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Sempra LNG recently joined the Collaboratory for Advancing Methane Science (CAMS), an industry-led research consortium formed to better characterize and understand methane emissions. Sempra LNG joins CAMS members Cheniere, Chevron, Equinor, ExxonMobil, Pioneer Natural Resources, and Shell. CAMS members work collaboratively to provide actionable, transparent methane science to contribute to the understanding of methane emissions across the oil and gas value chain and inform mitigation strategies.
India and china lead the recovery in Liquified Natural Gas(LNG) following the outbreak of the Covid-19 pandemic, according to Royal Dutch Shell’s annual LNG Outlook published today.The company's are expecting that the demand for LNG is only going to increase henceforth as world over, economies are switching to carbon neutrality in the next few years.China's announcement of a target to become carbon neutral by 2060 so it's expected to continue driving up the LNG demand
Equinor has decided to write down book value of its Tanzania LNG project (TLNG) on company’s balance sheet by 982million USD. Equinor is operator with 65% participating interest, along with ExxonMobil’s working interest of 35%. TPDC has the right to participate with 10% interest. Equinor made nine gas discoveries in Block2 offshore Tanzania with estimated volumes of 20Tcf of GIP.
Baker Hughes Co. expects as many as four liquefied natural gas projects globally to move to a final investment decision this year amid a global revival of the fuel after last year's pandemic-induced collapse. By 2030, we still need to have capacity of approximately 650 to 700 million tons of LNG in place," CEO Lorenzo Simonelli told analysts and investors.
Mozambique LNG is one of several projects being developed in the country’s northern most province of Cabo Delgado after one of the biggest gas finds in a decade off its coast. Together, the projects are worth some $60 billion. The project includes direct/covered loans from eight credit agencies , 19 commercial banks, and a loan from the African Development Bank. Sealing the Total project financing is a win for Mozambique’s government as it tackles security challenges.
Qatar has signed a deal worth around $20 billion with South Korean shipbuilders to help cement its position as the world’s largest producer of liquefied natural gas. The Gulf emirate entered into agreements with Daewoo Shipbuilding & Marine Engineering Co., Hyundai Heavy Industries Co. and Samsung Heavy Industries Co. The three Korea-based firms will reserve a “major portion” of their LNG ship-construction capacity for QP through 2027.
Struck by weak demand and depleting storage facilities, the world’s biggest exporter of LNG may soon have to: curb output or ignite a battle for market share that has the potential. Qatar began redirecting LNG cargoes away from Asia in February, where the coronavirus was shattering sales, and sending them to Europe. That quick fix didn’t last, as the pandemic left Qatar struggling for places to park unsold cargoes.
With the US natural gas prices topping the prices chart in Europe and Asia, the buyers have started cancelling the cargos. The buyers of the two continents have already cancelled the loading of around 20 cargoes from the United States in June. Henry Hub benchmark in Louisiana settled over both the Japan/Korea Marker (JKM) according to the most recent price data.
The energy major, BP has issued force majeure to Golar LNG. Golar said that BP is expecting one year delay for the African Tortue Ahmeyim project. BP further sees no possibility to reduce the time frame due to the pandemic. "While the full impact cannot yet be determined, as a reasonable and prudent operator, BP is engaging transparently and collaboratively with key stakeholders to mitigate risks", said BP's spokesperson.
In the wake of the crash in energy prices, oil supermajor Shell Plc has withdrawn from a major U.S. liquefied natural gas (LNG) export plant under development. The move quickly followed Shell's partner, Energy Transfer postponing its final decision on whether to move forward with the project to next year. Analysts have forecasted a number of under-development projects not moving into execution mode due to sinking energy demand.
Indonesian state electricity company, PLN has inked an initial deal to purchase 167 BBTU of gas per day from PT Pertamina for 20 years. The deal comes as PLN reduces the use of diesel fuel. Energy major, Pertamina will provide LNG to PLN's power plants with a combined capacity of 1,870 megawatt, across 52 sites within two years.
Florida-based engineering and consulting solutions provider, NV5 Global Inc. has announced the award of a $34 million EPC contract for the liquefaction system upgrade at an LNG facility. The project will bring in a new liquefier to substitute an older system for increasing the capacity and improving reliability, safety, and ease of operation. The project is slated for completion in approximately 18 months.
According to the sources, Petronet LNG and Tellurian Inc, US, are planning to sign a $2.5 billion deal. The deal will be finalized during US President Trump's maiden visit to New Delhi later this month. Petronet will invest for five years in the Driftwood LNG export project in Louisiana. A preliminary non-binding deal was signed by the two companies in September last year.
Engineered polymer solutions provider, Trelleborg has concluded the acquisition of Signum Technology Ltd and its subsidiary companies Gall Thomson, KLAW LNG, KLAW Products, and Vee Bee Filtration. The acquisition move will add Signum's safety-critical solutions, including Marine Breakaway Couplings (MBCs) and safety solutions for LNG transfer systems, to Trelleborg’s product portfolio. Signum's acquisition is in line with Trelleborg’s strategy to fortify its position as a system provider.
Angola’s national oil, gas and biofuels agency ANGP has informed about forming a consortium with five international oil companies including Eni and Chevron. The consortium will work on developing liquefied natural gas (LNG) for the Soyo plant. With an initial cost of $2 billion, the project is anticipated to begin production by 2022, an ANGP spokesman said.
Woodside will delay the final approval date for its mega Browse gas project. Also, the company has decided to bring in the plans to sign off on its smaller Scarborough project. Woodside is focusing on the final investment decision on the $20.5 billion Browse project in the first half of 2021. In early 2020, it will sign off on the $11 billion Scarborough gas project and Pluto LNG expansion.
Energy giant ExxonMobil has signed a memorandum of understanding (MoU) with Indian downstream major Indian Oil Corporation (IOC). The companies have decided to collaborate in order to expand liquefied natural gas (LNG) initiatives in India. “This initiative focuses on exploring new models of delivering cost-effective natural gas in India where it is most needed to complement traditional pipelines”, said ExxonMobil.
Petronet's board disapproved $2.5-bn US LNG deal in April-May, revealed the board post a formal agreement between India and US. This decision was taken looking at the changing global gas market dynamics. According to the officials, currently, the deal with Tellurian is "far from closed and will require negotiations". The word in the market is that the deal will only go through if the government would push for it.