Friday, July 19, 2019

Natural Gas News

Woodside Q2 Revenue Slides 32%

(Photo: Woodside)

Australia's Woodside Petroleum Ltd reported a 32% drop in second-quarter revenue on Thursday, the first decline in six quarters, as it was hit by an extension of planned maintenance at its Pluto liquefied natural gas facility and weaker prices.The country's largest listed oil and gas explorer said production for the quarter ended June 30 fell to 17.3 million barrels of oil equivalent (mmboe), from 22.1 mmboe a year earlier.

Santos Posts Record Production in Q2

(Photo: Santos)

Australia's No 2 independent gas producer Santos Ltd said on Thursday it had clocked record gas production in the second quarter on stronger output across its Western Australia gas assets.Production for the three months to June 30 rose to 18.6 million barrels of oil equivalent (mmboe) from 14.2 mmboe last year, the company said. The figure was higher than a Citi estimate of 17.78 mmboe.The company, however, slightly trimmed the upper end of its 2019 sales and production forecast, while raising the lower end.

IEA: U.S., China to the LNG Lead by 2024

© Mike Mareen/Adobe Stock

The United States and China will become the world's biggest liquefied natural gas (LNG) exporters and importers, respectively, in five years, according to projections by the International Energy Agency (IEA).U.S. LNG exports are expected to rocket to over 100 billion cubic meters (bcm) in 2024, dislodging current market leaders Australia and Qatar, Jean-Baptiste Dubreuil, senior natural gas analyst at IEA, said…

IMO2020: The Rise of Bulk Liquid Hydrogen in Norway

Renderings of a bulk carrier for the transportation of liquefied hydrogen by Moss Maritime, Wilhelmsen Ship Management, Equinor, and DNV-GL. Photo credit: Moss Maritime.

Imagine a power distribution network where excess renewable energy from hydropower, wind, solar, and nuclear energy is converted to hydrogen and used as transportation fuel in the maritime industry. With the allure of a zero emissions fuel, a number of ship owners are starting to seriously consider hydrogen for newly built vessels. As a bold first step, the country of Norway has provided a number of grants to…

Leviathan Platform Starts Voyage to Israel

(Image: Delek Drilling)

The gas platform for the Leviathan natural gas field is on its way to Israel from the Gulf of Mexico, the partners in the project said on Sunday.The first of four barges transporting the production structure units has left Texas and the other three will set sail in the coming weeks. In September, all the units will be installed on the jacket of the platform already in place 10 kilometers from Israel's shore.After connecting the units to the platform…

Storm Cut 73% of US Offshore Production

© Lukasz Z / Adobe Stock

Tropical Storm Barry has cut 73%, or 1.38 million barrels per day (bpd), of crude oil production in the U.S.-regulated areas of the Gulf of Mexico, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) said on Sunday.Natural gas output from the northern Gulf of Mexico is down 62%, or 1.7 billion cubic feet per day, BSEE said.A total of 283 production platforms, or 42%, remain shut in the Gulf of Mexico, BSEE said.(Reporting by Erwin Seba Editing by Nick Zieminski)

Pieridae Mulls Extensions with Uniper

Andreas Schierenbeck, Uniper CEO: Photo: Uniper

Canadian energy company has negotiated extensions of the key deadlines under its 20-year agreement with German energy trader Uniper.These include expected commercial deliveries of  LNG gas to Uniper to start between November 30, 2024 and May 31, 2025, and the extension of the deadline to make a positive financial investment decision (FID) for the company’s proposed Goldboro LNG facility to September 30, 2020.The…

LNG Bunkering Market to Reach $12bn by 2024

Coralius reaches 100 bunkerings milestone - LNG demand on the rise. Photo:  Gasum Oy

The global LNG bunkering market was valued at approximately USD 397.70 million in 2017 and is expected to generate revenue of around USD 11899.60 million by the end of 2024, growing at a CAGR of around 59.4% between 2018 and 2024.LNG bunkering is experiencing the highest growth rate in developed as well as developing countries, said a report by Zion Market Research.Escalating number of vessels using LNG owing…

Novatek Signs LNG Equipment Deal

Image: Novatek

The Russian natural-gas company Novatek and Atomenergomash, a mechanical engineering division of the Rosatom State Corporation, have signed a memorandum on strategic partnership and localizing the fabrication of critical equipment for liquefied natural gas (LNG) production.Novatek said that under the memorandum, the two companies will cooperate in the long term to localize the fabrication of pumps, heat exchangers…

Dominican Republic Kicks Off Licensing Round

© namning / Adobe Stock

The Dominican Republic's first oil licensing round will be a success if it awards more than two of the 14 blocks on offer this year, a government official said at an event disclosing the Caribbean nation's fiscal terms.The licensing round, which began on Wednesday with disclosure of contract terms, comes after Brazil, Guyana and Mexico attracted billions of dollars in oil investment. Cuba and Panama also have taken steps to attract producers with new contract terms…

