Natural Gas Daily: June 16th, 2020
UK Offshore Sets Decarbonisation Timeline (Update)
UK's offshore oil and gas industry has committed to halving its greenhouse gas (GHG) emissions by 2030, confirming its pathway to becoming a net zero emissions basin by 2050 in a report published by Oil & Gas UK (OGUK). This makes it one of the first industry sectors to do set out a timetable, it said at a media briefing the day before publication.
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The Big Picture:
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The major building blocks that such an ambitious goal needs – such as a workable commercial framework to attract investors to carbon capture, use and storage projects, and a framework for offshore floating wind to generate power for hubs – remain on the government's to-do list.
Qatari Firm Books Big at Croatian LNG Terminal
All available capacity at Croatia's planned LNG import facility at Krk Island has been booked in the 2021-22 2022-23 gas years, after Qatar-based Power Globe subscribed for 15 years of capacity.
The Big Picture:
- Earlier this month Hungary's MFGK booked seven years of capacity while trading group MET reserved three years of capacity.
Gazprom to Settle $1.5bn Award to PGNiG by July 1
Russia's Gazprom has agreed to pay Polish state gas importer PGNiG $1.5bn by July 1 in compensation for previously overpriced gas supplies, PGNiG said on June 15, drawing a line under a five-year legal dispute.
The Big Picture:
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Gazprom was ordered by a Swedish arbitration court in March to refund PGNiG's overpayments for gas supplies since November 2014 and also to amend the pricing formula in the pair's long-term supply agreement, known as the Yamal contract.
Wintershall Dea, Gazprom Add Well at Dutch Field
Russia's Gazprom and Germany's Wintershall Dea have brought on stream a second well at the Sillimanite gas field straddling the border between the Dutch and UK North Sea, they said.
The Big Picture:
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The Sillimanite field, some 200 km from Den Helder, started production at its first well in February. Drilling began on a second well at the start of that month.
Myanmar's 1st Gas-Fired Power Plant Comes Online
Myanmar’s first gas-fired power plant came online on June 14, Hong Kong-listed VPower Group said in a statement. The plant is operated by CNTIC VPower – an equal joint venture between China National Technical Import Export Corp. (CNTIC) and VPower Group.
The Big Picture:
- Earlier this month, Malaysian state-run Petronas said it has begun deliveries of LNG to Myanmar, with two cargoes delivered in May and June 2020.
Oz Santos Signs New Domestic Gas Deal
Australian oil and gas explorer Santos has entered into a new gas supply agreement with Gold Fields for its three gold mines in Western Australia. The company will supply nearly 5.5 petajoules (5.2bn ft3) of natural gas from its Varanus Island gas plant over three years, starting on July 1, 2020.
The Big Picture:
- “Santos supplies around 40% of the state’s total domestic demand, and we are committed to ongoing investment in developing new gas supplies in Western Australia,” Santos CEO Kevin Gallagher said.
