Natural Gas Development News

Offshore seismic survey specialist Shearwater on Friday announced a new project with the Austrian oil firm OMV for a "pioneering" towed streamer survey with Ocean Bottom Nodes over the Berling gas and condensate discovery in the Norwegian Sea. Spanning 1040 sq.km, this hybrid survey starts in July 2023 and will last for three months. Shearwater's vessels, SW Tasman and Oceanic Vega, will lead the operations. SW Tasman will operate as an ROV node deployment vessel for first time…

Subsea services company DOF Subsea said Friday it had won multiple contracts in the U.S. Gulf of Mexico. The company has received a contract award for the provision of services to "a major operator" in the Gulf of Mexico, starting in the fourth quarter of 2022.

Belgian shipowner Exmar said on Friday it had signed a 10-year charter deal for the liquefied natural gas (LNG) vessel Excalibur with Eni as the Belgian shipowner closes the sale of its Tango LNG barge to the Italian energy group.The squeeze on oil and gas imports from Russia, following what Moscow calls "a special military operation" in Ukraine, has left Western powers scrambling to plug the energy gap, pushing them to expand LNG capacity.Exmar, which had been struggling to find a user to charter one of its giant LNG ships, said in August it had agreed to sell its Tango LNG floating liquefaction facility to Italy's Eni for 572 million to 694 million dollars.The group said in an earnings report that it had recently signed an agreement to acquire 100% of Excalibur…

Italian oil major Eni announced it has signed a deal to to buy the Tango FLNG floating liquefaction plant from Belgium-based Exmar for use in the Republic of Congo. Under the agreement, Eni will acquire Exmar's company Export LNG Ltd, which owns the Tango FLNG.Tango FLNG, delivered in 2017, has a storage capacity of 16,100 cubic meters of liquefied natural gas (LNG) and a liquefaction capacity of up to 0.6 million tons per year.The value of the transaction is in a range of $572 and $694 million, depending on the unit's performance during the first six months on site, Exmar said.

ADNOC Logistics & Services (ADNOC L&S), a wholly-owned subsidiary of UAE's ADNOC, has signed an agreement with Japan's Inpex Corp to collaborate on LNG bunkering activities.Under the agreement, ADNOC L&S and Inpex will explore opportunities for LNG bunkering in the UAE as well as the potential to jointly expand LNG bunkering activities to cover other regions, including Southeast Asia, said a press release from the Abu Dhabi-based integrated shipping and logistics company.The use of LNG as a fuel on non-LNG carriers is expected to grow significantly as ship owners seek new compliance solutions to meet the 2020 IMO’s global sulfur cap.

Pieridae Energy announced that its proposed financing of upstream activities within the Goldboro LNG project has received a written confirmation of eligibility in principle for up to US $1.5 billion of untied loan guarantee by the German federal government under its UFK program (Bundesgarantien für ungebundene Finanzkredite).According to the press release, this confirmation not only satisfies a critical condition leading to the completion of Pieridae’s acquisition of Ikkuma as contemplated by the arrangement agreement entered into between the Company and Ikkuma on August 23, 2018, but also marks an important milestone in advancing the…

For the past few years, depressed commodity prices, stricter regulatory requirements and competition from onshore development at home and from other countries offering attractive offshore lease and royalty terms have had severe impacts on new exploration in the U.S. Gulf of Mexico. Thankfully, the tide appears to finally be turning.In August, Gulf of Mexico Lease Sale 251 drew increased competition for offerings and $178 million in high bids, $53 million more than previous sale held in March.

After a few years of relative calm, the 2017 hurricane season wreaked havoc in the Atlantic and the Gulf of Mexico, causing widespread damage and human suffering, and exposing the vulnerabilities and strengths of American energy security. As the flood waters from Hurricane Harvey receded and Gulf coast residents embarked on the arduous road to recovery, the offshore energy industry took stock and counted its losses and blessings. Offshore energy facilities faired remarkably well compared to onshore energy facilities, many of which suffered catastrophic damage from flood waters.

