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Ophir Energy rejects Medco’s buyout offer
yesterday

Ophir Energy rejects Medco’s buyout offer

British energy company, Ophir Energy has informed that it has rejected Medco Energi’s International Tbk PT’s potential buyout offer. Indonesian oil and gas group made an unsolicited approach to buy Ophir in October last year offering 340 million pounds in cash. Meanwhile, Ophir’s shares lost almost half of their value after failing to find financing for its LNG project in Africa last year.

Turkey begins world’s biggest ship-to-ship LNG transfer
Jan. 3, 2019
Source: Anadolu Agency

Turkey begins world’s biggest ship-to-ship LNG transfer

The world's biggest ship-to-ship LNG transfers began yesterday in Turkey’s Mehmet Tecimen. The LNG transfer is between BOTAS's Floating Storage Regasification Unit (FSRU) and Al Sadd vessel, which brought LNG from Qatar. In a press briefing, oil utilities regional director of BOTAS said that the entire LNG transfer procedure will take two days.

Gazprom to go ahead with its LNG bunkering plan
Dec. 27, 2018

Gazprom to go ahead with its LNG bunkering plan

The Board of Directors of Russia’s Gazprom have agreed on the company’s LNG bunkering plan. The company will continue its work of developing infrastructure to produce and market LNG as a marine fuel. A group statement stated “Gazprom continues to build the LNG production, storage and shipment complex near the Portovaya compressor station. It is planned to use the plant’s output to, inter alia, bunker marine vessels in Russia.”

World’s largest FLNG begins production
Dec. 26, 2018
Source: Reuters

World’s largest FLNG begins production

Oil supermajor, Shell today informed about commencing production from Prelude floating liquefied natural gas (FLNG) facility in Australia. Currently the world’s largest floating production structure, Prelude is estimated to annually produce 3.6 million tonnes of LNG, 1.3 million tonnes of condensate and 400,000 tonnes of LPG. The project is operated by Shell where Japan’s Inpex Corp, Taiwan’s CPC Corp and Korea Gas Corp are other partners.

Petronas and Cheniere enter 20-year gas supply deal
Dec. 19, 2018

Petronas and Cheniere enter 20-year gas supply deal

Malaysian state-owned Petronas has entered into a 20-year deal with Cheniere Energy Partners LP to buy LNG from the sixth plant at the Louisiana export terminal. Under the agreement, Petronas has agreed to purchase about 1.1 million tons a year from the Sabine Pass facility. The firms have agreed to index the purchase price to Henry Hub, plus a fee.

Gazprom signs MoU with Itochu
Dec. 15, 2018
Source: World Oil

Gazprom signs MoU with Itochu

Russian gas giant, Gazprom has signed a Memorandum of Understanding (MoU) with Japan’s Itochu Corporation on the Baltic LNG project. Chairman of the Gazprom Management Committee and CEO, Itochu Corporation held a working meeting in St. Petersburg. With this agreement, Gazprom and Itochu have confirmed their interest in potential collaboration in the framework of the project.

Total awards Inpex its stakes in Ichthys for $1.6 billion
Dec. 14, 2018
Source: Reuters

Total awards Inpex its stakes in Ichthys for $1.6 billion

Total has decided to sell 4% stakes in its Australian Ichthys LNG project to Inpex. This procurement will be worth $1.6 billion following cost overruns. Total E&P President said “This transaction is part of our constant portfolio review to optimize our capital allocation,” He has also given assurance that Total will be committed to its Australian project and won’t give up its 26% stakes in the same.

Novatek launches small-scale LNG plant
Dec. 7, 2018

Novatek launches small-scale LNG plant

Novatek will start the production of LNG on the shore of the Baltic Sea in February, as stated by a contractor working at the project. Novatek is the largest non-state natural gas producer of Russia. The company will be building an LNG plant and terminal along with Gazprombank in the Baltic Sea port of Vysotsk. The plant’s capacity is expected to be 800,000 tonnes in 2021.

Shell’s Prelude FLNG will start at the end of 2018
Dec. 5, 2018

Shell’s Prelude FLNG will start at the end of 2018

According to sources, Royal Dutch Shell’s Prelude floating LNG unit is expected to start at the end of the year. The natural gas produced offshore northern Australia will be processed here and exported as LNG. Prelude’s capacity of annual LNG production is assumed to be 3.6 million tonnes. Apart from LNG, it will also process 1.3 million tonnes a year of condensate and 400,000 tonnes a year of LPG.

