Eurobench.com

voda 25 juni 2015 16:51

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Indonesia seeks buyers for 79 LNG cargoes loading over 2015 to 2016

An official said that Indonesia is seeking buyers for a total of 79 LNG cargoes for loading over 2015 to 2016 from the Tangguh and Bontang LNG plants.

Mr Zudaldi Rafdi, spokesman of SKK Migas, said that “Excess availability was caused by the inability of domestic industrial customers to absorb the allocated LNG. We have allocated the LNG for local industries, but they cannot absorb it because of an economy-driven reduction in downstream consumption.”

Mr Rafdi said that “It is difficult for the producers to cut the output, as it would affect long-term gas production in the blocks. That is why we prefer to sell the excess cargoes to the spot market or to our existing buyers.”

SKK Migas estimates that the Tangguh LNG plant will produce six excess cargoes in 2015 and 17 in 2016.

Meanwhile, Bontang LNG plant will have an excess of 13 cargoes in 2015 and 43 cargoes in 2016.

Indonesia plans to export 200 LNG cargoes this year, down from 267 in 2014, Platts previously reported.

58 cargoes will be allocated to the domestic market, up from 31 in 2014.

Source : Platts

voda 1 juli 2015 16:13

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Nieuw plan voor LNG-terminal in Eemshaven

Gepubliceerd op 1 jul 2015 om 13:50 | Views: 1.411

GRONINGEN (AFN) - Opnieuw wordt onderzocht of de aanleg van een zogeheten LNG-terminal in Eemshaven mogelijk is. Vijf jaar geleden werd een haalbaarheidsonderzoek naar een afhandelpunt voor de import van vloeibaar gemaakt aardgas (LNG) afgeblazen omdat die financieel niet haalbaar bleek.

Woensdag maakten Gasunie en Groningen Seaports bekend dat er een grotere behoefte is om het gas te importeren nu de gaskraan van het grote gasveld in Groningen verder dicht is gedraaid na een reeks aardbevingen.

Gasunie gaat samen met ,,marktpartijen'' bekijken welke technische, logistieke en commerciële concepten geschikt zijn. Groningen Seaports, de beheerder van de Eemshaven, zoekt naar een geschikte locatie voor de terminal.

voda 2 juli 2015 19:02

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Gasunie en Gazprom samen in LNG-klus

Gepubliceerd op 2 jul 2015 om 18:50 | Views: 1 |

GRONINGEN (AFN) - Gasunie en het Russische Gazprom hebben een samenwerkingsovereenkomst gesloten op het gebied van vloeibaar gemaakt aardgas (LNG) voor de transportsector in Noordwest-Europa. Dat maakte Gasunie donderdag bekend.

De topmannen van beide bedrijven, Han Fennema en Alexey Miller, tekenden een akkoord op hoofdlijnen. Ze gaan zich onder meer buigen over de aanleg van infrastructuur waarmee schepen en trucks LNG kunnen tanken op locaties langs de Oostzee. LNG speelt volgens beide bedrijven een belangrijke rol als schoner brandstofalternatief voor schepen en zwaar wegtransport.

Fennema en Miller bespraken ook de zogeheten voorzieningszekerheid van gas voor de Europese gasmarkt. In recente jaren draaide Rusland meermaals de gaskraan naar Oekraïne, een belangrijk doorvoerland naar West-Europa, dicht. De heren stelden vast ,,dat samenwerking van belang is om Europa te verzekeren van een stabiele en betaalbare energievoorziening''.

voda 5 juli 2015 15:06

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Australia to hit world energy market with an LNG boom

While the Aussie coal boom has already reached maturity, the country is expected to hit the world energy market with an LNG boom. Seven new LNG projects under construction are due for completion by 2018

While rapidly growing emerging economies fuel the world's energy consumption, countries with a wealth of energy resources are becoming more advantageous on the world's political scene. Despite the general perception that only Middle Eastern countries are energy superpowers, Australia is also emerging as a growing energy superpower.

