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Monday, March 8, 2021

Gas Production News

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Cold Snap Shuts Houston Ship Channel

A deep freeze that hit Texas over the weekend wrought more havoc on the U.S. energy sector on Tuesday, curbing output in the largest U.S. oil field, knocking out a fifth of the nation's refining capacity, and shutting a key shipping channel in Houston.Historic cold has knocked out roughly 4 million barrels per day of refining capacity, more than one-fifth of national capacity, according to Reuters calculations. About 500,000 to 1.2 million bpd of crude production has also been affected…

Last weekend, the marine safety bureau in northern Hebei sent several tugboats to the aid of vessels, such as LNG tanker Clean Planet and coal bulk tanker Agia Eirini Force, trapped in sea ice that was 1 meter (3 ft) thick, to help bring them to Caofeidian and Huanghua ports - Image by Geir Vinnes/MarineTraffic.com

China Energy Terminals on Alert as Sea Ice Slows Ships

Chinese ports and marine safety authorities are on high alert as an expansion of sea ice makes it tougher for ships to berth and discharge at key energy product import terminals along the coast of northern Bohai Bay.A cold wave sweeping the northern hemisphere has plunged temperatures across China to their lowest in decades, boosting demand for power and fuel to historic highs in the world's largest energy consumer."The sea ice situation is more severe this year than the same period in previous years," said Wang Jun, a professor specializing in transport issues at Dalian Maritime University."I

Historical growth and prospects of gas investment for short-, medium- and long-term ($ billion). Source: GECF Secretariat, based on data from the GECF GGM

Rolling the Dice in Chaos: The Prospects of Investment in the Gas Industry

As stated in the Declaration of Malabo at the 5th Summit of Heads of State and Government of the GECF Member Countries, in order to sustain the security of demand and supply of natural gas, it is necessary to ensure sufficient investments through the entire gas value chain among all gas market stakeholders [1].Since the start of 2020, every aspect of the global economy, including investment projects in natural gas industry, have been strongly hit by the outbreak of the Covid-19 pandemic.

© Nord Stream 2 / Axel Schmidt

Germany Offered to Build LNG Terminals to Avert US Pipeline Sanctions

Berlin offered to spend 1 billion euros ($1.2 billion) to build two liquid natural gas terminals in a bid to dissuade the United States from imposing sanctions over the Nord Stream 2 pipeline, due to bring gas directly from Russia to Germany, Die Zeit reported on Wednesday.The weekly paper said Finance Minister Olaf Scholz made the proposal in an Aug. 7 letter before Washington imposed sanctions on companies involved in building the Baltic Sea pipeline, effectively freezing its…

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Stored Crude, Condensate Could be Shipped from Shuttered Libyan Ports

A limited reopening of Libyan oil terminals could allow the export of some crude oil and condensate stored at Es Sider, Brega, Zueitina and Hariga, but leaves a months-long blockade of the ports in place, oil engineers say.East Libyan authorities said on Wednesday they would permit exports of the stored products in an effort to ease an electricity supply crisis that has resulted in increasingly lengthy power cuts.The ports have been blockaded since January by east Libyan factions as part a wider conflict…

Zenith Norway Established for Offshore Ops

Canadian international oil and gas production company Zenith Energy has established a Norwegian subsidiary - Zenith Norway - as a precursor to securing its first acreage off the country. Zenith said it intends to use Zenith Norway as a vehicle for intended participation in future licensing bids to be organized by the Norwegian Ministry of Petroleum and Energy, as well as to actively pursue the potential acquisition of working interests in mature energy production assets across Northern Europe.To this end…

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Bahri Looks to Make LNG Foray

Saudi Aramco's shipping arm Bahri has issued an expression of interest (EOI) to charter up to 12 liquefied natural gas (LNG) tankers from 2025, its first foray into the superchilled fuel, industry sources said on Monday.No further details were immediately available and Saudi Aramco declined to comment. EOIs are preliminary enquiries that may or may not turn into full-fledged orders.According to Bahri's website, the national shipping carrier of Saudi Arabia has six business units dealing in oil…

TEN Orders LNG Carrier at HHI

Greece-based crude, product and LNG tanker operator Tsakos Energy Navigation (TEN) ordered has one-option-one 174,000cbm LNG carrier from Hyundai Heavy Industries (HHI) in South Korea with expected delivery, the first, in the second half of 2021 and the second, in the first half of 2022.The provider of international seaborne crude oil and petroleum product transportation services said that with this order, if the option is exercised, its LNG proforma fleet increases to four vessels…

