Shell Australia Agrees to Sell Stake in Natural Gas Fields to Timor-Leste
Royal Dutch Shell's Shell Australia said Wednesday it entered into a sales agreement with Timor-Leste to sell the government a 26.56% interest in the Greater Sunrise fields for $300 million.The Greater Sunrise fields, comprised of the Sunrise and Troubadour gas and condensate fields, are located about 150 kilometers (93 miles) southeast of Timor-Leste and 450 kilometers (279 miles) northwest of Darwin in the Northern Territory, Shell said in a statement.Timor-Leste's Special…
Novatek to Open Third Line of Yamal Project in December
Russian natural gas producer Novatek plans to open the third line of its Yamal liquefied natural gas project in December, ahead of schedule, Chief Executive Leonid Mikhelson said on Tuesday.Novatek's Yamal terminal has been ramping up LNG shipments faster than expected after loading its first cargo in December 2017, with two trains now running at capacity.(Reporting by Oksana Kobzeva; Writing by Polina Ivanova; Editing by Louise Heavens)
Chevron exits Indonesia's Makassar Strait block
Chevron will exit the Makassar Strait gas block in the Indonesia Deepwater Development (IDD) offshore natural gas project to focus on more promising areas in the venture, Indonesian officials said on Wednesday.Indonesia's energy minister had issued a decree terminating Chevron's Makassar Strait production sharing contract (PSC) after it decided not to extend its operation of the block beyond 2020, upstream oil and gas regulator SKKMigas said."Chevron was not interested in requesting an extension," SKKMigas chairman Amien Sunaryadi told reporters.
Total, Novatek Pact for Arctic LNG 2 Project
In the presence of the President of the Russian Federation, Vladimir Putin, and the President of the French Republic, Emmanuel Macron, Total has signed an agreement with Novatek outlining the terms upon which Total shall acquire a direct working interest of 10% in Arctic LNG 2, a giant liquefied natural gas project lead by Novatek on the Gydan Peninsula in the north of Siberia. Taking account of Total’s approximate 19% stake in Novatek and Novatek’s intention to retain 60% of the project, the Group's overall economic interest in this new LNG project will be approximately 21.5%.
TechnipFMC Grabs BP FPSO Design Contract
UK-based TechnipFMC has been awarded a front-end engineering design (FEED) contract by BP for the floating production storage and offloading (FPSO) unit for the Tortue/Ahmeyim Field Development, a major LNG (liquefied natural gas) project located offshore on the maritime border of Mauritania and Senegal. The agreement between the two companies provides a mechanism to allow a transition of the contract to an Engineering, Procurement, Construction and Installation (EPCI) contract at a later stage.
Chevron Greenlights Gorgon LNG Expansion
Chevron Corp will proceed with the second stage of its giant Gorgon liquefied natural gas (LNG) export plant off the northwest coast of Western Australia, the company said on Saturday.Chevron and its joint venture partners plan to sink 11 new wells in the Gorgon and Jansz-Io fields and build offshore pipelines and subsea structures to pipe the gas to the nearby 15.6 million tonne a year LNG plant on Barrow Island.The $54 billion Gorgon project came on stream in March 2016 but suffered numerous unplanned shutdowns in its early stages.Chevron declined to put a cost on stage two of the project…
Philippines says China Will Halt Expansion in South China Sea
China has assured the Philippines it will not occupy new features or territory in the South China Sea, under a new "status quo" brokered by Manila as both sides try to strengthen their relations, the Philippine defence minister said. Philippine Foreign Secretary Alan Peter Cayetano also said the Philippines was working on a "commercial deal" with China to explore and exploit oil and gas resources in disputed areas of the South China Sea with an aim to begin drilling within a year. The defence minister, Delfin Lorenzana, told a congressional hearing the Philippines and China had reached a "modus vivendi", or a way to get along, in the South China Sea that prohibits new occupation of islands.
Total Seeking to Buy Stake in Iranian LNG Project
French oil giant Total held talks with Iranian officials about several projects in the country in 2016, notably a 10 million tonnes per year liquefied natural gas project (LNG), Reuters reported. It has signed an agreement with Iranian authorities for a 50 per cent stake in Iran’s South Pars gas field project which will developed at an investment of $4 billion. Sources told Reuters in February that Total was in talks to buy a multi-billion dollar stake in Iran's partly-built LNG export facility.
