Friday, November 15, 2019

Natural Gas News

LNG Imports Jump in Poland

Image: PGNiG

Polish state-controlled oil and gas company Polskie Górnictwo Naftowe i Gazownictwo (PGNiG) has reported a jump in liquefied natural gas (LNG) imports for the first three quarters of the year.The volume of LNG imported in the nine months to September 30th 2019 was 27% higher than in the same period of 2018, amounting to 2.48 bcm after regasification, said the gas firm.LNG supplies’ share in total gas imports was about 23%…

Gasum on an Acquisition Spree

Pic: Gasum

Finland-based integrated gas company Gasum takes steps forward in its growth strategy by acquiring AGA’s Clean Energy business and Nauticor’s Marine Bunkering business from Linde AG."These acquisitions will enhance the development of the Nordic gas market and create a platform for Gasum to provide a broader offering to meet the increasing demand for low-emission energy solutions from customers in industry, maritime and road transport…

Oil Is Our Gold and We Aim to Use All of It -ADNOC

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Abu Dhabi National Oil Co aims to exhaust its vast oil and gas reserves even as many consumers switch to cleaner sources of energy, a senior executive in the Gulf oil company said.The world's transition away from fossil fuel in an effort to slash greenhouse gas emissions is expected to accelerate in coming decades, leaving many oil companies and producing nations pondering their long-term future.But for state-run ADNOC…

BP, Total Pact for Adnoc LNG Supply

Photo: ADNOC

The state oil giant Abu Dhabi National Oil Company (ADNOC) signed agreements with BP and Total to book the majority of its liquefied natural gas (LNG) production up to the first quarter of 2022.With the transactions, ADNOC LNG has continued to expand its footprint into new regions and markets, said a press release.“With these new supply agreements, ADNOC LNG has shown that it can react quickly and decisively to changing market conditions while ensuring the security and quality of delivery…

China Expects Balanced Energy Supply/Demand

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China's state planner expects this winter's energy supply and demand to be generally balanced amid increasing natural gas output and liquefied natural gas (LNG) imports, state news agency Xinhua reported on Tuesday.Citing unidentified officials from the National Development and Reform Commission (NDRC), Xinhua reported natural gas demand from residential users will grow by more than 3.8 billion cubic meters (bcm)…

Saipem Inks Deal with Daewoo for Onshore Projects

(Photo: Saipem)

Italy's Saipem said on Monday it signed a strategic agreement with Daewoo E&C Co.

Indonesia Inks 20-year PSC for Corridor Block

(Photo: ConocoPhillips)

Indonesia's government signed on Monday a production sharing contract with units of ConocoPhillips, PT Pertamina and Repsol SA for the Corridor natural gas blocks, Energy and Mineral Resources Minister Arifin Tasrif told reporters.The contract will extend by 20 years the current contract with the same companies that will expire in late 2023.Under the new contract, the companies will have 53.5% of the gas produced from the block and 48.5% of the oil."The government considers the existing contractors to have the

Iran Finds New Oil Field of 53bln Barrels

Hassan Rouhani. Photo: Official website of the President of the Islamic Republic of Iran

Iran has discovered a new oil field in the country’s south with an estimated 50 billion barrels of crude oil in the oil-rich Khuzestan province, its president Hassan Rouhani said.However, the US  sanctions against Iranian oil could make it difficult for the oil to find its way to international markets.Rouhani made the announcement in a speech in the desert city of Yazd. Some 53 billion barrels would be added to Iran’s proven reserves of roughly 150 billion…

50 years of LNG imports in Japan

”Polar Alaska”, transporting the first cargo of LNG to Japan. Photo: JERA

Japanese gas buyers marked the 50th anniversary since the first cargo of liquefied natural gas arrived in Japan, now the world’s biggest importer of the fuel.On November 4th, 1969, LNG was first imported to Japan. Tokyo Electric Power Company (now JERA Co., Inc.) and Tokyo Gas, through Mitsubishi Corporation acting as a buyer’s agent, started receiving LNG in 1969 from the Alaska LNG Project with Phillips Petroleum…

MOL Conducts LNG Bunkering at Nagoya Port

Bunkering LNG fuel, From the left: Toho Gas, Executive Vice President, Shinji Niwa, MOL, Executive Vice President, Takeshi Hashimoto. Photos: MOL

Japanese utility Toho Gas and shipping company Mitsui OSK Lines (MOL) carried out a demonstration test to supply liquified natural gas (LNG)  to the to the tugboat Ishin at the Japanese port of  Nagoya.This marked the first LNG bunkering in the Port of Nagoya, and the test confirmed that LNG can be safely supplied to vessels at the port.LNG was transported via truck from the Toho Gas Chita-Midorihama LNG Terminal (Chita-shi…

First Commercial Cargo Loaded from Tango FLNG

FLNG Tango (File photo: Exmar)

