Global LNG Demand to Double by 2040: Shell
Global demand for liquefied natural gas (LNG), rose by 12.5% to hit 359 million tons last year, according to Royal Dutch Shell’s annual LNG Outlook report.According to the forecast by Shell, LNG demand was expected to double by 2040 to 700 million tons, with natural gas set to play “a growing role in shaping a lower-carbon energy system.”Asia is expected to remain the dominant region in the decades to come, with South and South-east Asia generating…
Mitsubishi Beats Shell to Buy Eneco
A group led by Japan's Mitsubishi Corp will buy Eneco in a deal valuing the Dutch energy firm at 4.1 billion euros ($4.52 billion), Eneco said on Monday, beating off rival bids from Shell and private equity firm KKR.Eneco, a company owned by 44 Dutch municipalities and with a strong focus on renewable energy, said it had been swayed by Mitsubishi's plans to allow the company to continue its strategy and retain its corporate identity.The deal, backed by Eneco's boards and a committee representing shareholders…
Prelude FLNG Ships First LNG Cargo
The first shipment of liquefied natural gas (LNG) has sailed from Shell’s Prelude floating LNG (FLNG) facility offshore Australia, Shell announced Tuesday alongside its joint venture partners INPEX, KOGAS and OPIC.This shipment from the world’s largest floating producer of LNG, located 475 kilometers northeast of Broome in Western Australia, will be delivered by the LNG carrier Valencia Knutsen to customers in Asia, more than eight years after financial…
Global LNG Demand to Rise by 35mt in 2019
Global liquefied natural gas (LNG) supply is set to rise by 35 million tons (mt) in 2019, Trend reports with reference to forecasts of Royal Dutch Shell. Acording to Shell’s latest annual LNG Outlook, Europe and Asia are expected to absorb all this additional supply.Strong demand for cleaner-burning fuel in Asia continued to drive rapid growth in liquefied natural gas (LNG) use in 2018, with global demand rising by 27 million tons to 319 million tons, according to Shell’s latest annual LNG Outlook. Shell expects demand to reach about 384 million tons in 2020.
Environmental Concerns to Lift LNG Demand
China LNG demand soars amid push to reduce pollution; LNG demand to reach 384 mln tonnes in 2020 -Shell.Global liquefied natural gas (LNG) trade is set to rise 11 percent this year as China leads a global drive to reduce pollution and tackle carbon emissions, Royal Dutch Shell said in an annual LNG report on Monday.Shell's forecasts, which see LNG demand rising to 354 million tonnes this year and to 384 million tonnes in 2020, reflect a burgeoning industry with new production facilities opening in Australia…
Shell Joins Dutch Pension Fund to Bid for Eneco
British-Dutch oil and gas company Royal Dutch Shell and Dutch pension fund manager PGGM are considering a joint bid for Dutch producer and supplier of natural gas Eneco, which is heavily invested in sustainable energy projects and worth an estimated USD 3.4 bln.This consortium is impressed with Eneco’s achievements in transforming the Dutch energy system through investments in sustainability and renewable energy. PGGM and Shell combine the knowledge…
Shell: LNG Supply Shortage Possible as Demand Surges
The global liquefied natural gas (LNG) market has continued to defy expectations of many market observers, with demand growing by 29 million tonnes to 293 million tonnes in 2017, according to Shell’s annual LNG Outlook. Such strong growth in demand is consistent with Shell’s first LNG Outlook, published in 2017. Based on current demand projections, Shell sees potential for a supply shortage developing in mid-2020s, unless new LNG production project commitments are made soon.
LNG Sellers, Asian Buyers Spar Over Contract Terms
A spat brewing between Qatar, the world's No.1 producer of liquefied natural gas (LNG), and its biggest customers in Japan underscores rising tensions between buyers and sellers of the super-chilled fuel as a supply glut unbalances the market. Importers of LNG having been pushing for greater benefits amid the surplus, signing new, cheaper contracts that give them more flexible terms, while exporters try to preserve long-term supply deals written in their favour during tighter markets.
