Natural Gas Daily: November 24th, 2020
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.
- 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.
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.
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.
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 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.
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.