Friday, May 24, 2019

Gas Demand News

Repsol's Q1 Net Profit Rises

(Photo: Repsol)

Spanish oil and gas firm Repsol said on Tuesday first quarter adjusted net profit rose 6 percent from a year earlier, as a fall in oil and gas prices and a halt to production in Libya were offset by lower costs and a stronger U.S.

GasLog Predicts LNG Spot Rate Recovery

Pic: GasLog LNG carrier

GasLog Partners, which owns, operates, and acquires liquefied natural gas (LNG) carriers under multi-year charters, said that the longer-term outlook for natural gas demand continued to strengthen in the first quarter of 2019.Despite LNG demand in the first quarter of 2019 being negatively impacted by warmer than usual weather in the Northern Hemisphere winter…

Gas Production Set to Triple in Iraq

Graph: Rystad Energy

Gas developments in Iraq will overtake oil projects in 2019, measured in resources sanctioned for development, according to analysis from Rystad Energy."For the world’s fourth largest crude producer, natural gas is about to take pole position," said a statement from the energy research and business intelligence company.New…

Energy Demand Rose at a Record Rate

Pic: International Energy Agency

Global energy demand grew 2.3% last year, marking its fastest pace in a decade, amid a robust global economy and stronger heating and cooling needs in many regions, said the International Energy Agency (IEA).Natural gas emerged as the fuel of choice, posting the biggest gains and accounting for 45% of the rise in energy consumption.

Russian Share of European Gas Growing

Graphics: Rystad Energy

With gas supplies growing at a faster rate than domestic demand, Russia can increase pipeline and liquefied natural gas (LNG) exports to Europe, said a report.Russia’s gas production has been steadily increasing since the low of 611 Bcm in 2015, and reached 695 Bcm in 2018, according to a report form Rystad Energy,…

U.S. LNG Exports Soar, Europe a Big Buyer

File image: LNG tanker transiting the Med (Credit: Robert Murphy)

U.S. LNG to Europe may squeeze out smaller gas suppliers.Shipments of U.S. liquefied natural gas (LNG) have gathered pace in March and Europe is set to stay a top destination for spot cargoes with Asian prices still too low to ship the chilled fuel that far.But winter demand for gas is fading, while steady supplies of gas and LNG have kept inventories well stocked…

Natural Gas Contributes to Low Carbon Future

Photo from the LNG facility in Hammerfest. (Photo: Einar Aslaksen - TRY / Equinor ASA)

Equinor sold natural gas for around $26 billion in total in 2018, an increase of 29 percent from 2017. As more countries prepare for the energy transition, Equinor sees strong market opportunities for gas and expects global demand to grow by around 10% towards 2030.Equinor is the largest producer of natural gas on the Norwegian continental shelf and the second-largest gas supplier to Europe.

Gazprom to Start Gas Supply to China

Construction of Power of Siberia gas pipeline. Pic: Gazprom

Russian gas giant Gazprom will start supplying Russian natural gas to China via the Power of Siberia pipeline almost one month early than previously planned.Alexey Miller, Chairman of Gazprom Management Committee, said after the negotiations with representatives of Chinese partner CNPC in Beijing, “Construction of the Power of Siberia gas pipeline is going ahead of schedule…

EIA: Azerbaijan Surges in Natural Gas

Graphics: U.S. Energy Information Administration

Azerbaijan is an important supplier of crude oil and natural gas in the Caspian Sea region, particularly to European markets, the US Energy Information Administration said in its report.The EIA’s report notes that Azerbaijan’s exports of natural gas are poised to become a more significant part of the country’s economy.Azerbaijan…

Excelerate FSRUs Hit Send-out Milestone

Pic: Excelerate Energy L.P.

US-based LNG solutions company Excelerate Energy's  Northeast Gateway Deepwater Terminal (Northeast Gateway), located offshore Boston, reached a peak send-out flow rate of over 800,000 MMBTU per day of natural gas on February 1, 2019, a first for the terminal.The operation was completed by two of Excelerate’s floating storage regasification units (FSRUs)…

Japan Ink LNG Supply Deal with China

Image: Shizuoka Gas

Japanese natural gas utility and supplier Shizuoka Gas signed an LNG sale and purchase agreement with Clean Energy in China for the delivery of chilled fuel from the Shimizu LNG terminal in ISO containers.Shizuoka Gas has been seeking further utilizations of Shimizu LNG terminal since 2017 when it made a success of…

US Natural Gas Demand Nears Record High

© Sergeev Sergey / Adobe Stock

U.S. homes and businesses will likely use record amounts of natural gas for heating on Wednesday as an Arctic-like freeze blankets the eastern half of the country, according to energy analysts.Harsh winds brought record-low temperatures across much of the Midwest, unnerving even residents accustomed to brutal winters…

Exxon, BHP to Develop West Barracouta Gas Field

The Barracouta platform in Bass Strait (Photo: ExxonMobil)

ExxonMobil Corp and the world's top miner BHP Billiton said on Thursday they approved development of the West Barracouta gas field in the Gippsland Basin in Australia, to bring fresh gas to Australian domestic markets.Exxon said the project, located off the shore of the state of Victoria, is part of its continuing investment in the Gippsland Basin, an area rich in oil and gas.

UKCS Still Worth Investment Despite Brexit -Equinor

(Photo: Jamie Baikie / Equinor)

Norwegian oil and gas firm Equinor will remain committed to the mature British continental shelf regardless of the country's plans to leave the European Union, a senior executive told Reuters.British Prime Minister Theresa May abruptly decided on Monday to pull a parliamentary vote on the Brexit deal, thrusting U.K.'s divorce from the EU into chaos…

ADNOC, Inpex in LNG Bunkering Pact

Photo: ADNOC Logistics & Services

ADNOC Logistics & Services (ADNOC L&S), a wholly-owned subsidiary of UAE's ADNOC, has signed an agreement with Japan's Inpex Corp to collaborate on LNG bunkering activities.Under the agreement, ADNOC L&S and Inpex will explore opportunities for LNG bunkering in the UAE as well as the potential to jointly expand LNG bunkering activities to cover other regions…

Gazprom Starts Operations at Final Yamal Unit

(Photo: Gazprom)

Russian gas giant Gazprom said on Wednesday it had begun operations at a third and final unit at its Bovanenkovo gas field on the Arctic Yamal peninsula, allowing it to boost natural gas production.Gazprom also said it had increased the capacity of the Ukhta-Torzhok gas pipeline, aimed at facilitating Russian gas exports to northern Europe, including via the Nord Stream pipeline.Gazprom plans

ADNOC LNG Wins Extension of Gas Supply Contract to 2040

Image: ADNOC

The Abu Dhabi National Oil Company (ADNOC), has agreed, in principle, to extend to 2040 its gas supply agreement with ADNOC LNG, in coordination with ADNOC LNG’s joint venture partners, Mitsui, BP and Total.The the state-owned oil company of the United Arab Emirates said that the new gas supply agreement is scheduled to take effect from April 1…

Saudi Aramco, ADNOC to Cooperate on LNG

Saudi Aramco and ADNOC MoU signing ceremony. Photo: Saudi Aramco

The state-owned energy giants of Saudi Arabia and the United Arab Emirates, Saudi Aramco and Abu Dhabi National Oil Company (ADNOC), signed a cooperation deal to explore potential areas for mutual collaboration in the LNG value chain aimed at bolstering gas production and revenue.The Saudi Arabian national petroleum…

OMV, Sapura Energy Sign Pact

Image: Sapura Energy Berhad

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…

Global LNG Trade Jumps by 7.1%, Says Höegh LNG

Image: 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…