Natural Gas to be 29% of World’s Energy Supply by 2050

The global oil demand will peak in the mid-2020s and gas demand will keep rising to 2033, says DNV GL.Gas demand will then plateau, and the fuel will remain dominant until the end of the forecast period in 2050, when it will account for over 29% of the world’s energy supply, it said.Significant investment will be required to ensure production meets demand, including realising the potential from stranded gas reserves and for reserve replacement. DNV GL forecasts global upstream gas capital expenditure to reach USD 737 billion (bn) in 2025…

Neptune Acquires Interests in Offshore Indonesia

Neptune Energy East Sepinggan, subsidiary of the European exploration and production company Neptune Energy has agreed to acquire interests from the Eni East Sepinggan Limited, a unit of Eni in the Kutei basin production sharing contracts (PSC) offshore Indonesia.According to a press release from the Italian multinational oil and gas company, it  will continue to be the Operator of the area which is located in the East Sepinggan area, offshore East Kalimantan in Indonesia, and includes Merakes development and Merakes East discovery.

Photo: Alfa Laval

Inert Gas Production for Alfa Laval Training Center

An Alfa Laval Smit Combustion system (FU type) is now installed at the Alfa Laval Test & Training Center in Aalborg, Denmark. The system, which adds inert gas production to the center’s already comprehensive range of full-scale vessel applications, will ensure that Alfa Laval remains at the forefront of developing and optimizing inert gas systems.Inaugurated in 2014, the Alfa Laval Test & Training Center is essentially a full-sized machine room on land, with equipment from all of Alfa Laval’s marine product groups installed in process lines as they would be on a commercial vessel.

Photo:  TNPA

Opportunities for Boat Building in Eastern Cape

Transnet National Ports Authority’s (TNPA) Port of Ngqura has hosted the testing and launch of the first ever locally manufactured aluminium vessels by PE-based boat builder, Legacy Marine. As the company’s ship yard is based in Perseverance, the low bridges blocked the route to the Port of PE in the past, restricting the building of larger vessels. When the new Port of Ngqura stepped up as an alternative port, it contributed to the expansion of boat building in the Eastern Cape.“Now that the port is available for new vessel launches…

Gazprom, Itochu Sign MoU on Baltic LNG

Russian oil and gas company Gazprom and Japanese trading house Itochu have signed a memorandum of understanding (MoU) on the proposed Baltic liquefied natural gas (LNG) export project."With this document, the parties confirmed their interest in potential cooperation in the framework of the project," said a press note from the Russian gas giant.A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Yoshihisa Suzuki, President and Chief Operating Officer of Itochu Corporation, took place in St.

BHGE Inks 3-year Contract with Saudi Aramco

Saudi Aramco has awarded major stimulation and well-testing contract to Baker Hughes, a GE company (BHGE). BHGE will deliver a comprehensive well services solution including all cased-hole wireline logging, perforation, well testing, stimulation, fracturing and associated intervention services.By integrating discrete products, services and capabilities into a single offering, BHGE will help Saudi Aramco reduce time, costs and complexity while increasing efficiency.The three-year…

Total Wins 40% Stake in Unconventional Gas Concession

Abu Dhabi National Oil Company (Adnoc) has awarded a 40 per cent stake in the Ruwais Diyab gas concession to French energy major Total.Adnoc group, for which the award is an important milestone to reach the target of 1 Bcfd of unconventional gas production before 2030, said in a press release that it will retain a 60% stake in the concession.Under the terms of the agreement, Total will explore, appraise and develop the concession area’s unconventional gas resources.The agreement…

Azerbaijani Vessels Completes Filanovsky Mission

The vessels of Azerbaijan Caspian Shipping Company (ACSC) have successfully completed their mission at the “Filanovski” oilfield  in the Russian sector of the Caspian Sea.A press statement from ACSC said that the towing vessel “Yarnega”, owned by Azerbaijan Caspian Shipping Company and lift vessel “Gurban Abbasov” expolited by Shipping Company in alliance with Caspian Marine Services (CMS) successfully completed their missions in “Filanovski” oil field in the Russian sector of the Caspian Sea…

Norton Rose Fulbright, Citibank on USD 2.2bln Danaos Corp Restructuring

Global law firm Norton Rose Fulbright has advised Citigroup and other lenders of Danaos on a $2.2 billion restructuring of NYSE-listed Danaos Corp (DAC), one of the world’s largest independent owners of modern, large-size containerships.Norton Rose Fulbright’s Athens, London and New York offices advised Citigroup and certain other lenders (including China Exim Bank and Eurobank) on new money, take out and refinancing facilities, restructuring support agreements, debt for equity arrangements…

