Natural Gas Daily: June 24th, 2020
Rystad Sees Global Gas Output Down 2.6% in 2020
The impact of the Covid-19 pandemic on the world’s economies will push global natural gas production down 2.6% this year, Rystad Energy said, with associated gas production taking the biggest hit.
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The Big Picture:
- Associated production is projected to decline 5.5%.
- The forecast mirrors earlier projections by the Norwegian consultancy of falling global demand for gas and declining natural gas production in the US.
Russia, Hungary Near New Gas Deal
Hungary has agreed to take 4.2bn m3 of gas from Russia's Gazprom in the year starting October 2020, its foreign minister Peter Szijjarto told Hungarian state media. Earlier, Budapest also said earlier it would take 2bn m3 of gas from Gazprom for storage, and shipments are already underway.
The Big Picture:
- Russian gas supplies to Hungary were up by more than 40% last year.
Woodside Could Transform Oz NWS LNG: Woodmac
Woodside looks to be the party most interested in Chevron’s 16.7% stake in the North West Shelf (NWS) LNG project and this transaction could transform both the company and the NWS, Wood Mackenzie said in a note. Chevron announced its intention to sell the minority stake in Australia’s oldest LNG export project earlier this month.
The Big Picture:
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“Firstly, for Woodside a deal could see the development of its Scarborough upstream project flowing into the NWS. This option could be a more economical alternative when compared to constructing a new Pluto expansion train,” David Low, senior research analyst at WoodMac, said.
Chevron Australia has signed a domestic gas sales agreement with BHP Billiton Nickel West for the delivery of natural gas from the Chevron-operated Wheatstone facility, it said on June 23 in a statement.
The Big Picture:
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At full capacity, the Chevron-operated Gorgon and Wheatstone natural gas facilities will produce 500 terajoules/day of domestic gas for the Western Australia market, the company said.
Poland Awards Contracts for LNG Expansion
Polish gas grid operator Gaz-System and its partners have awarded zlotys 1.9bn ($482mn) in contracts for the expansion of Poland's sole LNG import terminal in Swinoujscie to Austria's Porr and China's TGE Gas Engineering, it said.
The Big Picture:
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The Swinoujscie terminal has the capacity to bring ashore up to 5bn m3/yr of gas, but its capacity is due to reach 8.3bn m3/yr by the end of 2023. Its expanded capacity has been booked up by gas import monopoly PGNiG.
Edge LNG Capitalises on US Wells: CEO
Small-scale gas liquefaction company Edge LNG is adding to its customer base, the latest counterpart being Exco – one of the bigger shale gas producers in the Marcellus in the northeastern US and Edge’s biggest win so far.
The Big Picture:
- The US small-scale producer is offering well operators an alternative outlet for stranded gas.
