Natural Gas Daily: November 19th, 2020
Japan’s LNG imports in October came in at 5.94mn metric tons, down 5.7% yr/yr, according to the provisional data released by the country’s finance ministry on November 18. Month on month the decline was even bigger, at 8.6%.
- Despite the recent trend, Japan remains the world's biggest LNG importer. In the 12 months ending March 31 2020, the country imported 76.5mn mt of LNG, down 5% yr/yr.
A wave of green and blue hydrogen projects that are poised to be developed in coming years could unlock about $400bn worth of spending for the service industry between 2020 and 2035, Rystad Energy said on November 18. The figure excludes separate carbon capture and storage (CCS) development contracts, which could reach almost $35bn for Europe alone.
Of the total pipeline, Rystad has recently projected that about 30 GW of green hydrogen capacity is expected to be operational by 2035. Blue hydrogen initiatives are also growing in popularity, with several mega-projects being discussed at present, it said.
Gas infrastructure will be needed to transport molecules to meet energy demand when the wind is insufficient, said Europe's gas transmission group Gas Infrastructure Europe (GIE).
- "To make the best out of this green energy, the right infrastructure will need to be in place. The gas infrastructure will play its part in transporting large volumes of renewable hydrogen and ensure seasonal storage of hydrogen for the times when wind is not blowing," GIE said.
Norway has called for bids in the country's 25th offshore licensing round, covering 136 blocks in nine frontier zones, including eight in the Barents Sea and one in the Norwegian Sea, its petroleum ministry said.
The petroleum ministry announced receiving applications from 33 companies in the latest APA round in September.
- The latest numbered round comes as exploratory drilling off Norway is expected to fall to a 14-year low this year, according to a recent report by the Norwegian Petroleum Directorate.
India hopes to have 1,000 LNG filling stations along its major highways at intervals of a few hundred kilometres in the next three years, the country’s petroleum and natural gas minister Dharmendra Pradhan said.
- The government has identified LNG as a transport fuel as a priority area and the aim is for a tenth of trucks to run on natural gas.
- The Indian government is aiming to boost the share of gas in the energy mix from 6-7% today to 15% by 2030.
Earnings at Polish state gas company PGNiG surged in the first nine months of the year, thanks to the impact of an arbitration award paid by its Russian supplier Gazprom, it said.
- Under a ruling by an arbitration court in Stockholm, Gazprom paid PGNiG $1.5bn during the summer for previously overpricing gas supples.
- Mere months after resolving their last dispute, PGNiG and Gazprom are once again in a disagreement over the gas price. PGNiG said on November 3 it had requested talks to renegotiate the price it pays, as their long-term contract allows either party to do so every three years.