NOIA President Randall Luthi today released the following statement on the election of Donald Trump as the next U.S. “On behalf of the National Ocean Industries Association (NOIA), I congratulate President-elect Trump on his victory at the polls. The American people have spoken, and this long and contentious election is finally over. Even though it appears the political divide in our Nation has widened, now is the time to work together to promote wise energy policies that will enhance our ability to create jobs and promote energy security. “President-elect Trump should unequivocally reestablish the U.S. commitment to ‘all-of-the-above’ energy policies.

Primeline Energy Holdings Inc. announces that it has sent a letter to China National Offshore Oil Corporation (CNOOC) and CNOOC China Limited (CCL) (together CNOOC Group) giving formal notice of its intention to commence arbitration proceedings against CNOOC Group under the provisions of the Petroleum Contract for Block 25/34. The CNOOC Arbitration relates to Primeline’s continuing disputes with CNOOC Group with regard to the development, production and sales of gas from the LS36-1 Gas Field (LS36-1). Primeline has appointed an arbitrator and will file the formal Notice of Arbitration in accordance with the UNCITRAL Arbitration Rules 1976 and the arbitration agreement under the Petroleum Contract for Block 25/34.

NOIA President Randall Luthi issued the following statement on the Senate Energy and Natural Resources Committee’s passage of the OPENS Act, which will open new areas of the OCS to energy exploration and development, extend revenue sharing to participating coastal states, and lift the outdated ban on U.S. “The National Ocean Industries Association applauds the Senate Energy and Natural Resources Committee for passing the OPENS Act, which will strengthen America’s energy and national security, improve our national economy, and benefit consumers across the country. Over 85 percent of our federal offshore acreage is off limits to oil and natural gas development.

B.C. Premier Christy Clark has announced an agreement in principle with Pacific NorthWest LNG, owned in majority by Malaysia's Petronas, for a liquefied natural gas development on the province's northwest coast. Hailed as “the largest capital investment in B.C. history,” Clark said the LNG framework will result in stable, long-term revenue for B.C. and $36 billion in investment, including a proposal for an LNG facility near Prince Rupert. Both are intended to provide certainty to the Petronas-led Pacific Northwest LNG project and encourage them to make a final investment decision to build a project in British Columbia. Although there are 19 proposed LNG projects in B.C.…

The BOEM's (Bureau of Ocean Energy Management) decision to conditionally allow Shell to proceed with the carefully planned and coordinated drilling effort in Alaska is good news. The potential for energy development in the Chukchi Sea would allow Alaskans to benefit from well-paying jobs and resources to safeguard the environment, protect native traditional activities, and improve communities. The Trans-Alaska Pipeline may also benefit from the flow of resulting production. For the rest of the U.S. and the world, successful oil and natural gas development in the area will help to meet the ever increasing demand for reliable, reasonably priced energy.

The National Ocean Industries Association (NOIA) Board of Directors has elected Cindy B. Taylor as Chair and Kevin McEvoy as Vice Chairman for the upcoming 2015-2016 term. Taylor and McEvoy assumed their positions at the NOIA Annual Meeting today in Washington, DC. Since 2007, Cindy has served as President and Chief Executive Officer of Oil States International, Inc., a publicly traded diversified oilfield services company headquartered in Houston. She also serves on the company’s board of directors, and has been NOIA’s Vice Chair for the 2014 -2015 term. “The oil and natural gas industry is tough and resilient. Since I first joined NOIA…

While short-term news emanating from the global energy sector was universally negative in the waning months of 2014 as the price per barrel continued to plummet below $60, the inevitable truth of oil & gas is that prices will rise again, and the long-term picture for this extinguishable natural resource is decidedly bullish. The oil and gas industry is very well accustomed to hard cyclical markets, markets that are defined not only by supply and demand but increasingly by hard-to-predict forces of politics and international gamesmanship.

