Tyra II Production Successfully Restarted
The Tyra Redevelopment Project (Tyra II) has restarted production. At plateau, the Tyra hub will produce 5.7 million cubic meters of gas and 22,000 barrels of condensate per day.TotalEnergies operates the Tyra field on behalf of Danish Underground Consortium, a partnership between TotalEnergies (43.2%), BlueNord (36.8%) and Nordsøfonden (20%).The Tyra Redevelopment Project is, to date, the largest project carried out on Danish Continental Shelf with the fabrication and installation of eight new platform topsides.
Neptune Energy Starts Production from Gas Well in Germany
Oil and gas company Neptune Energy started production from its production from its operated Adorf Z17 gas well in the municipality of Georgsdorf, northwestern Germany.The Z17 well - in the Carboniferous formation - is expected to increase Neptune’s production from the Adorf licence by 1,800 barrels of oil equivalent per day to around 6,300 boepd. Construction of a dedicated processing plant at the site for treatment of the gas was also completed earlier this year.Neptune Energy’s Managing Director in Germany…
Wintershall Dea Looks to Domestic Production as Russia has 'Destroyed' Trust
Germany's Wintershall Dea, a shareholder of the Nord Stream 1 pipeline and longstanding Gazprom partner, on Tuesday said it would look to increase domestic oil and gas output since Russia has lost its status as a reliable energy supplier.If Europe wants to reduce its dependence on imports it has to look at domestic energy supplies, Chief Executive Mario Mehren told journalists after second-quarter results showed adjusted net income up 262% at 608 million euros ($618 million)."Even…
U.S. Natgas up 2% on Higher Demand, Soaring Global Prices
U.S. natural gas futures edged up about 2% on Tuesday on record power demand in Texas, forecasts for more gas demand over the next two weeks than previously expected, a reduction in gas output, low wind power and much higher global gas prices.Power demand in Texas failed to hit a new all-time high on Monday due to less hot weather, but will likely break peak use records on Tuesday and later this week as homes and businesses keep air conditioners cranked up to escape a lingering heatwave.
Gas Prices Soar in Europe on Tight Russian Supply
European gas prices soared more than 30% on Tuesday as low supplies from Russia reignited concerns about an energy crunch as the region heads for colder weather.A key pipeline which normally delivers gas from Siberia to Europe continued to work in reverse on Tuesday, traders said, sending flows from Germany to Poland, while supplies of Russian gas from Ukraine to Slovakia were also subdued.Russian energy exports have been in the spotlight amid the country's broader standoff with the West…
Philippines Says No to New Coal Projects. Puts Focus on Gas
The Philippines has stopped accepting new proposals for coal-based power projects to encourage investment in other energy sources like natural gas and renewables, the government's energy chief said on Wednesday.The moratorium on endorsements for greenfield coal-powered plants comes as the government aggressively pursues natural gas as a major source of energy, not just for power generation but also industrial, commercial and household sectors.Coal is set to remain the dominant power source for years to come…
World First LPG-Retrofit BW Gemini Heads for Sea Trials
BW LPG’s low-speed main-engine converted to dual-fuel runningReportedly the first successful conversion of the main engine aboard the LPG carrier – from an MAN B&W 6G60ME-C9.2 type to an MAN B&W 6G60ME- LGIP dual-fuel type capable of operating on fuel oil and LPG – has been carried out on BW Gemini, which is part of the fleet of Oslo-listed BW LPG – the world's leading owner and operator of LPG vessels.The conversion and start of gas and sea trials will make the BW Gemini the world’s first commercial vessel to be propelled by a two-stroke LPG dual-fuel engine.
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.
