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    Natural Gas Daily: December 29th, 2020

Summary

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

by: NGW

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Complimentary, Covid-19, Daily Digest, Top Stories

Natural Gas Daily: December 29th, 2020

NORD STREAM 2 CONSTRUCTION MOVES FORWARD

Russia has completed a 2.6-km section of Nord Stream 2 in Germany's exclusive economic zone using the Russian-registered Fortuna pipelaying vessel, the pipeline's operator told NGW on December 29.

  • Construction of the pipeline is understood to have resumed in early December, according to German maritime authorities.

  • Russian authorities have said they expect Nord Stream 2 up and running in early 2021.

 

TARIM FIELD UPS SUPPLIES TO CHINA'S WEST-EAST PIPE

The Tarim oilfield supplied 24.86bn m3 of natural gas to the West-East Gas Pipeline network between the start of the year and December 27, up 18% year/year, its state-run operator CNPC said on December 29. 

  • The oilfield, one of China’s biggest upstream projects, saw its output reach 30mn metric tons of oil equivalent for the year to December 21, its state-owned operator CNPC said on December 22 without offering a year-on-year comparison.

  • Overall Chinese gas production came to 170.2bn m3 in January through November, up 9.3% yr/yr, data published on December 15 by the National Bureau of Statistics showed.  

 

BOLIVIA DISCOVERS GAS "MEGAFIELD"

Bolivia has discovered a gas "megafield" some 1 trillion ft3 in size, its president Luis Arce announced at a press conference on December 24.

  • The find was made at the Boicobo Sur-x1 well at the Caipipendi field in the southern department of Chuquisaca. The project is operated by Spain's Repsol and also involves Anglo-Dutch Shell, Latin America-focused Pan American Energy and Bolivia's state-owned YPFB.

 

SHELL TAKES STAKES IN COLOMBIAN GAS BLOCKS

Anglo-Dutch Shell has closed the takeover of 50% interests in the Fuerte Sur, Purple Angel and COL-5 blocks off Colombia's Caribbean coast from the country's state-owned Ecopetrol, the latter said on December 23. 

  • Ecopetrol and Texas-based Anadarko made the play-opening Kronos-1 discovery at the Fuerte Sur block in July 2015. Anadarko transferred its offshore interests in Colombia back to Ecopetrol in 2019 shortly before it was acquired by fellow Texan producer Occidental.
  • Colombia is looking to replenish its dwindling gas reserves to maintain production, which has been supplemented in recent years with LNG imports via a terminal in Cartagena.

 

STORAGE ACTIVITY BULLISH FOR CANADIAN GAS PRICES: RBN

Canadian gas storage volumes ended the summer injection season at record high levels, and while winter temperatures have been milder than anticipated, gas is being withdrawn from storage faster than expected, suggesting Canadian gas prices will remain strong, RBN Energy analyst Martin King said in a blog post.

  • Canadian gas exports to the US have been higher, with an expected net gain over the course of the winter of about 300mn ft3/d, while Alberta’s shift away from coal to natural gas in the power sector has picked up pace and will continue to do so through 2021 and into 2022.

 

BP'S OZ IRONBARK WELL TURNS UP DRY

The Ironbark-1 exploration well in WA-359-P offshore Western Australia has been drilled to its total depth and did not encounter any hydrocarbon shows, Sydney-listed Cue Energy said.  

  • BP has 42.5% interest in the WA-359-P permit containing the prospect and serves as its operator, while Cue has 21.5%, Beach Energy 21% and New Zealand Oil & Gas 15%. The companies got regulatory clearance for the Ironbark-1 well in September.