• Natural Gas News

    Natural Gas Daily: September 9th, 2020

Summary

Daily digest of the latest natural gas news and LNG news by Natural Gas World.

by: NGW

Posted in:

Complimentary, Covid-19, Daily Digest, Top Stories

Natural Gas Daily: September 9th, 2020

Tokyo Gas Buys Stake in US Gas Asset: Press

Japanese utility Tokyo Gas has bought a stake in a natural gas asset in the US state of Louisiana for approximately yen 20bn ($188mn), Nikkei reported.

  • While Tokyo Gas is expanding in the US, fellow Japanese company Sumitomo recently offloaded its entire 30% stake in a Marcellus shale gas project in the state of Pennsylvania.

 

Petronas Launches Virtual LNG Pipeline

Malaysian state-run Petronas on September 8 said it recently launched a virtual pipeline system (VPS) solution for supplies from its LNG regasification terminal in Pengerang, Johor.

  • The VPS solution delivers LNG using trucks fitted with cryogenic tanks to off-grid customers, the company said.

  • Many companies are looking to distribute LNG by road, railways or waterways – a concept otherwise known as ‘virtual pipeline’.

 

Kosmos Strikes $200mn Farm-Down Deal with Shell

Texas-based Kosmos Energy has struck a deal to farm down its interests in a raft of exploration projects in Africa and Latin America to Shell for up to $200mn, it said in a stock filing.

  • Once the deal is completed, Kosmos will be left with a "focused" exploration portfolio with 6bn barrels of gross resource potential in the Gulf of Mexico and West Africa

 

Poland Accelerates Move from Coal

Poland has sped up plans to phase out the use of coal, under its updated energy strategy published on September 8, creating more room for gas.

  • Poland receives the bulk of its current gas supply from Russia, but its long-term supply contract with Gazprom runs out at the end of 2022 and it does not intend to renew the deal. Qatar and the US will be among its new suppliers.

 

Sonatrach Enlists Contractors to Build Gas Pipes

Algeria's Sonatrach has awarded contracts to six domestic companies for the construction of 700 km of pipelines and networks to carry gas from fields in the country's southwest, it said on September 8.

  • Algeria wants to forge new partnerships to expand its oil and gas production, having passed a new hydrocarbon law late last year that has helped generate interest.
  • It was reported today that US firm Air Products has been hired by Sonatrach to supply four of its MCR cryogenic heat exchangers for the GL1Z LNG facility in Arzew, Algeria.

 

Tullow Writes Down $1.4bn, Eyes Further Sales

Tullow Oil is looking at further asset sales that could total $1bn following its $500mn Ugandan asset sale to French major Total, it said as it announced first-half write-downs totalling $1.4bn.

  • Production across both fields in Ghana was strong in H1 with the Jubilee field averaging 84,700 boe/d gross and the TEN field averaging 50,900 boe/d gross.

  • The company produced less gas than expected at the Jubilee and TEN blocks last year because of operational setbacks.