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Shizuoka Gas signs deal with China's Clean Energy to supply LNG

Reuters reported that Japanese city gas supplier Shizuoka Gas Co has signed a binding agreement with China's Clean Energy to deliver liquefied natural gas (LNG) from its Shimizu terminal in western Japan. Shizuoka Gas will transport the LNG through so-called ISO tank containers, typically pressurized tubes that hold the LNG in its super-chilled state and correspond in size to standard shipping containers to allow movement by truck, rail and container ship.

While some Japanese companies currently distribute LNG domestically via ISO tanks, this is the first term deal for a Japanese buyer to sell LNG overseas via ISO containers, said Edmund Siau, an analyst at energy consultancy FGE.

In Japan, only Shizuoka Gas currently has the capability to re-export fuel by re-loading LNG onto ships.

Under the agreement, Shizuoka Gas will supply 1,600 metric tonnes of LNG a year for a period of three years from 2019 to 2021 to Clean Energy, a fully owned subsidiary of China's Dalian Inteh Holdings Co, it added.

Shizuoka Gas said it has been seeking further utilisation of the terminal since 2017 when it first sold gas from the reloading facility.

LNG supplied from Shizuoka will be delivered to Taishan Gas Group and Rizhao Public Transport Group in China through Clean Energy and Ants Energy as an LNG selling company under Dalian Inteh Holdings, the statement said.

FGE's Siau said that transporting LNG via ISO tanks is usually done on trucks for small-scale distribution and currently still occurs within markets such as China and Japan.

Source : Reuters
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Petronet LNG net profit rises 7pct for Q3 2018

Petronet LNG, India’s largest importer of natural gas, reported a 6.90 per cent increase in net profit at INR 565.31 crore for the Q3 ended December 2018. The company had reported a net profit of INR 528.79 crore during the corresponding quarter last financial year. Total income of the firm during the quarter rose 30 per cent to INR 10,186 crore from INR 7,798 crore posted in the same quarter last financial year.

The company said its total expenses during the December quarter jumped by a third to INR 9,374.90 crore.

For the first nine months of the current financial year, Petronet's net profit increased 10 per cent to INR 1,715.23 crore.

Source : Strategic Research Institute
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Qatar & Exxon to proceed with USD 10 billion Texas LNG project

Reuters reported that Qatar Petroleum and Exxon Mobil Corp are expected to announce plans next week to proceed with a USD 10 billion project that will expand a liquefied natural gas export facility in Texas, three people familiar with the transaction said. ConocoPhillips, the third partner in the existing import terminal, plans to sell its 12.4 percent stake and does not plan to participate in the expansion.

LNG demand is soaring. Worldwide consumption of the fuel is expected to more than double to 550 million tonnes a year (mtpa) by 2030, triggering a race among oil and gas companies eager to dominate the market. Golden Pass LNG began as a receiving and regasification facility in Sabine Pass, Texas able to handle up to 2 billion cubic feet of natural gas imports per day.

However, as US gas production has soared to new records, bolstered by shale production, the demand for export capacity has increased. The potential $10 billion expansion, first announced in 2014, would focus on this new market dynamic. It is part of Qatar Petroleum's plans to invest some USD 20 billion in the United States as the company seeks to increase its overseas oil and gas footprint.

The most likely buyer for ConocoPhillips' stake is Exxon Mobil, two of the people said, adding that the existing partners do not want to bring in another participant, as plans for the project are in advanced stages.

Currently, Exxon has a 30 percent stake in the LNG export project, and Qatar Petroleum holds a 70 percent stake. The two have been strengthening a global alliance across LNG projects from the United States to Mozambique.

Source : Reuters
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Gazprom plans construction of LNG production facility in Poronaisk

Gazprom is going to build an LNG production facility on the Sakhalin, press center of the Sakhalin Government says referring to the results of a working meeting betweenMr Alexey Miller, Chairman of the Gazprom Management Committee, and Valery Limarenko, Acting Governor of the Sakhalin Region, held in St. Petersburg. The first phase foresees the construction of a facility for liquefaction of natural gas in the Poronaisk district. The facility with annual capacity of up to 100,000 tonnes will ensure LNG supplies to the Kunashir, Shikotan and Iturup islands. LNG will be delivered by seaborne transport.

