Local Gas Production News

India-based Reliance Industries' recently delivered FPSO Ruby on Sunday collided ‘lightly’ with an accommodation barge offshore the east coast of India, India’s Economic Times reported on the same day.The news website cited a Reliance spokesperson who said that the incident happened when a gangway from the accommodation barge got lifted and hit a staircase on the FPSO. Nobody was injured during the incident and both vessels sustained 'minor' damage. According to the RIL spokesperson, as reported by Economic Times, the project timeline is not affected.

Teekay LNG’s first Floating Storage Unit (FSU) has been successfully delivered to charterer Bahrain LNG. The vessel delivered from the yard at the end of August, before going on hire on 19 September, 2018. The vessel will be used to support Bahrain LNG in providing an LNG receiving and regasification terminal in Bahrain. The project is 30% owned by Teekay LNG Partners (TGP) and is expected to commence commercial operation in early 2019.The vessel will be used to support Bahrain LNG in providing an LNG receiving and regasification terminal in Bahrain. Bahrain LNG WLL is jointly owned by the Oil and Gas Holding Company (nogaholding) and a consortium consisting of Teekay LNG Partners L.P. (Teekay LNG), Gulf Investment Corporation (GIC) and Samsung C&T (Samsung).

Egypt is planning to import 80 cargoes of liquefied natural gas during the 2017-18 financial year that began in July, down from the 118 cargoes imported last year. Reuters reported that Egypt has been trying to speed up the development of recent gas discoveries with a view to halting imports by 2019. The report quoted Petroleum Minister Tarek El Molla saying that the country was  planning to import 154 cargoes of LNG in 2016-17 but it only imported 118 cargoes because of the increase in local gas production. Egypt expects to increase its LNG production by 1 billion cubic feet per day by the end of the current financial year to reach 6.2 billion cubic feet per day.

Indian state-owned gas company GAIL has reached a deal with Swiss energy trading firm Gunvor to swap American liquefied natural gas (LNG) cargoes for shipments from other sources, Reuters reported. It is the first time-swap agreement by GAIL, which is trying to juggle its LNG portfolio to cut costs for price-sensitive Indian customers after a sharp fall in Asian spot prices made its U.S. gas unattractive. GAIL will sell Gunvor 0.6 million tonnes of next year's LNG cargoes from Cheniere at a premium to GAIL's contracted price, FOB Sabine Pass, Louisiana, under the terms of the deal. GAIL has signed a 20-year purchase agreement for 3.5 mtpa of gas from Cheniere's export facilities, plus another 2.3 mtpa from Dominion Energy's Cove Point plant.

State-run gas company GAIL (India) Ltd has signed a time-swap deal with Swiss trader Gunvor to sell some of its U.S. liquefied natural gas (LNG), sources said, as the Indian firm tries to ease the burden of its costly foreign LNG supplies. It is the first time-swap agreement by GAIL, which is trying to juggle its LNG portfolio to cut costs for price-sensitive Indian customers after a sharp fall in Asian spot prices made its U.S. gas unattractive. The deal equates to around 5 percent of India's 2015/16 LNG imports and will support a government push to promote use of the cleaner fuel in fertiliser and the power sector, even as India's local gas production is falling.

Nogaholding, the investment and business development arm of Bahrain’s National Oil and Gas Authority (NOGA), recently hosted a dinner to mark the financial close of its LNG Terminal Project with Bahrain LNG WLL, the developer and owner of the first LNG receiving and regasification terminal to be developed on a public–private partnership (PPP) basis in the Middle East. Dr Dafer Al Jalahma, CEO of nogaholding, said: "Led by K-SURE, this well-structured LNG regasification terminal transaction attracted high quality project finance lending of $741 million for a tenor of 20 years. Jointly owned by the Oil and Gas Holding Company (nogaholding – 30 per cent) and a consortium consisting of Teekay LNG Partners LP (30pc)…

Bahrain LNG, the developer of the Gulf state’s receiving and regasification terminal for liquefied natural gas (LNG), has closed a $741 million syndicated loan for the platform’s construction. The private-public partnership  is being developed to supplement local gas production in Bahrain and ensure capacity to meet peak seasonal gas demand and industrial growth. Financing a project of this size and complexity is a landmark in the regional financial markets. According to the company, nine banks were lending the $741mn it will cost to build the plant and related infrastructure, capable of handling 800 million standard cubic feet per day when complete in 2019. The project includes a nitrogen facility, to lower the calorific value of imports as needed.

Dana Gas PJSC, one of   Middle East's leading regional private sector natural gas company, announces that it has achieved record production in 2013 in Egypt of 39,000 barrels of oil equivalent per day, including 190 mmscfd of gas and 8,500 barrels of liquids per day. The Company has made substantial capital expenditure investments to its Nile Delta operations over the last 18 months. These include new compression facilities, new fields being brought on stream and work to increase its numerous gas plants throughput. As a result of investments made since February 2012 production levels have reached a peak of 39,000 boepd, an increase of 13% over the year 2012. The average output year-to-date has been 34,000 boepd.

Oil major BP Plc has agreed to buy liquefied natural gas (LNG) from the new Brass project in Nigeria to help meet growing demand in the U.K. and the U.S. The deal, to be finalized later this year, is for annual shipment of two million tons of LNG for 20 years starting in 2010. The Nigerian gas will be delivered by Brass LNG and used by BP, one of the world's largest suppliers of LNG, to supply multiple markets in the Atlantic basin. Demand for imported LNG, gas cooled for easy transport by tanker, is booming as Europe and the United States turn to the fuel to compensate for falling local gas production. The Brass LNG project is backed by Italian oil and gas company Eni, U.S. oil majors Chevron and ConocoPhillips and state-owned Nigerian National Petroleum Corp.