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RWE, a German utility has announced that in order to import LNG, the company at present has gained access to considerable capacity of German terminal. RWE’s executive said "LNG remains a key growth area for RWE." Recently, Qatar Petroleum has informed that it is in talks with RWE and Uniper regarding a local LNG terminal. An agreement between RWE and German LNG Terminal highlights the company’s commitment to the fuel.
India’s biggest state-run refiner, IOCL yesterday took major decisions in the Annual General Meeting (AGM). The oil guzzler is planning a capital expenditure of Rs 22,000-crore in the financial year 2019. IOCL will spend Rs 6000 crores on the upgradation of its refineries to catch up with BS-VI requirements. The firm is also closing in on the commission of the Ennore-Manali LNG pipeline by the end of the year.
Hess Corporation-owned Shannon LNG has chosen New Fortress Energy to execute the development of the LNG terminal project in Ireland. Re-gasification of LNG received from tankers will be carried out, before delivering it into the national gas network in Ireland. The gas delivery will be done via the 26 km pipeline linked to a connection at Foynes. Operations at Shannon LNG Terminal are expected to commence from 2020.
In an undisclosed amount, Shell acquired French supermajor, Total’s stake in the Hazira LNG terminal and Port in Gujarat. Total owned a 26% stake in the project, through its wholly-owned subsidiary, Total Gaz. The move is consistent with Shell’s strategy to hold a deeper presence in India’s gas value chain. Earlier, Shell Gas B.V and Total Gaz jointly owned Hazira LNG and Port. The deal is under regulatory considerations.
Sinopec Corp has joined hands with Zhejiang Energy Group Co Ltd for LNG terminal in east China. It is an agreement of 3 million tonne-per-year whose first phase is set for operation at end-2021. 4 tanks with a capacity of 200,000 cubic meters of LNG each, a berth of capacity 30,000 cubic meters to 266,000 cubic meters and a 26-km pipeline, these are included in the project.
The state oil firm of China, CNOOC informed yesterday that the company is expanding its liquefied natural gas receiving terminal in the southern province of Hainan. The oil major is looking to boost sales of gas carried by trucks or smaller tankers, ahead of a demand surge in winter. The expansion will increase the terminal's annual handling capacity of 1.32 million tonnes and is expected to be completed by October end.
A senior Petrobangla official has confirmed the docking of the Excelerate Energy-owned FSRU vessel, Excellence at the facility in Bangladesh. Excellence carries 136,000 cubic meters of Qatar lean LNG. Technical issues and rough seas had stranded the vessel for more than three months. LNG injection into the pipeline network for consumption will begin from August 11. With this, Bangladesh will be enlisted with LNG importing countries in the world.
India's biggest LNG importer, Petronet LNG Ltd has submitted a proposal to the Bangladesh government, with techno-economic details, for the installation of an LNG import facility in the country. The investment in the project has been projected to be $1 billion. Gas demand in Bangladesh has been estimated to more than double to 45 million tonnes in the coming 20 years.
Pertamina has terminated the construction of $800M Bojonegara LNG receiving terminal in Indonesia. The Indonesian oil major had joined hands with the Bumi Sarana Migas (BSM) for the construction of the project while Tokyo Gas had to carry out the engineering and design. Pertamina’s forecast of a sharp increase in gas demand after 2020 was proven wrong with the country still relying on cheap coal.
GSPC is looking towards the commission of an LNG import terminal of 5 million tonnes a year capacity at Mundra, India. The terminal, to be operational in the coming two-three months, will have an additional 10 million tonnes per annum expandable capacity. GSPC, through its subsidiary GSPL, partnered with Adani Group on this project and will seek a strategic partner in the near future.
Phoenix Petroleum has stated that it has signed a MoU with Chinese-CNOOC Gas and Power Group Co Ltd for the development of a LNG terminal in Philippines. The companies have mutually agreed to ‘study, plan, and develop’ the LNG project, which will result in a broadened portfolio for Phoenix Petroleum. Several power plants with a total generating capacity of more than 3,000 megawatts are facing problems due to LNG shortage.