16
Aug
2021

Gas Matters Today | news roundup | w/c 9 August 2021

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​International

Limiting warming to 2°C will be beyond reach without rapid and large-scale reductions in greenhouse gas emissions, according to a landmark report from the UN's Intergovernmental Panel on Climate Change. Following the release, the UK called for “greater global ambition” ahead of November’s COP 26 UN climate summit in Glasgow.

Infrastructure company Golar LNG is speaking with an “existing client” about building a giant 5 mtpa FLNG facility named Golar Mark III, after first pitching the idea in 2019. In its Q2 ‘21 quarterly results statement, Golar said the vessel could be used to monetise the client’s resources and supply them as LNG.

Burning blue hydrogen for heat may, in certain situations, have a worse impact on global warming than coal, gas or oil, according to a peer-reviewed study published in Energy Science & Engineering, which argues that methane emissions from the gas value chain undermine any benefits gained from mitigating CO2 emissions with blue hydrogen.

​Africa

Mozambique / Rwanda – Rwandan and Mozambican forces have regained control of a strategic port town in northern Mozambique previously held by Islamist militants that is key to restarting work on the Mozambique LNG project, the Rwandan Defence Forces have confirmed.

​Asia Pacific

China – Shell’s subsidiary in China has signed a cooperation agreement with Shanghai Electric Power to jointly pursue green hydrogen and CCS projects, which could support Shanghai Electric’s plans for a hydrogen fuel cell vehicle ecosystem around Shanghai and the Yangtze River Delta.

Indonesia – The Inpex-led 9.5 mtpa Abadi LNG export project has been delayed due to Indonesia’s travel and entry restrictions related to the Covid-19 pandemic, the company’s CEO has said.

Japan – The country should take a carrot and stick approach to the energy transition by officially recognising companies that achieve carbon neutrality while at same time launching a nationwide carbon market, Japanese energy ministry METI has said.

Vietnam – Russia’s largest independent producer Novatek has launched a representative office in capital city Hanoi in a bid to find offtakers for its budding LNG portfolio ahead of a predicted trebling of LNG imports in the southeast Asian nation by 2040.

​Australasia

Australia – The Western Australia government is considering legislating its 2050 net zero emissions commitment, but without an outright ban on new gas projects, state premier Mark McGowan has said.

A BP-led study has found that green hydrogen and ammonia production using renewable ‎energy is technically feasible at scale in Western Australia in a study presented only weeks after Canberra refused an environmental permit to a giant renewables project.

Papua New Guinea – PNG’s government has once again amended the final terms of a fiscal agreement that underpins the first offshore upstream development in the country, according to project developer Twinza Oil.

​Central & South America

Brazil – US firm New Fortress Energy has entered into two agreements with subsidiaries of Unigel to supply gas to the Brazilian chemical company’s fertiliser plants in the north-eastern states of Bahia and Sergipe.

​Europe

UK – Scotland’s first minister Nicola Sturgeon has asked UK prime minister Boris Johnson to “reassess” North Sea licenses under more stringent climate conditions amid mounting pressure from campaigners that oppose new North Sea fossil fuel development.

​Middle East

Saudi Arabia – Saudi Aramco is set to plough ahead with investments to bolster crude production capacity by 1 million barrels/d, the world’s largest energy company announced during its Q2’21 results – its strongest quarterly performance since Q4’18.

​North America

US – BP has secured more “renewable natural gas” to sell in California after the British major’s North American subsidiaries signed SPAs, under which a subsidiary of Colorado-based firm Gevo will source biogas derived from cow manure.

ExxonMobil’s shale subsidiary XTO Energy is seeking buyers for 5,000 gas wells in the Fayetteville shale play in Arkansas as rebounding oil and gas prices continue to support an uptick in M&A activity in the US shale sector.

The US Senate has passed a USD 1 trillion infrastructure bill and a USD 3.5 trillion budget resolution, both which will allocate funds to energy and climate projects if approved by the House of Representatives.

Federal watchdog FERC has approved Kinder Morgan’s request to waive USD 192 million in penalties that shippers incurred during Winter Storm Uri in Texas which took place in February.

The California Energy Commission has adopted the 2022 Building Energy Efficiency Standards for new and renovated buildings, which encourages use of electric heat pumps, which CEC says consume less energy and emit less than gas-powered units.

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