Woodside's Revenue Slumps More than Expected
Australia's Woodside Petroleum Ltd reported a worse-than-feared 29% drop in quarterly revenue, hit by weak spot liquefied natural gas (LNG) prices, but said it still expected to book a net profit in the first half.The hit came due to the double whammy of a global gas glut and a slump in demand with the coronavirus pandemic, and sent the company's shares down more than 2% while its peers were all trading higher."It's been a very difficult time for our industry and some external challenges are just simply beyond our control…
China: BP, ENN Sign 300,000t a Year Gas Supply Deal
British oil major BP has signed a gas supply agreement with China's ENN Group (ENN) for the supply of 300,000 tonnes per year of pipeline gas re-gasified from LNG for two years from January 1, 2021, in Guangdong, China. The LNG will be received and re-gasified through the LNG receiving terminal of Guangdong Dapeng LNG Company Limited (GDLNG) where BP holds regasification capacity. Dev Sanyal, executive vice president of BP gas & low carbon energy, said: “Our strategy is to integrate energy value chains and…
India to End Federal Control of Gas prices, Lift LNG transport Use
India will gradually end federal controls on gas pricing as it seeks to attract foreign investment and technology to lift local output, oil minister Dharmendra Pradhan said on Friday.India, which is a large emitter of greenhouse gases and has multiple gas pricing regimes, aims to raise the share of gas in its energy mix to 15% by 2030, from 6.2%."This is an incentive we are giving to investors to come to India and take advantage of pricing and marketing freedom and produce more and invest more…
Gastech Postponed for 2021
Gastech, one of the world's largest gas, LNG and energy industries events has been postponed for 2021 due to the COVID-19 pandemic.The event was expected to take place in Singapore in September this year, however, the organizers have now decided to delay the event to September 13 to 16, 2021.Organizers dmg events said the decision had been based on concerns around the global pandemic, accessibility and for the wellbeing of speakers, delegates, exhibitors and visitors. Nick Ornstien…
Kazakhstan: No Shutdown Planned for COVID-19-hit Tengiz Field
Kazakhstan has no plans to shut down oil production at its biggest oilfield, Tengiz, despite the novel coronavirus outbreak among its workers, the Central Asian nation's energy minister said on Wednesday.Kazakhstan's chief sanitary doctor said last week the field's operator, Chevron-led Tengizchevroil, might have to suspend operations if a plan to curb the spread of the virus at the site fails.But Energy Minister Nurlan Nogayev told a briefing there was no immediate risk of such measures being taken."The matter of shutting down the field is not being considered…
Lockdown Measures Tightened at Kazakhstan's Karachaganak Gas Field
Kazakhstan has tightened lockdown measures at its biggest gas condensate field Karachaganak after confirming the first case of novel coronavirus among its staff, authorities said on Monday.The chief sanitary doctor in Western Kazakhstan province where Karachaganak is located ordered an effective 7 p.m.-7 a.m. curfew at camps where Karachaganak workers reside and barred vehicles from entering and leaving the field.Karachaganak Petroleum Operating (KPO), which runs the giant field, confirmed its first COVID-19 case on May 22.
Gas Output to Resume at Israel's Leviathan After Brief Halt
Production at Israel's offshore Leviathan natural gas field will resume in the coming hours after an emergency shutdown on Saturday, the project's operator Noble Energy said [on Saturday].The platform's flare system had been activated to burn off excess gas, generating a flame visible from shore, in what Israel's Energy Ministry called an "emergency closure."Noble initially referred to it as an "operational event" but updated later it had been a false alarm caused by a gas detector…
Snam Sees Limited Impact from Coronavirus on Targets
Italian gas company Snam can't reliably calculate the effects of the coronavirus pandemic on its business outlook but doesn't see any major impact, it said on Thursday."The company expects a limited impact on its economic targets and to the investment programme, proportional to the speed of recovery of operations," it said in a statement on first quarter results.Europe's biggest gas pipeline company has put in place emergency measures to ensure it can keep gas flowing during the virus outbreak.In its quarterly results statement…
Virus Lockdowns Pummel Global Gas Demand, Force LNG Output Cuts
Lockdowns to slow the coronavirus pandemic are pummelling gas demand in the world's biggest buyers of liquefied natural gas (LNG), pushing Asia's spot prices to record lows and forcing some suppliers to start cutting output. Economies worldwide have ground to a halt as virus containment measures have taken their toll, slashing gas demand for power generation, heating, cooking, vehicles and chemical manufacture. The world's biggest LNG markets - Japan, China, South Korea, and India - are all seeing a drop in demand.
Linde, Hyosung to Build World’s Largest Liquid Hydrogen Plant in S. Korea
South Korea's Hyosung and the global industrial gases provider Linde Group will invest in the construction of a liquid hydrogen plant on an area of about 30,000 square meters within the site of Hyosung Yongyeon plant in Ulsan.Its annual capacity of production will be 13,000 tons of liquid hydrogen, which is enough to fuel 100,000 sedans. According to Hyosung, the plant will be the world’s single largest liquid hydrogen manufacturing facility. The two companies will form a joint venture this year…
Pertamina Buys NWS Condensate at 'Deep Discount'
Indonesia's state oil and gas company PT Pertamina has bought a cargo of Australian North West Shelf (NWS) condensate at a deep discount of $8 a barrel to dated Brent on a cost-and-freight (CFR) basis, three trade sources told Reuters on Wednesday. That was equivalent to a spot discount of $10 a barrel on a free-on-board (FOB) basis, the sources said, likely the widest spot discount in years. The cargo, due to arrive in early June, was sold by Exxon Mobil Corp, two of the sources said.
Indian LNG Importers Issue Force Majeure Notices
Indian liquefied natural gas (LNG) importers have started to issue force majeure notices as domestic gas demand slumps and as port operations in the country get hit by a lockdown to curb the spread of coronavirus, sources told Reuters."Demand has reduced drastically and it is likely to go down further, a company source with Gail (India) said."Only fertilizer, power and refineries are running at parcel loads.
