacity through 15-year deal with Panamint Capital
Basin Electric Power Cooperative signed a 15-year power supply contract with Panamint Capital for the full output of the Cottage Grove power plant starting in December 2027.
en_1140290971540
Basin Electric secures 265 MW of capacity through 15-year deal with Panamint Capital
Basin Electric Power Cooperative signed a 15-year power supply contract with Panamint Capital for the full output of the Cottage Grove power plant starting in December 2027.
en_1140290971540
New Zealand Energy Corp reports Q1 2025 financial results
New Zealand Energy Corp. (NZEC) reported its financial results for the first quarter of 2025, posting a net loss of $994,550 while focusing on production recovery and gas storage development projects.
en_1140290974540
New Zealand Energy Corp reports Q1 2025 financial results
New Zealand Energy Corp. (NZEC) reported its financial results for the first quarter of 2025, posting a net loss of $994,550 while focusing on production recovery and gas storage development projects.
en_1140290974540

Hull Street Energy strengthens presence in Illinois with J-Power asset acquisition

Hull Street Energy has finalised the acquisition of electricity generation assets from J-Power USA near Joliet, consolidating its Milepost Power fleet to nearly 3,500 MW of installed capacity.
ONEOK completes acquisition of remaining 49.9% in Delaware Basin JV for $940mn
Energy company ONEOK has acquired full ownership of Delaware Basin JV, consolidating its natural gas gathering and processing assets in the Permian Basin for a total amount of $940mn.
en_1140290944540-4
ONEOK completes acquisition of remaining 49.9% in Delaware Basin JV for $940mn
Energy company ONEOK has acquired full ownership of Delaware Basin JV, consolidating its natural gas gathering and processing assets in the Permian Basin for a total amount of $940mn.
en_1140290944540-4
Washington revives $44 billion Alaska pipeline project to attract Asian partners
The Trump administration is seeking Asian partners to advance a $44 billion Alaska pipeline project aimed at exporting liquefied natural gas to the Indo-Pacific region.
en_1140290950540-4
Washington revives $44 billion Alaska pipeline project to attract Asian partners
The Trump administration is seeking Asian partners to advance a $44 billion Alaska pipeline project aimed at exporting liquefied natural gas to the Indo-Pacific region.
en_1140290950540-4
Gunvor integrates PureWest’s low-carbon natural gas into global supply portfolio
Gunvor USA and PureWest Energy partner to deliver certified low-carbon gas backed by traceability technology and aligned with international standards.
en_1140290962540-2
Gunvor integrates PureWest’s low-carbon natural gas into global supply portfolio
Gunvor USA and PureWest Energy partner to deliver certified low-carbon gas backed by traceability technology and aligned with international standards.
en_1140290962540-2

ExxonMobil commits to unconventional resource development in Azerbaijan

ExxonMobil has signed a memorandum of understanding with state-owned Socar to explore unconventional oil and gas resources in central Azerbaijan, strengthening its long-standing presence in the Caspian Sea region.
Gas injections in Europe exceed 0.5 bcm, a first since 2022
European Union gas reserves are progressing slowly as LNG imports reach an all-time high in May, amid supply tensions and rising prices.
en_1140290949540-3
Gas injections in Europe exceed 0.5 bcm, a first since 2022
European Union gas reserves are progressing slowly as LNG imports reach an all-time high in May, amid supply tensions and rising prices.
en_1140290949540-3
Russian gas deliveries to Europe via TurkStream rise 10% in May
Gazprom increased its daily natural gas exports to Europe via the TurkStream subsea pipeline, reaching 46 million cubic metres per day in May, according to Reuters calculations.
en_1140290953540-2
Russian gas deliveries to Europe via TurkStream rise 10% in May
Gazprom increased its daily natural gas exports to Europe via the TurkStream subsea pipeline, reaching 46 million cubic metres per day in May, according to Reuters calculations.
en_1140290953540-2
Naftogaz secures €36.4mn loan to upgrade drilling equipment
Naftogaz will fund the purchase of new drilling platforms through a €36.4mn loan from the European Bank for Reconstruction and Development, following a sharp decline in gas production due to Russian strikes.
en_1140290956540-2
Naftogaz secures €36.4mn loan to upgrade drilling equipment
Naftogaz will fund the purchase of new drilling platforms through a €36.4mn loan from the European Bank for Reconstruction and Development, following a sharp decline in gas production due to Russian strikes.
en_1140290956540-2

