• Natural Gas News

    Natural Gas Daily: July 10th, 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: July 10th, 2020

API Report Says US LNG 50% Cleaner Than Coal

A new study from the American Petroleum Institute (API) released July 9 says US LNG exported to China, Germany and India to displace coal for power generation produces 50.5% fewer greenhouse gas (GHG) emissions in all base case scenarios studied.

 

Shell Seeks Exit from Major Indonesian Gas Project: Press

Anglo-Dutch major Shell is seeking a buyer for its 35% stake in Indonesia's flagship Masela gas block, the country's upstream regulator SKK Migas told local press on July 6. The company told NGW it could not give guidance on that.

  • Shell, which recently warned it would book up to $22bn in non-cash impairments after cutting its forecasts for oil and gas prices, is understood to be seeking the sale of assets in Australia and Norway as well.

 

Harnessing Gas Tech Could Cut Energy Emissions by Third by 2040: IGU

Gas technologies, ranging from the highly mature to the nascent, can potentially reduce energy sector emissions by up to one third by 2040, a report published by the International Gas Union (IGU) published on July 7 shows.

  • Gas technologies can promote structural transitions in the way energy is delivered and used, by enabling distributed energy systems and increasing efficiency of energy consumption.

 

Shell’s Canadian CCS Project Reaches Storage Milestone

Anglo-Dutch major Shell’s Canadian subsidiary said its Quest Carbon Capture and Storage project in Alberta had reached a milestone of 5mn mt of CO2 captured and stored in less than five years.

  • Lessons learned at Quest, Crothers said, have been incorporated into the design of the Northern Lights CCS project in Norway, which Anglo-Dutch Shell and its partners, France’s Total and Norway’s Equinor, sanctioned in May 2020.

 

Cyprus Lays Foundation of LNG Terminal

Cyprus has held a foundation-laying ceremony for an LNG import terminal, hailing the project as its largest ever energy investment.

  • With a budget of €289mn ($326mn), the project is being developed by a joint venture between China Petroleum Pipeline Engineering, a subsidiary of China's CNPC, and Greece's Metron, under a contract awarded in December.

 

Wintershall Dea to Book €750-800mn in Q2 Write-downs

Germany's Wintershall Dea warned it would book €750-800mn ($848-905mn) in non-cash, post-tax impairment charges in the second quarter, to account for the collapse in oil and gas prices.

  • Many other oil and gas companies have warned of substantial impairment charges in the three months ending June 30, including BP and Shell.