• Natural Gas News

    Natural Gas Daily: July 16th, 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 16th, 2020

US Lifts Nord Stream 2 Sanctions Exemption

US Secretary of State Mike Pompeo said Washington would remove a sanctions exemption for Russia's Nord Stream 2 gas pipeline, meaning further punitive action can be taken against the project.

  • Russia insists that Nord Stream 2 is simply a commercial venture and shorter route to market than the aging pipelines crossing Ukraine. It has also accused the US of using sanctions to ensure there is room in Europe for expanded US LNG imports.

 

Total Seeks Sale of UK Pipe Stake: Report

France's Total has held negotiations with potential buyers for its 25.7% interest in the Shell-operated Shearwater Elgin Area Line (Seal) gas pipeline in the UK North Sea, Reuters reported on July 15 citing sources. The stake could fetch up to $200mn, the sources said.

  • The oil majors are continuing with their withdrawal from the North Sea, as they look to raise cash to weather the downturn and fund higher-margin projects.

 

Japan Bank Confirms Mozambique LNG Financing

The Japan Bank for International Cooperation (JBIC) confirmed that $14.4bn project financing for Total-led Mozambique LNG has been finalised. News agency Reuters had reported about the financing on July 9.

  • The final investment decision (FID) on the project was taken by Texan producer Anadarko Petroleum in June last year. In September, Total closed a $3.9bn purchase of an operating stake in the project from Anadarko.

 

Oz Annual LNG Exports Up 6%

Australian LNG shipments during the 12-months to June 30 (FY2020) were 79.4mn metric tons, up 5.7% yr/yr, energy consultancy EnergyQuest said in a report.

 

Shell Invests in Oz Online LNG Trading Platform

Shell Ventures, a corporate venture capital fund of Anglo-Dutch major Shell, has bought a minority stake in GLX Digital, an Australian company that has developed trading software solutions for commodity markets, GLX said on July 14 in a statement without disclosing any financial details.

  • GLX was launched in 2016 and its LNG trading platform became operational the following year. Some of the other high profile investors in the platform include Woodside and Petronas.

 

Qatari Nakilat's H1 Profit Up 15%

Qatari shipping company Nakilat’s net profit during the six months to June 30 was Qatari riyal 550mn ($151mn), up 15% yr/yr, it said on July 15 in a statement.