Mitsubishi to Acquire 25% Take in Bangladesh LNG Terminal

Japan’s Mitsubishi Corp has agreed to take a 25% interest in Summit's Bangladesh LNG import terminal project - which will be the country's second such terminal.The other 75% of the Summit LNG terminal will remain with Summit Corp.Mitsubishi is planning to help in the development of an offshore receiving facility in the country. It will also develop a liquefied natural gas (LNG) receiving terminal that uses a floating storage and regasification unit (FSRU) in Bangladesh.Under the project…

Eidesvik Offshore, Wärtsilä Norway and DNV GL Celebrate FellowSHIP

Project partners Eidesvik Offshore, Wärtsilä Norway and DNV GL have announced the closure of the FellowSHIP research project. The cooperation has explored the use of battery, hybrid and fuel cell technology in the maritime industry for over 15 years.“FellowSHIP has been a flagship research project,” states Bjørn-Johan Vartdal, Maritime Programme Director for Technology and Research in DNV GL Group. “The results from FellowSHIP have shaped our knowledge of battery and hybrid power…

Caspian Littoral States Sign Environment Protocol for the Sea

Littoral countries to the Caspian Sea have made a groundbreaking commitment to evaluate the likely impact that development projects will have on the environment in each other’s states.High-level representatives from Azerbaijan, Iran, Kazakhstan, the Russian Federation and Turkmenistan today signed the Environment Impact Assessment Protocol under the Tehran Convention.Under the Protocol, countries must follow a set of harmonized practical procedures for assessing the impact that a project will have on the environment in another state.Impacts on human health…

MOL buys Eni's Adriatic Offshore Gas Stakes

MOL Group’s Croatian INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group, through which Eni participated in the joint project of gas production in Croatia’s offshore areas Northern Adriatic and Marica.INA will become the 100% owner and the sole operator of the Northern Adriatic and Marica fields after all conditions are fulfilled, including receiving clearance from the antitrust authorities, which is expected in the coming months.The transaction covers 4.3 million…

Equinor Acquires Energy Trader Danske Commodities

Norwegian oil and gas major Equinor, formerly Statoil, is acquiring the Danish energy trading company, Danske Commodities for EUR 400 million (USD 470 mln). "Equinor has reached agreement to buy 100% of the shares in Danish energy trading company Danske Commodities (DC) for EUR 400 million, with smaller contingent payments depending on DC’s performance over the next couple of years," said a press release from the company. This acquisition – of one of Europe’s largest short-term electricity traders – supports Equinor’s development towards becoming a broad energy company.

Novatek, Sovcomflot Pact for LNG Shipping from Yamal LNG

Leonid Mikhelson, Chairman of the Management Board of PAO Novatek and Sergey Frank, General Director of PAO Sovcomflot have signed a Strategic Cooperation Agreement on developing a strategic partnership to transport hydrocarbons (LNG and gas condensate) produced at Yamal LNG, Arctic LNG 2 and other Arctic projects of the Company. “Our unique partnership with Sovcomflot will optimize our LNG transport model through the Arctic zone by efficiently and effectively using ice-class tankers” according to Novatek's Chairman of Management Board Leonid Mikhelson.

MOL Snaps Up Adriatic Gas via Croatian Unit

MOL Group’s Croatian INA agreed to buy Eni Croatia BV, a wholly-owned member of Eni Group, through which Eni participated in the joint project of gas production in Croatia’s offshore areas Northern Adriatic and Marica. INA will become the 100% owner and the sole operator of the Northern Adriatic and Marica fields after all conditions are fulfilled, including receiving clearance from the antitrust authorities, which is expected in the coming months. The transaction covers 4.3 million…

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US Exports to China to Rise amid Trade Talks, but Volumes are Capped

China has pledged to buy more U.S. goods to reduce America's huge trade deficit and help avoid exacerbating a trade war between the world's two biggest economies, with energy and commodities high on Washington's list of products for sale.The U.S. trade war with China is "on hold" after the governments agreed to drop tariff threats and work on a wider agreement, U.S. Treasury Secretary Steven Mnuchin said on Sunday. Washington is especially keen to sell more of the United States'…

Novatek Plans New Arctic Transport Company

Russia's gas production and sales company PAO Novatek has created a transportation unit called Maritime Arctic Transport. "The Board of Directors of PAO Novatek  resolved on creating a transportation subsidiary called Maritime Arctic Transport LLC to manage and optimize transportation costs, build up the unique competencies of Arctic navigation and ensure centralized management of the Arctic fleet," said a press release from company. Novatek’s Chairman of the Management Board…