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    Natural Gas Daily: December 7th, 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 7th, 2020

SINOPEC'S QINGDAO TERMINAL UNLOADS RECORD LNG

Sinopec-operated Qingdao LNG import terminal, located in the port city of Qingdao in Shandong province, has received and unloaded a record 6.18mn metric tons of LNG in the first 11 months of the year, the company said.

  • In addition to Qingdao, Sinopec operates receiving terminals at Tianjin and Beihai.

 

SANTOS, MITSUBISHI INK OZ BAROSSA LNG PACT

Australian Santos said it had signed a binding long-term LNG supply and purchase agreement with Mitsubishi Corp for the supply of LNG from the Barossa project. Santos CEO Kevin Gallagher said the agreement was another “significant" step towards a final investment decision (FID) on Barossa, which is targeted for the first half of 2021.

  • The agreement delivers an LNG offtake arrangement which represents over 80% of Santos' equity LNG volume from the Barossa project at the company’s expected 50% interest level following the previously announced sell-down to Japan’s Jera.
  • Santos currently holds a 62.5% operated interest in the Barossa joint venture along with partner SK E&S (37.5%). Santos is also a joint venture partner and operator in Darwin LNG with a 68.4% interest.

 

OZ EAST COAST LNG EXPORTS RISE 10% IN NOV

LNG exports from projects located on the Australian east coast came to 2.04mn metric tons in November, up 9.7% year on year and up 1.5% month on month, according to the latest data published by Gladstone Ports Corp.

  • There are three projects located on Australia's east coast: the ConocoPhillips-Origin Energy Australia Pacific LNG, Shell’s Queensland Curtis LNG, and the Santos-led Gladstone LNG.

 

CANADA’S PIERIDAE SETS 2021 GUIDANCE

Canada’s Pieridae Energy issued a 2021 spending guidance that includes capital expenditures in the C$305mn-C$420mn (US$238mn-US$328mn) range and net operating income (NOI) of C$100mn-C$130mn.

  • Upstream capital spending has been set in the C$45mn-C$55mn range, while the pre-development expense budget of C$10mn-C$15mn for the 10mn mt/yr Goldboro LNG project has been set ahead of an anticipated final investment decision (FID) in June 2021.

 

ENERGEAN TO BUY OUT OFFSHORE ISRAELI PARTNER

Energean is in talks to acquire private equity fund Kerogen's 30% stake in the Karish and Tanin gas leases off Israel, raising its ownership to 100%, the producer said in a London stock filing. 

  • Kerogen bought a position in Energean Israel, the holder of the Karish and Tanin gas leases, in 2017.
  • A final investment decision on developing the Karish and Tanin was reached in 2018, and first gas is expected in the fourth quarter of 2021.

 

PETROBRAS CLEARS BIDS FOR URUCU FIELDS

Brazilian state oil company Petrobras said that its board had approved binding offers for the Urucu oil and gas cluster in the Amazonas state as part of its divestment programme.

  • Petrobras put the Urucu fields up for sale in June as part of a sweeping divestment programme, aimed at raising capital to pay off debts and invest in deepwater projects.