Gas Volumes News

The Balticconnector gas pipeline between Finland and Estonia, which was damaged last month, will get a bigger northbound transmission capacity next year following repairs, Finnish operator Gasgrid said in a statement on Wednesday.The increase will come from an enhancement of the Latvia-Lithuania interconnection, which allows for higher gas volumes to be transported around the Finnish-Baltic region, it added.The pipeline will in the future get a base capacity of 70.5 gigawatt hours of gas per day in the direction from Estonia to Finland…

RWE is holding talks with a larger number of suppliers of liquefied natural gas (LNG), not just Qatar and North America, CEO Markus Krebber said, as Germany's largest power producer continues its efforts to replace Russian gas volumes.RWE earlier this year said it was in discussions with potential LNG suppliers in the United States and Qatar, as Germany tries to diversify away from Russia, its largest supplier of natural gas.Sources told Reuters in May that talks with Qatar have proven difficult over a disagreement regarding key contract clauses…

Global energy trader Vitol Group made a record net profit of just over $4 billion last year, sources familiar with the matter said, as oil, natural gas and other commodity prices soared.Vitol, the world's biggest independent oil trader, declined to comment.The unaudited result beats its previous record net profit in 2020, when oil markets were upended by the COVID-19 pandemic. Bloomberg reported Vitol made $3.2 billion in 2020. The company does not disclose its net profit.Last week, Vitol said revenues leapt to $279 billion in 2021 as oil prices recovered from 2020 lows.

A German regulator's decision to suspend licensing of the Nord Stream 2 pipeline could delay commissioning of the infrastructure to March 2022, government sources told Reuters."I expect that the start of Nord Stream 2 could be delayed until March 2022," a government source said on Wednesday.The source cited the need for Russia's Gazprom to create a limited liability company under German law, adding that Gazprom had flagged it would start doing so.Tuesday's move https://www.reuters.com/business/energy/german…

India’s new deepwater gas production could be under pressure from low spot LNG prices, says Wood Mackenzie.Deepwater is expected to drive India’s gas production growth, adding over 1 billion cubic foot per day (bcfd) of new supply by 2023. However, only 15% or 200 million cubic feet per day (mmcfd) of this supply has been contracted to date. With market demand impacted by Covid-19, and low spot LNG prices expected to persist at least until 2022, the full commercialization of these…

UK based Independent Oil & Gas (IOG) has confirmed that the Maersk Resilient rig spudded the Harvey appraisal well on 6 August 2019.The North Sea firm said in a press release that as previously indicated, completion of the well is expected to take approximately two months in the success case.According to the development and production company focused on becoming a substantial UK gas producer, Harvey is centrally located within IOG’s asset portfolio in UK Southern North Sea Blocks 48/23c, 48/24a, and 48/24b, close to the Thames Pipeline export route.The primary objective of the well is to confirm gas volumes which management estimate at 85/129/199 BCF Prospective Resources in the Low/Best/High case…

As spot prices in the region have remained near or below zero, natural gas flaring and venting in the Permian Basin in Texas and New Mexico reached a new all-time high in the first quarter of 2019, averaging as much as 661 million cubic feet per day (MMcfd).According to research conducted by Rystad Energy,  this widespread waste of a valuable commodity is the result of persistent infrastructure challenges, a lack of sufficient takeaway capacity and an unexpected outage on a key pipeline in the area.“We anticipate that basin-wide flaring will stay above 650 MMcfd before the Gulf Coast Express pipeline comes online in the second half of 2019…

Norwegian energy company Equinor has announced its 2018 sales of natural gas totalled $26bn, an increase of 29% from 2017.Equinor sold a total of 100 billion cubic metres (bcm) of gas worldwide in 2018. The company is the second-largest gas supplier to Europe, as well as the largest producer of natural gas on the Norwegian Continental Shelf (NCS)."As more countries prepare for the energy transition, Equinor sees strong market opportunities for gas and expects global demand to grow by around 10% towards 2030," Equinor said.Equinor is the largest producer of natural gas on the Norwegian continental shelf and the second-largest gas supplier to Europe. The company also has a significant gas portfolio outside Norway.