In recent years, the Australian government has abolished carbon and mining taxes, relieving businesses and households of the associated costs. Furthermore, the country has commenced priority energy market reforms for more competition and consumer choice, and improved business conditions. Thus, since the early 2000s, energy resources exports have provided major benefits to the country. The energy sector accounted for 7% of gross domestic product and USD 71.5 billion in export earnings in 2013 to 2014.

In the last decade, the country experienced the Aussie coal boom, thanks to energy sector reforms and a wealth of resources. Australia is already the fifth largest producer of coal, and by proportion, exporter, and the country is the second largest exporter of coal in the world. While coal provides about 69% of Australia's electricity production, on the export side, most of the coal products are exported to east Asian countries. Coal exports are Australia's second-largest source of export income, after iron ore exports. In 2013, 459 million tons of coal were mined and 336 million tons were exported and coal exports brought USD 50 billion to the country's economy. Furthermore, the Australian Ministry of Energy predicts that Australia's yearly export earnings from energy resources commodities are expected to reach USD 114 billion within the next five years.

It seems like the Aussie coal boom has already reached maturity. However, this time the country is expected to hit the world energy market with a LNG boom. Over the past decade, the total amount of LNG investments in Australia are estimated at about USD 200 billion. With seven new LNG projects under construction and due for completion by 2018, Australia is expected to overtake Qatar as the world's largest supplier of LNG by the end of the 2010s.

Australia's domination of the world LNG market and the country's emergence as a growing energy superpower is also expected to impact the country's foreign policy.

According to Mr Anthony Bubalo, research director of Australia's leading international policy think tank, The Lowy Institute, the coal boom that they experienced in the last decade has already had an effect on trade and foreign policy.

He said that "In the last decade, coal export from Australia boomed and China became our main trade partner, while the U.S. still remains the main strategic partner. In fact the mining boom is going to continue, but it's going to be changed and different. Eventually, in the next 10 years the countries that we exported to are not going to as heavily import as before."

Mr Bubalo believes that like the coal boom, the LNG boom also will have an important effect on foreign policy. He said that "In fact, the LNG boom has clear strategic consequences in terms of our perception in the relationship of the region. This government particularly has placed a lot of emphasis on developing strategic relationships with Japan and South Korea. It does provide little economic and strategic maneuvering areas for Australia."

On the other hand, Ms Rebekah Grindlay, director of resources and energy from the Department of Foreign Affairs and Trade, said that “Because of the time frame,they have not seen any impact of the LNG boom on foreign policy. What will happen is a big question. It is understandable that Asian countries would seek to diversify supply for their own reasons; everyone would like to see the lowest possible cost."

She said that "Another interesting development in the LNG market is the potential movement to what they call 'spot pricing' in LNG. Moving away from these long-term, 20-year contracts to a more flexible arrangement, in which you are paid for each shipment according to the market price, has the potential to completely change the global LNG market."

While the foreign policy consequences of the upcoming LNG boom are yet to be experienced, there are several other factors that may affect the country's energy market. In fact, dramatic falls in oil prices and more oil supplies and even low demand as a result of weak economic activity could have an impact on investment in oil and gas exploration and development in Australia.

Even though there is a risk that these external factors may delay further investment in the country's energy sector, Australia is apparently taking firm steps forward to become the new energy superpower in the world.

Source : Daily Sabah

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voda 7 juli 2015 22:12

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Billions in gas projects stranded by climate change action - Thinktank

According to a report by the thinktank Carbon Tracker, more than USD 280 billion of LNG projects being planned over the next decade risk becoming 'stranded' if global action is taken to limit climate change to 2C.

LNG projects allow gas to be compressed into tankers and sold around the world, making it key to hopes in the US, Canada and Australia of fully exploiting their gas reserves.

But the new analysis shows that if emissions are cut to keep global temperature rise below the internationally agreed target many LNG projects being considered will not be needed.

The report concludes that over the next 10 years USD 82 billion of LNG plants in Canada would be surplus to requirements, USD 71 billion in the US and USD 68 billion in Australia, with the rest of the world, led by Russia and Indonesia, accounting for the remaining USD 59 billion.

