Trafigura Boosts LNG Volumes by 22%
Geneva based commodity trading company Trafigura increased its liquefied natural gas (LNG) traded volumes by 22% to 9.9 million mt in its financial year ending September 30 2018, driven by sales to China and South Korea, with the Asian share of our LNG business jumping to 30 percent.According to the annual report from the multinational commodity trading company, which is legally registered in Singapore, the big story in the LNG market in 2018 was a surge in demand in Asia. In China, efforts to clean-up the energy mix led to a 45 percent increase in LNG imports year-on-year…
Verus Petroleum Mulls 12-Fold Production Growth
Aberdeen, UK-based Verus Petroleum has secured a 12-fold increase in its production – from 1,500 to 18,000 barrels per day in less than a year – with the closing of three recent acquisitions on the UK Continental Shelf.A press release from the petroleum exploration and production services provider said that it has recently completed three significant acquisitions; an interest in the Babbage gas field acquired from Premier Oil on 6th December, on the back of completing transactions to acquire…
Petronet Seeks Long-term Deal to Buy US LNG
Top Indian gas importer Petronet LNG is looking to sign a deal in a year's time to buy at least 1 million tonnes of U.S. natural gas annually for a period of up to 10 years, as it pushes to diversify its supply sources beyond the Middle East.As part of any deal, the firm could potentially take a stake in a U.S. liquefied natural gas (LNG) project, said Petronet's managing director, Prabhat Singh."The U.S. market is open compared to other markets where the state is (often) the controller of minerals," Singh told Reuters late last week."The U.S.
Australia Becomes No.1 LNG Exporter
Australia has overtaken Qatar as the world's largest exporter of liquefied natural gas (LNG) for the first time in November, Reuters reported quoting data from Refinitiv Eikon.According to the data provided, Australia shipped out 6.7936 million tonnes of LNG in Novemebr, while Qatar exported 6.2025 million tonnes.The report said that Australia's LNG exports jumped by over 15 percent from the previous month, while Qatar's exports slipped by 3 percent, falling for the first time at this time of the year since 2014.Earlier…
LNG Import Terminal Proposed for Australian port
A South Korea-based company has proposed building a terminal on Australia's east coast to import liquefied natural gas, the fifth proposal for such a project in the world's No.2 LNG exporter.The proposals have come after three new LNG export plants on the east coast have sucked gas out of the southeastern market and nearly tripled wholesale gas prices in places such as Sydney over the past two years.EPIK, a newly-formed LNG floating storage and regasification unit (FSRU) project development company…
Carnarvon Petroleum Secures Noble Tom Prosser Jack-up Drill Rig
Australian oil and gas exploration and production company Carnarvon Petroleum has secured a Noble Tom Prosser jack-up drilling rig for two appraisal wells at the Dorado joint venture oil, gas and condensate discovery offshore Western Australia.The energy sector company said in a press release that shallow water depths in this part of the Canning Basin on the North West Shelf mean that the joint venture can utilise a cost-effective jack-up rig for its appraisal wells. The Noble Tom Prosser was…
Prelude FLNG to Start Producing at End-2018
Royal Dutch Shell expects production at its Prelude floating liquefied natural gas (LNG) unit to start at the end of the year, a spokeswoman told Reuters on Tuesday."We continue to progress Prelude towards operations, with safety and quality being our main focus ... We expect to see production around the end of the year," she told Reuters in an emailed statement.Prelude - which will process natural gas produced offshore northern Australia and export it as LNG - is expected to have an annual LNG production capacity of 3.6 million tonnes.
Global LNG Trade Jumps by 7.1%, Says Höegh LNG
The global floating liquefied natural gas (LNG) trade reached 236 million tonnes in the first nine months of 2018, up by 7.1% from the same period of 2017 on a combination of robust Asian demand and new supplies of LNG from Australia and the USA, said Höegh LNG.The provider of LNG transportation and services said that for the full year, LNG trade is expected to reach around 320 million tonnes, up by more than 7% from 2017.Increasing Chinese demand continues to be a key driver for expanding LNG volumes.
Turbine Brings New Wave of Energy to Gladstone Port
Australia's Gladstone Ports Corporation (GPC) is continuing to progress its renewable energy initiatives, with a tidal turbine deployed at its Barney Point Terminal in Gladstone.It is part of a six month trial aimed at demonstrating how tidal flows at the Port of Gladstone can be harnessed to produce electricity, according to a press release from the Queensland's largest multi-commodity port and the fifth largest multi-commodity port in Australia.GPC has partnered with MAKO Turbines Pty Ltd for the demonstration, which is the first of its kind in Australian tropical waters using port infrastructure.Member for Gla
New Leadership at NRG Group
Aberdeen-based NRG Group announced two new directors have been appointed to lead the family-owned company.The company, which consists of NRG Well Examination and NRG Well Management, was founded by Andrew Mackay in 1988. Mackay has handed the reins to his son, Daniel Mackay, and daughter, Erica McPherson, who have taken up the newly-created roles of managing director at NRG Well Management and NRG Group Commercial Director respectively to shape the future direction of the company.Andrew Mackay remains involved with the business as chairman and majority shareholder.Daniel recently returned to the U.K.
