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National Petroleum Corporation News

20 May 2021

UTM Offshore Taps KBR for Support at Nigeria's First FLNG Project

Image by Pvince73/AdobeStock

Engineering and construction services giant  KBR has won a contract with Nigeria's UTM Offshore to support the development of Nigeria's first Floating Liquefied Natural Gas (FLNG) facility.Acting as Owner's Engineers, KBR will be responsible for a multi-disciplined due diligence review of the Pre-Front End Engineering Design, being completed by Japanese engineering company JGC.UTM Offshore is leading the development of the 1.2 million tonnes per year FLNG facility in collaboration with LNG Investment Management Services…

13 May 2021

JGC Lands Pre-FEED Deal for Nigeria's First FLNG Project

Image by Pvince73/AdobeStock

Japan's JGC has been awarded the Pre-Front End Engineering and Design (Pre-FEED) contract for an FLNG facility project in Nigeria.The project is being run by UTM Offshore Limited, a Nigerian private company engaged primarily in crude oil sales and construction equipment leasing, and the Nigerian National Petroleum Corporation.This project calls for the Pre-FEED of an FLNG facility with a production capacity of 1,200,000 tons annually using gas from the Yoho gas field owned by ExxonMobil and the Nigerian National Petroleum Corporation.

22 Mar 2021

BV Completes Classification of Ghana's LNG Floating Regasification Unit

Credit: BV

Bureau Veritas (BV), a testing, inspection, and certification body, has completed the classification of the Torman LNG floating regasification unit (FRU) at Tema port, Ghana in sheltered waters.The unit is combined with a floating storage unit (FSU) for the delivery of gas to onshore consumers."This exciting development of Gasfin’s facility – involving the Torman LNG FRU and a Moss-type LNG floating storage unit (FSU), both classed by Bureau Veritas – paves the way for the first…

11 Nov 2019

Asian LPG Market to Cross $109Bln by 2024

The Asian liquefied petroleum gas (LPG) market stood at over $81.4 billion in 2018 and is projected to grow at a CAGR of over 5% to cross $109 billion by 2024, as increasing demand for LPG  as a fuel for power generation in remote and off-grid locations in comparison to its less environment-friendly alternatives like coal, diesel and fuel oil.Increasing demand for LPG used to run vehicles (Autogas)  is being witnessed as it is a comparatively cheaper automotive fuel and can be used in vast applications related to transportation, said a report by ResearchAndMarkets.Of the overall LPG consumed across the globe, nearly 87% is used for residential/consumer use.By source, the Asian LPG market has been categorized into Refinery, Associated Gases & Non-Associated Gases.

26 Sep 2019

CPIH, Equinor Team Up on Offshore Wind

Chinese power giant China Power International Holding (CPIH) and Norwegian energy firm Equinor have inked a memorandum of understanding (MoU) to cooperate on offshore wind projects off China and Europe.“China is rapidly increasing its use of renewables and natural gas. The country is set to become the world’s biggest offshore wind market by 2030. As an offshore wind major, Equinor is excited to collaborate with CPIH to develop offshore wind” says executive vice president New Energy Solutions, Pål Eitrheim.“CPIH, as a leading power generator in China, has been striving to develop its international strategy to become a pioneer of reliable energy provider worldwide.

16 Aug 2019

Teekay Adds 4th Arc 7 Icebreaking LNG Carrier

Bermuda-headquartered Teekay has taken delivery of Vladimir Voronin, the fourth in a series of six Arc 7 icebreaking liquefied natural gas (LNG) carriers intended for Yamal LNG project."Named after the famous Soviet sea captain, we have recently taken final delivery of Vladimir Voronin HN 2431, the fourth in the series of our six Arc 7 ice breaking LNG newbuilds," said a press statement from Teekay, which has developed from a regional shipping company into one of the world's largest marine energy transportation, storage & production companies.With a capacity of 172,410 cbm, the Bahamas-flagged ship features a length of 299 meters and a width of 50.1 meters…

23 Jul 2019

Novatek Closes in on Arctic LNG 2

Russian natural gas producer Novatek said it had completed the sale of stakes in its Arctic LNG-2 project to two Chinese companies and a consortium of two Japanese companies.The second largest natural gas producer in Russia announced the closing of the sale of participation interests in Arctic LNG 2 Project to wholly owned subsidiary of China National Petroleum Corporation (CNPC), wholly owned subsidiary of CNOOC Ltd. (CNOOC), and the consortium of Mitsui & Co and Japan Oil, Gas and Metals National Corporation (Japan Arctic LNG).“We now have formed the structure of the Project’s participants by successfully closing the sale of interests in Arctic LNG 2…

