• Natural Gas News

    Natural Gas Daily: June 25th, 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 25th, 2020

India's LNG Imports in May Up 0.5%

After witnessing a sharp 29.4% yr/yr decline in April owing to the lockdown imposed by the government late-March to control the spread of Covid-19, India’s LNG imports in May saw a marginal yr/yr growth.

 

The Big Picture:

  • India is the fourth-largest LNG importer in the world.

 


Gazprom Raises $1bn From Eurobond Sale: Press

Russia's Gazprom has raised $1bn from the placement of seven-year Eurobonds, RIA Novosti reported on June 23 citing Gazprombank, which helped organised the sale.

 

The Big Picture:

  • Demand for the notes exceeded $2.2bn, of which around 70% came from international investors.

 


EU Recovery Plan Offers Great Chance: IEA (Update)

While great strides have been made in the European Union (EU)'s carbon emissions, greenhouse gas emissions from transport are still rising and the use of energy in buildings remains fossil-fuel intensive, said the International Energy Agency (IEA) as it launched a report on the EU.

 

The Big Picture:

  • The IEA maintains that stronger policies are needed, particularly with regard to the carbon price and regulatory risk, and the energy sector needs to be at the heart of those efforts, as it accounts for 75% of EU greenhouse gas emissions.

 


Sonatrach Extends LNG Supply Deal with Total

Algeria's national oil company Sonatrach has agreed with France's Total to extend a contract to supply 2mn mt/yr of LNG to the French market for another three years, the two said.

 

The Big Picture:

  • However the co-operation has limits: Algeria blocked Total's acquisition of Anadarko's assets in that country as part of the Occidental Petroleum-Anadarko deal.

  • Earlier this month the Algerian firm also extended its supply deal with Tunisia for another eight years until 2027, while also increasing volumes.

 


Alaska LNG Shaves Project Cost by 12.4%

Alaska Gasline Development Corp (AGDC), the state-owned agency sponsoring the proposed 20mn mt/yr Alaska LNG project, said it had shaved 12.4%, or $5.5bn, from the project’s price tag.

 

The Big Picture:

  • The US Federal Energy Regulatory Commission (Ferc), which approved the Alaska LNG project in May, announced that the AGDC had received a key water quality assurance certificate from the Alaska Department of Water Conservation.

 


Sempra Announces $2.2bn Exit from Chile

US energy group Sempra Energy has wrapped up the sale of its power assets in Chile to State Grid International Development, raising $2.23bn, it announced on June 23. The move, which follows the divestment of the company's Peruvian business in April, marks Sempra's complete withdrawal from South America.

 

The Big Picture:

  • Sempra CEO Jeffrey Martin said the deal was "an important step in narrowing [the company's] focus to the most attractive markets in North America."