• Natural Gas News

    Natural Gas Daily: June 23rd, 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: June 23rd, 2020

US Gas Deliveries for Export Down 60% Since March: EIA

After reaching a record 9.8bn ft3/day in March, US natural gas deliveries to export facilities fell to less than 4bn ft3/day in June, the US Energy Information Administration (EIA) said, citing data compiled by IHS Markit.

 

The Big Picture:

  • A mild winter – which built natural gas storage in both Europe and North America to near record levels – and economic measures to limit the Covid-19 pandemic have combined to push global natural gas demand lower, the EIA said, limiting the economic viability of US LNG exports.

 


China's LNG Imports Jump 19% in May

China’s LNG imports in May totalled 5.23mn metric tons, up 19% yr/yr, customs department data showed.

 

The Big Picture:

  • Meanwhile, China’s pipeline gas imports in May were 2.61mn mt, down 16.6% yr/yr, the data showed.

 


UAE's Adnoc Sheds Stake in Gas Grid for $10bn

The UAE's Adnoc has struck a deal to sell a 49% interest in its gas pipeline system to a group of international investors for $10.1bn, the national oil company announced.

 

The Big Picture:

  • Adnoc has sought to expand its midstream and downstream businesses in recent years by forging partnerships with foreign firms to attract the necessary investment.

 


BP Invests in Methane Leak-Detecting Software

BP's venture capital arm BP Ventures has invested $5mn in Satelytics, a cloud-based geospatial analytics software company, as part of efforts to halve the methane intensity of its operations, the UK major said.

 

The Big Picture:

  • BP's drive to tackle methane emissions is part of plan to become a net zero emissions company by 2050. It plans to unveil a strategy for reaching this goal in September.

 


Tellurian Founder Takes Company Reins

Struggling US LNG developer Tellurian has named co-founder Charif Souki as its executive chairman, the company said, taking the opportunity to comment on the global LNG outlook.

 

The Big Picture:

  • Driftwood LNG, near Lake Charles in Louisiana, aims to produce up to 27.6mn mt/yr of LNG.

  • The project suffered a setback in May when a preliminary deal for India's Petronet to take its gas expired without the pair finalising a supply contract. Tellurian laid off 70% of its workforce in March and swung to a net loss of $40.7mn in the first quarter.

 


Samsung Heavy Delivers LNGC to TMS Cardiff

South Korean shipbuilder Samsung Heavy Industries delivered the first of a series of newbuild LNG vessels to Greek TMS Cardiff Gas on June 1, TMS said in a LinkedIn post.

 

The Big Picture:

  • The vessel is the newest addition to the fleet managed by TMS and the second vessel of the company that has been chartered to Total Gas & Power, the company said.