Available Exclusively to Premium Subscribers:
Volume 4, Issue 15 - August 5, 2019
NGW Premium: For Professionals who seek in-depth understanding of current developments. Includes NGW Magazine and Exclusive Original Content. Have the Inside Track.
$20.00 per month, or annually at $198.00
NGW Magazine. Exclusive Content. The Inside Track.SUBSCRIBE TODAY
NGW Premium includes:
In this Issue:
EDITORIAL: UTILITIES IN THE MODERN AGE
The UK’s biggest utility Centrica never became a takeover target during the UK energy privatisation boom of the 1990s, but now as its share price languishes at a 22-year low, the question has opened up once more.
NT DRILLING APPROVALS PAVE WAY FOR NEW GAS SUPPLIES
The Northern Territory’s recent approval of a shale gas drilling plan, its first since a two-year moratorium on hydraulic fracturing was lifted in March 2018, is good news for both the territory and the country as a whole.
KAZAKHSTAN RAMPS UP GAS-FIRED POWER, PETCHEMS
The central Asian republic of Kazakhstan is best known as a major oil producer, with 1.9mn b/d crude oil and gas condensate production in 2018. It exports four fifths of the output. It is also a major importer of coal, which accounts for just over half – 53.5% – of its total primary energy demand, according to official statistics. Coal generates about 70% of its electricity.
TALKING SHOP IN THE E MED
The East Med Gas Forum (EMGF) had its second meeting July 25 in Cairo. EMGF was formed in January 2019 with the aim of becoming "an international organisation that respects the rights of members with respect to their natural resources in accordance with the principles of international law and support their efforts to benefit from their reserves and use of infrastructure." This also includes “commitment to paving the way for fruitful co-operation in the technical and economic fields, with a view to efficient exploitation of the gas potential in the region."
TURKEY'S E MED GAS QUEST
Turkey’s deployment of an exploration vessel to search for gas in Cypriot waters led to strong protests from the government in Nicosia, from the European Union (EU) and from the US. Ankara, however, insisted that it was fully entitled to explore for gas and to extract any gas it might find.
EQT MOVES TO OVERHAUL PERFORMANCE UNDER NEW LEADERSHIP
Shale gas producer EQT Corp is embarking on an ambitious overhaul of its performance under new company leadership. The shake-up comes after activist investor brothers Toby and Derek Rice engaged in a nine-month proxy fight that culminated in them winning control of the company’s board. The brothers had sold their company, Rice Energy, to EQT in 2017 for $6.7bn, making the combined company the largest US producer. However, they subsequently accused the new entity of underperforming, and said this could be turned around under the leadership of a new board.
GAS, POWER SECTORS BRACE FOR CYBER-ATTACKS
Apart from data theft and other regular cyber-threats faced by all businesses, interference in the gas and power sector can cause major disruption and damage, and severely affect many aspects of daily life.
Cybersecurity ranks second among corporate treasuries’ top areas of concern for the next three years, according to a recent survey by the Association for Financial Professionals. The issue is moving up the agenda as it grows in scale, with one aspect – data theft – projected to balloon to around 33bn records in 2023, up from 12bn in 2018, according to Cybercrime & the Internet of Threats 2018 from Juniper Research.
NIGERIA: TRIUMPH OF HOPE OVER EXPERIENCE
Following his re-election as president and the May 29 inauguration ceremony, Muhammadu Buhari dissolved his cabinet. All the ministers and heads of department who worked with him during his first term have stepped down from office.
It was not until July 23 that he sent his list of cabinet appointees to parliament, six weeks since winning the 2019 elections, an ill omen for a country so beset by bureaucratic delay. And with 43 appointees, he now has a fifth more than he had before, another bad sign.
BNEF OUTLOOK SHOWS SCALE OF CHANGE
Bloomberg New Energy Finance released its New Energy Outlook 19 (NEO 2019) in June, concentrating on the electricity system. However, it added new sections on coal and gas power technology; the grid of the future; energy access and policy; and decarbonisation technology.