LNG Global News Flash Analysis and Headlines Podcast on 12.08.2019


Good morning and welcome to the LNG Marketplace
Weekly News Flash. Here is the latest news we have selected for
you from all over the media. CEDIGAZ has released its ‘Medium and Long
Term Natural Gas Outlook 2019’. The report highlights the LNG’s crucial
role to support the energy transition. According to the report from 2017 to 2040,
the natural gas demand will grow by 40%, mostly driven by Asia. The US is forecast to lead the global expansion
of LNG supply and will play a growing influence on the global gas balance and international
pricing. You will find the complete report on www.cedigaz.org
TOTAL, together with the Beninoise Electric Power Company and the Republic of Benin, have
signed an agreement to supply Benin with LNG for 15 years beginning in 2021. This piece of news we found on African Law
and Business. And another piece of news from Africa, found
on Esi Africa.com: A construction of LNG project of a consortium led by US multinational ANADARKO,
kicks off in Mozambique. The project is located in the Rovuma Basin
and will make Mozambique the largest producer and exporter of gas in Africa. Exports should start in late 2024 or early
2025. US major ConocoPhillips is thought to be mulling
a potential sale of large gas assets in northern Australia, that could bring about a radical
overhaul of both – the multi-billion-dollar Darwin LNG plant and its Barossa gas venture. While conversations are at a relatively early
stage, sources say Conoco is considering a complete exit from both the LNG plant and
the gas field. More you can read on Australian Financial
Review. Hapag-Lloyd wants the maritime world to learn
from its world-first conversion of a large container ship Sajir to LNG in what is called
a “pilot project for the entire industry”.The biggest challenges, which were identified,
include integrating the LNG tank into the existing structure, the co-ordination of the
multiple stakeholders and the tight schedule. This piece of news we found on Riviera Maritime. And another design project mentioned in the
news: the Japanese ship maker K-Line, along with Namura Shipbuilding, has secured approval
from DNV GL for the concept design of an LNG-fuelled ore carrier. The project complies with both environmental
and operation requirements, based on the second generation WOZMAX, the registered brand of
Namura Shipyard– as we read on Ship Technology.com Mitsui O.S.K. Lines and COSCO SHIPPING Energy Transportation.,
signed an agreement to develop the joint cooperation for future LNG and Ethane carrier projects
as stated on Seanews.co.uk Indonesia’s Donggi Senoro LNG is considering
a cut in its spot market sales for the rest of this year due to low prices, reversing
a previous decision to boost sales outside its contracted volumes. The company has sold 6 out of the 11 uncommitted
LNG cargoes on the spot market so far, but it may hold back from further spot sales if
LNG prices remains low– as we read on S&P Global Platts. According to Reuters, An inexorable decline
in spot market prices for LNG is also pushing utilities in Japan to be more aggressive in
price reviews built into traditional long-term contracts linked to oil prices. The utilities are looking to buy more LNG
on the spot market, where prices are around half the average contract import price for
buyers in Japan. Also India’s top gas importer Petronet LNG
will consider renegotiating its long-term supply deals to secure lower LNG prices if
spot prices remain weak for two to three years. Price decline is driving some buyers in Japan
and China to request delays in term cargoes or lifting lower volumes under their term
contracts as stated on Finance Yahoo. Papua New Guinea signalled backing from a
previously agreed LNG deal with French oil major Total, although some terms still needed
negotiating. The Papua LNG deal was agreed in April but
put up for review, following a political crisis. The joint venture between Total, Exxon Mobil
and Australia’s Oil Search was set to double the country’s exports of LNG. You can read more On Reuters. As stated on the Hellenic Shipping News, the
second of the Baltic Exchange’s LNG assessments goes live on 13 August following a successful
trial and approval by the Baltic Exchange Index Council. BLNG3 (Sabine/Tokyo round voyage with routing
via Panama) is now available to members and subscribers at www.balticexchange.com. Natural gas futures were trading sharply lower
last Monday as analysts were monitoring a significant drop-off in LNG feed gas demand. Along with production reaching new highs,
a drop in deliveries to Cheniere Energy Sabine Pass and Corpus Christi LNG terminals was
one of the “main stories”. More analysis you can read on Natural Gas
Intelligence.com As stated on LNG Industry, Occidental Petroleum
Corp. has announced the successful completion of its acquisition of Anadarko Petroleum Corporation
in a transaction valued at US$55 billion, including the assumption of Anadarko’s debt. And last but not least – Chevron has launched
one of the world’s largest carbon capture and storage projects, ever undertaken by industry:
injecting CO2 into a deep reservoir under an island off Western Australia at its Gorgon
LNG project. The carbon storage project was delayed by
more than two years due to problems with valves and pipeline equipment. The facility will reduce Gorgon’s emissions
by 40% over the life of the project. This piece of news we found on Reuters. That’s it for this week. Tune in next week for more news and until
then – thanks for tuning in!

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