Marine Link
Thursday, March 28, 2024
SUBSCRIBE

Gas Resource News

25 May 2022

LNG Prices Could Stay High for a Few Years, Woodside CEO Says

Woodside CEO Meg O'Neill  - Credit: Woodside

Woodside Energy Group, Australia's top independent natural gas producer, sees liquefied natural gas (LNG) prices staying high for a few years as the market adjusts to supply disruptions after sanctions on Russia for its Ukraine invasion."With the invasion, we are seeing the world try to move away from Russian hydrocarbons and that means that demand for LNG from places like Australia is up," Woodside Chief Executive Meg O'Neill said."We do expect ... prices to remain elevated for the next year…

23 Aug 2021

Santos Selects Altera for Dorado FPSO FEED

Credit: Carnarvon Petroleum

Australian oil and gas company Santos has awarded the FEED contract for the FPSO for the Dorado project offshore W. Australia to Altera Infrastructure.Located in the Bedout Sub-basin, Dorado is an oil and gas project which is planned to be developed in two phases. The initial development involves the production of oil and condensate through a wellhead platform (WHP) and FPSO. Gas will be reinjected in the initial phase to enhance oil and condensate recovery, followed by a planned future phase of gas production to backfill Santos’ domestic gas infrastructure in WA.According to Santos…

03 Aug 2020

BP Charters Solstad Offshore Vessel Trio for Ironbark Drilling Support

BP has chartered Solstad Offshore's three offshore support vessels to support its Ironbark drilling campaign in Australia.Norway's based offshore vessel owner Solstad Offshore said Monday that BP had awarded contracts for two anchor handling tug and supply vessels Normand Saracen and Far Senator, along with the platform supply vessel  Normand Leader.The vessels will be working with Diamond Offshore's semi-submersible drilling rig ‘Ocean Apex’ throughout the one well campaign, estimated at approximately 90 days duration.

29 Jun 2020

Transborders Energy, SBM Offshore in FLNG Pact

Image Credit: Transborders Energy

Australia's Transborders Energy, a company working to develop an FLNG solution for marginal field development, has signed a partnership agreement with the floating production solutions giant SBM Offshore.Perth-based Transborders said Sunday that the two companies would co-pursue the deployment of Transborders’ FLNG Solution on a range of stranded offshore gas resource opportunities.Transborders has said that its FLNG Solution provides a pre-engineered one point five (1.5) million…

24 Nov 2019

U.S. Needs to Revive Shallow-Water GoM E&P

The US should define the Gulf of Mexico Shallow Water Province as a distinct entity to avoid stranding more than $20 billion of its oil and gas resource, said a new research.According to a research from the Bureau of Safety and Environmental Enforcement (BSEE) and Bureau of Ocean Energy Management (BOEM) the GOM Shallow Water Province, comprised of water less than 200 meters deep, is a historically energy-rich area which now produces natural gas, accounting for 33% of the gulf’s gas production and just over 10% of its oil production.Production and infrastructure investment used to be substantially higher in the Shallow Water Province…

07 Oct 2019

Transborders Signs up MOL on FLNG Solution

Perth-based company Transborders Energy has entered a Joint Study Agreement (JSA) to work with Japan's Mitsui OSK Lines (MOL) to together continue the development of its Floating LNG (FLNG) Solution and to pursue its deployment on a range of stranded offshore gas resource opportunities.Transborders’ FLNG Solution provides a pre-determined 1.3 MTPA FLNG development concept with a package of streamlined commercial & regulatory approval framework (including LNG buyers) to gas resource owners. Transborders’ Chairman Jack Sato says, “We are very pleased to welcome MOL as a strategic partner to our FLNG Solution. In addition to Kyushu Electric Power Company in Japan…

17 Jun 2019

Japanese, Australian Firms Join for FLNG Project

Australia's Transborders Energy  announce it has entered into a Joint Study Agreement with Japanese utility  Kyushu Electric Power Co., Inc. and its affiliate Kyushu Electric Australia Pty Ltd (Kyushu). The Joint Study Parties will work together to develop a Floating LNG (FLNG) Solution and pursue the deployment on a range of stranded offshore gas resource opportunities.Transborders’ FLNG Solution is a pre-determined FLNG and wells tie-back development concept with a package of streamlined commercial and regulatory approval frameworks.Transborders’ Chairman Jack Sato says, “Transborders’ goal is to unlock stranded gas resources, develop a new LNG supply source, and offer alternative LNG solutions.

