Oil & Money 2018 – London, UK
Qatar Petroleum is prepared to proceed with a supersized LNG expansion even in the unlikely event that a deal is not struck with strategic partners and no firm offtake agreements are signed with buyers.
French multinational bank Société Générale has called for a new business model for LNG projects that enables banks to lend against the tangible value of LNG cargoes without developers first having to sell the entire plant output via long-term offtake agreements.
High oil and gas commodity prices have prevented the Spanish power sector from flipping in favour of gas-fired generation over coal despite the government lifting a key tax on natural gas.
Russia and India have agreed to deepen cooperation on LNG and gas projects, as part of a wider geopolitical push by Moscow to spread Russia’s global influence while granting New Delhi an opportunity to boost revenue from Arctic investments.
The share of natural gas could either spike or collapse in the global primary energy mix, according to wildly varying climate change scenarios that limit global warming to 1.5°C published by the UN’s Intergovernmental Panel on Climate Change.
Offshore drillers Ensco and Rowan have agreed to a USD 12 billion merger as industry players look to consolidate portfolios in a market gaining momentum on the back of the crude oil price rally.
US & Canada
Canada – The 670-km feedgas pipeline for the LNG Canada plant faces opposition from a First Nation group that claims to be the “true authority” in terms of tribal land rights for a section through which the line will run.
US – Diversified Oil & Gas has acquired Core Appalachia Holding in a deal worth USD 183 million.
Algeria – Total concluded two new agreements with Sonatrach last week, a new concession contract to jointly develop a field and a shareholder agreement to create a joint venture called STEP.
Libya – BP is hoping to relaunch exploration at beleaguered assets in Libya after signing an agreement to hand over operatorship to major Libyan producer Eni, as such activity involving the UK major’s assets stalled since 2014 due to security concerns.
Vietnam – Delta Offshore Energy has reportedly taken over a proposed 3 GW LNG-to-power project in southern Vietnam from Dallas-based Energy Capital Vietnam (ECV), some five months after ECV signed a memorandum of understanding to develop it.
Australia – AGL Energy has been requested to complete an environmental review on a proposed LNG import project in the southeastern state of Victoria, diminishing hopes that the project – envisaged to plug a potential gas supply gap in the state – will come online in 2021.
Woodside has selected Bechtel as the preferred contractor to undertake the expansion of the Pluto LNG plant.
Cyprus – Cyprus has finally gone to market for a floating storage and regasification unit (FSRU), issuing a long-awaited tender at an opportune moment with numerous unchartered vessels laying idle and others poised to become available soon.
Italy – Po Valley Energy’s proposed disposal of two onshore oil fields in Italy has collapsed after the largest shareholder of proposed buyer, Delta Energy, blocked the deal.
Norway – Flex LNG is considering purchasing five newbuild LNG carriers currently under construction in South Korea and set for delivery in 2020-21.
UK – Serica is on course to complete the acquisition of interests in the Rhum, Keith and Bruce gas fields after US authorities granted a sanctions waiver for Rhum – allowing production to continue from the UK North Sea field for another year.
Shell has hitched wagons with independent producer Rockrose Energy to take a final investment decision (FID) on Arran, marking the Anglo-Dutch major’s fourth UK North Sea FID of 2018 and Rockrose’s first investment in a field in the pre-production phase.
Cuadrilla is set to commence fracking for the first time in the UK since 2011 after a High Court judge dismissed a last-minute request for an injunction against drilling at the company’s Preston New Road site in Lancashire.
The UK Competition and Markets Authority (CMA) has cleared the proposed merger between SSE and Npower’s retail operations, which will create the second-largest energy supplier in the country.
Latin America & Caribbean
Argentina – Argentina is mulling two options to kick off LNG exports as early as 2019 that include chartering Exmar’s Caribbean floating LNG barge and constructing a 10-mtpa terrestrial export facility, reports suggest.
Russia & CIS
Russia – Novatek has made a gas and condensate discovery following drilling in the shallow waters of the Ob Bay by subsidiary Arctic LNG 3.
Our three titles – Gas Matters Today, Gas Matters and LNG Business Review – tackle the biggest questions on global developments and major industry trends through a mixture of news, profiles and analysis.
Gas Matters Today
Gas Matters Today's news analysis keeps you fully briefed on the relevant people, companies and events shaping the gas, LNG and wider hydrocarbon industries.
Gas Matters provides essential context for the global gas industry and wider energy complex, pairing insider insight with broader themes - from geopolitics to macroeconomics to regulatory risk.
LNG Business Review
LNG Business Review gives the insiders view on issues LNG mangers are facing today, written by Gas Strategies' network of LNG experts.Stay current and search the past
Access news and features published daily*, plus a fully searchable archive.Available when you need it
Save stories, features, news and interviews and also read offline in the Gas Strategies app.Stay up-to date
Get real-time access to articles as they are published with alerts for the latest content.Flexibility
Access content via mobile or tablet, dedicated apps, web browser or customise a downloadable pdf.Subscribe
For more information please contact the subscriptions team on +44 (0) 20 7332 9981 or [email protected]
*Monday to Friday, excluding UK public holidays.