According to Valery Limarenko, Poronaisk is considered as the optimal site for construction of the plant in view of logistics.

The head of the Sakhalin Region, said that “Geographic location of the port in the middle of the island lets arrange round-the-year transshipment of cargo for, let’s say the Kuril islands. Besides, the facility will be located in the vicinity of railways and motor roads. It is necessary for shipments of LNG fuel to remote areas of the Sakhalin.”

General Gas Supply and Gasification Scheme for the Sakhalin Region is to be updated by the end of 2019. Development of documentation on the sources and the scope of financing will begin in february.

Source : Strategic Research Institute
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Anadarko Petroleum announces Mozambique LNG agreement with CNOOC

Anadarko Petroleum Corporation announced Mozambique LNG1 Company Pte Ltd, the jointly owned sales entity of the Mozambique Area 1 co-venturers, has signed a Sale and Purchase Agreement with CNOOC Gas and Power Singapore Trading & Marketing Pte Ltd. The SPA is for 1.5 million tonnes per annum for a term of 13 years. Mr Mitch Ingram, Anadarko Executive Vice President, International, Deepwater & Exploration, said that "We are pleased to announce this SPA with CNOOC, an important global energy player in one of the biggest and fastest growing LNG markets in the world. This deal gives China's largest LNG importer access to Mozambique LNG's world-class gas resources, which are strategically located off the East Coast of Africa, and will provide China with a clean source of energy for years to come.”

Mr Ingram said that "Mozambique LNG is extremely pleased to have CNOOC onboard as one of our foundation customers. This agreement adds to our growing list of customers in the Asia-Pacific region, demonstrating the excellent progress we are making toward our stated goal of taking a final investment decision during the first half of this year. We expect to announce further SPAs in the near future."

Meanwhile, the Anadarko-operated Mozambique LNG project will be Mozambique's first onshore LNG development, initially consisting of two LNG trains with total nameplate capacity of 12.88 MTPA to support the development of the Golfinho/Atum fields located entirely within Offshore Area 1.

Source : Strategic Research Institute
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Siemens sign deal with Novatek to supply gas compressors for Arctic LNG 2 plant

Russian gas producer Novatek said that it had signed a deal with German tech giant Siemens to buy compressors for its new Arctic LNG 2 natural gas liquefaction plant. "The scope of supply under the contract includes three feed gas compressors and six boil-off gas compressors", the Russian firm said in a press release.

Novatek deputy chief Mr Aleksandr Fridman said that equipment for the third production line, or LNG train, will be made in Russia, adding this was "consistent with our strategic aim of creating and developing an LNG Center of Excellence in Russia."

Mr Fridman said that "Siemens and NOVATEK have a successful working relationship as they supplied to gas turbine generators and boil-off gas compressors for our Yamal LNG plant. Our next project, Arctic LNG 2, will utilize new technological solutions and employ domestic manufacturers."

Source : Sputnik
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China's LNG imports reach another record amid high stocks

Reuters reported that China's imports of liquefied natural gas rose to another monthly record in January, even as the country grapples with high gas inventories amid a warmer-than-usual winter, according to shipping data and industry sources. The world's second-largest LNG importer took 6.55 million tonnes of LNG in January, beating the previous record hit in December by nearly 2 percent, according to Refinitiv Eikon shipping data.

China's imports last year surged 41 percent from 2017 after gas shortages the previous winter prompted Chinese companies to stock up on supplies and pre-order cargoes, with Beijing continuing to push millions of households to switch to gas from coal for heating. But the import growth is not wholly due to a rise in demand, said an industry source familiar with the Chinese market.

The source said that "When people see these numbers, they think Chinese demand is up but actually it is causing a headache (for importers) as (they) have overbought and can't find demand to absorb the cargoes," declining to be identified as he was not authorised to speak with media.

