Chevron Greenlights Gorgon LNG Expansion
Chevron Corp will proceed with the second stage of its giant Gorgon liquefied natural gas (LNG) export plant off the northwest coast of Western Australia, the company said on Saturday.Chevron and its joint venture partners plan to sink 11 new wells in the Gorgon and Jansz-Io fields and build offshore pipelines and subsea structures to pipe the gas to the nearby 15.6 million tonne a year LNG plant on Barrow…
Golar LNG Names Smith as CEO
Golar LNG Ltd said Oscar Spieler would replace Gary Smith as chief executive, as the natural gas shipping company realigns operations, including building up its presence in the Brazilian power generation market. The company said on Tuesday it was in talks with a private equity firm for investments in Golar Power, its unit that holds an interest in a 1.5 gigawatt power station in Sergipe, Brazil. Spieler…
Yamal LNG Project on Track, Says Russia's Sberbank
Russia's Yamal LNG liquefied natural gas project is on track and will be profitable even with low oil and gas prices, Sberbank Chief Executive German Gref said on Tuesday. "This is the most expensive project, (it) will completely change the gas economy of the country," he told President Vladimir Putin. (Reporting by Denis Dyomkin; writing by Vladimir Soldatkin)
Novatek Shareholders Invested Around $10 bln in Yamal LNG
The shareholders in Yamal LNG, a liquefied natural gas project led by Russia's No.2 gas producer Novatek, have invested around $10 billion into the venture, Novatek Chief Financial Officer Mark Gyetvay told a conference call. The other shareholders are France's Total and China's CNPC. Last month, Novatek also signed a framework agreement allowing China's Silk Road Fund to obtain a 9.9 percent stake in Yamal LNG. (Reporting by Katya Golubkova and Denis Pinchuk)
"Yamal LNG Has High Chance of Attracting Financing"
The Yamal Liquefied Natural Gas project in Russia's far north has a high chance of attracting financing by the end of this year, Russian Energy Minister Alexander Novak said on Saturday, RIA agency reported. Novak said the financing would include $12 billion that has been offered by Chinese banks, RIA reported. "Decisions by the banks have already been taken. Now all that is left is to conclude contracts," it quoted Novak as saying. (Reporting By Jason Bush; Editing by Christian Lowe)
To Frack or Not to Frack? Australia's NatGas Dilemma
The decision by the government of Australia's Northern Territory government to allow the resumption of fracking for natural gas will do little to immediately solve the country's energy woes, but will likely sharpen political battle lines. The territory's government said on April 17 that it has lifted a near two-year moratorium on hydraulic fracturing, known as fracking, accepting the recommendations of its own commission of inquiry into the practice.
Inpex to Sell 25% of Malaysia Oil Block Stake to Santos
Japan's Inpex Corp said on Monday it has agreed to sell a 25 percent stake in the deep water Block S in offshore Malaysia to Australian oil and gas producer Santos Ltd. Japan's biggest oil and gas producer, which will reduce its stake in the block to 50 percent after the transfer, serves as the operator in the block located in eastern Malaysia. An Inpex spokeswoman declined to comment on the price. Inpex has conducted a three-dimensional seismic survey and geological studies in Block S…
Total Weighs Impact of New Russia Sanctions
France's Total said on Monday it was assessing the consequences of the new set of sanctions on Russia, but that it was continuing work on Russian projects as planned. On Friday, the United States imposed sanctions on Gazprom , Gazprom Neft, Lukoil, Surgutneftegas and Rosneft, banning Western firms from supporting their activities in exploration or production from deep water, Arctic offshore or shale projects. Lukoil was planning to drill for tight oil in Siberia with Total.
BP, Reliance Move Ahead in Deep Water
BP and Reliance Industries Limited (RIL) today announced the sanctioning of the ‘Satellite cluster’ project in Block KG D6. The companies are moving forward to develop the Block’s discovered deep-water gas fields in an integrated series of projects, bringing new gas production for India. The ‘Satellite cluster’ is the second of three projects in the Block KG D6 integrated development. The first of the projects, development of the ‘R-Series’ deep-water gas fields, was sanctioned in June 2017.
