Natural Gas Daily: August 10th, 2020
Gazprom’s flows in July were again down massively (13.8%) on last year and on June (14.9%). The Coronavirus-impacted-demand will continue to restrain EU imports needs.
- Gazprom is not the only producer to swing supply any longer. For the first time, Gazprom might only hold half of the global spare capacity. All producers, except the lowest-cost LNG producer Qatar, are sharing the burden of reducing volumes to the EU.
The Philippines Department of Energy (DOE) has asked Manila-listed First Gen to complete additional requirements for its proposed floating LNG storage and regasification unit (FSRU) before it can proceed to the construction phase, according to local media reports.
Last month, First Gen shortlisted three companies to participate in a competitive selection process for the chartering of an FSRU for its Batangas project.
In December 2018, Japanese utility, Tokyo Gas, signed an agreement with First Gen to develop an LNG receiving terminal in the country. Tokyo Gas has a 20% stake in Fgen LNG. In September last year, First Gen picked Japan’s JGC Corporation for the engineering, procurement and construction work for the project.
Canadian Natural Resources Limited (CNRL), a senior producer primarily active in the oil sands region of northeastern Alberta, said it has agreed to acquire Montney-focused Painted Pony Energy for C$461mn (US$345mn).
- Painted Pony produces natural gas and natural gas liquids from the Blair, Daiber, Kobes and Townsend areas in northeastern BC.
- The crude market collapse could actually provide something of a bright light for Canada’s beleaguered gas producers.
The Tarim oilfield, one of China’s biggest upstream projects, increased its output by 9% yr/yr in the first seven months of 2020 to 18.08mn metric tons (mt) of oil equivalent, its state-owned operator CNPC said.
China’s gas production in 2020 is likely to maintain the strong growth momentum seen in the past two years, as the country’s top officials plan on a greater reliance on domestic resources to ease a reliance on foreign imports.