Natural Gas Daily: September 10th, 2020
Carbon capture and use (CCUS), bioenergy and hydrogen will play key roles in bringing the global energy system to net zero emissions by 2070, according to the 2020 edition of the Energy Technology Perspectives (ETP) released by the International Energy Agency (IEA).
- Under the net-zero emission scenario presented in the report, demand for natural gas will decline by just 8% in 2040, when it will be the biggest single energy source, providing 22% of total energy demand.
The average price of spot LNG imports into Japan contracted in August was $3.4/mn Btu, sharply down from $5.3/mn Btu in the same month a year earlier, the country's trade ministry (Meti) said on September 9. The price was down 19% month on month.
- Despite the declining trend in imports in recent months owing to the coronavirus outbreak, Japan remains the world's biggest LNG importer.
Singapore’s Delta Offshore Energy has launched a request for proposal (RFP) for delivery of LNG to Vietnam, it said on September 8.
- The company awarded a contract to US engineering firm McDermott International in late August for the front-end engineering design of a 35-km pipeline to carry gas from the LNG terminal to the plant.
- Despite Covid-19, emerging Asia remains a bright spot for LNG demand growth.
Italian transmission system operator Snam and engineering firm Saipem are to start working together on new energy transition technologies, they said.
- Their memorandum of understanding includes green hydrogen manufacture and transport and carbon capture, use and storage.
Mediterranean-focused producer Energean sustained $77.3mn in pre-tax losses in the first half of the year, it said on September 10, versus $4.5mn in losses a year earlier.
Energean, which is developing several major gas fields off Israel, is looking to close the purchase of Edison E&P from its parent Edison in the fourth quarter.
Energean is also awaiting the launch of its Karish gas project offshore Israel, but the start-up has been pushed back from the first half of 2021 to the second half.
A group of six Alberta First Nations is investing C$93mn (US$70mn) in a $1.5bn, 900 MW gas-fired combined cycle power plant west of the province’s capital being developed by Kineticor Resources.
The Alberta Indigenous Opportunities Corporation (AIOC), created by the provincial government to support the participation of indigenous communities in major energy projects, will guarantee a loan taken by the First Nations for the investment.