China and Russia’s trade relationship has become more complicated since the war started more than three weeks ago, raising questions about the future flow of energy between the two powerhouses.
BP (LON:BP) will carry out deepwater oil and gas exploration offshore Indonesia after winning the rights to the Agung I and Agung II blocks as part of the nation’s second bid round last year. The move offers a glimmer of hope for Indonesia’s struggling upstream sector that has seen big international firms, such as ConocoPhillips, exit recently.
Samsung C&T will partner with Vietnamese construction company Lilama to build what could be Vietnam's first gas-fired power facilities to be fuelled by liquefied natural gas (LNG) as the country works to transition away from coal.
Sunda Gas is busy completing various studies that could lead to the commercial development of the shallow-water Chuditch gas discovery offshore East Timor with a potential floating liquefied natural gas (LNG) development under consideration.
On the 24th February, the first of many Russian tanks rolled into Ukraine. And as Brian Wilson noted last week, some uncomfortable realities have kicked in here and across Europe.
The liquefied natural gas (LNG) market is primed for a global battle for supply with far-reaching repercussions as the threat of Russia cutting off Europe sends the continent scrambling for alternatives.
Australia’s main oil and gas industry lobby group claims there has been strong interest in acreage releases for new carbon capture and storage (CCS) opportunities off Western Australia and the Northern Territory. Significantly, Australian producers need to be at the forefront of carbon-neutral liquefied natural gas (LNG) or “green LNG” to remain competitive and CCS is considered one potential route to help achieve this.
There has been increasing speculation that Japanese oil and gas companies may follow their Western peers and exit Russian energy projects in response to Vladimir Putin’s bloody invasion of Ukraine. However, this seems unlikely, as such a move - designed to hurt Russia - would be blunted, as China is expected to fill any void left by departing investors.
New Fortress Energy said it is ready to advance plans for a new LNG terminal offshore Sri Lanka after a legal challenge against the project was dismissed by the country’s Supreme Court.
Australia’s Santos has started front-end engineering and design (FEED) work for its proposed giant carbon capture and storage (CCS) project offshore East Timor at the Bayu Undan field. Significantly, Santos aims to take a final investment decision (FID) in 2023 on the CCS project, which it claims has the potential to be the largest in the world.
First BP, then Shell. In just two days, Britain’s twin energy giants have dumped Russian investments nurtured over decades and shut themselves out of the world’s largest energy exporter, probably forever.
Japan’s JERA, a 50-50 joint venture between Tokyo Electric Power Company and Chubu Electric Power, is partnering with ExxonMobil for a large LNG-to-power project in Vietnam.
Germany pledged new support for liquefied natural gas (LNG) terminals, the latest sign it’s willing to retool its energy policy in the wake of Russia’s invasion of Ukraine.
Abu Dhabi National Oil Company (ADNOC) Logistics and Services will supply a floating storage unit (FSU) for Atlantic Gulf & Pacific Company’s (AG&P’s) Philippines LNG Import Terminal (PHLNG) due to start operations later this year.
The Shell-led Crux development offshore Australia, that will help backfill Shell’s (LSE:RDSA) Prelude floating liquefied natural gas (LNG) project, has moved closer to a final investment decision (FID), which partner Seven Group, expects by the end of this financial year.
Chinese oil and gas giant CNOOC is set to install the world’s largest storage tanks at the Binhai LNG import terminal in Jiangsu by the end of 2023, reported Reuters.
ExxonMobil (NYSE:XOM), which operates the PNG LNG export complex in Papua New Guinea (PNG), has sealed a gas agreement with the PNG government that provides a clear framework for development of the P’nyang field to backfill existing liquefied natural gas (LNG) infrastructure. However, major development activities are unlikely to start before 2027.
China National Offshore Oil Corporation (CNOOC) struck $13 billion worth of deals to boost oil and gas supply, as the country aims to avoid a repeat of last year’s energy crunch.
ConocoPhillips (NYSE:COP) has completed the purchase of an additional 10% shareholding interest in Australia Pacific LNG (APLNG) from Origin Energy for $1.645 billion.
The Institute for Energy Economics and Financial Analysis (IEEFA) believes the start of work on the Santos-led Barossa liquefied natural gas (LNG) development offshore northern Australia should be suspended as the associated carbon capture and storage (CCS) scheme, proposed by the operator, remains problematic and will not cut emissions. Otherwise the CCS project should be viewed as nothing more than ‘green washing’ and a diversion while construction continues, said IEEFA.
East Timor-based independent think-tank La'o Hamutuk has hit out at Santos’ plans to store carbon from its proposed Barossa liquefied natural gas (LNG) development at the Bayu Undan field in the Timor Sea by filing a submission to the Northern Territory (NT) Environmental Protection Authority (NTEPA).
Japan’s Inpex (TYO:1605) has confirmed that it will not take a final investment decision (FID) for its proposed Abadi liquefied natural gas (LNG) development in the Masela Block offshore Indonesia until the second half of the 2020s with the aim of starting production in the early 2030s. However, questions remain around the commercial viability of the project and this also marks the latest in a series of delays for Abadi.
Heerema Marine Contractors will transport and install the 4,800 metric ton Ichthys LNG booster compression module from Indonesia to the project offshore Australia.
Malaysia’s national oil company Petronas is setting up a business unit focusing on clean energy solutions as part of a global operational shuffle.
Chevron’s (NYSE:CVX) flagship carbon capture and storage (CCS) scheme, designed to catch emissions at the Gorgon liquefied natural gas (LNG) project offshore Australia, has operated at just over half its expected capacity in the previous financial year, according to the latest project update.