Thursday, October 19, 2017

Natural Gas News

MET International Plans to Boost LNG Trades

Switzerland-based MET International AG plans to boost its liquefied natural gas (LNG) trades in Europe by 50 to 100 percent next year, the company's chief executive said on Tuesday. Gyorgy Vargha said that while the company had traded one cargo, or 60,000 tonnes of LNG, per month this year, this is expected to rise to between 1.5 and two cargoes per month in 2018 as MET seeks to increase its role in that segment.

Gastrade Signs LNG Deal with State-owned DEPA

Greece's state controlled natural gas firm DEPA signed a cooperation agreement on Thursday with natural gas company Gastrade to participate in the development of a liquified natural gas terminal in northern Greece, DEPA said. Greece currently has one LNG terminal on an islet off Athens. Gastrade, part of Greek energy group Copelouzos, is planning a second LNG terminal near the northern city of Alexandroupolis. The project has been described as a 'project of common interest' by the European Union.

$800mln Gas Pipeline Proposed as Argentina Preps for Shale Boom

Gas transporter TGS, controlled by Pampa Energía, has proposed an $800 million pipeline and gas treatment plant in Argentina's Vaca Muerta shale fields, a company source said, aiming to address a key barrier to increasing production. The project, subject to approval by the government of Neuquen province, could be built in a year and a half and would transport gas produced by companies including state-run YPF SA , Tecpetrol, Dow Argentina and Exxon Mobil Corp , the source said.

Chevron Starts LNG Output at Wheatstone Project

Wheatstone Project in Western Australia. Photo: Chevron Corporation.

Chevron Corporation announced it has started producing liquefied natural gas (LNG) at the Wheatstone Project in Western Australia. The first cargo is on track to be shipped in the coming weeks. “First LNG production is a significant milestone and is a credit to our partners, contractors and the many thousands of people who collaborated to deliver this legacy asset,” said Chevron Chairman and CEO John Watson. At full capacity…

Yamal LNG to Ship Two LNG Cargoes in November

(File photo: PAO Sovcomflot)

The Russian Yamal LNG project will ship the first two cargoes of liquefied natural gas in November, followed by another four in December, Russia's customs service said on Tuesday.   The Yamal LNG project is co-owned by local Russian gas producer Novatek, as well as France's Total, China's CNPC and the Silk Road Fund.   Reporting by Oksana Kobzeva 

Petronas' Canadian Unit to Look at other LNG Opportunities

Progress Energy, a wholly-owned unit of Malaysia's Petronas, will look at other liquefied natural gas opportunities as a way to monetize its Canadian gas assets after Petronas scrapped a $29 billion LNG project this year, a company executive said on Wednesday. Petronas, the Malaysian state-owned energy company, abandoned plans to build the Pacific Northwest LNG plant in northern British Columbia in July due to weak prices…

Keyera, Chevron Ink NGL Transport, Storage Deal

Canadian pipeline operator Keyera Corp said on Tuesday it signed a 20-year agreement with Chevron's Canadian unit to transport and store natural gas liquids (NGL).   Under the deal, Chevron will deliver about 50 percent of its NGL from its Kaybob Duvernay operations near Fox Creek, Alberta to Keyera for storage and terminal services.   Keyera said it might expand its facilities in the future, depending on the success and scale of Chevron's Duvernay program.   Reporting by John Benny 

Most US Oil Execs See Prices below $60/Barrel through 2018

Nearly two-thirds of U.S. oil executives see crude oil prices remaining below $60 per barrel through 2018 and not hitting $70 until at least the next decade, according to a survey published on Wednesday by consultancy Deloitte Services LP. The survey, based on a poll of 250 executives at companies that produce, transport and refine oil and natural gas, reflects a shift from last year when many respondents forecast commodity prices would rise and capital spending budgets grow. U.S.

Search Suspended for Worker Missing in US Oil Platform Blast

The U.S. Coast Guard has suspended the search for a worker missing from an oil production platform in Louisiana's Lake Pontchartrain that exploded and caught fire late on Sunday. Missing is Timothy Morrison, 44, of Katy, Texas, the Coast Guard said in a statement. Seven other workers were sent to hospital with injuries in the incident. "The decision to suspend a search is never an easy one," Commander Zac Ford said in the statement.

NOIA Appoints Four to BoD

Martin Stauble

National Ocean Industries Association (NOIA) Chairman David Welch has appointed four new members to the association’s Board of Directors. The appointments were announced today during NOIA’s fall meeting in Jackson Hole, Wyoming, where the association is commemorating 45 years of commitment to America’s offshore energy industry. Today, the oil and gas industry, long centered in the Gulf of Mexico, produces 17% of America’s domestic oil and 5% of our domestic natural gas…

Aker BP Wins Approval for Gas Lift at Tambar

Norway's oil and gas watchdog has approved Aker BP's plans to modify facilities at the Tambar oilfield to support North Sea oil production it said on Thursday. The approved modification includes installation of a gas lift module to inject natural gas into wells to help to produce oil from the reservoir. "The gas lift is being installed because the reservoir pressure at Tambar is no longer sufficient to ensure satisfactory production," Norway's Petroleum safety authority said in a statement.

