• Natural Gas News

    Natural Gas Daily: July 1st, 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 1st, 2020

German Gas Imports up 13.3% Yr/yr in April

German gas imports were up 13.3% year on year (yr/yr) in April at 447,872 TJ, according to preliminary data published by trade statistics office Bafa, but were down 23% month on month (m/m).

 

The Big Picture:

  • European gas prices have fallen considerably over the past as a result of rising LNG imports and lockdowns put in place since March to contain the Covid-19 pandemic.

 


India Reforming Gas Pipeline Tariff: Minister

India is working on rationalising its gas pipeline tariff structure to make gas more affordable across the country and attract investment into the gas infrastructure business, the country’s petroleum and natural gas minister Dharmendra Pradhan said during a webinar.

 

The Big Picture:

  • The south Asian nation is looking to boost the use of gas, aiming to raise the fuel's share in its overall energy mix to 15% by 2030 from 6% today. The country’s first online delivery-based gas trading platform was launched last month.

 


Equinor to Build UK Hydrogen/CCS Plant

Norway's Equinor plans to build a plant in northern England that will produce hydrogen from natural gas and store the carbon that is released in the process, it announced.

 

The Big Picture:

  • Equinor and partners Shell and Total took a final investment decision on a carbon capture and storage (CCS) project off Norway in May. That project, Northern Lights, is expected to store up to 1.5mn mt/yr of CO2 under its first phase.

 


Tianjin Port LNG Imports Spike: Xinhua

LNG imports via China's Tianjin port jumped 25% yr/yr during the January-May period, Xinhua reported on June 29 citing data from Tianjin customs department.

 

The Big Picture:

  • Tianjin has two LNG receiving terminals, one operated by Cnooc and the other by Sinopec.

 


Sempra Raises Earnings Guidance, Refocuses

US utility Sempra has raised its earnings guidance for this year, following its $5.82bn sales of assets in South America. The company's investments are now focused on top-tier markets in North America, it said June 30.

 

The Big Picture:

  • In total, including the sale of the company's South American businesses and the company's US renewables business and non-utility natural gas storage assets, which was completed in 2019, the company has generated some $8.3bn in total cash proceeds from these divestitures.

 


Oz LNGL Administrator Seeks Advice on Next Move

The administrator for Australia’s LNG Limited (LNGL) said June 30 it has applied to the Supreme Court of Victoria for judicial advice before deciding whether to seek buyers for its remaining assets.

 

The Big Picture:

  • PwC Australia said it undertook an assessment of the solvency of the company after its key US asset, the 8.8mn mt/yr Magnolia LNG project in Louisiana, was sold in June, but was unable to see a clear path forward.