Natural Gas Daily: May 15th, 2020
Partners Take FID in Norwegian Offshore CCS Project
The three partners in Norway's Northern Lights carbon capture and storage (CCS) project have taken a final investment decision, they said. Still needed for the $660mn project are approvals from the Norwegian government and the European Free Trade Association Surveillance Authority.
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The Big Picture:
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The Northern Lights project, which groups Norwegian state Equinor and the European majors Shell and Total, could become the first step to develop a value chain for CCS, "which is vital to reach the global climate goals of the Paris Agreement," Equinor said.
Poland Claims NS2 Regulatory Victory
Polish state oil and gas company PGNiG claimed another victory over Gazprom as the German energy market regulator – Bundesnetzagentur – denied the 55bn m³/yr Nord Stream 2 gas pipeline exemptions from European Union energy law.
The Big Picture:
- "Like the Polish government, we are still of the opinion that the Nord Stream 2 project carries negative consequences for security of supply and competition on the gas market in central and eastern Europe," PGNiG CEO Jerzy Kwiecinski said.
Regulator Blocks Shell Licence Transfer to Pieridae
The Alberta Energy Regulator (AER), in a May 13 decision, has blocked the transfer of licences associated with Shell Canada’s sale of its Foothills natural gas assets in Alberta to LNG developer Pieridae Energy.
The Big Picture:
- Pieridae Energy closed the C$190mn (US$145mn) acquisition, which gives it access to enough natural gas to supply both trains at its proposed 10mn mt/yr Goldboro LNG project in Nova Scotia, in October 2019.
Rosneft Swings to Loss on Market Collapse
Russia's biggest oil producer Rosneft has swung to a net loss in the first quarter, it said, as a result of weaker demand and a collapse in prices in March.
The Big Picture:
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Rosneft also blamed its weaker numbers on ruble depreciation, which inflated the value of its foreign-denominated debt. The ruble devalued sharply in March with the collapse in oil prices.
New Oz Bill to Promote Hydrogen Industry: Minister
New legislation passed through parliament this week will help lay the foundation of a new hydrogen industry in Australia, minister for resources, water and Northern Australia Keith Pitt said in a statement.
The Big Picture:
- Australia is in an ideal position to become one of the world’s largest hydrogen exporters.
Coal India Showcases CBM Projects: Press
Three private companies - Adani, Essar and Reliance Industries - have participated in a pre-bid meeting related to the development of state-run Coal India’s coalbed methane (CBM) projects, according to a May 14 report by the Economic Times. It plans to invite bids for two projects, one at Jharia in the state of Jharkhand and Raniganj in the state of West Bengal this week.
The Big Picture:
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Earlier this week, the Central Mine Planning & Design Institute, the exploration and consultancy arm CIL, was appointed as the principal implementing agency for the development of CBM in CIL’s leasehold areas.
