Natural Gas Daily: November 24th, 2020
INDIA'S LNG IMPORTS RISE 16% IN OCT
India’s LNG imports in October came in at 3.28bn m3 (2.32mn metric tons), up 16.1% yr/yr, according to the data published by the Indian oil and gas ministry's Petroleum Planning and Analysis Cell (PPAC) on November 23. Imports were up 10.5% month on month.
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- Indian LNG imports have recovered in the last couple of months as demand for gas has increased, thanks to the Indian government easing lockdown measures.
- LNG imports in October cost some $700mn, down from $800mn in the same month last year.
SANTOS' NARRABRI CBM PROJECT GETS OZ APPROVAL
Australian federal government has approved Santos’ Narrabri coalbed methane project, the company said in a statement. This follows New South Wales (NSW) Independent Planning Commission’s (IPC) conditional greenlight in September.
- "Santos is excited about the prospect of developing the Narrabri Gas Project, a 100% domestic gas project that can provide the lowest cost source of gas for NSW customers," Gallagher said.
OIL, GAS WILL REMAIN IN CANADA’S ENERGY FUTURE: REGULATOR
Canada’s use of oil and natural gas will decline over the next 30 years, the federal Canada Energy Regulator (CER) said in a new report, but fossil fuels will still make up more than 60% of the country’s fuel mix by 2050 without more aggressive energy transition policies.
- In the reference case scenario, fossil fuel consumption is relatively unchanged due largely to steady improvements in energy efficiency; in the evolving scenario, fossil fuel consumption has already peaked and will fall 35% by 2050.
METHANE PARTNERSHIP GOES FOR DATA
The established Oil & Gas Methane Partnership (OGMP) has reaffirmed its commitment to measuring, monitoring, reporting and cutting methane leaks, in the wake of the European Union's methane strategy published in October.
- Several companies restated their positive views on the need to adhere to more methodical standards November 23, including German Wintershall Dea and French Total.
CONSTRUCTION STARTS ON FIRST DUTCH BIO-LNG UNIT
Construction has begun on the Netherlands' first bio-LNG production unit in Amsterdam Westpoort, local developer Nordsol said on November 17.
- Nordsol formed a strategic partnership on the project in June with Shell, its minority investor, and waste management firm Renewi.
'LNG REPLACES DUTCH GAS OUTPUT': VEMW
The value of Dutch oil and natural gas reserves fell from €169bn in 2013 – $200bn in today's money – to less than €8bn in 2019 while gas extraction in the Netherlands has fallen almost 60% over that time. In 2013 the giant Groningen field produced 53.9bn m³ and other fields just under 30bn m³ for a national total of 82.3bn m³.
- Groningen, discovered in the late 1950s by Anglo-Dutch Shell and US ExxonMobil, was the cornerstone of the west European gas industry, offering very flexible gas supplies in winter to customers at home and abroad.
- Since 2018, the Netherlands has been a net gas importer with a strongly growing share of LNG, according to the Dutch statistics office in an article cited November 24 by major utility users' group VEMW.