China National Offshore Oil Corp resold at least one LNG cargo in January and possibly another, an unusual move during what is typically a peak demand period and highlighting this year's warmer weather, industry sources said. Chinese traders are offering LNG cargoes to international buyers or selling into their domestic market at lower-than-expected prices, the first source said.

He said that the Lunar New Year holiday has also made the situation worse because factories are shutdown for a least a week.

Wholesale LNG from small, land-based liquefaction plants fell to CNY 3,500-3,950 a tonne on Feb. 2, less than half levels of last year, according to Chinese gas-price monitoring agency yeslng.com.

Source : Reuters
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Boskalis krijgt groot contract voor LNG-transport

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Boskalis
23,00 -0,09 -0,39 % Euronext Amsterdam

(ABM FN-Dow Jones) Boskalis heeft een contract gekregen voor het transport van modules voor een LNG-uitvoerhaven in Noord-Amerika. Dat maakte het maritieme bedrijf donderdag bekend.

Het contract heeft een waarde van 55 miljoen dollar, met opties voor meerwerk ter waarde van 30 miljoen dollar.

Boskalis moet een groot aantal modules vervoeren van een productiewerf in China naar Noord-Amerika, en moet dat ook logistiek beheren. Het maritieme transportbedrijf zal hiervoor twee zware-ladingschepen met open achtersteven inzetten, die hierdoor bezet zullen zijn van het tweede kwartaal van 2021 tot het derde kwartaal van 2022.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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Hapag-Lloyd first in world to convert large container ship to LNG

Hapag-Lloyd will retrofit its 15,000 TEU ship “Sajir” to operate using liquified natural gas (LNG). In future, the engine system will be able to function using either of two types of fuel: LNG or low-sulphur fuel oil (LSFO). The contract for the retrofitting was signed at the end of last week with Hudong HONDHOA Shipbuilding (Group) Co., LTD. The conversion will be carried out in the Shanghai-based shipyard Huarun Dadong Dockyard Co., Ltd.

During its time in the shipyard, the ship’s fuel system and its existing heavy fuel oil-burning engine will be converted into a dual fuel engine. The plan will be to operate the vessel using LNG, but to also be able to use low-sulphur fuel oil (LSFO) as a backup. “By converting the ‘Sajir’, we will be the first shipping company in the world to retrofit a container ship of this size to LNG propulsion”, says Richard von Berlepsch, Managing Director Fleet Management at Hapag-Lloyd. “By carrying out this unprecedented pilot, we hope to learn for the future and to pave the way for large ships to be retrofitted to use this alternative fuel.”

Image: Hapag-Lloyd

Using LNG in the shipping industry could potentially reduce CO2 emissions by 15 to 30 percent and sulphur dioxide and particulate matter by more than 90 percent.

The “Sajir” is one of the 17 vessels in Hapag-Lloyd’s fleet that were originally designed to be LNG-ready. Its 16 sister ships are also technically prepared for retrofitting. With the conversion of the “Sajir”, Hapag-Lloyd will be implementing a technological option to reduce the environmental impact of large vessels.

Source : Strategic Research Institute
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Pieridae Energy inks Goldboro LNG benefits deal with Mi’kmaq First Nations

Pieridae Energy Limited announced that the Nova Scotia Mi’kmaq Benefits Agreement which it negotiated with the Assembly of Nova Scotia Mi’kmaq Chiefs (the Assembly) has now been ratified.

Mr Alfred Sorensen, CEO of Pieridae said that “We are looking forward to collaborating with the Mi’kmaq of Nova Scotia, and their leadership, in realizing for them the benefits of this important project.”

This Benefits Agreement establishes the framework under which the Mi’kmaq of Nova Scotia will benefit economically from the development, construction and operation of the Goldboro LNG Project. A Memorandum of Understanding (MOU) signed in 2013 originally outlined the relationship between Pieridae and the Mi’kmaq in Nova Scotia and this new Benefits Agreement underscores Pieridae’s commitment to ongoing engagement and relationship building with the First Nations communities in Nova Scotia.