LNG Producers Seek New Markets to Soak up Surplus
The world's top producers of liquefied natural gas (LNG) are investing in ship-fuelling operations, floating import terminals and power plants to open new markets and keep from drowning in a fuel surplus expected to last into the next decade. Companies such as Royal Dutch Shell, Total and Malaysia's Petroliam Nasional Bhd are scrambling to create demand as cheap coal and cleaner wind and solar power threaten to curb growth in the 250 million-tonnes-a-year LNG market.
Nord Stream 2 project : Gazprom talks with BASF, ENGIE, OMV, Shell, Uniper
Zurich hosted today a number of working meetings of Alexey Miller, Chairman of the Management Committee of Gazprom, with Klaus Schaefer, Member of the Board of Management of E.ON and Chief Executive Officer of Uniper, Hans-Ulrich Engel, Member of the Board of Executive Directors of BASF, Rainer Seele, Chairman of the Executive Board of OMV, Pierre Chareyre, Executive Vice-President of ENGIE, and Maarten Wetselaar, Member of the Executive Committee of Shell. The meetings addressed issues related to the Nord Stream 2 project.
Gazprom, Shell Mull LNG Projects
Hosting a Working Meeting yesterday at St. Petersburg, Alexey Miller, Chairman of the Gazprom Management Committee discussed with Harry Brekelmans, Maarten Wetselaar, Ronan Cassidy and Members of the Executive Committee of Shell a variety of issues relating to the strategic cooperation between Gazprom and Shell. Touching upon the Sakhalin II project, the parties highly appreciated the progress with its implementation. It was noted that in 2015 liquefied natural gas production within the project had totaled 10.8 million tons…
Shell Names Top Exec to Head BG During Integration
Royal Dutch Shell's top executive planning the integration of BG Group will become transitional CEO of BG after expected completion of the $48 billion acquisition next month, company sources said. The appointment of Dutchman Huibert Vigeveno to oversee the complex merger of the two global businesses comes as no surprise. Vigeveno was appointed last August to spearhead the joint Shell-BG integration committee along with BG's Sinead Lynch, and had previously headed Shell's operations in China and had also worked for the Anglo-Dutch company in Brazil…
Iraqis Selling Crude at $30 as OPEC Mulls Strategy
Iraq oil source sees flat to higher 2016 southern exports; BP says difficult to see large rise in Iraq output in 2016. Iraq may increase oil output further in 2016, although less dramatically than this year, intensifying a battle for market share between OPEC members and non-OPEC rivals that has forced Baghdad to sell some crude grades for as little as $30 a barrel. Iraq's output in 2015 has jumped almost 500,000 barrels per day (bpd), or 13 percent, according to the International Energy Agency (IEA).
Oil Majors Press Iran for Sweeter Oil Terms
Iran will have to offer lucrative contracts terms to draw back international oil companies at a time when the oil industry is more focused on profitability as it gears up for a longer period of low oil prices, executives said on Tuesday. Iran said in September it had approved a draft of international oil and gas contracts to attract foreign investors and oil buyers once international sanctions are lifted but has not provided details so far. The OPEC member will announce new oil and gas contracts at conferences in Tehran and London on Nov. 21-22 and Feb.
Shell Appoints Wetselaar as Integrated Gas Director
Royal Dutch Shell plc announced the appointment of Maarten Wetselaar Integrated Gas Director with effect from January 1, 2016. Integrated Gas in Shell has grown into a business that generated $11 billion of cash flow per year average over the last three years, compared to $2 billion in 2009, the company said. Integrated Gas is now being established as stand-alone organization in Shell, reflecting both its enlarged scale and investment potential. In this new role, Maarten will become a member of the Executive Committee of Shell.
Shell Announces LNG Sales Deal with Chubu Electric
Shell will begin supplying liquefied natural gas (LNG) to one of Japan’s leading electric companies from October 2014, in a deal that reinforces Shell’s position as a key LNG supplier in the country. Shell Eastern Trading (Pte) Ltd, a Singapore-based subsidiary of Royal Dutch Shell, signed a sales and purchase agreement today with Chubu Electric Power Co., Inc. (Chubu Electric) to supply up to 12 cargoes of LNG a year for the next 20 years. Chubu Electric supplies power to central Japan’s Chubu region, a major manufacturing hub.