Petronas Q3 Profit Jumps 43%
Malaysian state-owned energy firm Petroliam Nasional Berhad, or Petronas, on Tuesday said it will increase its dividend payout to the government after its third-quarter net profit jumped on higher revenue and oil prices.The new administration led by Mahathir Mohamad is relying more on Petronas - a significant contributor to government revenue and the country's largest employer - to offset a revenue shortfall from the government's plan to scrap a consumption tax.Higher and more stable oil prices…
Norway's Equinor strikes LPG Deal with Malaysia
Norwegian oil and gas firm Equinor has entered into a long-term agreement with Malaysia's Global Petro Storage for a terminal and storage for liquified petroleum gas (LPG) volumes in Port Klang, in South-East Asia.According to statement from the petroleum and wind energy company, GPS will build a new facility to execute this agreement with startup of operations planned for mid-2021. Equinor will bring LPG to the terminal and sell into the domestic market in Malaysia as well as selling volumes to markets like Bangladesh…
Shell Australia Agrees to Sell Stake in Natural Gas Fields to Timor-Leste
Royal Dutch Shell's Shell Australia said Wednesday it entered into a sales agreement with Timor-Leste to sell the government a 26.56% interest in the Greater Sunrise fields for $300 million.The Greater Sunrise fields, comprised of the Sunrise and Troubadour gas and condensate fields, are located about 150 kilometers (93 miles) southeast of Timor-Leste and 450 kilometers (279 miles) northwest of Darwin in the Northern Territory, Shell said in a statement.Timor-Leste's Special Representative Xanana…
Woodside Inks 20-year Gas Supply Deal
Woodside Petroleum Ltd, Australia's biggest listed oil and gas explorer, said on Tuesday it had signed a 20-year gas supply deal with Perdaman Chemicals and Fertilisers Pty Ltd.The agreement is to supply about 125 TJ of gas per day for use in Perdaman's proposed urea plant, and gas will be primarily sourced from Woodside's proposed Scarborough development, the company said in a statement.The agreement follows a memorandum of understanding between the companies signed in April."This is a significant domestic gas sale and represents another step towards the delivery of the proposed Burrup Hub," said Woodside Chief
First LPG Shipped from Ichthys Project
Japan's Inpex Corp said it had sent the first liquefied petroleum gas (LPG) shipment from its giant Ichthys project in Australia.The LPG vessel Hellas Gladiator departed the onshore liquefaction plant at the Ichthys LNG Terminal in Darwin, the company said in a statement late on Friday. Ship tracking data showed the vessel was due to arrive at Yantai in China around Nov. 26.The project shipped its first condensate on Oct. 1 and its first LNG in late October.(Reporting by Osamu Tsukimori; Editing by Joseph Radford)
Inpex Officially Opens Ichthys LNG Site
A landmark celebration has officially opened the onshore LNG processing facilities of INPEX-operated Ichthys LNG – one of the largest and most complex resource developments in the world.Japanese, Australian and Northern Territory government representatives unveiled a plaque to commemorate four decades of future benefits Ichthys LNG will bring to the Northern Territory, Australia, Japan and the region.Symbolising the collaboration inherent in global enterprises on the scale of Ichthys LNG, Mr Hiroshige Sekō, Japanese Minister of Economy, Trade and Industry, Senator the Hon.
Bechtel, Cheniere Fires Up Corpus Christi LNG Production
The the largest construction company in the United States Bechtel has joined its customer Cheniere Energy to announce production of the first liquefied natural gas (LNG) from the Corpus Christi Liquefaction project in Texas.The leader in project management, engineering, procurement, and construction said in a press release that this production train at the Corpus Christi project is the latest of six trains that Bechtel has delivered with Cheniere at two sites on the U.S. Gulf Coast.The Sabine Pass Liquefaction project in Louisiana produced the first LNG from that site’s fifth train last week…
New Well Testing Technology
New technology from Schlumberger delivers well testing performance data in real-time.Schlumberger has introduced well testing live performance technology at the Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC). The new technology, called Concert, brings real-time surface and downhole measurements, data analysis, and collaboration capabilities to well testing.In the Concert performance ecosystem, all well test data are digitally integrated via wearable technology, wireless sensors, and video cameras.
OMV, Sapura Energy Sign Pact
Malaysia’s Sapura Energy has entered into a heads of agreement with Austria’s OMV to form a strategic partnership and acquire half of Sapura Upstream for $1.6 billion."Under the agreements, OMV Exploration and Production GmbH (OMV E&P), a wholly-owned subsidiary of OMV Aktiengesellschaft, will buy a 50 per cent stake of the enlarged issued share capital in a newly-formed joint venture company, SEB Upstream Sdn Bhd (SUP), based on an enterprise value of up to USD1.6 billion comprising an equity value of up to USD1…
China LNG Growth Not Slowing -Woodside
China's appetite for liquefied natural gas (LNG) has not slowed, but its purchases have been spread more evenly, avoiding last year's sudden spike to meet winter demand, Australia's top independent LNG producer said on Tuesday.LNG demand from North Asia's main hubs in Japan, China and South Korea has slowed in recent weeks, raising concern that forecasts for a milder than usual winter may dent consumption. There are also signs that the ongoing Sino-American trade war is starting to dent industry in China."We're not seeing a slowdown…