Atlantic Offshore Wind: Favorable Winds for Maritime

© 3plusx/Adobe Stock

Now that the United States finally can envision steady winds blowing from the Atlantic Seaboard due to a pipeline of offshore wind farms on the horizon, the maritime industry can finally step up and earn some of the benefits. This includes shipbuilding, port construction, and worker training. This article reviews the key developments and forecasts the growth in maritime jobs.The federal and state governments share responsibility for developing offshore wind farms and bringing the wind into the power grid and…

Petrobras to Sell Natural Gas Assets

Brazilian state-owned oil firm Petroleo Brasileiro SA has reached an agreement with anti-trust regulator Cade to sell off a series of natural gas transportation and distribution assets, the company said in an exchange filing on Monday.Petrobras, as the company is commonly known, said it had pledged to sell stakes in pipeline networks including a 10% stake in Nova Transportadora do Sudeste (NTS) SA, 10% in Transportadora Associada de Gas (TAG) SA and 51% in Transportadora Brasileira Gasoduto Bolivia-Brasil (TBG

McDermott-Chiyoda Sign Cameron LNG Deal

Pic: Mitsui & Co., Ltd.

American multinational company McDermott International and its joint venture member Chiyoda have reached an agreement with Cameron LNG related to the construction of its LNG liquefaction project in Louisiana.McDermott and Chiyoda are providing the engineering, procurement and construction for the first three liquefaction trains at the Cameron LNG export project.Cameron LNG is jointly owned by affiliates of Sempra LNG…

Woodside Plans Maintenance at Karratha Gas Plant

(Photo: Woodside)

Australia's Woodside Petroleum has planned maintenance at its Karratha gas plant, part of the North West Shelf liquefied natural gas (LNG) export project, in the third quarter of the year, according to a notice on the company website.The first scheduled maintenance will affect one unidentified LNG train at the Woodside-operated plant in Western Australia from July 26 to Aug. 13, according to the notice.The second maintenance will be carried out on multiple LNG trains from Sept. 5 to Oct.

Corpus Christi Train 2 Delivers 1st LNG Cargo

Image: Cheniere Energy

Bechtel Corporation and Cheniere Energy  have completed the first liquefied natural gas (LNG) commissioning cargo from Train 2 at the Corpus Christi Liquefaction (CCL) export terminal in Texas, US.A joint press release from the firms said that through the partnership they have now delivered seven LNG trains at two sites on the U.S. Gulf Coast since 2015.“We are pleased to have achieved another key milestone, LNG First Cargo…

Woodfibre LNG Gets BC OGC Permit

Map: BC Oil & Gas Commission

Woodfibre LNG, a liquefied natural gas (LNG) export facility planned for Howe Sound on the southern B.C. coast,  has received its facility permit from the British Columbia (BC) Oil and Gas Commission (OGC).“Following a rigorous process, Woodfibre LNG has received our Facility Permit issued from the BC OGC, one of the key permits required for construction and operation of the project. This is a positive step forward as we work to build the cleanest LNG export facility in the world…

Wärtsilä Forms New Biofuel Arm

Wärtsilä Biogas Solutions combines biogas upgrading with liquefaction to offer a full service for advanced biofuel production. Copyright: Biokraft

Finnish shipping technology group Wartsila has merged its Puregas Solutions and biogas liquefaction teams to form a new Biogas Solutions unit that will offer its customers a ‘one-stop-shop service’ for advanced biofuel production.Wärtsilä Biogas Solutions, a unit with expert capabilities in liquefying upgraded biogas for end-customer use, offers products for biogas upgrading to biomethane, and the liquefaction of biomethane into bioLNG."Currently…

European Gas Prices Fall To 10-Years Low

Graph: Rystad Energy

European natural gas prices reached their lowest in at least a decade, fueled by a battle for market share between Russia, traditionally the continent's supplier, and the U.S., whose gas exports have gained momentum on the back of the shale boom.European natural gas prices are at a historical low and below the cost of shipping gas from the US to Europe. In May, prices remained just above this floor, fetching around $4.20 per million British thermal units (MMBtu).But this floor seems to be crumbling…

Mitsui, JOGMEC join Arctic LNG-2

Image of LNG Plant: Novatek

Japanese trading house Mitsui & Co and state-owned Japan Oil, Gas and Metals National Corporation (JOGMEC) have signed a sales and purchase agreement with Russia’s Novatek for a 10% participation interest in the Arctic LNG 2 project.The share will be acquired through the Dutch Company, Japan Arctic LNG B.V., in which Mitsui has invested jointly with JOGMEC. The equity ratio of JOGMEC and Mitsui will be set at…

GulfSlope Energy Forms JV for GoM

Image courtesy: GulfSlope Energy

GulfSlope Energy, an independent oil and natural gas exploration company, has signed a letter of intent to enter a joint venture (JV) for drilling of shallow water depth prospects in the Gulf of Mexico (GoM).The oil and natural gas company focused on exploring offshore U.S. GoM said in a press release that it will retain and deploy a supra salt evaluation team consisting of three geoscientists and a manager to identify…