The analysis found Shell’s agreed takeover of BG makes it by far the biggest player in the market and USD 85bn of the combined company’s potential LNG projects would not be needed.

Shell said that it was only the biggest in LNG compared to oil majors and no comparison had been with national oil companies.

The report is the latest to raise concerns that increasing action to cut carbon emissions, combined with falling renewable energy prices, will put some fossil fuel investments at risk. Carbon Tracker has pioneered this analysis, which has been backed by the Bank of England and the World Bank.

Mr James Leaton, Carbon Tracker’s head of research, said that “Investors should scrutinise the true potential for growth of LNG businesses over the next decade. The current oversupply of LNG means there is already a pipeline of projects waiting to come on stream. It is not clear whether these will be needed and generate value for shareholders.”

Source : The Guardian

voda 16 juli 2015 20:15

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Canada's natural gas industry growth hinges on LNG - CAPP

CBC News reported that the organization representing Canada's oil and gas industry is warning that natural gas production will decline in the next decade if no new export facilities are constructed.

The Calgary-based Canadian Association of Petroleum Producers said that Canada needs access to global liquified natural gas markets to help stimulate the industry.

More than a dozen LNG projects are proposed in B.C but analysts expect only a few to actually be constructed.

Mr Tim McMillan, CEO of CAPP, said that "Accessing the global LNG market can strengthen the long-term viability of Canada's natural gas industry and backstop the significant economic benefits it creates for Canadians."

Canadian natural gas production is about 14.5 billion cubic feet per day and could fall to 13 billion cubic feet per day in the next ten years. According to CAPP, production could rise to 17 billion cubic feet per day by 2030 if LNG export facilities are developed.

An energy industry group is warning that Canada's natural gas industry risks decline unless new export terminals are built.)

Mr McMillan said that "The window of opportunity for Canada's LNG market will not stay open forever."

This week, B.C politicians started debating a $36-billion LNG agreement which the Liberal government claims will lay the groundwork for the province's future. The government needs legislative approval to enter into an agreement with Pacific NorthWest LNG, a consortium led by Malaysian energy giant Petronas. The company is proposing an export terminal near Prince Rupert.

The project would face a number of hurdles, including opposition from native groups who could take their fight to the courts.

Mr Iain Black, CEO of the Vancouver Board of Trade, said that he was increasingly confident that some of the LNG facilities will actually be built. The government has done more than talk the talk on this, they have laid the groundwork, they are ready to move forward.

Source : CBC News

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voda 27 juli 2015 19:26

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Shell voorziet schepen Sabic van LNG

Gepubliceerd op 27 jul 2015 om 17:26 | Views: 1.451

RIYAD (AFN) - Shell gaat de schepen van de Saudische petrochemiereus Sabic in de Britse haven Teesport van vloeibaar gemaakt aardgas (LNG) voorzien. Dat meldde Sabic maandag. Het gaat voorlopig om een tijdelijke bunkerfaciliteit, totdat later dit jaar een definitieve oplossing gereed komt.

De Arabieren zijn blij met de nieuwe bunkermogelijkheid in Teesport. Tot nu toe moesten de schepen van Sabic naar het Belgische Zeebrugge om brandstof bij te tanken.

Over de deal zijn geen financiële details bekendgemaakt.

voda 31 juli 2015 15:59

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Oman and Iran close in on USD 60 billion gas plan

A top energy official said that an Omani delegation is in Tehran for the finalization of the operational plan for transfer of the Iranian gas to the sultanate via a pipeline across the Persian Gulf.

Mr Alireza Kameli head of the National Petrochemical Company said that “Currently, the Iranian adviser for studying the pipeline for 200 km from Kuh-e Mubarak to Oman’s Sohar port has been chosen.”

He said that The onshore section of the pipeline in Iran will be built for another 200 km from Rudan to Kuh-e Mubarak.

Mr Kameli said that “According to the plan, engineering studies in both the offshore and onshore sections will be carried out simultaneously so that the implementation of the 2 lines does not hit a snag.”

The USD 60 billion deal was concluded during Mr Hassan Rouhani’s President visit to Muscat in 2013 to ship 10 million cubic meters per day of the Iranian gas to Oman for a period of 15 years.