Chief Terrance Paul, Co-Chair for the Assembly of Nova Scotia Mi’kmaq Chiefs said that “Nova Scotia is unceded Mi’kmaq territory and the management of our lands and resources is a priority for our Nation. As we look to ensure responsible development and environmental stewardship that reflect a Mi’kmaq voice, it’s important that we can bridge that gap with industry. This agreement with Pieridae is an example of how companies can respect our Mi’kmaw Rights and Title, and also provide an opportunity for Mi’kmaq participation in development on our lands.”

Source : Strategic Research institute
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Centrica and Tokyo Gas ink deal to purchase Mozambique LNG

Reuters reported that British energy supplier Centrica and Tokyo Gas have agreed to jointly purchase 2.6 million tonnes of liquefied natural gas a year from Mozambique LNG Company.

Centrica LNG Company Ltd, a subsidiary of Centrica, and the Japanese energy company said the LNG will be delivered ex-ship from Mozambique LNG from the start-up of production until the early 2040s.

Mozambique LNG1 is owned by US oil and gas producer Anadarko Petroleum Corporation and partners in a consortium which is developing the project aimed at serving both the Asia-Pacific and European markets.

It will consist of two liquefaction trains with the capacity to produce 12.88 million tonnes per year in its initial phase and is expected to be completed by 2023-2024.

Separately, Anadarko said Mozambique LNG1 Company has signed an agreement with Shell International Trading Middle East Ltd for 2 million tonnes of LNG a year for 13 years.

Source : Reuters
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Exxon, Qatar Petroleum announce USD 10 billion LNG export plant in Texas

Exxon and Qatar Petroleum announced that they will go ahead with a USD 10 billion project to export liquefied natural gas from a plant on the Texas Gulf Coast. The companies said construction at the Golden Pass plant in Sabine Pass, Texas, would start before April, and the export operation is expected to begin running in 2024.

Exxon said the project will create 9,000 jobs during the five years of construction and more than 200 permanent jobs. Exxon Chairman and CEO Darren Woods said it would provide a long-term supply of liquefied natural gas and stimulate the local economy.

The Golden Pass plant opened in 2010 to import gas that has been chilled into liquid form, allowing it to be loaded on to tankers for shipment. Its backers saw a market in importing natural gas, a cleaner fuel than oil.

As US gas production soared in this decade, however, with much of it coming from the Permian Basin in west Texas and New Mexico, Exxon and others studied ways to boost sales by using the suddenly abundant supply to meet surging global demand.

Globally, annual trade in liquefied gas grew faster than 10% in both 2017 and 2018, according to the International Energy Agency. Demand has been growing fastest in Asia, especially in China, but European countries are also interested in stepping up imports as a way to diversify their energy supply and reduce their reliance on Russian gas.

Trade in liquefied gas is expected to rise by more than two-thirds in the next 20 years, said Jean-Baptiste Dubreuil, an analyst with the Paris-based group.

Mr Dubreuil said that “It will be instrumental in the evolution of natural gas toward a more diversified, flexible and global market.”

The Texas project is expected to be the first of many similar announcements by energy companies this year. Dubreuil said others are expected to come from the US, Russia, Africa, and Qatar.

Exxon and Qatar Petroleum say the export facility in Texas will be able to produce about 16 million tons of liquefied gas per year.

Source : Strategic Research Institute
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McDermott, Chiyoda and Zachry to build Golden Pass LNG export project

McDermott International, along with its joint venture partners Chiyoda International Corporation and Zachry Group, have been awarded a mega contract by Golden Pass Products LLC, a joint venture between Qatar Petroleum and ExxonMobil affiliates, to build the export project in Sabine Pass, Texas. "McDermott has extensive experience in executing major projects along the U.S. Gulf Coast," said Richard Heo, McDermott's Senior Vice President for North, Central and South America. "We will apply not only our vertically-integrated capabilities but also some of the best practices and lessons learned for major construction projects in the region. We will also leverage the existing relationships we have with our partners and our customers to ensure that the Golden Pass project is a success."

McDermott, Chiyoda and Zachry Group will perform engineering, procurement, construction and commissioning of three approximately 5.2 million ton per annum (MTPA) LNG trains with an expected production capacity of around 16 million tons of LNG per year. Work will commence in the first quarter of 2019 with a projected completion date in 2024.

