Natural Gas Daily: December 3rd, 2020
GAZPROM UPDATES ON POWER OF SIBERIA OPERATIONS
Russia has supplied 3.84bn m3 of gas to China via the Power of Siberia pipeline since it became operational a year ago, Gazprom said on December 2 in a statement.
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- Power of Siberia supplies have recovered, though, with Gazprom reporting that November was the second consecutive month in which deliveries exceeded the planned level, by 13.6%.
- The company said it was preparing tor ramp up gas exports further in 2021. Power of Siberia has been pumping gas from the Chayandinskoye gas field since December last year.
GAZPROM SHIPS GAS TO OMV UNDER NEW LONG-TERM DEAL
Russia's Gazprom announced on December 2 it had launched gas deliveries to the German market under a long-term supply deal with Austria's OMV.
- Germany is Europe's biggest gas market and the largest foreign market for Russian gas.
CHEVRON SETS 2021 BUDGET, REDUCES GUIDANCE
US major Chevron announced an organic capital and exploratory spending budget for 2021 of $14bn, in line with its 2020 expenditures. It said it would hold spending in the $14-$16bn/yr range through the 2022-2025 period, which is about 26% lower than earlier expectations.
- Total upstream spending for 2021 is estimated at $11.5bn, with $6.5bn of that allocated to currently producing assets, including $2bn for unconventional development in the Permian basin.
THAI PTTEP TARGETS $4.2BN SPEND IN 2021
Thai state-run PTT Exploration and Production Public Company (PTTEP) plans to spend $4.2bn next year on various projects worldwide, it said on December 2. Earlier this year, the company said it would reduce its 2020 capital expenditure by 15-20% from $4.61bn due to low oil prices.
- Despite Covid-19, emerging Asia remains a bright spot for LNG demand growth.
WOODSIDE PRE-EMPTS ANOTHER BID AT SENEGAL BLOCKS
Woodside Petroleum has used its pre-emptive right to make a bid for fellow Australian player Far's stake in the production-sharing agreement (PSA) Rufisque, Sangomar and Sangomar Deep (RSSD) blocks offshore Senegal, it said, blocking an offer from India's ONGC.
- ONGC launched its bid to buy Far's 13.7% interest in the Sangomar exploitation zone containing the Sangomar field and its 15% position in the surrounding RSSD contract zone in mid-November.
- The group took a final investment decision on the development in January.
TOUCHSTONE CONTINUES WINNING STREAK IN TRINIDAD
Touchstone has reported another positive well result at its flagship Ortoire exploration block onshore Trinidad and Tobago.
- Touchstone operates Ortoire with a 80% interest, while local state-owned partner Heritage Petroleum has 20%.
- It made its first gas discovery at the site in September last year after drilling the Coho-1 well, followed by a second at the Cascadura-1ST1 well in February this year and a third at the Chinook-1 well in October. Cascadura Deep-1 is the fourth of five wells Touchstone has committed to drill at Ortoire.