The two countries signed another deal in 2007 to build a liquefied natural gas plant in Oman to process the Iranian gas.

Mr Bijan Zangeneh, minister of petroleum, said that Oman has undertaken to pay the entire cost of the pipeline and the related infrastructure.

He said that “Gas exports to Oman and entry into its retail market will make it possible to sell the Iranian natural gas to the region, especially Asian countries.”

Mr Kameli said that the Persian Gulf littoral states are Iran’s top priority for gas exports in the face of requests by European companies. Currently, many countries have voiced readiness to invest in our upstream and downstream gas sector and are seriously pushing for imports of the Iranian gas.

Mr Kameli said that “Although we cannot ignore the European gas market, exports to Europe come later in our priorities.”

For the gas transfer to Europe, Iran has ruled out the pipeline option which is too costly. Officials, instead, have hinted at LNG shipments but the first cargo is not believed to come about at least in the near future.

Mr Kameli said that LNG constitutes 31% of the world’s gas trade, with 70% of it going to Asia and the Middle East, there are currently 60 LNG import terminals in Asia, with plans to build 40 more.

Source : Press TV

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voda 25 augustus 2015 17:19

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Stolt LN Gaz to build a new LNG plant in Becancour

CBC News reported that Norwegian-owned Stolt LN Gaz will invest nearly USD 800 million to build a new liquefied natural gas plant in Becancour, the only one outside the Montreal-area.

The province's environmental review board approved the project back in June, but the official announcement only came today.

Mr David Heurtel, Minister of Environment, said that a natural gas supply offers a greener alternative to oil and diesel.

He said that "This project will lower Quebec's greenhouse gas emissions by increasing access to natural gas for industries which aren't connected to the gas network."

More than 600 people in the Becancour area lost their jobs after the Marois government announced in 2012 it was shutting down Quebec's only nuclear power plant, Gentilly 2.

Mr Jean-Guy Dubois, mayor of Becancour, said that the municipality is proud and happy to welcome Stolt in our industrial park.

He said that "It will be a major contributor to the region's economy."

The company says the construction phase will bring more than 200 jobs to the region.

It says approximately 100 direct and indirect jobs will be created once the plant is operational.

Local MNA Ms Laurent Lessard said that Becancour is the perfect location for such a project, given it is already connected to a natural gas pipeline and is on the St. Lawrence River.

Stolt LN Gaz said that 1 square metre of LNG is equivalent to 600 cubic metres of natural gas.

Mr Pierre Arcand, the minister responsible for the North Shore and for the Plan Nord, said that “That will translate to increased access to natural gas for mining companies and industries in Northern Quebec.”

He said that "LNG offers an interesting avenue for the industry's current demands but also to attract new investors since LNG can be transported by truck or ship."

Stolt LN Gaz said that it has signed agreements with Quebec shipping companies Somavrac and Groupe Desgagnes.

Source : CBC News

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voda 1 september 2015 16:47

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Mozambique LNG not viable at under USD 9 to 10 per mmBtu - OVL

Mr N K Verma, MD of ONGC Videsh Limited, said that he natural gas sold from the yet-to-be-built LNG terminal at Mozambique will not be viable at a price below USD 9 to USD 10 per million metric British thermal units.

He was talking to the media at the sidelines of an event in Mumbai.

Indian companies, along with OVL, hold a 30% stake in the Offshore Area 1, Rovuma Basin in Mozambique. The project, which has natural gas reserves of 75 trillion cubic feet, also includes a 10 million tonnes per annum LNG terminal expected to be ready by 2019.

Mr Verma said that the partners have already signed agreements for selling 8.5 million tonne per annum of gas from the terminal, but negotiations on the price point are still on.

He said that “It’s a commercial decision to be taken by the consortium. Our participation focus is on two parts. One is upstream for gas production and other is gas supply. If the gas is sold at a higher price, all upstream companies will benefit. So, we are also there, we will benefit. But if the gas is being sold at a price cheaper than global market price, then we will ask them to give the remaining gas to us.”