Source : Strategic Research Institute
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Signposts for the gas outlook - IEA's

Global gas markets, business models and pricing arrangements are all in a state of flux. There is great dynamism, both on demand and supply, but still plenty of questions on what the future might hold and what a new international gas market order might look like. The World Energy Outlook doesn’t have a forecast for what gas markets will look like in 2030 or 2040, but the scenarios and analysis provide some insight into the factors that will shape where things go from here.

The China effect on gas markets
Gas accounts for 7% of China’s energy mix today, well below the global average of 22%. But China is going for gas, and this surge in consumption has largely erased talk of a global gas glut. China’s gas demand expanded by a dramatic 15% in 2017, underpinned by a strong policy push for coal-to-gas switching in industry and buildings as part of the drive to “turn China’s skies blue again” and improve air quality. Liquefied natural gas (LNG) imports grew massively, with China surpassing Korea as the second largest LNG importer in the world. Preliminary data for 2018 suggest similarly strong double-digit growth, putting China well on track to become the world’s largest gas-importing country.

In the IEA’s New Policies Scenario (NPS), the share of gas in China’s energy mix is projected to double to 14% by 2040, and most of the increase is met by imports that reach parity with those to the European Union. Demand for LNG is set to quadruple over the same period, accounting for nearly 30% of global LNG trade flows. China has long driven global trends for oil, coal and, more recently, also for many renewable technologies. The “China effect” on gas markets is now becoming a pivotal element for those working in gas markets; this is a key reason why gas does relatively well in all the WEO scenarios.

There is no such a thing as ‘emerging Asian demand’
While China has been grabbing headlines with its unprecedented growth in demand, other emerging Asian markets – notably India, Southeast Asia and South Asia – are also increasing their presence in the global gas arena. Emerging economies in Asia as a whole account for around half of total global gas demand growth in the NPS: their share of global LNG imports doubles to 60% by 2040.

However, although the region is often dubbed “emerging Asia” as a whole, it is difficult to generalise about its gas prospects. Gas has been a niche fuel in some markets (such as India) while it is well established in some others (parts of Southeast Asia, Pakistan and Bangladesh). While there appears to be plenty of room for further growth in aggregate, with the share of gas in the region’s energy mix at less than 10%, this does not necessarily mean that all emerging Asian markets are poised to follow the path that China is taking. A wide variety of starting points and policy, supply security and infrastructure considerations make each emerging Asian market quite distinct. This requires a much more granular approach to understand the outlook for gas across this region.

Economics and policies need to be aligned for gas to grow
The case for gas can be compelling for countries that have significant resources within relatively easy reach, such as those in the Middle East or in much of North America. In these countries, there is scope for gas to displace or outcompete other fuels purely on economic grounds. However, the commercial case for gas looks weaker in many parts of emerging Asia, a key source of demand growth in our projections to 2040. Gas needs to be imported and transportation costs are significant; competition is formidable from amply available coal and renewables; gas infrastructure is often not yet in place in many cases; and consumers and policy makers are sensitive to questions of affordability.

Gas can be a good match for the developing world’s fast-growing urban areas, generating heat, power and mobility with fewer CO2 and local pollutant emissions than coal or oil. In carbon-intensive systems or sectors, it can play an important role in accelerating energy transitions. But – as China has shown – economic drivers need to be supplemented by a favourable policy environment if gas is to thrive. Without such a strategic choice in favour of gas, the fuel could be pushed to the margins by cheaper alternatives.

The main growth sector is no longer power
For now, power generation is the largest gas-consuming sector. Gas has some important advantages for power generation, notably the relatively low capital costs of new plants and the ability to ramp generation up and down quickly – an important attribute in systems that are increasingly rich in solar and wind power. But this is also the sector in which competition is most formidable; lower-cost renewables and the rise of other technologies for short-term market balancing – including energy storage – diminish the prospects for gas growth in the power sector, particularly in the Sustainable Development Scenario (SDS). A similar dynamic is visible in the use of gas to provide heat in buildings, where prospects are constrained by electrification and energy efficiency.

