Natural Gas Daily: November 27th, 2020
DANA SEES RECORD GAS FLOWS IN IRAQI KURDISTAN
The UAE's Dana Gas has reported that the Pearl Petroleum consortium it is involved in produced a record 418mn ft3/day of gas at the Khor Mor gas plant on November 18.
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- Dana is the largest private gas supplier in the Middle East, with fields and concessions in Egypt, Iraqi Kurdistan and the UAE.
- The company swung to a $360mn net loss in Q3, from a $2mn profit a year earlier, after taking on $243mn in impairments in Egypt. It booked a further $163mn in write-offs as a result of the sale of most of its onshore concessions in Egypt to US independent IPR Energy in October.
CENTRICA EYES SALE OF LNG PORTFOLIO: PRESS
UK-based energy supplier Centrica is looking to sell its portfolio of LNG supply contracts and other assets, the Wall Street Journal has reported, citing sources. The target value of the transaction is unknown, the newspaper said, and similar recent deals suggest Centrica might have to pay buyers to take the business off its hands.
- Centrica, which suffered a £135mn ($169mn) statutory loss in the first half, sold its North American energy supply, services and trading subsidiary Direct Energy to US firm NRG Energy for $3.63bn in cash in July.
BAHRAIN TO CREATE HYDROGEN ECONOMY
Bahrain's National Oil and Gas Authority (Noga) announced on social media on November 26 that its investment arm Nogaholding had signed a memorandum of understanding (MoU) with US firm Air Products on developing a hydrogen economy in the gulf state.
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The pair will assess the viability of deploying hydrogen as a fuel in the transport sector and as a means of reducing CO2 emissions.
Pakistan's Oil and Gas Development Co (OGDC) announced it had made a gas discovery at its 100%-owned Lakhirud exploration licence, in the Musa Khel district of the country's Balochistan province. The company's Lakhirud X-1 well was drilled to a depth of 3,000 m and was tested at a rate of 2.5mn ft3/day of gas and 18 barrels/day of water.
- Pakistan is expanding the role of gas in its energy mix to reduce costs. It is striving to increase domestic production to meet demand, while also expanding its LNG import capabilities.