Qatar to quit OPEC in 2019
Dec. 3, 2018
Source: ALJAZEERA

Qatar to quit OPEC in 2019

Gulf nation, Qatar has announced withdrawal from the cartel of oil producing nations, OPEC. The announcement came from Qatar’s Energy Minister who said that Doha wants to concentrate on the production of natural gas in the upcoming years. Qatar is currently the world's biggest LNG supplier. With this decision, Qatar will become the first Gulf country to leave the bloc of 15 oil-producing countries.

US criticizes Russia over Yamal LNG transfer
Dec. 3, 2018
Source: World Oil

US criticizes Russia over Yamal LNG transfer

US Department expressed its disagreement on Russia’s Yamal LNG transfers in Norwegian waters. In a statement, US said "At a time when Russian gas comprises a growing proportion of Europe's energy imports, additional volumes of Russian gas will undercut Europe's energy diversification efforts.” The ship-to-ship transfers in Norwegian waters from Yamal, one of the world’s largest LNG terminals will create a dent in energy diversification efforts of Europe, believes US.

Argentina to join LNG exporter club
Nov. 22, 2018
Source: Oil Price

Argentina to join LNG exporter club

South American nation, Argentina will start its first-ever LNG exports in 2019. Gas will be exported from the Vaca Muerta shale play. Belgian energy shipping giant, Exmar will position its floating LNG unit (FLNG) to the Port of Bahía Blanca according to a 10-year deal with Argentina’s energy firm YPF. Argentina will now join the club of global LNG exporting nations.

CNOOC receives its first LNG cargo from Yamal
Nov. 20, 2018
Source: Reuters

CNOOC receives its first LNG cargo from Yamal

China’s CNOOC has received its first LNG cargo from the Russian Arctic gas project on November 11. The cargo was shipped from Yamal and was bought from Novatek, a Russian firm. Novatek also controls Yamal LNG along with Total, CNPC and the Silk Road Fund. Meanwhile, CNPC is also planning to buy at least 3 million tonnes of LNG from Yamal starting from 2019.

Linde secures contract for LNG plant in China
Nov. 17, 2018

Linde secures contract for LNG plant in China

China-based Inner Mongolia Huineng Coal Chemical Co Ltd Technology firm has contracted the Linde Group to supply a mid-scale LNG plant in Inner Mongolia. The new LNG plant will be seventh in line for Linde to date in China, and also the largest. Linde's Engineering Division will provide engineering, procurement and site services for the 750,000 tpa LNG plant. Linde will utilise its proprietary LIMUM(R) process for the plant.

ADNOC and Saudi Aramco join hands
Nov. 15, 2018
Source: Al Bawaba

ADNOC and Saudi Aramco join hands

The CEOs of Saudi Aramco and ADNOC have signed a strategic framework agreement on Monday for creating opportunities of cooperation in natural gas and LNG sector. Under this, both the companies will function together to assess investment opportunities in these sectors, and exchange knowledge in the growth markets. ADNOC’s CEO said “Increased cooperation between ADNOC and Saudi Aramco will ensure greater energy security and long-term economic prosperity for both nations,”

IEA predicts the future of gas
Nov. 13, 2018

IEA predicts the future of gas

On Tuesday, the International Energy Agency (IEA) informed that by 2030, natural gas might become the second largest energy source overtaking coal. The reasons behind this huge change would be an urge to bring down the air pollution and rise in the use of LNG. The organization also mentioned in its World Energy Outlook 2018 that the energy demand will jump more than a quarter between 2017 and 2040.

ONGC Videsh and Petronet set eyes on Tellurian project
Nov. 3, 2018

ONGC Videsh and Petronet set eyes on Tellurian project

India’s ONGC Videsh and Petronet LNG are jointly taking a move to buy stakes in Driftwood project in Louisiana proposed by Tellurian Inc's. The MD of Petronet said “We have moved slightly forward... we are evaluating it seriously and we are in serious discussion with them,” The two companies are jointly initiating this talk in order to grow India's pipeline network and increase the use of cleaner fuel.

Aramco and Novatek in talks
Oct. 24, 2018

Aramco and Novatek in talks

Energy giant Saudi Aramco is in talks with Russia’s largest gas producer Novatek, informed the Chief Executive of Saudi Aramco. The two majors of the industry are planning on investing in a large liquefied natural gas (LNG) project. If sources were to be believed, recently in an investment conference in Riyadh, Aramco signed deals in oil, gas, infrastructure and other sectors worth more than $50 billion.

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