BNDES Cuts Brazil Oil-sector Investment Outlook
Brazil's state development bank BNDES said on Friday it cut its outlook for 2015-2018 oil and natural-gas sector investment by nearly 30 percent to 360 billion reais ($111 billion) from 509 billion in its previous estimate. The decline is expected to be led by lower spending by state-run Petroleo Brasileiro SA which is grappling with a huge corruption scandal. While requests for oil and natural-gas project finance shrank in the first months of 2015…
Apache: Exiting LNG Projects as 2Q Profit Falls
Apache Corp, a U.S. oil and gas company under pressure from activist investor Jana Partners, reported lower quarterly profit on Thursday and said it plans to sell its interest in two liquefied natural gas projects (LNG). Apache said it intends to completely exit the Wheatstone LNG project in Australia and Canada's Kitimat LNG project. Apache is also evaluating its international assets and exploring multiple opportunities, including a potential separation, it said.
Cameroon Oil Output up Nearly 20% This Year
Cameroon's crude oil production rose 19.4 percent between January and April, compared with a year earlier, to 12.3 million barrels, the state oil company SNH said on Wednesday, without giving a reason for the higher production. The Central African country has been pumping oil since 1977, hitting a peak of 185,000 barrels per day (bpd) 10 years later before slipping. National Hydrocarbons Corporation (SNH) said in a statement that gas production…
Gazprom Signs Memorandum on Iran LNG
Russian gas giant Gazprom said on Wednesday it had signed a memorandum on possible cooperation in a liquefied natural gas project in Iran. It said the memorandum was signed with Iranian Oil Industry Pension, Saving and Staff Welfare Fund. Iran LNG is designed to have two lines of 5.25 million tonnes of annual capacity, each with a view of eventually increasing total production to 21 million tonnes per year.
Chevron Delays Indonesia Deepwater Gas Decision
Chevron Corp said on Friday it has made a final investment decision (FID) on the first stage of a deepwater natural gas project in Indonesia, but delayed a decision on the second phase of the multi-billion dollar project. The Chevron-operated Indonesia Deepwater Development (IDD) project, which includes the Bangka, Gendalo, Gehem, Gandang and Maha fields off eastern Borneo, is the country's first ultra-deepwater natural gas integrated project.
First Cove Point LNG Lifting Departs Maryland
The first contractual liquefied natural gas (LNG) cargo from Dominion Energy Inc's newly constructed Cove Point LNG export plant in Maryland in the United States left the facility on Monday, Thomson Reuters Eikon ship tracking data showed. The cargo is expected to act as a drag on spot LNG prices <LNG-AS> as it coincides with the resumption of exports of the fuel from the Papua New Guinea LNG plant, which had been shut following a powerful earthquake.
Tokyo Gas, Alaska Gasline Ink LNG LOI
Tokyo Gas Co Ltd said on Tuesday it signed a letter of intent (LOI) with Alaska Gasline Development Corporation (AGDC) regarding the sale and purchase of liquefied natural gas (LNG). The move follows China's biggest state oil company Sinopec, one of the country's top banks and its sovereign wealth fund agreeing last month to develop the $43 billion natural gas project in Alaska, as the cash-poor U.S. state seeks to revive its dwindling energy industry.
EXXONMOBIL's Alaska LNG Project Moves Forward
The Alaska LNG Project has marked a major milestone with the recent submission of a formal request to the Federal Energy Regulatory Commission (FERC) to start the pre-file process for the major natural gas project. The FERC pre-file milestone sets the stage for the activity associated with the environmental review required for the siting, design, and permitting for construction of the proposed project. This is another important step in the progression of the Alaska LNG project.
Gazprom Won't Rule Out Post-Sanction Iran LNG Deals
Russia's top natural gas producer, Gazprom, may take part in liquefied natural gas projects in Iran once sanctions against Tehran are lifted, Gazprom's deputy Chief Executive Officer Alexander Medvedev said on Friday. "Gazprom does not rule out its participation in these projects under certain conditions," Medvedev told reporters. Russia has stepped up efforts to strengthen ties with Iran and announced an oil-for-goods programme in which the Islamic Republic would export up to 500…
Shell Philippines Will Fight $1.1 bln Tax Claim
The Philippine unit of Royal Dutch Shell will exhaust all legal means, including international arbitration, to challenge a $1.1 billion tax claim against its Malampaya natural gas project, a company official said on Friday. Shell Philippines Exploration B.V, is the operator of Malampaya in the southwestern Philippines, along with partners, Chevron Malampaya LLC, a unit of the U.S. energy firm and the Philippines' state-owned PNOC Exploration Corp.
APPEA Welcomes Scientist's Report
The report released by the New South Wales Chief Scientist should give the green light to the responsible development of the state’s natural gas resources. The report states that the technical challenges and risks posed by the industry can be safely managed and notes the high standards of engineering and professionalism in natural gas companies. APPEA welcomes the Chief Scientist’s observations that the…