Data shows that Russian LNG tankers are avoiding the Arctic as winter approaches.
LSEG data on Thursday showed that ships carrying Russian liquefied gas (LNG), to Asia, are returning to longer routes around Africa’s Cape of Good Hope instead of those along the Arctic coast as the winter season starts. The new Arctic LNG 2 project in Russia also lacks sufficient ice-class tankers to continue the navigation along Northern Sea Route. However, some of these tankers still do so. According to LSEG, the LNG Megrez conventional gas tanker loaded at Yamal LNG on October 2 and began its journey around Africa to Asia.
Shipping Rivals CMA CGM, Maersk to Collaborate on Green Fuels
Container shipping giants CMA CGM and Maersk said on Tuesday they will cooperate in efforts to reduce emissions in the sector, including by supporting the use of methanol and aiding research into potential fuels like ammonia. The shipping industry is grappling with which fuels and vessel technology to adopt on a large scale to meet an objective of net zero emissions by around the middle of the century. Danish group Maersk has focused on so-called green methanol and last week announced the creation a new company to produce fuel.
MethanQuest: Test Results In for Renewable Hydrogen, Methane as a Fuel
As the maritime industry embarks on 'the path to zero', it is widely acknowledged that there is currently not a 'silver bullet' solution, nor is it likely that a solution will emerge from a vaccum. Collaboration is the path forward, and efforts such as MethanQuest offer promise.The project MethanQuest was launched in September 2018 with 29 partners from research, industry and the energy sector to work on processes for producing hydrogen and methane from renewables and for using them to achieve climate-neutral mobility and power generation.
EGPC Leads Oil, Gas Discoveries in Q3 2019
Egyptian General Petroleum Corporation (EGPC) led globally among companies in the third quarter (Q3) 2019 in terms of the highest number of oil and gas discoveries, said GlobalData.Of the total 38 discoveries made worldwide, EGPC had four, all being onshore discoveries. Of these, three were conventional oil discoveries while the remaining was a conventional gas discovery, said a report from GlobalData.Soorya Tejomoortula, Oil and Gas Analyst at GlobalData…
38 Oil and Gas Discoveries Made in Q3
GlobalData revealed that a total of 38 oil and gas discoveries were made globally in Q3 2019.South America and Europe led globally with the highest number of oil and gas discoveries during the third quarter (Q3) of 2019, with eight discoveries each during the quarter, according to GlobalData.Out of eight discoveries in South America, six are conventional oil discoveries, one is a conventional gas discovery and the remaining is a heavy oil discovery…
Test Well Boosts Valeura's Confidence in Turkey
Valeura said on Monday that findings from a test well in Turkey's Thrace basin, where it operates with Norway's Equinor, had boosted its confidence in the area's potential for gas fracking.Toronto-listed Valeura and its partners sit on 20 trillion cubic feet, or roughly 3.5 billion barrels of oil equivalent, of potential gas and condensate resources two hours from Istanbul, which they are fracking at a depth of more than 3 kilometers (1.86 miles).Valeura…
Gazprom to Review Shale Gas and LNG Sectors
Russian energy giant Gazprom revealed that there is still a high level of uncertainty in the long-term forecasts for U.S. shale gas production. It also said that the number of LNG-consuming countries would grow in the long term.Gazprom's Board of Directors took note of the information about the prospects of the shale gas and liquefied natural gas (LNG) sectors around the world, as well as the opportunities and threats facing the Company.The oil and gas company focused on the business of extraction…
MENA Region to Lead Global Oil and Gas for Decades to Come: DNV GL
The world will need less energy from the 2030s onwards, but it will still require a significant amount of oil and gas in the lead-up to mid-century according to DNV GL’s 2018 Energy Transition Outlook, an independent forecast of the world energy mix in the lead-up to 2050.The report says, the Middle East and North Africa (MENA) region will remain the main global supplier of oil and gas for decades to come."Among its forecasts for 10 global regions…
Saudi Aramco Re-explores Vast Empty Energy Quarter
Oil giant Saudi Aramco is using new technology to re-explore areas of the vast Arabian desert known as the Empty Quarter, which could help to bolster its proven reserves of oil and gas before the company offers its shares to the public. A team of about 900 people is using advanced seismic technology developed over the last few years to explore 15,400 square kilometres (5,950 square miles) around Turayqa in Saudi Arabia, Aramco said in a statement. Turayqa, discovered in 2013, is an onshore conventional gas field that contains no oil.
