Natural Gas Daily: November 30th, 2020
EXXON SHELVES SALE OF OZ BASS STRAIT STAKE
ExxonMobil has shelved a plan to sell its stake in Bass Strait oil and gas project in Gippsland basin off the Australian state of Victoria, a spokesperson from Esso Australia, ExxonMobil’s local unit, told NGW via email.
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- BHP owns 50% stake in the project while Exxon owns the remaining 50%.
- The US major put its stake up for sale earlier this year. BHP is also planning to sell its stake in the project, it said in August.
GAZPROM SLIDES BACK INTO NET LOSS IN Q3
Russia's Gazprom suffered a net loss of rubles 251bn ($3.3bn) in the third quarter, from a rubles 212bn net profit a year earlier, it reported, blaming the reversal on foreign exchange losses and weaker prices.
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The company also posted a net loss of rubles 116bn in the first quarter as a result of price-related impairments and ruble devaluation, but recovered in the second quarter to a net income of rubles 154bn.
BAHRAIN, CHEVRON SIGN GAS STUDY DEAL
Bahrain's state-owned Oil and Gas Holding Co (Nogaholding) announced on November 26 it had signed an joint study agreement with Chevron on evaluating the kingdom's future gas demand and identifying potential sources of supply to meet it.
- The deal also supports developing a future supply chain for Bahrain's sole LNG terminal, which was completed early this year but is yet to start receiving commercial cargoes.
- In addition, Nogaholding signed a memorandum of understanding on November 26 with US firm Air Products on developing a hydrogen economy in the kingdom.
EGCO APPLIES FOR THAI LNG IMPORT LICENCE: PRESS
Bangkok-listed utility Electricity Generating Public Company (Egco) has submitted an application with the government to import LNG, according to a report in Bangkok Post.
- At present five companies hold LNG import and trade licences: state-run PTT and the Electricity Generating Authority of Thailand, as well as private entities Gulf Energy Development, B Grimm LNG, and Hin Kong Power Holding.
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Thailand has been liberalising its gas market and in recent years has allowed private firms to directly import LNG.
TELLURIAN NAMES NEW CEO, DIRECTORS
US LNG developer Tellurian said Meg Gentle is “departing the company” as CEO, to be replaced by industry veteran Octavio Simoes.
- Simoes joined Tellurian in March 2019 as senior advisor to chairman Charif Souki, following his retirement as CEO of Sempra LNG & Midstream, where he led the 12mn mt/yr Cameron LNG project to completion earlier this year.
US GAS OUTPUT DOWN AGAIN IN SEPTEMBER: EIA
US dry natural gas production fell 5.7% year-on-year in September, the US Energy Information Administration said, marking the fifth consecutive month of declining production compared to year-earlier figures.
- LNG exports were down 5.6% in September, compared to a year ago, reflecting weaker global LNG demand. In September, the US exported 5bn ft3/day of natural gas as LNG to 24 countries, the EIA said.