Tuesday, March 31, 2020

Pacific Basin News

Pavilion Acquires LNG assets of Iberdrola

(L to R) Mr Frédéric H. Barnaud, Group CEO of Pavilion Energy and Mr Aitor Moso, CEO of Liberalised Business, Iberdrola. Photo: Pavilion Energy

Singapore-based LNG company Pavilion Energy said its wholly owned subsidiary Pavilion Energy Trading & Supply has agreed to buy Spanish energy company Iberdrola's portfolio of liquefied natural gas (LNG) assets.The portfolio comprises about 4 million tonnes per annum (mtpa)…

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…

Total, Exxon Sign for Papua New Guinea LNG Project

Map: Total

French energy giant Total and its partners ExxonMobil and Oil Search have signed the Gas Agreement with the Independent State of Papua New Guinea defining the fiscal framework for the Papua LNG Project.The Papua LNG project Gas Agreement allows the partners to enter the…

$13 Bln Papua LNG Project Pushes Ahead

France's Total and its partners signed a long-awaited deal with Papua New Guinea on Tuesday that will allow initial work to start on a $13 billion plan to double the country's liquefied natural gas exports.Developing the Pacific island nation's gas reserves is seen as crucial to its economy as LNG is its biggest export earner…

GasLog: LNG Demand Grew 9% in 2018

Image: GasLog

Liquefied natural gas (LNG) is expected to have increased by 9%, from 288 million tonnes per annum (mtpa) in 2017 to 313 mtpa in 2018, said GasLog.The Monaco-based owner, operator and manager of LNG carriers said in a stock exchange announcement that China’s LNG imports increased by approximately 16 mtpa…

Sempra Energy Signs New Mexican LNG Terminal

Pic: Sempra Energy

Sempra Energy, the US group that aims to build a liquefied natural gas (LNG) export facility near Ensenada, Mexico, to serve customers in Asia moved closer to becoming reality as the natural gas utilities holding company  announced agreements with three international firms.The…

LNG Trade to Increase by 10% in 2020

Pic: Golar LNG Limited

Dominated by new U.S. volumes, liquefied natural gas (LNG) trade is expected to increase by 10 percent per annum from 290 million tons in 2017 to around 388 million tons in 2020, said Golar LNG.According to industry analysts, ton mile demand is expected to increase by more than 40 percent over the same time frame.

LNG Tankers Divert to China as Winter Demand Spikes

file Image: In a photo taken earlier this Autumn, an LNG tanker transits the Med (CREDIT: Robert Murphy)

China's LNG demand soars as tankers from the Americas divert to China. Liquefied natural gas (LNG) is being re-exported to China from Japan and tankers are being diverted from as far away as Brazil, with traders rushing to find cargoes in the face of a supply crunch in the world's No.2 economy as winter bites.

Bhutani Joins Solomon Associates as E&P Analyst

Experienced E&P data analyst brings expertise in upstream benchmarking methodologies to Solomon Associates. Solomon Associates (Solomon) has announced  that Anish Bhutani has joined the company as a full-time E&P Analyst based in Solomon’s Calgary office. Bhutani will…

Golar Appointed as Midstream Partner for Fortuna FLNG Project

Golar LNG has signed a binding Heads of Terms with Ophir Energy Plc for the provision of the GoFLNG vessel Gimi. The Heads of Terms has been approved by Ophir's Equatorial Guinea, Block-R upstream partner GEPetrol, and will be formally ratified by GEPetrol next week. The agreement will be structured as a 20-year tolling contract…

Golar Appointed Midstream Partner for Fortuna FLNG Project

Golar LNG has signed a binding Heads of Terms with Ophir Energy Plc ("Ophir") for the provision of the GoFLNG vessel Gimi. The Heads of Terms has been approved by Ophir's Equatorial Guinea, Block-R upstream partner GEPetrol, and will be formally ratified by GEPetrol next week.

Kalleklev to Head DNV GL's SE Asia Oil & Gas

Arve Johan Kalleklev regional manager for Oil & Gas in South East Asia

Energy demand in South East Asia is expected to grow at twice the rate of the rest of the world. DNV GL has appointed Arve Johan Kalleklev regional manager for Oil & Gas in South East Asia just as the company is establishing a dedicated LNG and Gas Consulting unit in Singapore.

Coal Falls on Weak Chinese Demand, 2-Year Oil Low

Thermal coal prices dropped on Thursday as weak demand in top importer China pulled down prices in Asia while European contracts fell as Brent crude oil futures hit two-year lows. Australian coal cargoes for delivery from its Newcastle terminal in October were trading at $66 a tonne by 1320 GMT on Thursday…