Natural Gas Daily: May 22nd, 2020
German Gas Imports Soar in March
German gas imports were up 23.3% year on year in March, arriving at 580,899 TJ, according to preliminary data published by trade statistics office Bafa.
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The Big Picture:
- Cheap gas has incentivised traders to stock up supplies, and led to gas displacing coal in the power sector.
- In early May, German grid operators launched a public consultation on an investment plan worth €8.5bn to prepare the country for rising gas imports. LNG will play a part as at least two terminals are planned with some degree of support from Berlin.
Sechin Gets 5 More Years as Rosneft CEO
The board of directors at Russia's Rosneft has given Igor Sechin another five-year term as the oil company's CEO, effecting from May 24 2020, Rosneft said in a statement.
The Big Picture:
- Sechin, a close Putin ally, has been at the company's helm since 2012. Rosneft reported its first quarterly loss since 2012 for the three months ending March 31, against the backdrop of a collapse in oil prices and a slump in demand due to the coronavirus (Covid-19) pandemic.
Oz Cooper, APA Restart Orbost Commissioning Work
Sydney-listed Cooper Energy said gas infrastructure company APA Group has resumed commissioning of Orbost gas processing plant following a shutdown which was announced earlier this month.
The Big Picture:
- The gas plant is being commissioned to process gas from Cooper’s Sole gas field offshore Victoria for supply to customers in south-east Australia.
Thai Gulf Energy Wins LNG Import Licence
Thai independent power producer (IPP) Gulf Energy Development has secured a licence to import LNG into Thailand, it said on May 21 in a statement.
The Big Picture:
- The company is allowed to import 300,000 metric tons/year of LNG. Gulf Energy will supply the LNG to 19 small power projects (SPP) within its group.
Oz Northern Territory Eyes More Gas
Australia's Northern Territory is “uniquely positioned” to lead Australia’s post-pandemic economic recovery based partly on its gas resources, chief minister Michael Gunner said.
The Big Picture:
- The region is home to two LNG export facilities, as well as the giant Beetaloo shale gas resource, where production has yet to start.
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Gunner has established a Territory Economic Reconstruction Commission to investigate how to create jobs and attract investment, now that the territory is officially virus-free.
Coro Completes Stake Buy at Duyung PSC
Southeast Asia-focused Coro Energy said all necessary Indonesian regulatory approvals to complete the purchase of a 15% interest in the Duyung production sharing contract have now been received.
The Big Picture:
- The license holders of the Duyung PSC are Conrad Petroleum, Coro and Empyrean Energy. In April, Conrad significantly raised its resource estimates for Mako, discovered in 2017.
