Sunday, June 25, 2017

Natural Gas News

India's LNG Market to Reach USD 30.7bln by 2025

Image: Petronet LNG Limited

India Natural Gas and LNG market is expected to grow from US$ 19.7 billion in 2015 to US$ 30.7 billion by 2025 at a CAGR of 5.06% between 2016 and 2025. According to a report by Research and Markets, natural gas including Regasified Liquefied Natural Gas (R-LNG) in India has been widely recognized as the fuel with multiple promising aspects. The present situation of the gas sector in India is going through multiple challenging phase.

US LNG Going Global

© Anatoly Kolodey / Adobe Stock photo

The U.S. liquified natural gas (LNG) market is ripe with opportunity, according to American Action Forum (AAF). "When coupled with the tension surrounding Qatar (the largest exporter of natural gas in the world), this makes U.S. LNG production a very attractive option," said Kimberly VanWyhe is the Director of Energy Policy at the AAF. In 2016, LNG exports from the U.S. totaled 184,141 million cubic feet with a value of roughly $564 million. Currently the U.S.

Petrobras Oil Output Jumps 4% in May

 Brazil's Petrobras produced 2.18 million barrels per day of crude oil on average in May, a 3.9 percent increase over the prior month, the state-owned company said on Monday.   Natural gas production rose 0.5 percent to 78.9 million cubic meters per day, Petrobras added.   Total oil and natural gas production in Brazil reached 2.8 million barrels of oil equivalent per day, the company said. (Reporting by Alexandra Alper; Editing by Lisa Von Ahn)

Wind, Solar Energy No Threat to Grid: Industry Study

File Image (CREDIT: AdobeStock / (c) JJAVA)

With the Trump administration expected to publish an analysis that could undermine the U.S. wind and solar industries, two renewable energy lobbying groups on Tuesday released their own study saying new energy sources pose no threat to the country's power grid. Wind and solar advocates have said the government study's outcome appeared to be pre-determined to favor fossil fuel industries. The new report, commissioned by the American Wind Energy Association and Advanced Energy Economy…

WPX forms JV to Develop Permian Assets

File Image: a typical natural gas pipeline header. (CREDIT: AdobeStock / (c) Pisotsckii)

U.S. oil and gas producer WPX Energy Inc said it had agreed to form a joint venture with privately held Howard Energy Partners to develop oil gathering and natural gas processing infrastructure in the Permian basin. The joint venture will complete the construction of a pipeline, already started by WPX, and develop a new natural gas processing plant, the company said. The pipeline is designed to move about 125…

French Court to Decide on Removal of Regulated Gas Tariffs

France's highest administrative court should decide by the end of July on the potential removal of regulated gas tariffs for consumers, sources close to the matter told Reuters on Monday. The ANODE association of alternative power and gas vendors filed a legal challenge against regulated gas tariffs with France's Conseil d'Etat in 2013. The council then sought the advice of the European Court of Justice, which…

Gazprom Says Poland Gas Supply Issue Resolved

Russia's Gazprom said on Thursday a technical issue that caused poor quality gas to be delivered to Poland via the Yamal pipeline had been resolved. Poland on Wednesday temporarily halted gas deliveries from Russia via the pipeline due to poor quality of the gas. "From this afternoon on, the quality of natural gas that enters the gas transportation system of Poland corresponds to that foreseen in the contract," Gazprom's export division, Gazprom Export, said in a statement.

Poland Halts Yamal Pipeline Gas Deliveries

Poland's state gas pipeline operator Gaz-System said on Wednesday the country has stopped taking in gas deliveries via the Yamal pipeline due to poor quality of gas and currently plans to maintain limits on gas transit until June 23. "Due to the poor quality of the natural gas, Gaz-System cannot receive gas deliveries for the domestic transit system at the joint connection point (PWP) on the Yamal pipeline," Gaz-System said in a statement. "Limits on the transit capacity ...

GoM Rigs Evacuated ahead of Storm Cindy

Image: NOAA National Hurricane Center

Facing incoming Tropical Storm Cindy, offshore oil and gas operators in the Gulf of Mexico have begun evacuating platforms and rigs as the storm moves north-westward toward the U.S. Gulf Coast. Data from offshore operator reports submitted to the Bureau of Safety and Environmental Enforcement (BSEE) as of 11:30 CDT today indicate that personnel have been evacuated from a total of 40 production platforms, or 5.43 percent of the 737 manned platforms in the Gulf of Mexico.