In the face of falling crude oil price, the price of spot LNG too has come down to USD 7.5 per mmBtu from around USD 12 per mmBtu a year ago, forcing several natural gas buyers to either postpone their purchases under contracts signed at higher prices or negotiate a reduction in price.

He said that while he did not say at what price the negotiations with interested buyers for Mozambique LNG are on, but said anything below USD 9-10 per mmBtu is not a viable price. As a consortium the effort will be to maximize value. 8.5 million tonne per annum that has already been tied up.

Bharat Petroleum Corp. Ltd’s upstream subsidiary Bharat PetroResources Ltd; OVL, which is the overseas exploration arm of state-owned Oil and Natural Gas Corp Ltd; and Oil India Ltd together hold the 30% stake in Mozambique.

Individually, BPRL holds 10%, OVL has 16% and OIL holds 4%. Anadarko holds 26.5%, while the balance is held by a clutch of exploration companies such as Mitsui and Co. Ltd with a 20% stake, Empresa Nacional de Hidrocarbonetos EP at 15% and Thailand’s PTT Exploration and Production Plc at 8.5%.

Source : Live Mint

voda 1 september 2015 16:47

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Asian LNG price faces steep fall as perfect storm brews

Reuters reported that Asian LNG prices could fall a further 25% in coming months as new supply, falling demand and weaker oil prices put it on par with iron ore and coal as the worst performing commodity of recent years.

Asia's LNG market has already fared worse than slumping oil markets, with spot prices LNG-AS down 60% since 2014 to USD 8 per million British thermal units, ending half a decade of high prices.

Australia's biggest energy firm, Woodside Petroleum, in August reported a 40% slide in first-half profits and said it expected LNG prices to remain low into 2016.

Ratings agency Moody's said that it expected Woodside's credit metrics to deteriorate substantially from its previously very strong levels.

LNG prices look to have further to fall.

While crude demand remains strong, research group Energy Aspects estimates Asian LNG imports fell 8.5% in the first half of 2015 from the same time last year, as the region's economies slow.

Add to the mix El Nino, which usually means milder winters in northern Asia, and a unique cocktail for falling prices may appear.

Mr Neil Beveridge of Bernstein Research said that "The traditional power houses in north Asia are all showing signs of demand weakness at a point when there is lots of supply coming on to the market."

China's LNG imports have slumped from double digit growth in recent years to a three% fall in the first half of 2015 from a year earlier.

For Japan, the world's top LNG importer, the restart of its nuclear power plants is eating away at LNG's market share in an environment of generally falling energy demand.

Imports into South Korea have also fallen due to a slowing economy and rising nuclear power output.

The slowing demand comes just as output soars. Following USD 200 billion of investments into LNG projects, Australia's exports are soaring, tripling its capacity to 86 million tonnes before 2020, which would make it the world's biggest LNG exporter ahead of Qatar.

Australia's soaring output comes at the same time as the United States starts exporting for the first time towards the end of this year.

A 25% fall in oil prices since June is adding to LNG weakness.

Consultancy Timera Energy said, as oil-indexation in LNG contracts meant crude movements would be priced into LNG with several months delay, that "The latest leg down in oil prices is in the process of feeding through into gas prices."

Source : Reuters

voda 1 september 2015 16:54

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Oman to consider importing LNG as domestic gas use surges

Bloomberg reported that Oman may start importing liquefied natural gas to meet surging domestic energy demand, according to two people with knowledge of the matter, a shift in trade that would make it the fourth Arab country in the oil-rich Persian Gulf to buy LNG.

Oman currently exports liquefied gas under long-term contracts to Spain and several Asian countries including Japan and South Korea. It’s now studying options to import LNG as well, to help generate power and for other uses, said the two people, who asked not to be identified because the plan isn’t public. Potential imports would arrive at the port of Sohar north of the capital city Muscat. Oman’s Ministry of Oil and Gas didn’t respond to calls for comment on Sunday.

