• Natural Gas News

    Natural Gas Daily: July 27th, 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, Top Stories

Natural Gas Daily: July 27th, 2020

Delek Eyes $2.25bn Bond Sale to Finance Leviathan Field

Israel's Delek Drilling intends to raise $2.25bn in an international bond offering in the coming weeks in order to fund further development of the Leviathan gas field, it said.

  • Leviathan was brought on stream at the end of 2019 and supplies gas to Israel, Egypt and Jordan. Delek's partners are US firm Noble Energy, due to be bought by Chevron, and Israel's Ratio Oil.

 

Ukraine's GTSOU Transits 45% Less Gas in H1

Ukrainian gas grid operator GTSOU transited 24.9bn m3/yr of gas during the first half of the year, down 45% year on year, it said on July 24.

  • Gazprom has suffered weaker sales in Europe this year as a result of restrictions put in place to slow the spread of the Covid-19, pandemic, as well as warmer weather, high levels of gas in storage and increased LNG imports. It used only 77% of the Ukrainian transit capacity it paid for in the first half of this year.

 

Gazprom Neft, Rosneft Start Storing Gas at Arctic Field

Russian oil producer Gazprom Neft said that its joint venture with Rosneft had put into operation an underground gas storage facility at a remote field in the Arctic, as a solution for dealing with associated petroleum gas (APG).

  • Russian anti-flaring law requires producers to utilise at least 95% of the APG they extract, and this presents a challenge at fields that are far removed from the national gas grid.

 

Eni Finds More Oil, Gas Offshore Vietnam

Italian Eni said its exploration well, Ken Bau-2X in Song Hong basin, has found oil and gas in Block 114, offshore Vietnam. The find further expands the potential of the Ken Bau discovery, it said.

  • “The gas market in Vietnam is rapidly growing, driven by the country’s consistent GDP progress and the consequent development of gas-to-power plants supplied by domestic resources and, in the future, imported LNG," Eni said.

 

New Study Pegs BC LNG Impact at C$500bn

A new briefing paper from the Conference Board of Canada suggests that the economic impact from the development of 56mn mt/yr of LNG export capacity in BC could trigger investments of more than C$500bn (US$374bn) between 2020 and 2064.

  • Additional investments to support the LNG projects include the C$6.6bn Coastal GasLink pipeline to connect the LNG Canada project to gas supply in northeastern BC.

 

Lukoil Enters Senegal Block

Russia's Lukoil has acquired a 40% stake in the Rufisque, Sangomar and Sangomar Deep (RSSD) project off Senegal from the UK's Cairn Energy for $300mn in cash, the companies said.

  • Lukoil said entering the project would reinforce its position off West Africa and increase its offshore experience. The Russian firm also took a stake in an offshore Congo-Brazzaville project in September for $800mn.