Scientists Slam BC LNG Proposal
International climate scientists are calling on the Canadian government to reject a proposed liquefied natural gas project by Petronas-backed Pacific NorthWest LNG in British Columbia, saying it would have dire environmental effects, according to a report in Canadian Press. Ninety academics from Canada, the United States, Australia and the United Kingdom released an open letter Monday saying the Pacific NorthWest LNG project would be one of the country’s largest greenhouse gas emitters, and if built, would undermine Canada’s climate change commitments.
China Equipments to Yamal LNG
The first shipment of a ‘core kit’ for Russia’s Yamal LNG project has set sail for northern Russia from the Chinese port of Qingdao. China's first batch of two air cooled condensing modules of LNG project are the biggest and heaviest kits being used for the project. They are set to arrive at the construction site in late June, says China Central Television. Yamal is a liquefied natural gas project located deep in the Russian Arctic. It is expected to start operating next year. 85 percent of the liquefied natural gas will be transported to the Asia Pacific market.
Chevron and ENN Sign Gorgon LNG Agreement
Chevron Corporation announced that its Australian subsidiaries have signed a non-binding Heads of Agreement (HoA) with ENN LNG Trading Company Limited (ENN) for the delivery of liquefied natural gas (LNG) to China from the Chevron-operated Gorgon natural gas project in Australia. When the deal is finalized, ENN is expected to receive up to 0.5 million metric tons per annum (MTPA) of LNG over 10 years, with deliveries starting in 2018 or the first half of 2019. “This is one more step in the development of our Australian gas business and our global LNG portfolio…
Yamal LNG Project on Track, Says Russia's Sberbank
Russia's Yamal LNG liquefied natural gas project is on track and will be profitable even with low oil and gas prices, Sberbank Chief Executive German Gref said on Tuesday. "This is the most expensive project, (it) will completely change the gas economy of the country," he told President Vladimir Putin. (Reporting by Denis Dyomkin; writing by Vladimir Soldatkin)
British Columbia Readies for LNG Industry
British Columbia Finance Minister Mike de Jong has tabled a bill designed to spell out the rules for a proposed $45-billion liquefied natural gas (LNG) industry, placing the Liberal government’s pro-LNG agenda on a collision course with the NDP. The bill provides the legal authority for government to enable a project agreement with Pacific NorthWest LNG. “This is an opportunity for the public, for legislators to analyze and discuss the documents and the legislation that will breathe life into a whole new industry and whole era of opportunity in B.C.,” he said. B.C.
NYK Orders Three LNG Carriers
Nippon Yusen Kabushiki Kaisha (NYK Line) has concluded time-charters for two new LNG carriers with Diamond Gas International, a Singapore affiliate of Mitsubishi Corporation. NYK also concluded a contract with MI LNG Company Limited for the construction of the LNG carriers, the company said in its press release. The ships will haul gas from the Cameron LNG (liquefied natural gas) project in Louisiana in the US to Asia, primarily Japan. These new ships will be delivered in 2018 and assigned to transport LNG for the Cameron LNG Project in the U.S.
Ecke is GM of DEA Egypt
The new General Manager for Egypt is Dr Hans-Hermann Ecke, who is responsible for the business of the Egyptian subsidiary of DEA Deutsche Erdoel AG based in Cairo since the beginning of March. “I am looking forward to the upcoming tasks in Egypt, where DEA has already been part of the oil and gas industry for more than 40 years,” says Dr Hans-Hermann Ecke. “With our Disouq natural gas project, we have recently been able to more than double our oil and gas production in Egypt. Dr Hans-Hermann Ecke has a PHD in geology.