LNG trade is expanding in the Middle East due to the growing regional use of electricity and the lack of cross-border pipelines for transporting natural gas. Combined imports of LNG by Kuwait and the United Arab Emirates increased 47% in 2014 from the previous year, according to the International Group of Liquefied Natural Gas Importers. Bahrain is building a receiving terminal for the fuel, while Jordan, Egypt, Morocco and Pakistan also plan to buy LNG.

Oman’s possible shift to importing the fuel follows years of rising local gas consumption and shrinking exports of LNG. Spare production capacity at Oman LNG LLC, which operates the country’s facilities for liquefying gas for export, last year reached its highest level since 2006, according to the company’s annual reports. Oman produced 7.95 million tons of the fuel in 2014 from plants with an annual capacity of 10.4 million metric tons, Oman LNG said in its latest annual report. Natural gas consumption in Oman jumped to 774 billion cubic feet in 2013 from 520 billion cubic feet in 2009, according to the U.S. Energy Information Administration.

LNG imports would supplement Oman’s current supply of natural gas by pipeline from Qatar. Oman also hopes to receive gas from Iran through a separate pipeline that has yet to be built. Oman and Iran are discussing a route for this link, Mohammed Al-Rumhy, Oman’s oil minister, said on April 14, though the two countries still haven’t agreed on a price for the Iranian gas.

Source : Bloomberg

voda 9 september 2015 19:37

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South Africa mulls ZAR 20 billion gas port - Report

An official said that South Africa could build its first ZAR 20 billion LNG import facility at the west coast port of Saldanha Bay to feed gas-to-power projects aimed at easing chronic supply shortages.

Importing LNG is among the options Africa's most developed economy is considering to diversify its energy sources away from coal and ease power shortfalls that have curbed growth.

Several companies, including Shell, Mitsubishi and Sasol, are expected to bid for 3 126 MW gas-to-power projects in the first quarter of 2016, when exact details will become known.

Mr Fernel Abrahams, project manager for the LNG project at the Western Cape provincial government, said that “Saldanha Bay ticks all the boxes. It makes economic sense, it will help improve energy security and all our studies around ocean conditions, demurrage and market growth show it is technically feasible to land gas here.”

He said that the plan would be to build an import facility at, or close to Saldanha Bay, South Africa's deepest natural port and emerging oil and gas hub, with pipelines supplying enough gas for power plants to supply thousands of industrial users and homes stretching to Cape Town around 150 km away.

Richards Bay in KwaZulu-Natal province and Coega in Eastern Cape province have also been mooted as possible sites for an LNG import terminal. The Department of Energy is expected to decide on the terminal and its location next year.

Mr Abrahams said that Angola and Nigeria were among likely source markets for the LNG. The country is close to new oil and gas strikes offshore of Mozambique and Tanzania, as well as existing fields from Africa's top two oil producers Nigeria and Angola.

Faster to install compared with nuclear or coal-fired power plants, the proposed terminal will allow the authorities to take advantage of favourable global LNG prices. South Africa plans to add 9,600 MW of nuclear power in the next decade and a half, estimated by analysts to cost as much as USD 100 billion.

For the gas-to-power projects, the government has said it is looking at power barges, floating power plants installed on a barge and gas-fired power plants, although details have not yet been finalised.

Mr Abrahams said the proposed LNG project would also supply gas to state-owned power utility Eskom's Ankerlig 1 327 MW diesel-fired open cycle gas turbine power station at Atlantis, also on the west coast.

Eskom wants to convert Ankerlig and its sister OCGT plant, Gourikwa, to use gas, in order to cut its operating costs.

Mr Brian Molefe, acting CEO of Eskom, said that “We like the idea, Eskom and national oil company PetroSA are hoping to convert Ankerlig and Gourikwa to use gas within the next 18 months at a cost of ZAR 1.8 billion.”

Mr Luke Havemann, an oil and gas lawyer at ENSafrica, said that it was unclear if South Africa would first pipe gas overland from Mozambique or import LNG rather than exploit its own domestic shale gas resources.

He said that “Ideally we want to know if we have domestic gas resources that we can monetize.”

The US Energy Information Administration estimates South Africa has the world's eighth-biggest shale reserves, but no exploration licences have yet been granted.

