Natural Gas Daily: August 25th, 2020

China's Jan-Jul LNG Imports Up 9%

China’s LNG imports during the first seven months of the year were 36.22mn metric tons, up 9.3% yr/yr, customs department data published August 23 showed.

Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. ngc.co.tt

• Meanwhile, China’s pipeline gas imports during January-July period were 19.49mn mt, down 9.6% yr/yr.

• During the first seven months of the year, production was up 9.5% yr/yr.

Gazprom, Mongolia Agree Study for Chinese Pipe

Russia's Gazprom has agreed a memorandum of intent with the Mongolian government to form a company to develop a feasibility study on building and operating a pipeline to China, it said on August 25.

• The Power of Siberia 2 is expected to run for 1,942 km, carrying up to 50bn m³/yr of gas from the Russian Arctic through Mongolia to China.

• This would add to supplies via the 38bn m³/yr Power of Siberia 1 pipeline, which began pumping eastern Siberian gas to China in December.

Gazprom Gets State Funds for Baltic LNG Venture

Russia's state development bank VEB has agreed to provide a rubles 55bn ($740mn) loan for a gas processing and LNG production complex Gazprom plans to build at the Baltic port of Ust-Luga, it said on August 24.

• Ust-Luga is the starting point of the Nord Stream 2 pipeline.

• Gazprom agreed with Rusgazdobycha on gas supplies for the facility in June.

QP Sheds Stake in Qatari Fertiliser Firm for $1bn

Qatar Petroleum (QP) has sold its 25% stake in Qatar Fertiliser Co. (Qafco), the world's largest single-site urea producer, to local conglomerate Industries Qatar (IQ) for $1bn, IQ said on August 23.

• The deal will provide QP with funds to help bankroll its LNG expansion plans, which call for an increase in Qatar's liquefaction capacity from 77mn mt today to 110mn mt/yr by 2024-2025, and 126mn mt/yr in 2027.

Total Enters Security Pact with Mozambique Govt

France's Total, operator of the $20bn Mozambique LNG project, has signed a deal with the Mozambique government to boost security, following a series of Islamist attacks in the country's north.

• Mozambique LNG aims to produce up to 13.1mn metric tons/yr of gas from the Golfinho and Atum gas fields in Mozambique's Offshore Area 1 concession.

• Total secured $15.8bn in financing for the LNG export project in July.

Pakistan Announces New Gas Find

Pakistan's Oil and Gas Development Co (OGDCL) and its partners have made a gas and condensate discovery in the country's northwest, the state-owned company announced.

• The company reported another gas find in the Kohat district last September.

• OGDCL also completed a well this month at the Guddu block straddling Pakistan's Punjab and Sindh provinces, but failed to find commercial volumes of gas.