Greece, Israel, Cyprus to Speed up Mediterranean Pipeline Efforts

Greece, Israel and Cyprus said on Thursday they would speed up plans for the development of a pipeline channelling gas to Europe from newly discovered east Mediterranean reserves. European governments and Israel agreed in April to move forward with a Mediterranean pipeline project to carry natural gas from Israel to Europe, setting a target date of 2025 for completion. Europe is keen to diversify its energy supplies…

Dana Gas Outlines Broad Terms For Sukuk Discussions

Dana Gas PJSC , the Middle East’s largest regional independent natural gas company, has invited Holders of its Mudarabah Sukuk to a call on Wednesday June 21, at 4 pm UAE time (2 pm EST, 1 pm UTC, 8 am Atlantic Time). The purpose of the call is to communicate directly with the company’s broad Sukukholder group, and provide proper context and additional information regarding the planned restructuring, including background on declaration of the current Sukuk’s unlawfulness…

Oil Explorer ONGC Keen to Buy Stake in Refiner HPCL

India's top explorer Oil and Natural Gas Corp (ONGC) is keen to acquire the government's stake in oil refiner Hindustan Petroleum Corp (HPCL), the country's oil minister said on Wednesday. "ONGC has shown interest," Dharmendra Pradhan told reporters in New Delhi. "In my view, HPCL's independent identity and brand will be protected in the process," HPCL Chairman Mukesh Kumar Surana said, indicating the refiner could become a subsidiary of ONGC.

Qatar Tells US It Will Maintain Stable LNG Exports

Qatar's finance minister told U.S. Treasury Secretary Steven Mnuchin during a trip to Washington last week that Qatar was committed to maintaining stability around its exports of liquefied natural gas to the global energy market, according to a statement by Qatar's government communication office. "They discussed Qatar’s efforts to counter terror financing ... and Qatar’s commitment to maintaining stability around its exports to the global energy market," the statement said.

Delfin Project Gains US Approval to Export LNG

Image: Delfin LNG

The U.S. Department of Energy (DOE) has approved a long-term application to export liquefied natural gas (LNG) from the first offshore project, Delfin LNG, LLC. Exports in the amount of 1.8 billion cubic feet per day (Bcf/d) of natural gas are approved from Delfin’s proposed offshore Louisiana floating LNG terminal in the Gulf of Mexico. Development of the Delfin project offshore of Cameron Parish, La. will include the construction of floating liquefaction and storage vessels.

Oil Traders Brace for US Gulf Coast Storm

Oil traders from Texas to Louisiana braced on Tuesday for supply disruptions as Tropical Storm Cindy, formed in the U.S. Gulf of Mexico, threatened to hit refining and production centers with wind and rain later this week. Cindy was located about 265 miles (430 km) south of Morgan City, Louisiana with maximum sustained winds of 45 miles (75 km) per hour. It is expected to approach the coast of southwest Louisiana late Wednesday or Wednesday night…

YPF Says Technology Lowering Its Shale Costs

Longer horizontal wells and technology improvements will help Argentine state-run oil company YPF SA lower costs at its most productive shale field, but better infrastructure is still needed in the remote Vaca Muerta play, an executive said. The breakeven price at the Loma Campana field is $43 per barrel and falling while development costs are $12.90 per barrel and expected to fall to $10 next year, said Pablo Bizzotto, executive manager at YPF's unconventional resources unit.

KOGAS to Receive first Cheniere LNG Cargo

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

KOGAS to receive first LNG cargo from Cheniere in July; this marks start of 20-year supply contract. Korea Gas Corp (KOGAS) will early next month receive its first liquefied natural gas (LNG) cargo under a long-term supply deal with U.S. exporter Cheniere Energy, two sources at the South Korean company said on Friday. The 74,000-tonne LNG cargo was loaded from Cheniere's Sabine Pass export terminal in Louisiana and is scheduled to arrive at the port of Tongyeong, South Korea on July 2, one of the sources said.

Snam in Talks to Buy LNG Terminal Stake from Edison

Photo: Adriatic LNG

Italian gas group Snam is in exclusive talks with EDF's Italian unit Edison to buy a stake in a liquefied natural gas terminal in northern Italy as part of plans to develop its LNG business, two sources said. Snam, controlled by state lender Cassa Depositi e Prestiti, is looking to buy Edison's 7.3 percent stake in Terminale LNG Adriatico and the gas pipeline that connects it to Italy's gas transmission backbone, the sources said.

Norway Oil & Gas Output at Risk if Labor Walks

File Image: a typical offshore North Sea installation (Credit: Statoil)

Five Norwegian oil and gas fields will shut down production unless a wage deal is agreed with the Lederne trade union, an industry lobby group said on Friday. The shutdown would affect fields operated by Statoil , Shell and Eni and would cut output by 443,500 barrels of oil equivalent per day, the Norwegian Oil and Gas Association (NOG) said in a statement. The deadline for the talks is at midnight Friday (2200 GMT), but shutdowns would only start on Sunday, the lobby group said.

Crew Energy Suspends Production at Montney Facility

Canadian exploration and production company Crew Energy said it would temporarily suspend production at its Montney facility after Alliance Pipeline Ltd Partnership detected slope movement near a pipeline close to the Wapiti River. The suspension will result in all of Crew's Montney production being shut-in, representing about 90 million cubic feet per day (mmcf/d) of natural gas and other liquids. Based on an expected outage of three to five days…