01
Oct
2018

Weekly news roundup (24-28 September)

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Analysis

Qatar Petroleum has committed to a fourth mega-train that will boost Qatar’s overall liquefaction capacity to 110 mtpa and send a clear signal that the country intends to remain the world’s top LNG exporter.

International

Total is seeking to consolidate its position as the world’s second largest LNG player by maximising portfolio flexibility by leveraging assets acquired from compatriot Engie last year.

Egypt took a major step towards winning the race to create a Mediterranean gas hub after Delek Drilling and Noble Energy secured two routes to export Israeli gas to Egypt.

The Oil and Gas Climate Initiative – a coalition of global energy companies – has announced a target to reduce collective methane intensity from upstream operations by 20% by 2025.

US & Canada

Canada – Shell’s LNG Canada project appears to be on the brink of taking a final investment decision after the board of PetroChina approved a USD 3.5 billion capital investment in the LNG Canada project. This came after the 13 mtpa liquefaction project reportedly secured an exemption from Canadian steel tariffs that might have again delayed or even scuppered investment.

US – Liquefaction start-up Pointe LNG have returned to land in Louisiana they previously relinquished and requested to start the federal pre-filing review of a new proposed 6 mtpa facility.

Enable Midstream has become the latest US outfit to announce plans to build an outlet for growing US gas production, signing a non-binding 20-year agreement with a Gulf coast LNG project for 1 Bcf/d of capacity on its Gulf Run pipeline in Louisiana.

McDermott has been given the green light to build a new 993 MW CCGT in south-east Texas.

Africa

Seychelles – The government is looking for international partners to develop an unlikely LNG-to-power scheme, after ignoring advice from the national energy commission that the archipelago’s tiny power demand cannot support gas-fired generation.

Asia Pacific

Myanmar – Total has made a third gas discovery offshore Myanmar that takes the estimated cumulative resource of its A6 block to 2-3 Tcf, which could enable gas exports to neighbouring markets.

Australasia

Australia – The government of Queensland has awarded exploration licences covering some 6,600 km, some of which is understood to be in the Surat and Bowen basins.

Europe

Belgium – Belgium is facing a 2 GW power supply crunch this winter due to extended nuclear outages, with the country’s energy ministry calling on gas-fired power generators to increase output to bridge the gap which is set to have wide reaching impacts across Europe.

Finland – Wartsila has held a ground-breaking ceremony for its 30,000 cm capacity small-scale Hamina LNG terminal.

Romania – National TSO Transgaz has bowed to pressure from the European Commission and offered to increase export capacity to Bulgaria and Hungary – despite indications that Romania has a gas deficit that could cap exports to neighbouring countries.

UK – Total has unearthed what it called a “major” gas find offshore the West of Shetland, which could boost the country’s gas reserves by 15% if proved and help the company save face after sinking major capital into an underperforming area.

Late-life or stranded gas fields located near offshore wind turbines on the UK continental shelf could find a route to market by taking advantage of under-utilised power cables, the Oil and Gas Authority said in a report.

BP has received regulatory approval for its USD 260 million Vorlich project in the central North Sea.

Latin America & Caribbean

Argentina – Argentina started exporting electricity to Brazil last week for the first time in 15 years, enabled by a boost in Vaca Muerta shale production that resulted in excess volumes during the low-demand Argentine spring period.

Brazil – Brazil has imported Latin America’s first LNG cargo of the Yamal project as the South American country seeks to plug the power gap left by depleting hydro reserves following a prolonged period of drought.

Petrobras has drawn a close to a long-running corruption investigation after agreeing to pay a “hefty” fine to US and Brazilian authorities, with market observers suggesting the company might turn to divestments to foot the bill.

South Asia

India – India’s largest gas company GAIL has sought to quell fears of electric vehicles hampering uptake of their natural gas-fired rivals in South Asia’s largest economy, GAIL marketing director Gajendra Singh said in a recent interview with Gas Strategies.

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