Polish state-controlled oil and gas company Polskie Górnictwo Naftowe i Gazownictwo SA (PGNiG) is set to receive a spot cargo of U.S. liquefied natural gas (LNG).The Warsaw-headquartered oil and gas company said in a statement that it will receive a delivery of liquefied gas shipped to Świnoujście by Centrica LNG Company Limited. It will be the third spot delivery arriving at the President Lech Kaczyński Terminal this year.The Hoegh Gallant vessel will arrive in Poland carrying on board approximately 65 thousand tonnes of LNG, which, after regasification, will yield almost 90 mcm of gas. The LNG comes from the U.S. and will be supplied…

Vitol said that the Offshore Cape Three Points (OCTP) integrated oil and gas project offshore Ghana has commenced delivery of gas from the Sankofa field to Ghana National Petroleum Corporation (GNPC).Both Vitol and GNPC are partners in the OCTP project alongside operator Eni. The offshore project is expected to provide stable supplies of cost effective and environmentally friendly, domestic fuel for the Ghanaian power sector, said Vitol.The estimated net cost of gas to Ghana will be less than $4.5/MMBtu, greatly reducing Ghana’s fuel costs compared to liquid fuels or imported gas.The project will provide approximately 180 MMscf/d for at least 15 years, sufficient to supply half of Ghana’s power generation requirements.

Spot LNG exports in government's cross-hairs; ConocoPhillips, Origin, Shell now in the firing line. The Australian government on Monday warned that the country's east faced a worse-than-expected natural gas shortfall in 2018, but the competition watchdog said the gap could easily be filled by diverting uncontracted exports to the local market. It is now up to the government to decide by Nov. 1 whether to pull the trigger on its Australian Domestic Gas Security Mechanism, which allows it to curb liquefied natural gas (LNG) exports from the nation's east coast if it determines there will be a shortfall in any year. The supply gap identified…

Maritime industry technology specialists Martek Marine say it is setting the bar high when it comes to offshore gas safety. The company has developed a first-of-its-kind gas sampling system for a new moored floating production unit, which forms part of the Jangkrik Complex gas fields development in Indonesia. The system has been developed to dramatically improve offshore crew safety through the use of advanced gas sampling technology. The worst offshore disaster in history, the Piper disaster on July 6…

A spat brewing between Qatar, the world's No.1 producer of liquefied natural gas (LNG), and its biggest customers in Japan underscores rising tensions between buyers and sellers of the super-chilled fuel as a supply glut unbalances the market. Importers of LNG having been pushing for greater benefits amid the surplus, signing new, cheaper contracts that give them more flexible terms, while exporters try to preserve long-term supply deals written in their favour during tighter markets. Worried some buyers are becoming too bold in their push for an advantage, Qatar Petroleum warned customers in Japan - by far the biggest LNG importer - not to press too hard in long-term supply talks, because it could result in Japanese companies being squeezed out of Qatari gas projects.

In contrast to an international downturn, French port Marseille Fos has reported exceptional results for July with 7.8 million metric tons of cargo and 387,000 passengers – up by 18.6 percent and 13 percent respectively on the same month last year. General cargo totaled 1.64 million metric tons (up 8 percent) after growth in all three sectors – containers, ro-ro and conventional. Box throughput rose 11 percent to more than 1 million metric tons, representing a 12 percent unit increase to 112,768 teu. Traffic through the Fos deep sea container terminals is now 4 percent ahead on the first seven months of last year, while the Terminal de Mediterranee in Marseille set a July record for its container activity. Liquid bulks were 26 percent better at 5.11 million metric tons.

Sochi hosted today a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Claudio Descalzi, Chief Operating Officer of Eni. The parties addressed the main areas of and prospects for enhancing the bilateral cooperation in the energy sector, in particular, the partnership within the South Stream project. It was pointed out that new supply routes would provide European consumers with the required gas volumes over the long run. The meeting participants also discussed the issues of Russian natural gas supply to Italy.

Chevron Corporation today announced that its Bangladesh subsidiary has commenced natural gas production from the Bibiyana Expansion Project in the northeastern part of the country. The project included an expansion of the existing gas plant to process increased natural gas volumes from the Bibiyana Field, additional development wells and an enhanced gas liquids recovery unit. The project is expected to boost Chevron-operated natural gas production capacity in Bangladesh by more than 300 million cubic feet per day to 1.4 billion cubic feet per day. In addition, the project is expected to increase the company-operated natural gas liquids production capacity by 4,000 barrels per day to 9,000 barrels per day. Chevron’s Bangladesh subsidiary has a 99 percent working interest in Bibiyana.

