Qatar Petroleum has unveiled plans to raise its LNG production capacity by 2027 after doubling its proven gas reserves, but more LNG from Qatar is likely to hurt early-stage liquefaction projects at the higher end of the cost spectrum.
The Trans Adriatic Pipeline has kicked off the commissioning process for the 878 km pipeline, which is the third and final section of the Southern Gas Corridor, by introducing first gas into a section in north-east Greece near the Turkish border.
Nigeria’s government has failed in its bid to overturn a UK court ruling, requiring Abuja to pay USD 200 million to ensure a stay of execution over the seizure of assets in the USD 9.6 billion arbitration case involving an aborted gas project and engineering outfit P&ID.
Equatorial Guinea – The government has signed a cooperation pact with Swiss trading house Vitol to help develop a strategic “gas megahub”, intended to service growing demand in west Africa and in global LNG markets and monetise stranded assets.
Mozambique – The African Development Bank has become the latest financial institution to pledge capital to the Total-led Mozambique LNG project by signing off a USD 400 million long-term loan to the project, which it expects to reach financial close in H1’20.
South Korea – KOGAS and utility KEPCO have finished building an LNG storage, regasification and distribution facility on the island of Jeju, which had pledged to end its dependence on fossil fuels and become the world’s first “carbon free island” by 2030.
Vietnam – South Korea’s GS Energy is looking to build its first international LNG terminal after signing a MoU with investment firm VinaCapital to build a 3 GW LNG-to-power project in the south of Vietnam, despite the LNG-to-power space already being congested.
Papua New Guinea – The Total-led Papua LNG project has hit a roadblock after project partner ExxonMobil refused the terms presented by Papua New Guinea’s government to develop the P’nyang gas field, which would feed the proposed liquefaction project.
Central & South America
Brazil – National oil company Petrobras has set highly ambitious production targets in its 2020-24 strategic plan in a bid to tame its burgeoning debt pile.
EU – The European Parliament has declared a “climate and environmental emergency” and urged the European Commission to ensure that all legislative and budgetary proposals are fully aligned with objectives to limit global warming to 1.5°C.
Netherlands – A Mitsubishi-led consortium outbid rivals Shell and private equity firm KKR to strike a deal to acquire Dutch utility Eneco for USD 4.5 billion in a transaction that will see Eneco become the centre of European operations for long-time partner Mitsubishi.
UK – National Grid and SSE, which own the UK’s entire gas and power transmission network, have established offshore holding companies in a bid to protect investors from re-nationalisation, should the Labour party win December’s general election.
Cyprus / Turkey – Turkey is reportedly talking to officials from the Turkish-Cypriot administrated area of northern Cyprus regarding the construction of an 80-km subsea pipeline that would deliver gas to the community by 2025.
Libya / Turkey – Turkey and Libya have signed an MoU regarding maritime borders that Greece has ridiculed for purportedly failing to acknowledge the hydrocarbons-rich waters around Crete as Greek territory, prompting a withering response the European Commission.
US – New York governor Andrew Cuomo has claimed victory in his feud with National Grid after the utility buckled to his threat of revoking its licence to operate in the state by agreeing to lift its remaining moratorium on supply gas to new customers.
Gunvor has doubled the volume of LNG that it will buy from the Commonwealth LNG export project, agreeing to lift 3 mtpa and market the 8.4 mtpa Louisiana liquefaction facility’s remaining volumes to global buyers.
Williams Co is suing the Railroad Commission of Texas for awarding a gas flaring permit to shale producer Exco Resources in a case designed to force courts to rule on the legality of the “gas economics” argument used to justify flaring exemptions.
US emissions from gas consumption rose 10% in 2018 compared to the previous year, contributing to an overall 2.7% increase in energy-related emissions, according to EIA findings that challenge notions that continuing increases in gas consumption will lead to overall reductions in emissions.
Russia & CIS
Russia – Gazprom has sold 3.59% of company stock to a single anonymous bidder for USD 2.9 billion in a sell-off that some have seen as a move towards privatisation, although reports suggest an ally of president Vladimir Putin bought the stake for a discounted price.
A section of a Gazprom-operated subsea pipeline carrying gas from major producing fields in the Yamal Peninsula has resurfaced from the seabed for the second time in two years, reports indicate.
Gazprom has lost the first of three arbitration challenges against Naftogaz after the Svea Court of Appeal in Sweden upheld an earlier arbitration award in favour of the Ukrainian firm regarding the pair’s previous gas supply deal.
Russia’s finance ministry has gone against the wishes of president Vladimir Putin and axed state funding for Novatek’s Arctic LNG projects, according to media reports.
India – The Indian Energy Exchange intends to launch the country’s first gas exchange in March 2020 after several years of planning, according to Indian media reports.