Natural Gas Daily: November 11th, 2020
'TIME TO EXPLORE GAS OUTPUT CO-ORDINATION': GECF
It may be time for gas exporters to explore the co-ordination of their output, Algeria's energy minister Abdelmadjid Attar told the annual meeting of the Gas Exporting Countries Forum at a virtual event. He had talked approvingly in his opening remarks of the unprecedented cuts in oil output that Opec and Russia had achieved earlier this year, in the wake of the demand slump caused by the Covid-19 pandemic.
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- Gas demand has also fallen, sending prices spiralling downwards as supply has remained steady, beyond offtake cuts.
- Early in November, Opec and GECF had a virtual meeting to share experiences, which, NGW speculated in an editorial, could extend to the adoption of quotas for gas production too.
BRAZIL, ARGENTINA FACE GAS SUPPLY CRUNCH: RYSTAD
Brazil and Argentina, two of South America’s more powerful economies, will face a natural gas supply crunch by 2025, as imports from Bolivia dwindle and barriers remain to expanding their own domestic gas resources, Norwegian consultancy Rystad Energy reported November 10.
- “Even though Argentina and Brazil have extensive gas resources, a lack of pipeline interconnections and low investments pose hurdles in meeting rising domestic demand,” says Rahul Choudhary, upstream analyst at Rystad Energy. “This, coupled with lower gas exports from their traditional trading partner Bolivia, has triggered the need for a significant increase in LNG imports in the near future.”
GERMAN LNG TERMINAL 'CONFIDENT OF SUCCESS'
The Dutch-German-backed German LNG Terminal "continues to believe that the global LNG market and the German energy market offer enough potential for two LNG terminals in Germany," it told NGW in an email November 10. NGW had asked it whether it was hopeful, given Uniper's failure to tie in adequate demand for capacity for its own planned terminal.
- It did not comment on specific companies who have been linked in capacity talks in the past. Swiss Axpo had earlier expressed interest in booking capacity including 1mn mtyr from Goldboro on Canada's east coast.
- Uniper told NGW November 6 that it was considering other options, including a smaller terminal and a terminal geared towards hydrogen.
CONOCOPHILLIPS MAKES NORWEGIAN GAS FIND
ConocoPhillips has made a gas discovery at a wildcat well in the Norwegian Sea, 27 km southwest of the Aker BP-operated Skarv field, the Norwegian Petroleum Directorate (NPD) said.
- ConocoPhillips has a 65% interest in PL 1009, while Poland's PGNiG has 35%.
PETRONAS LAUNCHES LNG BUNKERING
Malaysia's Petronas announced it had launched LNG bunkering at Pasir Gudang in Johor state, in partnership with the Netherlands' Titan LNG.
- Another emerging hub for LNG bunkering in the Asia-Pacific area is Singapore, where port authorities recently invited bids for two extra LNG bunkering licences.
NEWCASTLE LNG PROJECT TO PROVIDE BUNKERING
South Korea's Epik has opted to provide LNG bunkering services at its Newcastle GasDock LNG project in New South Wales (NSW), it said.
- In April last year it recruited Australia’s Watpac to design, engineer and construct the onshore infrastructure.
- The project was listed as "critical state significant infrastructure" by the NSW government in August, which should help with the permitting process.