H-Energy to Start West Coast LNG Terminal in May 2018

India's H-Energy Pvt Ltd, a unit of real estate group Hiranandani, will start operations at its liquefied natural gas (LNG) terminal in the western Maharashtra state by May 2018, its chief executive said on Wednesday. India plans to raise the share of natural gas in its energy mix to 15 percent in three years from the current 6.5 percent, according to a plan set out by Prime Minister Narendra Modi's government.

U.S. Heating Costs Could be Higher this Winter

File Image: A laden LNG carrier at sea (CREDIT: AdobeStock / (c) Fotmart)

Most U.S. households can expect higher heating expenditures this winter than in the previous two years, according to the government's Winter Fuels Outlook due to be released at 11 a.m. (1500 GMT) on Wednesday. The U.S. Energy Information Agency (EIA) said in a report the higher expected heating expenditures between October and March are the result of more demand for heating because of colder weather and, to a lesser extent, higher fuel prices.

Future of LNG's Asian Rally Uncertain

File Image: A typical LNG Carrier at Sea (CREDIT: QGTC)

The spot price of liquefied natural gas (LNG) in Asia is enjoying its traditional surge ahead of peak winter demand, and the near 40 percent rally over the past six weeks probably has further to go. While exporters of the super-chilled fuel will no doubt be trying to maximise the number of spot cargoes they offer, of more interest to them may be how steep the post-winter drop is likely to be. Much of the current boost to prices is due to stronger-than-expected Chinese demand…

IEnova Ups Stake in Mexican Natural Gas Pipeline

File Image: A typical natural gas pipeline header / (CREDIT: AdobeStock / (c) Pisotckii)

Mexico's Infraestructura Energetica Nova (IEnova) said Friday it had acquired state oil firm Pemex's stake in the joint venture Ductos y Energeticos del Norte, increasing its participation in the second phase of a key natural gas pipeline. As a result of the transaction, IEnova's indirect stake in the project known as Ramones II North, will increase to 50 percent from 25 percent, said IEnova, a unit of U.S.-based Sempra Energy. The value of the operation is approximately $520 million, the company said.

Speculators Cut U.S. NatGas Net Longs Again - CFTC

File Image (CREDIT: AdobeStock / (c) Gear STD)

U.S. natural gas speculators cut their net long positions for a second week in a row on less cold winter forecasts and an increase in production to record levels.   Speculators in four major New York Mercantile Exchange (NYMEX) and Intercontinental Exchange (ICE) markets reduced their bullish bets by 28,839 contracts to 225,886 in the week to Oct. 3, the U.S. Commodity Futures Trading Commission said on Friday.   Reporting by Scott DiSavino 

About 13% US Gulf Oil Output Offline Due to Hurricane Nate

About 13 percent of U.S. Gulf of Mexico oil production remains offline in the aftermath of Hurricane Nate, the U.S. Department of the Interior's Bureau of Safety and Environmental Enforcement (BSEE) said on Friday. That equals about 220,000 barrels per day in production that is offline, according to BSEE. Oil companies evacuated staff from Gulf platforms and curtailed output ahead of the storm, which hit the region last weekend. About 7 percent of U.S. Gulf natural gas production remains offline, BSEE said.

$500 Mln Loan Approved for TANAP Gas Pipeline Project

The board of the European Bank for Reconstruction and Development (EBRD) has approved a $500 million loan for the Trans-Anatolian Natural Gas Pipeline (TANAP), the largest part of a $40 billion project to bring new gas supplies to Europe. The so-called Southern Gas Corridor is expected to bring around 16 billion cubic metres per year to Europe by 2020 from the Shah Deniz 2 field in Azerbaijan via TANAP through Turkey…

Turkey to Increase Gas Imports

Iran will pump more natural gas to Turkey as part Tehran's plans to expand its economic ties with its neighbour, Iranian President Hassan Rouhani told a joint news conference with his Turkish counterpart in Tehran, state TV reported on Wednesday. "During our meeting today, we agreed to widen our economic ties ...Turkey will import more gas from Iran ...meetings will be held next week to discuss the details," Rouhani said after his meeting with President Tayyip Erdogan.

FLNG Hilli Episeyo Departs Singapore Early

Golar LNG Limited said today that its floating liquefied natural gas (FLNG) vessel Hilli Episeyo departed Singapore for Cameroon earlier than anticipated, leaving at 10 a.m. local time on October 12. Hilli Episeyo was scheduled to leave Singapore between October 15 and October 20, but Golar LNG said a decision was made to complete LNG bunkering in Cameroon rather than in Singapore. The voyage to Cameroon is expected to take between 32 and 40 days.