Natural Gas Daily: November 9th, 2020

US OIL & GAS TO FACE MORE RESTRICTIONS UNDER BIDEN: WOODMAC

There will be greater restrictions on US oil and gas development but a Biden adminisration will be a boon for the offshore wind sector, Wood Mackenzie said in a research note on November 7.

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• Control of the Senate - previously held by the Republicans - won't be decided until run-off elections are held in Georgia on January 5 for that state's two seats. If Republicans retain control of the senate, there will be a limit to how much he can achieve. 

• While Biden has denied intending to ban fracking, he has promised to end the sale of new leases for oil and gas development on public lands and waters. 

CHINESE GAS IMPORTS JUMP 15% IN OCTOBER

China’s natural gas imports via pipeline and in the form of LNG in October were up 15.5% yr/yr at 7.53mn metric tons, according to customs department data published November 7.

• China’s gas consumption during the first nine months of the year came to 230.95bn m3, up 3.6% yr/yr, the National Development and Reform Commission said on October 28.

QATAR PETROLEUM SETS UP LNG TRADING ARM

Qatar Petroleum announced it had set up a new LNG trading arm called QP Trading.

• QP Trading also signed its first deal with Singapore’s Pavilion Energy. Under the agreement, QP Trading will deliver up to 1.8mn metric tons of LNG/year for 10 years to Singapore from 2023.

OZ SCARBOROUGH JV TO ACCEPT PRODUCTION LICENCES

Australian Woodside said that the Scarborough joint venture plans to accept production licences for WA-1-R (Scarborough) and WA-62-R (North Scarborough) from the Commonwealth and Western Australian joint authority.

• Woodside is targeting a final investment decision in 2020 for the Scarborough development and first cargo in 2024.