Source : Reuters

voda 10 september 2015 22:12

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Japan’s average LNG spot prices up USD 8.10 per mmBtu in August

Trade ministry data shows that LNG spot prices for buyers in Japan, the world's top consumer, averaged USD 8.10 per million British thermal units in August, up 20 cents from the previous month.

The rise was largely in line with Asian spot prices, which were mostly higher last month than they were in July.

Japan's average LNG import price increased in July for the first time in eight months, with a rise in oil prices earlier this year starting to impact prices for the fuel, Japan's trade data showed last month.

The price of Asian spot cargoes was around USD 7.50 per mmBtu on Friday, down 50 cents from a month ago, underscoring how markets have shifted into an era of oversupply.

The trade ministry surveys spot LNG cargoes bought by Japanese utilities and other importers, while excluding cargo-by-cargo deals linked to benchmark prices such as the US natural gas Henry Hub index.

It only publishes a price if there is a minimum of two eligible cargoes reported by buyers. Prices are converted to a delivery-ex ship basis.

Source : Reuters

voda 10 september 2015 22:13

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Cheap Russian gas tempts EU buyers as LNG import growth stalls

Bloomberg reported that Europe lowered purchases of liquefied natural gas for a third month in August as buyers boosted purchases of oil-linked fuel through pipelines from Russia.

LNG imports by 10 nations in the region that receive the tanker-delivered fuel dropped 3.4% from a year earlier in August, after reaching a two-year high in March, according to data from Genscape Inc. Russian pipeline supplies soared about 20% from a year earlier in August, remaining at the highest level this year, tracking declining crude prices, according to data from Gazprom PJSC, the world’s biggest gas producer.

Europe, which imports as much as 70% of its gas needs, has increased shipments from Russia as contract prices declined because they follow crude with several months delay. Traders bought more LNG as they waited for pipeline gas prices to drop further in the third quarter, encouraged by a slump in Asian LNG prices that removed the incentive for producers such as Qatar to send cargoes east.

Mr Ashish Sethia, head of Asia-Pacific gas and power analysis at Bloomberg New Energy Finance, said that “We expect the supply picture to remain stable for the rest of the year with shippers continuing to draw heavily on oil-indexed supply and LNG sitting on the margin. As has largely been the case in 2015, exactly how much LNG will land in Europe depends on how competitively priced seaborne gas is.”

LNG imports into the UK, Belgium, Spain, France, Greece, Italy, Lithuania, the Netherlands, Portugal, and Turkey declined to 3.02 million tonne in August, compared with 3.13 million tons in the same month a year earlier, according to Genscape. Only the Netherlands, Italy and Portugal boosted shipments.

Russian exports to Europe, excluding the Baltic states and including Turkey, were at 14.3 billion cubic meters in August, unchanged from the previous month, and up from 11.5 billion cubic meters in the same month a year earlier, according to data from Gazprom and the Russian Energy Ministry’s CDU-TEK unit.

Source : Bloomberg

voda 15 september 2015 19:22

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IOC launches tender to buy two LNG cargoes

Reuters reported that Indian Oil Corporation has launched a tender to buy two liquefied natural gas cargoes for delivery in October and November each, according to trade sources.

Source : Reuters

voda 15 september 2015 19:23

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First Nation to stop test drilling at proposed LNG site

Northern B.C First Nation members said that they stopped Malaysian state-controlled Petronas, the company behind an USD 11.4-billion liquefied natural gas terminal, from starting test ocean drilling in northwest B.C. this weekend.

The 33 metre Quin Delta drill ship, owned by Gregg Marine in California, and a barge were moved into the waters off Lelu Island near Prince Rupert by Pacific NorthWest LNG early Saturday morning.

Mr Joey Wesley, a Lax Kw’alaams First Nation member, said that some equipment was set up before First Nations went out to the ship and asked the workers to stop.

He said that the activity ceased, but the workers appeared to have trouble removing equipment from the ocean floor, including heavy concrete blocks with surface markers. The ship and barge remained in their location on Sunday just off Lelu Island.

Mr Wesley said in a phone interview that “Our intention is to put a stop to it. It’s a really sensitive eco-system.”