China Snow Dragon Arctic
The melting Arctic presents a geopolitical challenge and it is the last bit of unclaimed land left on our quickly heating globe. A report in the Worldcrunch analyses why China is suddenly so interested in the Arctic. China is now becoming more involved primarily because of issues related to climate change, shipping and natural resources. China will also play an important role in exploiting the region's resources. Norway's Foreign Affairs Minister Borge Brende says China's growing…
ExxonMobil Earns $32.5 Bi in 2014
Exxon Mobil Corporation today announced estimated full-year 2014 earnings of $32.5 billion compared with $32.6 billion a year earlier, reflecting the strength of its integrated business model in a lower price environment. “ExxonMobil’s results illustrate the value of our proven business model that integrates upstream, downstream, and chemical businesses,” said Rex W. Tillerson, chairman and chief executive officer. ExxonMobil completed a record eight major Upstream projects during the year…
Sanctions Bite Russian Arctic Oil Shippers
Shipping services that support Russia's attempts to extract oil from remote parts of the Arctic will run into difficulties as banks scale back energy financing due to Western sanctions, increasing transport costs for the frontier sector. Sanctions imposed on Russia by the United States and European Union over Ukraine have targeted the delivery of oil technology, goods and services, aiming to make it impossible for Moscow to access new oil sources. The world's largest energy exporter, Russia relies on oil and gas exports for about half its federal budget.
KOTUG Assists LNG Vessels at Brunei Terminal
As from the start of October 2014, KOTUG is assisting all LNG vessels at the Brunei LNG Terminal with three powerful Rotortugs. Brunei Shell Petroleum Company awarded KOTUG as its exclusive towage provider with a 24/7 operation, supported by local management. Three 80-ton-plus bollard pull strong tugs of the Rotor concept are in charge for the berthing and unberthing operations of LNG tankers, standby services during loading, oil spill response and firefighting duties. The Rotortugs: RT Champion, RT Leader and RT Tasman were recently mobilized from Europe to Asia.
China Rejects Manila Protests, Laments Detentions
China rejected Philippine complaints on Wednesday about Chinese survey vessels operating in a gas-rich area of Manila's exclusive economic zone, and has lodged a separate complaint about the detention of Chinese workers, as tensions persist. Philippine President Benigno Aquino said over the weekend that two Chinese survey vessels had been sighted in part of the disputed South China Sea also claimed by the Philippines called Reed Bank. In a statement faxed to Reuters, China's Foreign Ministry said that Reed Bank was Chinese territory. "Survey activities being carried out by Chinese survey ships are appropriate, legal and beyond reproach," the ministry said. China claims almost the entire South China Sea, believed to be rich in deposits of oil and gas resources.
Chinese Survey Ships in Philippine Waters
Philippine President Benigno Aquino said two Chinese survey vessels had been sighted in a gas-rich area of its exclusive economic zone, raising concerns of heightened tensions in the disputed South China Sea. China claims almost the entire South China Sea, believed to be rich in deposits of oil and gas resources. Brunei, Malaysia, the Philippines, Taiwan and Vietnam also claim the sea where $5 trillion of ship-borne goods pass every year. "Recently, we got a report from the armed forces that there were two hydrographic ships in Recto Bank, about 80 nautical miles off Palawan, clearly within our exclusive economic zone," Aquino told a television interview aired on Sunday. Recto Bank is also known as Reed Bank. "What are they doing there? What kind of studies are they conducting?
The Versatile ATB Enters the LNG Game
EBDG’s LNG bunkering barge design receives ABS approvals as the maritime industry increasingly looks to LNG as a fuel of the future. In early June, Federal Maritime Commissioner William P. Doyle told listeners at an LNG Bunkering conference in Vancouver, Canada that “Liquefied Natural Gas (LNG) bunkering in North America is moving forward … There is an abundant supply of natural gas in North America. Utilizing natural gas as a marine fuel would help ship owners and operators comply with the MARPOL Annex VI requirements to reduce air pollution from ocean going vessels.” That much is true.
Passively-cooled Cabinets on World’s Largest Vessel
Enclosure specialist Intertec is supplying high performance environmental protection cabinets for Shell’s Prelude floating liquefied natural gas project. Designed specifically for extended service life in hazardous areas, the shelters incorporate innovative semi-passive cooling technology and are some of the most stringently specified instrumentation protection solutions that Intertec has ever produced. Shell’s Prelude floating liquefied natural gas (FLNG) project is setting new engineering records.