Natural Gas: A Competitive Energy Solution Compared to Renewables Through CCS

Natural gas combined with carbon capture achieves emission levels comparable to wind and solar power, positioning itself as an economical alternative to renewables despite intermittency and high battery storage costs.
Flex LNG secures $175 mn lease financing for Flex Courageous vessel
Flex LNG has finalised a $175 mn lease financing for its Flex Courageous vessel, generating $42 mn in net proceeds as part of a financial restructuring plan announced earlier this year.
en_1140290943540-18
Flex LNG secures $175 mn lease financing for Flex Courageous vessel
Flex LNG has finalised a $175 mn lease financing for its Flex Courageous vessel, generating $42 mn in net proceeds as part of a financial restructuring plan announced earlier this year.
en_1140290943540-18
Port Arthur LNG Phase 2 project receives export authorisation to non-FTA countries
Sempra Infrastructure has received approval from U.S. authorities to export 13.5 Mtpa of liquefied natural gas to countries without free trade agreements, marking a key step in developing the Port Arthur LNG Phase 2 terminal.
en_1140290962540
Port Arthur LNG Phase 2 project receives export authorisation to non-FTA countries
Sempra Infrastructure has received approval from U.S. authorities to export 13.5 Mtpa of liquefied natural gas to countries without free trade agreements, marking a key step in developing the Port Arthur LNG Phase 2 terminal.
en_1140290962540
EOG Resources acquires Encino for $5.6bn and strengthens its Utica footprint
EOG Resources finalises a $5.6bn acquisition of 675,000 net acres from Encino Acquisition Partners, consolidating its strategic position in the Utica formation and increasing its dividend by 5 %.
en_1140290946540
EOG Resources acquires Encino for $5.6bn and strengthens its Utica footprint
EOG Resources finalises a $5.6bn acquisition of 675,000 net acres from Encino Acquisition Partners, consolidating its strategic position in the Utica formation and increasing its dividend by 5 %.
en_1140290946540

Natural gas demand for power generation drops in the United States in May 2025

In May 2025, natural gas demand for electricity generation in the United States declined, influenced by cooler weather conditions and a significant increase in solar generation.
Cheniere signs 15-year deal with Canadian Natural to support Sabine Pass
Cheniere has signed a long-term gas supply agreement with Canadian Natural Resources to support the planned expansion of its Sabine Pass liquefaction terminal in Louisiana from 2030.
en_1140290948540-16
Cheniere signs 15-year deal with Canadian Natural to support Sabine Pass
Cheniere has signed a long-term gas supply agreement with Canadian Natural Resources to support the planned expansion of its Sabine Pass liquefaction terminal in Louisiana from 2030.
en_1140290948540-16
Cnooc plans dry dock for its LNG bunker barge in July
Cnooc will immobilise its Hai Yang Shi You 301 barge in July, temporarily reducing LNG bunkering capacity in China, where only five units handle supply.
en_1140290957540-16
Cnooc plans dry dock for its LNG bunker barge in July
Cnooc will immobilise its Hai Yang Shi You 301 barge in July, temporarily reducing LNG bunkering capacity in China, where only five units handle supply.
en_1140290957540-16
Baghdad Challenges Kurdistan’s Gas Contracts with American Companies
The Iraqi federal government initiates legal proceedings against the autonomous region of Kurdistan regarding gas contracts signed with American companies, while Washington reaffirms its support for these strategic energy agreements.
en_1140290951540-15
Baghdad Challenges Kurdistan’s Gas Contracts with American Companies
The Iraqi federal government initiates legal proceedings against the autonomous region of Kurdistan regarding gas contracts signed with American companies, while Washington reaffirms its support for these strategic energy agreements.
en_1140290951540-15

China Adopts Henry Hub Indexation in American LNG Contracts

Several Chinese companies have signed long-term contracts to purchase liquefied natural gas indexed to the U.S. Henry Hub, despite heightened trade tensions and the recent application of specific tariffs on American hydrocarbons.
Jereh deploys AI-powered fracturing platform in Sichuan
Jereh integrates artificial intelligence solutions into its oil operations, increasing fracturing efficiency by 36% through an autonomous electric system tested in the Sichuan Basin.
en_1140290963540-7
Jereh deploys AI-powered fracturing platform in Sichuan
Jereh integrates artificial intelligence solutions into its oil operations, increasing fracturing efficiency by 36% through an autonomous electric system tested in the Sichuan Basin.
en_1140290963540-7
Australia Extends North West Shelf Gas Project Operations by 40 Years
The Australian government has authorized an extension of the major North West Shelf gas project until 2070, sparking economic, cultural, and environmental debates both domestically and on international liquefied natural gas markets.
en_1140290961540-12
Australia Extends North West Shelf Gas Project Operations by 40 Years
The Australian government has authorized an extension of the major North West Shelf gas project until 2070, sparking economic, cultural, and environmental debates both domestically and on international liquefied natural gas markets.
en_1140290961540-12
Woodfibre LNG develops world’s first net zero LNG export facility
Pacific Energy’s Canadian subsidiary plans to produce liquefied natural gas with one of the lowest carbon intensities in the sector, using low-emission technologies and local carbon credits.
en_1140290944540-14
Woodfibre LNG develops world’s first net zero LNG export facility
Pacific Energy’s Canadian subsidiary plans to produce liquefied natural gas with one of the lowest carbon intensities in the sector, using low-emission technologies and local carbon credits.
en_1140290944540-14

Advertising

LEGAL

FOSSILS

POLICY

RENEWABLE

PLUS

VERVANT

Welcome

Your subscription

Included in this subscription:

COMMUNICATE ON ENERGYNEWS