11 Jun 2019

Prelude FLNG Ships First LNG Cargo

The Prelude FLNG facility, with the Valencia Knutsen berthed side-by-side (Photo: Shell)

The first shipment of liquefied natural gas (LNG) has sailed from Shell’s Prelude floating LNG (FLNG) facility offshore Australia, Shell announced Tuesday alongside its joint venture partners INPEX, KOGAS and OPIC.This shipment from the world’s largest floating producer of LNG, located 475 kilometers northeast of Broome in Western Australia, will be delivered by the LNG carrier Valencia Knutsen to customers in Asia, more than eight years after financial investment decision (FID) and nearly two years after the facility arrived in Australia."How fast Prelude delivers its second and third cargo…

12 Apr 2019

Chevron Buys Anadarko for $50Bln

Chevron, the second-largest US oil and gas company, has agreed a $50bn deal to buy Anadarko Petroleum (APC)  in a massive deal that will bolster its natural gas and shale operations.The cash and stock deal announced Friday values Anadarko at $65 per share, 39% higher than the oil company's closing stock price on Thursday. Based on Chevron’s closing price on April 11, 2019 and under the terms of the agreement, Anadarko shareholders will receive 0.3869 shares of Chevron and $16.25 in cash for each Anadarko share. The total enterprise value of the transaction is $50 billion.The acquisition of Anadarko will significantly enhance Chevron’s already advantaged Upstream portfolio and further strengthen its leading positions in large, attractive shale, deepwater and natural gas resource basins.

11 Jan 2019

US to Become Third Largest LNG Exporter in 2019

The coming year is expected to make the U.S. the third largest exporter of liquefied natural gas (LNG) in the world, creating jobs stateside while reducing emissions and providing reliable energy to countries around the world, said American Petroleum Institute (API).API, Center for LNG, and LNG Allies, the three national trade associations specializing in U.S. LNG, today issued a first-of-its-kind joint statement on the extraordinary developments expected in U.S. LNG in 2019.Todd Snitchler, Vice President of Market Development at the American Petroleum Institute, said: “The dramatic expansion of U.S. LNG exports since 2016 continues to deliver tremendous benefits across America and around the world.

31 May 2018

Petronas Buys Stake in Canadian LNG Export Project

(File photo courtesy of Shell)

Malaysia's state-owned oil and gas company Petroliam Nasional Bhd said on Thursday it is buying a 25 percent stake in a Canadian liquefied natural gas (LNG) export project, nearly a year after cancelling its own planned terminal.The company, known as Petronas, scrapped plans to build a $36 billion ($28 billion) LNG export terminal in British Columbia last year over concerns of a glut in the market that led to depressed fuel prices.But surprisingly strong demand from China, South Korea and India has erased those concerns…

05 Jan 2016

Huisman Cuts First Steel on COOEC’s 325mt VLS

Photo: Huisman

On Monday, December 21, Huisman, the worldwide specialist in lifting, drilling and subsea solutions, held a steel cutting ceremony together with COOEC, a subsidiary of CNOOC, for their new pipelay system at the Huisman facility in China. It is a 325mt Vertical Lay System for flexible pipe. It will be the first Vertical Lay System ever operated and owned by a Chinese company. The tower will be installed on board of the offshore construction vessel HYSY286, and together with the earlier supplied 400mt deep water mast crane of Huisman…

15 Apr 2015

US Could Eliminate Energy Imports -EIA

Figure 1 (Source: EIA)

EIA's AEO2015 projects that U.S. The Annual Energy Outlook 2015 (AEO2015) released today by the U.S. Energy Information Administration (EIA) presents updated projections for U.S. energy markets through 2040 based on six cases (Reference, Low and High Economic Growth, Low and High Oil Price, and High Oil and Gas Resource) that reflect updated scenarios for future crude oil prices. "EIA's AEO2015 shows that the advanced technologies are reshaping the U.S. energy economy," said EIA Administrator Adam Sieminski.

21 Jan 2015

Change in CEO at Golar LNG

Golar LNG Limited today announced that Doug Arnell has decided to step down as CEO of Golar on February 1, 2015. Mr. Arnell's decision is driven by a personal wish to return with his family to his home country of Canada. Mr. Arnell will be succeeded by Gary Smith, who is well known to Golar and who brings with him a track record of leadership and operational management success in the mid-stream oil and gas, shipping and LNG businesses. Mr. Smith's career spans 35 years, including 25 years with Shell and Caltex Australia (a Chevron affiliate) in roles including General Manager LNG Shipping for Shell (STASCO) and General Manager Refining, Supply and Distribution for Caltex Australia.

28 Jul 2014

BOEM to Gather Data on Potential Oil & Gas Areas

As part of its commitment to a regionally tailored approach to safe and responsible domestic energy production, the Bureau of Ocean Energy Management (BOEM) today issued a Call for Information and Nominations for potential Oil and Gas Lease Sale 242, proposed for the Beaufort Sea Planning Area off Alaska in 2017. The 45-day Call seeks to gather information about specific areas within the Beaufort Sea Planning Area that have the most promising oil and gas resource potential, while also increasing the agency’s understanding about environmentally sensitive habitats and important social and cultural uses – including vital Alaska Native subsistence activities – that also exist within the area.

09 Jun 2014

Natural Gas as Bridge Fuel

Following a recent UN report on climate change mitigation, which laid out a raft of potential changes to the global energy system, headline writers concentrated on the massive shift to renewable energy outlined in the report. Douglas Westwood points out, however, there was also a notable shift in tone on natural gas. The UN report expressly talks about the potential for clean-burning natural gas to be used as a “bridge fuel”, buying the world precious time to make the difficult shift to even cleaner forms of energy.

