Natural Gas Daily: November 13th, 2020
India’s Petronet LNG has no plans to invest in LNG liquefaction projects as the global market is awash with LNG, the company said on November 12 during an analyst conference. It further stated that there has been no progress on finalising a preliminary deal it signed last year to invest $2.5bn in US developer Tellurian's Driftwood LNG project in Louisiana.
- Petronet said that return on investment at liquefaction projects was not very attractive, given the glut in global LNG supply.
BP has downsized the second phase of the Greater Tortue Ahmeyim (GTA) LNG project off Senegal and Mauritania in order to cut costs, its partner Kosmos Energy reported on November 9.
- "We believe phase two will be the most competitive brownfield LNG expansion project globally," Inglis said, "with limited upstream capital requirements expected to be less than $1bn gross to first gas," Kosmos CEO Andy Inglis said in an earnings call.
The number of active rigs in the US rose again in the week just ended, oilfield services firm Baker Hughes said in its November 13 report, the ninth consecutive week the count has risen.
- In Canada, the active count rose by three to 89. All were in Alberta: one additional rig put to work in Saskatchewan was offset by one rig idled in BC. Of the 89 active rigs, 50 are drilling for gas and 39 for oil.
LNG is being used more and more in the port of Rotterdam, the port authority said on November 12, with nine LNG bunkering vessels now operating in the area. The Gas Agility bunkering vessel of France's Total began refuelling the Jacques Saade containership, owned by French cargo shipper CMA CGM, on the morning of November 12 with 18,000 m3 of LNG, the port said.
Jacques Saade was delivered to CMA CGM in September 2020 and is the first of nine large-sized LNG containerships ordered by the shipowner in 2017 from China State Shupbuilding Corp.
Gas Agility is the largest LNG bunkering vessel in the world, and was launched at the Hudong-Zhonghua shipyard in China in October last year.