Mr Wesley is part of an occupation camp numbering 45 or so people from various First Nations set up on the island two weeks ago over concerns the LNG project will harm salmon-rearing habitat in eel grass beds at Flora Bank adjacent to the island and to block development of the terminal.

The occupation group put out a call on Facebook during the weekend for reinforcements to help halt any drilling.

Mr Wesley, whose family claims Lelu Island as a traditional-use area, noted that four or five workers walked onto Flora Bank when it was exposed by the low tide on Sunday, something they had been asked not to do.

Mr Wesley said that their concerns have been heightened by a 2013 internal audit that found serious safety issues on Petronas’ offshore Malaysian operations revealed in a Vancouver Sun last week.

Source : Times Colonist

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voda 17 september 2015 17:23

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NTPC and 10 others in fray for LNG for power plants subsidy

The Times of India reported that as many as 11 bidders including NTPC are in the fray on Wednesday for the INR 298 crore government subsidy on offer for plants receiving inadequate domestic natural gas.

The power plants can use the subsidy support from the government to buy expensive imported LNG to make up for the fuel deficit.

A source said that "As many as 11 bidders are in the fray today. Some of the companies which are in the race include NTPC. The government is offering a subsidy of INR 298 crore crore for buying imported LNG for DGP.”

According to the auction data, the ceiling price is at INR 1.97 per unit.

On Tuesday, 13 stranded gas-based power plants with an installed capacity of 8,262.08 MW got government subsidy of INR 1,590 crore for buying imported LNG, to restart their stranded electricity generating stations.

An official statement had said that "The government is delighted to announce the revival of 13 stranded gas-based power generation plants with an installed capacity of 8,262.08MW who have successfully bid through a transparent and competitive e-auction process."

However, the names of the successful companies were not disclosed.

As many as 16 power companies, including GMR, GVK and Lanco, were in the fray today to get government subsidy support to buy imported LNG for restarting their stranded electricity generating stations.

The auction started at a base price of INR 1.45 per unit.

The 13 plants would generate 11.03 billion units of electricity which will be supplied at or below INR 4.70 per unit to the discoms during the period from October 1 to March 31, 2016.

It said that "This will involve government support of INR 1,590.09 crore from the Power System Development Fund."

The present auction of stranded gas-based plants is the second phase of auctions conducted under scheme of utilization of stranded gas-based generation capacity.

The grid connected gas-based power generation capacity in the country is 24,150 MW.

Of this, a capacity of 14,305 MW had no supply of domestic gas. These comprise 29 plants which were eligible to participate in the auction held today.

Source : Times of India

voda 29 september 2015 21:18

0

ONGC and AP govt signs a MoU for LNG regasification terminal

DNA India reported that the Andhra Pradesh Government has signed a INR 40,000-crore memorandum of understanding with the Oil and Natural Gas Corporation for setting up a LNG Regasification Terminal in Kakinada Deep Water Port.

Underlining the importance of a regasification terminal, Andhra CM Mr N Chandrababu Naidu said that the 19th century belonged to coal, the 20th century belonged to oil, however, the 21st century definitely belongs to gas.

He said that "We want to make Andhra Pradesh the largest shipping hub and thus, we are going in a big way for developing ports. We are planning six-seven another ports- major, medium or minor. Our view is very clear, as on today, we are number two in sea cargo and we want to develop further through ports and the port-led economic development."

Source : DNA India

voda 12 november 2015 16:52

0

Pakistan finalises USD 16bn LNG deal with Qatar

Mr Shahid Khaqan Abbasi, Pakistani energy minister, said that Pakistan has finalised a 15-year, USD 16 billion liquefied natural gas (LNG) deal with supplier Qatar and shipments are expected to begin next month.

The amount is 1.5 million tonnes per year, the minister told Reuters on the sidelines of an Asian ministerial energy roundtable in the Qatari capital Doha.

The two sides have agreed a price, he said without elaborating.

Mr Abbasi said that "We have finalised the deal. The first shipment is expected in December. We are hopeful for similar deals in the future."

Source : Reuters

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