12
Jul
2021

Gas Matters Today | news roundup | w/c 5 July 2021

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International

Global gas demand is expected to recover this year and continue to grow to reach 4,300 Bcm in 2024, up 7% on pre-Covid levels, but growth levels could put net zero goals at risk, the IEA said in its latest Gas Market Report while calling for stronger policies to be introduced over the forecast period to underpin efficiency gains and fuel substitutions.

Chevron, Shell, and TotalEnergies have joined a research project led by GHGSat to map methane emissions from offshore oil and gas platforms using space-based satellites, as oil and gas companies come under increasing pressure to reduce methane emissions from their operations.

Global gas consumption fell by 2.3% year on year to 3.8 Tcm in 2020, but China and Iran bucked the trend, with demand in the two countries growing by around 7% and 4% annually, respectively, according to new data released last week by BP.

​Africa

Mauritania / Senegal – First gas from the Greater Tortue Ahmeyim FLNG project offshore Mauritania and Senegal has again been delayed, with the milestone now expected be reached in Q3’21, project partner Kosmos Energy has announced.

South Africa – Qatar Petroleum has strengthened its upstream footprint offshore South Africa after agreeing to farm into three exploration blocks held by strategic partner TotalEnergies close to significant previous condensate discoveries.

Energy and petchems firm Sasol has joined forces with the government-owned Industrial Development Corporation of South Africa to help develop a green hydrogen economy in the country.

​Asia Pacific

Brunei / Japan – Brunei LNG and Osaka Gas have joined the carbon-neutral LNG club after a cargo from Brunei was delivered to Senboku LNG terminal in Japan last week ahead of a planned start of carbon-neutral gas supply for customers from 1 August.

Japan – The country has upped its 2030 target for installed solar capacity to better match its recently-reduced GHG emissions target, while a draft government plan could potentially have knock-on effects on the country’s appetite for LNG imports.

The Japanese government has outlined plans to invest USD 320 million from its Green Innovation Fund to develop the “next generation” of hydrogen-, ammonia-, and LNG-powered ships to make Japan’s shipping industry more competitive and facilitate a net zero push.

Malaysia – State-owned Petronas has found a home for partial volumes from the LNG Canada project after signing a 10-year supply deal with CNOOC, marking the first long-term supply deal indexed to the Canada Alberta Energy Company and Brent crude.

Taiwan – Qatar Petroluem has signed five long-term contracts so far in 2021 after CPC Corporation penned a 15-year deal last week, marking the Taiwanese firm’s third long-term contract for Qatari LNG, meaning the firm will take a total of 5.75 mt from Qatar.

​Europe

EU – European carbon prices tumbled by more than 9% in the four days to last Thursday as gas markets corrected and speculative traders liquidated carbon positions ahead of an anticipated announcement by the European Commission to revamp the carbon market.

France – Energy major TotalEnergies has announced plans to launch joint ventures to develop methods of using microalgae and household waste as feedstock for sustainable fuels like bio-LNG.

Italy – Eni has agreed to buy 13 onshore wind farms in Italy for an undisclosed sum from fund manager Glennmont Partners and PGGM Infrastructure Fund, as the Italian major works to reach a 5 GW global renewable capacity target by 2025.

UK – British chemicals conglomerate and Europe’s largest hydrogen producer Ineos has agreed to invest USD 35 million into London’s first dedicated clean hydrogen fund, with a view to furthering the aims of its own clean hydrogen strategy. Days later, Gas Matters Today spoke with Ineos Energy executive chairman Brian Gilvary to discuss the investment and the future of the global hydrogen industry.

​North America

Mexico – The government has decided to grant operatorship of the giant offshore Zama field to state-owned energy firm Pemex in a decision that has angered Houston-based Talos Energy, which discovered the field.

​South Asia

India – The country’s largest gas distributor GAIL has outlined plans to expand its renewable and petrochemicals business, as the company looks to diversify in order to adapt to changing business scenarios over the next decade.

Sri Lanka – LNG-to-power developer New Fortress Energy last Thursday announced a deal with the Sri Lankan government to build its first Asian LNG terminal off the coast of capital city Colombo to supply the 300-MW Yugadanavi power plant, possibly by 2022.

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