Conoco Deal Lifts Cenovus to Profit
Shares of oil producer Cenovus Energy Inc surged more than 6 percent on Thursday after the company reported a second-quarter profit, compared with a year-ago loss, helped by its purchase of ConocoPhillips' Canadian oil sands assets. Cenovus, which paid $13.3 billion in March to buy the assets, said the purchase boosted total production by 65 percent to 436,929 barrels of oil equivalent per day in the quarter. The deal closed on May 17. ConocoPhillips sold its 50 percent interest in the Foster Creek Christina Lake oil sands partnership…
Offshore Gas Safety atop the Agenda for Martek Marine
Maritime industry technology specialists Martek Marine say it is setting the bar high when it comes to offshore gas safety. The company has developed a first-of-its-kind gas sampling system for a new moored floating production unit, which forms part of the Jangkrik Complex gas fields development in Indonesia. The system has been developed to dramatically improve offshore crew safety through the use of advanced gas sampling technology. The worst offshore disaster in history…
ConocoPhillips Sheds Canadian Oil & Gas Assets
ConocoPhillips on Wednesday agreed to sell oil sands and western Canadian natural gas assets to Cenovus Energy Inc for C$17.7 billion ($13.3 billion), making it the latest international oil major to pull back from a region where high costs and low crude prices have made it hard for large companies to make an acceptable return. For Calgary-based Cenovus, among Canada's largest producers, the deal doubles its production to 588,000 barrels of oil equivalent per day as it takes full ownership of its main oil sands assets in northern Alberta.
Gazprom delays Baltic, Sakhalin LNG projects
Eurobond prospectus seen by Reuters; new Baltic LNG plant to be commissioned in 2022-2023. Russia's Gazprom has delayed liquefied natural gas (LNG) plans on Sakhalin island and in the Baltic Sea, a Eurobond presentation showed on Monday. The delays could disrupt Russia's plans to carve out a bigger share of the global LNG market, where it aims to triple its market share of less than 5 percent by 2035. Gazprom plans to expand the Sakhalin-2 project off Russia's Pacific coast by 2023-2024…
Gazprom: Long-term Contracts, New Pricing to Boost Revenue
Russia's Gazprom, the world's largest conventional gas producer, said on Tuesday that a combination of long-term contracts with new pricing mechanisms and forms would allow it to boost revenues and strengthen its market position. In recent years, Gazprom has started to add spot pricing elements to some of its contracts with European clients, which are linked to oil prices. Gazprom has also held gas auctions in addition to supplies based on long-term contracts. (Reporting by Katya Golubkova; Editing by Maria Kiselyova)
SACGASCO Acquires Equity, Control of Natural Gas Prospects
Sacramento Basin-focused conventional gas producer and developer, Sacgasco Limited confirmed the acquisition of additional equity and the securing of operatorship in its Dempsey and Alvares conventional natural gas prospects in the Sacramento Basin, California. Sacgasco has signed a letter of intent (‘LOI’) to acquire an additional 35% equity in, and Operatorship of its flagship Dempsey and Alvares Prospects through the acquisition of private company Peregrine Limited (‘Peregrine’).
Sacramento Basin Farmout Confirms AMI Value
Sacramento Basin‐focused conventional gas producer and developer, Sacgasco Limited (ASX: SGC) (“Sacgasco”) has taken a key step in unlocking the value of its conventional natural gas opportunities by farming out a working interest in its operated onshore California Area of Mutual Interest (the “AMI”) to private company Bombora Natural Energy Pty Ltd (“BNE”). BNE will fund additional oil and gas leases over highly prospective structures in the Northern Sacramento Basin (Refer to Fig 1 below).
LNG Trade Routes in Flux as New Supply Brings Price Convergence
Australia's ascent to liquefied natural gas (LNG) producing giant is choking off trade routes from Atlantic to Pacific markets established after Japan's Fukushima nuclear disaster, giving rise to new routes. Mass cargo diversions from west to east earned traders fat margins as Asian markets commanded steep price premiums, partly driven by Japan's scramble to replace lost nuclear output. Waning Asian demand, major new supply from nearby Australia and converging global LNG prices are all putting a stop to long-haul diversions.
Wärtsilä' Inert Gas Solution for LNG Carriers
Daewoo Shipbuilding and Marine Engineering (DSME) in South Korea has contracted Wärtsilä to supply combined inert gas generators and gas combustion units for 17 new LNG Carrier vessels under construction at the company's yards. The vessels are being built for leading operators in Singapore, Greece, South Korea, Cyprus and Canada. These significant contracts with Wärtsilä were signed in June and September. These will be the first ever units delivered by Wärtsilä that combine inert gas generators (IGG) and gas combustion units (GCU) with high capacity.
Gazprom Focuses on Global Shale Gas Industry
The Gazprom Board of Directors took notice of the information about the results of monitoring the shale gas industry evolution around the world. It was pointed out that nowadays the proven shale gas reserves across the globe were estimated at about five trillion cubic meters, which was less than three per cent of the world's aggregate proven gas reserves. Besides, the proven shale gas reserves are concentrated mostly in the USA as well as in Canada and China to a much lesser degree. A drop in oil and gas prices undermines the shale industry development.
Sinopec Gets Nod for Coal-to-Gas Pipeline
China has approved a pipeline to transport synethic gas from coal-to-gas projects in the country's far west to the southern coast, energy giant Sinopec said on Wednesday. The pipeline, which would run 8,400 kilometres (5,200 miles) from the restive region of Xinjiang to the manufacturing hub of Guangdong province, carrying up to 30 billion cubic metres (bcm) gas a year, has a price tag of over 130 billion yuan ($20.5 billion), Sinopec said in a statement.