Argentine oil company YPF SA has loaded its first commercial liquefied natural gas (LNG) cargo for export from a new floating facility, trade sources said on Friday.Argentina's export joins a wave of new supply flooding the spot market which has depressed Asian spot prices to their lowest in a decade for this time of the year.The state-owned firm issued a tender which closed on Nov. 6 to sell 2.1 trillion British thermal unit (Tbtu) of LNG for loading from FLNG Tango…

PGNiG Ups Stake in Duva Field, Norway

Pic: PGNiG

PGNiG Upstream Norway bought 10 percent shares in the PL636 and PL636B licenses in the North Sea from Pandion Energy, thus increasing its ownership in the Duva field to 30 percent.Duva oil and gas field (formerly Cara) is located in the Norwegian sector of the North Sea at a water depth of 360m. The field is jointly owned by Idemitsu Petroleum Norge (30%), Neptune Energy Norge (30%, operator), Pandion Energy (20%) and Wellesley Petroleum (20%).“Increasing our share in the deposit…

RWE Delivers its First LNG to Britain

Image: RWE

German utility RWE has delivered its first liquefied natural gas (LNG) cargo to Great Britain.The cargo, comprised of approximately 150 000 m3 of LNG, was regasified through a Milford Haven LNG Terminal, located close to RWE’s 2000 MW Pembroke B gas-fired combined cycle gas power plant (CCGT).The cargo has been sourced from the portfolio of RWE Supply & Trading, the subsidiary of RWE which is responsible for gas and LNG trading.The cargo was loaded from Sabine Pass Liquefaction Terminal in the Gulf of Mexico…

GasLog Sees Tighter LNG Shipping Market

Pic: GasLog

GasLog, an international owner, operator and manager of liquefied natural gas (LNG) carriers, is predicting a tighter LNG shipping market, as increasing United States LNG output combines with a seasonal uptick in demand for gas, resulting in rising demand for shipping and higher utilization of the global fleet.These underlying trends in the LNG commodity and shipping markets point towards a structurally tighter market through 2020 and into 2021.As of October 28…

Containership to Convert to Synthetic Fuel

Stefan Eefting, SVP PrimeServ, MAN ES (left) and Christian P. Hoepfner, Managing Director, Wessels Marine, announcing the plan to run the containership Wes Amelie on Synthetic Natural Gas. Photo: Greg Trauthwein

ROTTERDAM – Today in Rotterdam Wessels Marine and MAN Energy Systems announced an innovative project to convert the containership Wes Amelie to run on Synthetic Natural Gas (SNG).While SNG today is far to sparse and expensive to make it a near term commercial reality, this step forward is significant in that a ship outfitted with an MAN propulsion unit to run on LNG would need no modification to have it run on SNG…

Saudi Aramco Targets Zero Flaring

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Saudi Aramco said on Wednesday it was joining the World Bank's initiative to reduce gas flaring to zero by 2030 and said its flaring was already less than 1% of its total raw gas production in the first half of 2019.Aramco kick-started its initial public offering (IPO) this week, announcing its intention to float on the domestic bourse in what could be the world’s biggest listing, planned for later this year.The World Bank's Zero Routine Flaring initiative aims to reduce wasteful burning of natural gas at prod

Japan Marks 50 years of LNG Imports

File Image: AdobeStock / © Fotmart

Japanese gas buyers on Wednesday marked the 50th anniversary since the first cargo of liquefied natural gas (LNG) arrived in Japan, now the world's biggest importer of the fuel.The arrival of the cargo on Nov. 4, 1969 helped transform Japan's energy system, which had relied on oil, coal and gas from coal in an era of high growth, before nuclear power was developed.But Japan's energy situation is undergoing huge changes in the wake of the Fukushima nuclear disaster in 2011…

Chesapeake Energy to Reduce CapEx by 30%

U.S. oil and gas company Chesapeake Energy Corp said it expects its capital expenses to drop by about 30% in 2020 after it reported a bigger-than-expected loss on Tuesday because of a sharp drop in production and lower natural gas prices.Chesapeake said it expects capital expenditures of $1.3 billion to $1.6 billion for 2020 that is well below $2.11 billion to $2.31 billion set aside for 2019.The company also plans to cut its 2020 production costs as well as general and administrative expenses by about 10%…

U.S. Ingenuity Will Solve Climate Challenge: US DOE

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The United States can tackle threats to the climate through technological advances as fossil fuels will remain a priority for the U.S. government and business, the assistant secretary for fossil energy said on Tuesday.The world should look to the United States' ability to reduce its emissions, the Department of Energy's Steven Winberg said at an oil conference in South Africa a day after the Trump administration…

Russian Oil Output Down in October

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Russia lowered its oil output to 11.23 million barrels per day (bpd) last month from 11.25 million bpd in September, missing again its obligations under a global pact to curb production, energy ministry data showed on Saturday.The Organization of the Petroleum Exporting Countries, Russia and other producers - a group known as OPEC+ - have since January implemented a deal to cut oil output by 1.2 million barrels per day to support the market.According to Reuters calculations…