03 Mar 2014

LNG Foes go to the Mat in Maryland

Maps of Indian and Japanese ports paper the walls of a Dominion Resources Inc conference room in a small Maryland town, population 1,835, known more for crabbing and bird watching than global trade and the U.S. natural gas revolution. Dominion, an American energy company long focused on U.S. markets, hopes to begin an expansion worth billions of dollars at its Cove Point complex on Chesapeake Bay later this year. As part of the plan, compressors fired by a new power plant would cool gas to -260 degrees F (-162 C) until it becomes the hot global commodity known as liquefied natural gas, or LNG. But if environmentalists, including a group that has led the charge against TransCanada Corp's long-delayed Keystone XL oil pipeline, get their way, Dominion won't soon be shipping anything anywhere.

16 Jan 2014

Ziff Issues North American Gas Report

Ziff Energy, a Division of HSB Solomon Associates LLC, released a report titled “North American Ultimate Potential Gas Resource.” The report presents the ultimate resource potential for Appalachia, the Gulf Region, the Mid-Continent/Permian basin, the Pacific, Alaska and Canada. It features a breakdown on the remaining resource of undiscovered conventional gas, tight gas, shale gas and coalbed methane. The report also includes details of Ziff Energy’s methodology for resource estimation of selected plays. “Ziff Energy has created preliminary estimates of the technically recoverable ultimate potential of Montney, Horn River, Liard, and Duvernay plays,” said Simon Mauger, P.Geol., Director, Gas Supply and Economics, and report author.

04 Dec 2013

BOEM Proposes Eastern Gulf of Mexico Lease Sale

As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, the Bureau of Ocean Energy Management (BOEM) today announced that it will hold Gulf of Mexico Eastern Planning Area oil and gas lease sale 225 in New Orleans on March 19, 2014, immediately following the proposed Central Planning Area (CPA) Sale 231. Proposed Sale 225 is the first lease sale proposed for the Eastern Planning Area under the 2012 – 2017 Outer Continental Shelf Oil and Natural Gas Leasing Program, and the first sale offering acreage in that area since Sale 224, held in March of 2008. “This proposed sale is another important step to promote responsible domestic energy production through the safe…

18 Jul 2013

Powering Ahead Cleanly

Thomas S. Knudsen, SVP, Head of Marine Low Speed and CEO of Denmark, MAN Diesel & Turbo

MAN Diesel & Turbo’s Thomas S. When TOTE Inc. ordered the world’s first LNG-powered containerships (which were honored last month in Oslo, winning the DNV-sponsored “Next Generation Ship Award”), industry excitement was palpable. For MAN Diesel & Turbo it served as a definitive launch point for its ME-GI Dual Fuel engine, which was soon followed with an order from Teekay LNG Partners to power a pair of LNG Carriers. MR had the opportunity to sit with Thomas S. Knudsen, SVP, Head of Marine Low Speed and CEO of Denmark…

21 Feb 2013

PetroChina Takes Stake in Australian Offshore Exploration

PetroChina Company signs agreements with ConocoPhillips to take interests in W. Australian exploration assets & a JSA in China. Under these agreements, PetroChina will acquire 20% interest in the Poseidon offshore discovery in the Browse Basin, and 29% interest in the Goldwyer Shale onshore Canning Basin. In addition, PetroChina and ConocoPhillips will enter into a Joint Study Agreement (JSA) to study unconventional gas resource in the Neijiang-Dazu Block in China’s Sichuan Basin. The agreements still require government and partner approvals. The signing of these agreements marks a significant step toward increased global collaboration between PetroChina and ConocoPhillips.

14 Feb 2013

Oil Majors Expand Far North Exploration Projects

Rosneft and ExxonMobil agree to collaborate in the search for offshore energy in the Russian Arctic & Far East,  and Alaska. The two companies have agreed to expand their cooperation under their 2011 Strategic Cooperation Agreement to include an additional approximately 600,000 square kilometers (150 million acres) of exploration acreage in the Russian Arctic and potential participation by Rosneft (or its affiliate) in the Point Thomson project in Alaska. They have also agreed to conduct a joint study on a potential LNG project in the Russian Far East. The agreements, which include plans to explore seven new blocks in the Chukchi Sea…

15 Mar 2011

New Report on Norwegian Energy Policy

Norway  is  pursuing  ambitious,  forward-thinking  energy  policies,  but  could  go  further  in  its efforts to become a low-carbon economy, the International Energy Agency (IEA) has concluded in a review published today. Energy Policies  of  IEA Countries  - Norway  2011 Review  says  that  it will  be  challenging  for Norway  to meet  its 2020  target of  reducing greenhouse gas emissions by 30% compared with 1990  levels,  because  both  the  country’s  electricity  supply  and  its  energy  use  in  buildings  are already essentially carbon-free due to hydropower use.