Natural Gas Daily: December 17th, 2020

SINOPEC’S TIANJIN LNG TERMINAL SETS RECORD

Sinopec’s Tianjin LNG terminal near Beijing has received a record 7.25mn metric tons of LNG in the year up to December 15, the company said on December 16.

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• Since its commissioning in February 2018, the terminal has received and unloaded 251 LNG vessels or 16.65mn metric tons of LNG. 

EXXONMOBIL, VOPAK MULL SOUTH AFRICAN LNG TERMINAL

ExxonMobil and the Netherlands' Royal Vopak have signed a memorandum of understanding on potentially building a LNG regasification terminal in South Africa, Vopak said on December 15.

• Domestic gas supply is dwindling, and authorities have warned this could mean that the Mossay Bay gas-to-liquids (GTL) plant controlled by state-owned Sasol might have to close.

• The government is counting on the development of recent offshore discoveries by France's Total to help bolster production.

TOTAL WEIGHS UP ELGIN-FRANKLIN EXTENSION

France's Total is considering a potential life extension at its Elgin-Franklin gas and condensate project in the North Sea, its licence partner Chrysaor said.

• The plan to potentially extend the Elgin-Franklin's life comes after Total made the Isabella gas and condensate discovery in March some 40 km south of the field.

• Like Elgin-Franklin, Isabella is understood to be a high-pressure, high-temperature field.

ENERGEAN SEALS EDISON DEAL

Mediterranean-focused Energean has closed the purchase of the upstream arm of Italy's Edison, it reported, nearly a year and a half after signing the deal.

• Energean was originally due to pay $750mn for Edison E&P, which has operations in Algeria, Croatia, Egypt, Italy, Norway and the UK. But the deal underwent several revisions after the collapse in oil prices earlier this year.

• First, Edison's assets in Algeria were excluded from the sale after difficulties getting consents from local authorities. Energean and Edison later lowered the deal's price tag to just $284mn, while also excluding the latter's Norwegian business.

  
  

EQUINOR DISHES OUT NORTHERN LIGHTS CONTRACTS

Norway's Equinor has awarded two key contracts worth kroner 1.3bn ($150mn) for the Northern Lights CO2 transport and storage project in the North Sea, the company reported, just days after Norway's parliament approved initial funding for the initiative.

• Northern Lights serves as the transport and storage part of Longship, a kroner 25.1bn plan to store initially 1.5mn metric tons/year and eventually up to 5mn mt/yr of CO2 emitted from industries in Norway and other European countries.

LINDE, SIPCHEM TO DEVELOP SAUDI GASES

Germany's Linde and Saudi International Petroleum Co (Sipchem) have signed an exclusive agreement to form a partnership to develop industrial gas projects and networks in Saudi Arabia, the latter said on December 15.

• The joint venture could unlock as much as $500mn in investment opportunities over the next five years, depending on projects' economic viability, the company added.