The U.S. commercial maritime industry is enjoying its most robust period in a generation, with a spate of newbuild activities spurred largely by a resurgent energy production market in the U.S. as well as new rules of vessel emissions which has forced owner to invest in new tonnage. For insight and perspective on the market Maritime Reporter & Engineering News visits with Matthew Paxton, who was selected to be the President of the Shipbuilders Council of America in 2007. In this capacity he advocates for a robust and expanding U.S. shipyard industrial base.

A new year brings resolutions and renewed optimism for better times, and sometimes a wish for things to at least not get any worse. For the offshore energy industry, 2013 brings a combination of all. The economy is showing signs of life and exploration and production are making a comeback in the Gulf of Mexico. After much upheaval and turmoil, the Bureau of Safety and Environmental Enforcement (BSEE) and the Bureau of Ocean Energy Management (BOEM) are filling their ranks and an era of more predictability and consistency appears to be on the horizon. Energy companies have a better idea of what is expected of them in the various permit application processes and the Federal agencies are reducing the time it takes to review and either approve or disapprove of the various permits.

Announcing its “All-of-the-Above” energy strategy today, the Obama Administration rightfully celebrates the United States’ new position as the largest global producer of energy but fails to acknowledge Federal actions that could bring even more resources to market., National Ocean Industries Association (NOIA) said today in a press announcement. “NOIA shares the President’s conviction that domestic energy production, whether from wind, oil or natural gas, produce tremendous benefits for the nation.

During the testimony today at a Senate Energy and Natural Resources Committee hearing on offshore energy revenue sharing, National Ocean Industries Association (NOIA) president Randall Luthi urged Congress to take the next step in enhancing America’s energy security, energy reliability and American jobs by increasing access to the Outer Continental Shelf (OCS) for energy exploration and development. “Only by providing additional oil and natural gas lease sales in more of the OCS can this theoretical revenue sharing become reality. The two policies are inextricably linked – revenue sharing and access,” Luthi testified. The hearing focused specifically on the Fixing America’s Inequities with Revenues Act (FAIR Act).

Clarkson PLC ("Clarksons") the shipping services group, is pleased to announce the appointment of Peter Backhouse as Non-Executive Director to the board with immediate effect. Peter has 40 years of experience in the international energy business. He is a former executive vice-president of global refining & marketing at BP plc; chief executive of European refining and marketing; and head of UK North Sea oil development. He also has considerable experience in international LNG and natural gas development. Peter is a Non-Executive Director at BG Group plc and is a member of the advisory Board of Riverstone Energy Partners, a private equity fund in the US. Philip Green, Chairman, commented: "On behalf of the board, I would like to welcome Peter to Clarksons.

National Ocean Policy, Coastal & Marine Spatial Planning: two of the biggest issues you never heard of. It’s also far more complicated than you might think. This summer, the Obama Administration released the innocuously named “Guide to Regional Marine Planning,” and across town, the House of Representatives passed the latest in a string of resolutions restricting the Administration from spending money on the implementation of the National Ocean Policy. The battle continues over an issue which could well redefine the future of offshore energy development…

British Columbia’s first liquefied natural gas (LNG) proposal at Grassy Point near Prince Rupert has filed its export application with Canada's National Energy Board (NEB). "Aurora LNG is moving forward with their plans to export B.C.'s natural gas to new markets overseas," said Premier Christy Clark. "This marks another step towards realizing the transformative opportunity LNG presents us. "Filing an application for an export license is an important step," said Kevin Reinhart, CEO of Nexen. "However, we still have a lengthy process ahead of us before final investment decisions are made. Aurora LNG has filed its export application just over two weeks after signing a sole proponent agreement with the Province of British Columbia.

Two new studies released today by the National Ocean Industries Association (NOIA) and the American Petroleum Institute (API) show significant potential added energy and economic benefits to the United States if the Eastern Gulf of Mexico and the Pacific outer continental shelf (OCS) were opened to offshore oil and natural gas development. Both studies were conducted by Quest Offshore Inc., which also conducted a study of the Atlantic OCS, which NOIA and API released last year. “The U.S.