Natural Gas Daily: August 18th, 2020
Indian Petronet's Q1 Profit Drops 11%
Petronet LNG, India’s largest LNG importer, on August 17 reported a consolidated net profit of rupees 4.99bn ($67mn) during the three months to June 30 (Q1), down 11% yr/yr as less LNG was imported.
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India’s natural gas consumption during June was up 5.5% yr/yr, according to NGW calculation using the data published by Indian oil and gas ministry's PPAC.
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India’s LNG imports in June were down 6.9% yr/yr, PPAC said last month.
China's Gas Output in July Up 5%
China's natural gas production in July was 14.2bn m3, up 4.8% yr/yr, as per data published on August 14 by the country’s statistics bureau.
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China’s natural gas consumption during the first six months of the year was up 4% yr/yr, National Development and Reform Commission said on July 31 in a statement.
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Chinese gas imports via pipeline and in the form of LNG were up 1.9% yr/yr in the first seven months of the year, marking a significant slowdown in growth, caused by the Covid-19 pandemic's impact on demand.
BHP Mulls Oz Bass Strait Project Stake Sale
Anglo-Australian multinational BHP plans to sell its stake in Bass Strait oil and gas project offshore Victoria, it said in its full year results report.
- BHP owns 50% stake in the project while ExxonMobil owns the remaining 50%. The US major has also put its stake up for sale.
- On Scarborough gas development, BHP said its final investment decision is expected to be aligned with Woodside’s.
Neptune, Eserv to Digitise UK Cygnus Platform
Privately-backed Neptune Energy is partnering with 3D technology firm Eserv to digitise operations at its Cygnus platform in the UK southern North Sea, it said.
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The new technology will lower the carbon emissions per barrel of oil equivalent of production, which the UK offshore industry is aiming to lower to net zero this decade.