02 Jul 2019

Mitsui, JOGMEC join Arctic LNG-2

Japanese trading house Mitsui & Co and state-owned Japan Oil, Gas and Metals National Corporation (JOGMEC) have signed a sales and purchase agreement with Russia’s Novatek for a 10% participation interest in the Arctic LNG 2 project.The share will be acquired through the Dutch Company, Japan Arctic LNG B.V., in which Mitsui has invested jointly with JOGMEC. The equity ratio of JOGMEC and Mitsui will be set at 75 percent and 25 percent respectively.The project will develop natural gas and liquefaction facilities with a production capacity of 19.8 million tonnes per year from the conventional onshore gas field located on the Gydan Peninsula within the Arctic Circle…

10 Jun 2019

Novatek Pact with Chinese Duo on Arctic LNG 2

Russia's second largest natural gas producer, Novatek has signed share purchase agreements with two Chinese oil giants for the sale of participation interest in the Arctic LNG 2 project.Novatek announced that it has signed the Share Purchase Agreement with China National Offshore Oil Corporation (CNOOC) in relation to the sale of a 10% participation interest in the Arctic LNG 2 project.The Agreement will close in the nearest future subject to approval by regulatory authorities of the Russian Federation and the People’s Republic of China.Novatek signed a separate Share Purchase Agreement with wholly owned subsidiary of China National…

10 May 2019

Natural Gas Consumption Up 10% in China

According to the preliminary estimate, the consumption of natural gas in China exceeded 27 million cubic meters in 2018, registering a YOY increase of more than 10%, said a report.The growing Chinese economy and stricter environmental protection policies drive the growth of natural gas consumption in China. In 2018, the Chinese government introduced several environmental protection policies to further prevent and control atmospheric pollution and replace coal with natural gas in key areas, which pushed up natural gas consumption in China.The market survey by ResearchAndMarkets shows that in 2018, the consumption of natural gas for power generation…

26 Apr 2019

Novatek Sell 20% Stake in Arctic LNG 2 to China

Russian gas producer Novatek said on  that it had signed agreements with two Chinese companies to sell a combined 20 percent stake in its new liquefied natural gas project, Arctic LNG 2.Under the agreement, the Chinese firms -CNOOC and CNODC - will become shareholders in the Arctic LNG project with 10 percent each. Novatek gave no financial details in a statement announcing the agreements.According to a press release, Novatek  has signed a binding agreement to enter the Arctic LNG 2 project with China National Oil and Gas Exploration and Development Company Ltd (CNODC), a wholly owned subsidiary of China National Petroleum Corporation (CNPC).The binding agreement…

02 Jan 2019

Consortium Bags Commitments for Rovuma LNG Project

Area 4 co-venture participants -ExxonMobil, Eni, China National Petroleum Corporation (CNPC), Empresa Nacional de Hidrocarbonetos, Kogas and Galp - have secured liquefied natural gas (LNG) offtake commitments from affiliated buyer entities of the partnersA press release from ExxonMobil hailed this as a key milestone enabling the participants to rapidly move toward a final investment decision in 2019 on the first phase of the Rovuma LNG projectThose commitments are subject to the conclusion of fully-termed agreements, which will be finalized and initialed in the next weeks, and the approval of the government of Mozambique.“The Rovuma LNG marketing team has worked at an accelerated pace to reach this important milestone…

05 Dec 2018

Unfair Reporting on Piracy, Says Nigeria

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA), Dr. Dakuku Peterside, has called on the International Maritime Bureau (IMB) to ensure fairness and balance in its reportage of piracy issues on Nigeria’s territorial waters.Dakuku regretted what he called the exaggeration of reports on incidences on the country’s waterways by the IMB, a specialised department of the International Chamber of Commerce (ICC) dedicated to fighting maritime crime and malpractice.The DG noted that the Agency had put mechanisms in place to reduce piracy to the barest minimum. These, he said, include investing in the satellite surveillance system…

31 Oct 2018

Ghana FSU/FSRU Finally Under Construction

(Image: Gasfin)

Ghana's liquefied natural gas (LNG) import project is finally under construction, years after its original inception, with two vessels contracted to store and regasify the fuel by the second quarter of 2020, a project partner said on Wednesday.China Harbour Engineering Company has already begun construction work on a marina with a Floating Regasification unit (FRU) to be provided by the CSSC Jiangnan shipyard and a Floating Storage Unit by Gasfin, Gasfin's chief executive Roland Fisher said.Ghana has been trying to get an LNG import project off the ground for years…

24 Sep 2018

OGCI Pledges to Tackle Methane Emissions

The Oil and Gas Climate Initiative (OGCI) has announced a target to reduce by 2025 the collective average methane intensity of its aggregated upstream gas and oil operations by one fifth to below 0.25%, with the ambition to achieve 0.20%, corresponding to a reduction by one third.The methane intensity refers to the methane that gets lost in the atmosphere when producing oil and gas, as a percentage of the gas sold. This effort represents a significant milestone in tackling a key issue in the fight against climate change and underlines OGCI’s stance in working together to support the goals of the Paris Agreement.Achieving the agreed intensity target of 0.25% by the end of 2025 would reduce collective emissions by 350,000 tonnes of methane annually, compared to the baseline of 0.32% in 2017.

