Natural Gas Daily: November 2nd, 2020

TRUMP SIGNS US FRAC PROTECTION ORDER 

 US president Donald Trump signed an executive order October 31 aimed at protecting the hydraulic fracture stimulation industry, according to various media reports.

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• The order, he was quoted as saying, would protect the state and its vast Marcellus shale gas industry from the “deep, catastrophic depression” that would result if Democratic rival Joe Biden took the Oval Office. 

BP SPUDS IRONBARK WELL OFF WEST OZ

BP has begun drilling an exploration well in the Carnarvon basin offshore western Australia targeting the giant Ironbark gas prospect, its Australian venture partner Cue Energy reported.

• BP has 42.5% interest in the WA-359-P permit containing the prospect, while Cue has 21.5%, Beach Energy 21% and New Zealand Oil & Gas 15%. Cue brought the other companies on board as partners last year.

• It is less than 50 km from the North Rankin platform - which ties into North West Shelf LNG plant - and is also near the Pluto and Wheatstone LNG infrastructure. 

US DOMINION CLOSES SALE OF ASSETS

US utility Dominion Energy has closed the sale of the majority of its gas transmission and storage assets to Berkshire Hathaway Energy, an affiliate of Berkshire Hathaway, it said.

• The operations include more than 5,500 miles of interstate gas transmission pipelines, about 775bn ft³ of operated gas storage and an operating 25% stake in Cove Point LNG terminal.

CHINA STARTS UP ANOTHER OFFSHORE FIELD

Chinese offshore operator Cnooc and Toronto-listed Husky Energy have launched production at the Liuhua 29-1 gas field in the south China Sea, Cnooc reported.

• It is the third field to start up as part of the $6.5bn Liwan gas project, following the launches of Liwan 3-1 and Liuhua 34-2 in March and December 2014. 

• Following the major gas reforms last year, there is still intense pressure from the government on Chinese producers to increase domestic gas production, as part of the strategy to reduce over-dependence on imports. 

FIRE BREAKS OUT AT CHINESE LNG TERMINAL

A fire broke out at the Beihai LNG terminal in China's Guangxi region, state media have reported, leaving five people injured.

• Sinopec agreed in July to transfer the terminal and other gas infrastructure to newly-formed operator PipeChina in July as part of the unbundling of China's gas sector, which boosted its third-quarter profits. 

EQUINOR TARGETS NET ZERO BY 2050

Norway's Equinor announced its "ambition" to become a net-zero greenhouse gas emissions company by 2050, while projecting that global demand for oil and gas will begin a gradual decline from 2030. 

• Equinor unveiled plans to reduce emissions to almost zero by 2050 earlier this year, with 40% and 70% reductions targeted by 2030 and 2040. The company's new target covers scope 1, 2 and 3 emissions.