Aker Solutions acquires managed pressure drilling specialist Managed Pressure Operations (MPO). Managed Pressure Operations International, Ltd. (MPO) is a company that has successfully developed the next generation of continuous circulation, riser gas handling and managed pressure drilling systems. The main rationale for using managed pressure drilling is to improve safety and efficiency, enable access to new fields with challenging drilling conditions, and enhance the life of mature fields.

Statoil awards Ramboll Oil & Gas the detailed design contract for the 36” & 18" pipelines for the 481 km-long Polarled project. The Polarled pipeline project, which crosses the Polar circle, is part of the plans for developing fields further north in the Norwegian Sea. The purpose is to ensure gas transport capacity for gas volumes from planned and future field developments, such as the field developments of Aasta Hansteen, Linnorm and Zidane. Part of the 36” Polarled pipeline…

Today at 10:00 (Moscow time), in full compliance with the effective contract, Gazprom switched Naftogaz of Ukraine to a prepayment of gas supplies. The decision was made owning to persistent non-payments by Naftogaz of Ukraine. The overdue debt of the company for the supplied Russian gas equals USD 4.458 billion: USD 1.451 billion – for November and December 2013 and USD 3.007 billion for April and May 2014. By the proforma invoice for June the payments also were not received. Starting from today the Ukrainian company will receive only prepaid volumes of Russian gas.

Kerr-McGee Corp. reported second-quarter 2001 net income of $175 million ($1.71 per diluted share). This compares with income before special items of $217 million ($2.13 per share) and net income of $110 million ($1.11 per share) in the same prior-year quarter. The 2000 quarter included $107 million ($1.02 per share) in special charges. No special charges were recorded in the 2001 quarter. "Kerr-McGee continued to generate strong earnings and cash flow per share during the second quarter while taking steps to further strengthen and balance its portfolio of assets," said Luke R. Corbett, Kerr-McGee chairman and chief executive officer. "We have supplemented our drilling success with the announced agreement to acquire HS Resources, a core U.S. onshore gas asset.

Ziff Energy and Gas Processing Management Inc. analyze the gas growth areas of the Western Canadian Sedimentary Basin in Alberta and British Columbia. Ziff Energy, a division of HSB Solomon Associates LLC (Solomon), and Gas Processing Management Inc. (GPMi) announced the launch of the Gas West for LNG Growth Study, which analyzes the gas growth areas of the Western Canadian Sedimentary Basin in Alberta and British Columbia as key suppliers of natural gas to the developing liquefied natural gas (LNG) facilities on the West Coast of British Columbia (Canada) and Oregon (United States). The proponents of 16 natural gas liquefaction (NGL) and export facilities have applied to the Canadian National Energy Board for licenses to export gas volumes or have announced potential projects.

Eni, with partners Lundin and Det Norske hoped for oil but discovered gas & condensate at the Salina structure in western part of the Barents Sea. Det norske oljeselskap ASA earlier announced the discovery of hydrocarbons in the Salina prospect in production license 533, operated by Eni. The well confirmed the existence of gas in two reservoir units; in the Cretaceous Knurr formation, and in the Jurassic Stø formation. The well was drilled to a total depth of 2,371 meters below sea level, down to Triassic rock in the Snadd formation. The operator’s estimate of recoverable gas volumes is between six and eight billion cubic meters (40-50 million barrels of oil equivalents).

Aegis Group, a Leader in Oil, Gas and Chemical Logistics, announced successful early commissioning of the 70,120 KL Bulk Liquid Terminal at Pipavav port on West coast of India. The Pipavav - Phase I expansion was initiated in February 2013 to set up Bulk Liquid Terminal of 1,20,000 KL & 2,700 MT of Gas Terminal & was targeted to commission in H2 FY2015. However, the best efforts of in-house project team resulted in advancement of project by six months. Over 50% Liquid Facilities has now been commissioned with 13 additional tanks operational with a storage capacity totaling to 70,120 KL. Phase I of capacity expansion at Pipavav is a greenfield project to set up Bulk Liquid Terminal with 31 tanks aggregating to the storage capacity of 1…