22 Aug 2018

Offshore Cape Three Points Begins Gas Delivery to Ghana

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.

20 Jul 2018

Ice-Breaking LNG Carrier Vladimir Rusanov First Call at PetroChina LNG Jiangsu Terminal

Mitsui O.S.K. Lines (MOL) announced that the Ice-Breaking LNG Carrier "Vladimir Rusanov", which is jointly owned by MOL and China COSCO Shipping Corporation Limited for the Yamal LNG project, made its first call at PetroChina LNG Jiangsu Terminal in China on 17 July.A ceremony celebrating this milestone was held on 19 July.At the end of March 2018, the vessel started transportation services for LNG produced by the Yamal LNG plant at Sabetta port in Russia. For its latest voyage, the vessel departed from Sabetta port on 25 June, and had its first opportunity to navigate independently eastwards along the Northern Sea Route without ice-breaker support.The vessel passed the Bering Strait on 6 July, and safely made its first call at PetroChina LNG Jiangsu Terminal in China on 17 July.

28 May 2018

Rosneft and GNPC Arrange LNG Supply to Ghana

Rosneft and the Ghana National Petroleum Corporation (GNPC) signed the package of documents assuming the delivery to the port of Tema (Ghana) over 12 years of the liquefied natural gas (LNG) in the volume of ca. 1.7 mmtpa (or 250 mln standard cubic feet per day), its regasification using the processing capacities of Tema terminal in order to subsequently supply the natural gas to GNPC. The obligations of the parties arising from the above documents will come into effect once they are approved by the Boards of Directors of the parties. Rosneft gas supplies will allow to satisfy a quarter of Ghana's energy demand, strengthen its energy security and reinforce the country's position as the key LNG hub in the region.

22 May 2018

FPSO at Jubilee Oil Field to Close for Fix

Photo: Tullow

The production vessel at Tullow's flagship Jubilee oilfield off Ghana's west coast will shut down next week for 21 days while it undergoes repairs, the country's power utilities said on Monday. The planned shutdown next Monday of the Kwame Nkrumah production vessel, which currently produces both oil and gas, will result in a cut to offshore gas supply, the companies said in a statement. They said any loss of power generation would be offset by generating additional power from the eastern port of Tema area. Tullow did not immediately respond to a request for comment.

18 May 2018

Ghana to Award New Oil Blocks off West Coast

FPSO Prof. John Evans Atta Mills (File photo: Tullow)

Ghana is set to award nine new upstream oil blocks for commercial exploration off its western coast beginning this year, the energy ministry said on Thursday.The West African country plans to award six of the nine blocks this year while the remaining three will be given out next year through a mix of open competitive tender and direct negotiations, the ministry said in a statement.It said state oil company Ghana National Petroleum Corporation will acquire one of the blocks to explore in partnership with a strategic partner to develop its technical capacity and become an operator.Ghana, which b

18 Sep 2017

Gazprom Signs LNG Supply Deal with Ghana

Russian gas giant Gazprom has signed a 12-year deal to supply Ghana National Petroleum Corporation (GNPC) with liquefied natural gas, a subsidiary of Gazprom Marketing & Trading Group said on Monday.   Gazprom Global LNG Limited (GGLNG) said LNG supplies were due to start in 2019.   The agreement is the first stage in a planned series of partnerships between GGLNG and GNPC, with both companies working to develop the infrastructure and services required to manage and market the projected gas flows from the region, Gazprom said.   It did not disclose further details. (Reporting by Vladimir Soldatkin; editing by Susan Thomas)

12 Nov 2017

CNPC, Cheniere Pact for LNG

China’s state-owned oil company, China National Petroleum Corporation (CNPC), and U.S. independent energy company Cheniere Energy have signed a Memorandum of Understanding (MoU) for long-term sales and purchases of liquefied natural gas (LNG), Reuters reported. The report quoted U.S. State Department saying that the deal between the two companies was signed during president Trump’s first state visit to China. Neither companies disclosed details of the transaction. According to CNPC, the agreement would strengthen its cooperation with Cheniere in regards to the latter’s liquefaction and export project in the Gulf of Mexico. Cheniere is owner and operator of the first LNG export terminal in the U.S., Sabine Pass in Louisiana.

13 Nov 2017

Port Corpus Christi to benefit from LNG partnership with China

 ©Trong Nguyen/Adobe Stock

Port Corpus Christi officials are confident that the agreement signed between Cheniere Energy of Houston and China National Petroleum Corporation (CNPC) will bring increased traffic to the port, according to the San Antonio Business Journal. Officials from Cheniere accompanies President Trump on his tour to China and signed a Memorandum of Understanding with the Chinese company. CNPC is the largest gas and oil supplier and producer in China and is also one of the largest providers of oilfied services.