• Natural Gas News

    Natural Gas Daily: August 7th, 2020

Summary

Daily digest of the latest natural gas news and LNG news by Natural Gas World.

by: NGW

Posted in:

Complimentary, Covid-19, Daily Digest

Natural Gas Daily: August 7th, 2020

China's Gas Imports During Jan-Jul Up 2%

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.

 

Oz Worley Wins Corpus Christi Contract

Australian services company Worley has been awarded a master construction services agreement by Corpus Christi Liquefaction, a subsidiary of Cheniere Energy, it said in a statement.

  • Cheniere said August 6 it had net income of $197mn in Q2 2020, reversing a net loss of $114mn incurred in the same period last year.

 

MOL Earnings Fall by Third in Q2

MOL's core earnings (Ebitda) fell by a third year on year to forints 124.1bn ($424mn) in the second quarter, the Hungarian oil firm said.

  • MOL completed its $1.5bn takeover of Chevron's stake in the Azeri-Chirag-Gunashli (ACG) fields in Azerbaijan in April.

 

OMV's Focus on Gas, Petchems will Reduce Carbon Footprint: CEO

OMV is reducing its carbon footprint by increasing the share of gas in its production mix at the expense of crude oil, the Austrian firm's CEO Rainer Seele said on August 5.

 

Lukoil Suffers 15% Fall in H1 Gas Output

Russia's largest independent oil and gas producer Lukoil produced 14.8bn m3 of gas during the first half of 2020, marking a 15% fall from its output of 17.4bn m3 a year earlier. The decline mainly occurred in the second quarter, with output in the three months down 24% yr/yr at 6.4bn m3.

  • Lukoil blamed the result on weaker gas demand in China, which led the company to cut supply at its two projects in neighbouring Uzbekistan, Southwest Gissar and Kandym.

 

Sumitomo's LNG Tanker Gets Approval

Sumitomo Heavy Industries Marine & Engineering, a wholly-owned subsidiary of Japan’s Sumitomo Heavy Industries, was granted an approval in principle (AiP) last month from Lloyd’s Register for a medium-size tanker equipped with an LNG dual-fuel system, Sumitomo said on August 5.

  • LNG fuelled engines present environmental challenges in that unburnt methane is emitted into the atmosphere from their exhaust gas.
  • The ME-GI type main engine designed by MAN Energy & Solutions that will be installed on the vessel will substantially reduce those emissions and also improve fuel efficiency, Sumitomo said.