Global Gas Roundup: Oilserv-Gabon Pact, German Pipeline Curbs, Europe's Winter Squeeze

Oilserv Limited signed a memorandum of agreement with Gabon's government to establish a framework for developing and commercializing hydrocarbon reserves in the DEF-3 and D4-5 blocks, according to Oriental News.

Germany's energy grid regulator moved to limit potential profits for companies planning to invest in new gas pipelines, Euractiv reported, prompting pushback from gas companies over investments that analysts believe are not needed.

Europe is heading into winter with the highest natural gas prices in more than three years and the lowest reserves of the fuel in at least 15 years, according to The New York Times.

KBR and AKT signed a contract to complete the comprehensive engineering design for Iraq's West Qurna Gas Capture Project, Iraqi News reported. The work advances Basrah Gas Company's efforts to collect associated gas and cut flaring in southern oilfields.

Turkmenistan commissioned the Demirgazyk-Kukurtli-3 well at the Kukurtli linear production site in the Lebap region, which produces 75,000 cubic meters of natural gas per day, according to the Turkmennebit State Concern as reported by Trend.

In Nigeria, industry experts said the country must fix longstanding policy, infrastructure and payment challenges before NNPCL can reach its targets of more than 600 trillion cubic feet of gas reserves and national production of 12 billion cubic feet per day by 2030, Oriental News reported.

In Canada, British Columbia's share of national oil and gas investment rose to over 30% by 2024, driven by large investments in the province alongside declines elsewhere in the country, according to Todayville.