The largest increase in gas demand in the New Policies Scenario is projected to come from industry. Where gas is available, it is well suited to meeting industrial demand. Competition from renewables is more limited, especially for provision of high-temperature heat. Gas typically beats oil on price, and is preferred to coal for convenience (once the infrastructure is in place) as well on environmental grounds. Gas demand in industry is also projected to be more resilient in the SDS than power generation, where demand is far more sensitive to growth of renewables.

The rise of industrial demand in gas importing countries can provide the sort of reliable, ‘baseload’ demand that can underpin new upstream and infrastructure developments around the world. However, it also means less flexibility to respond to fluctuations in price, as industrial consumers can rarely switch to other fuels if gas prices rise, while power systems typically are more responsive and flexible in modulating their fuel mix.

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The risk of market tightening in the 2020s has eased, as competition for new gas supply heats up
There was a distinct lull in new LNG project approvals for three years from 2015, but a pickup in approvals in the second half of 2018, led by a major new project on Canada’s west coast, is easing the risk of an abrupt tightening in gas markets around the mid-2020s.

Qatar is among the frontrunners developing new low-cost export capacity, based on its huge potential to tap into liquids-rich gas and leverage its vast existing infrastructure complex at Ras Laffan. But there is a long list of other potential export projects around the world, from the Russian Arctic to East Africa.

The extraordinary growth of shale output means that, by 2025, one in every four cubic metres of gas produced worldwide is projected to come from the United States. With a large number of proposed LNG export projects, the United States is likely to become a cost benchmark for a diverse set of countries looking to expand or announce their presence in international gas markets. International gas supply in the past has been quite concentrated, dominated by a major pipeline exporter (Russia) and a single giant of LNG (Qatar). Supply in the future looks increasingly diverse and competitive, with LNG taking an increasing share of long-distance trade.

LNG is changing the business of trading gas …
The ramp up of new destination-flexible, hub-priced LNG supplies coming out of the United States is providing a catalyst for change in the global gas market. For decades, international gas trade (both pipeline gas and LNG) was dominated by point-to-point deliveries of gas sold under long-term oil-indexed contracts between integrated gas suppliers and monopoly utility buyers.

This model has been under pressure for some time and is now changing quickly, with a host of new market players positioning themselves between buyers and sellers. Larger portfolio players in particular are growing in importance, contracting capacity at liquefaction and regasification terminals around the world, to service a diverse range of offtake contracts across multiple markets. Smaller independents and trading houses are also emerging, taking open positions in the market, buying and selling single cargoes to take advantage of arbitrage opportunities.

European and Asian utilities have meanwhile developed their own trading capabilities, evolving away from their traditional role as passive off-takers. This expanding middle ground between buyers and sellers has helped to underpin the growth of spot LNG sales, allowing for the re-selling, swapping or redirecting of cargoes, utilising a wide variety of short- and long-term contracts.

Source : Strategic Research Institute
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Germany imported 9.7pct more gas in 2018, value up by 23.4 pct

Reuters reported that Germany imported 9.7 percent more gas in 2018 than the year before and raised its import bill by 23.4 percent. The volume of imports from January through to December was 4.45 million Terajoules (TJ) or 126 billion cubic metres, according to trade statistics office BAFA, which releases data with a time lag.

German importers paid EUR 23.7 billion for gas in the year, mirroring a rise in oil prices. Traders of gas, power and carbon watch winter gas imports especially as possible imbalances in supply and demand can drive up prices and volumes in all three markets.

Europe's biggest economy uses gas for industry, heating homes and power generation.

Germany's gas supply is mainly imported from Russia, Norway, the Netherlands, Britain and Denmark via pipelines.

Europe on the whole is increasingly absorbing volumes of liquefied natural gas (LNG) arriving on specialised vessels from the world market, namely the US, a trend which has boosted storage levels and pushed down price spreads.

Source : Reuters
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US Anadarko closes in on final Mozambique LNG decision with another supply deal

Reuters reported that US independent energy producer Anadarko has notched up another long-term commitment to buy liquefied natural gas from its proposed Mozambique terminal, moving closer to approving the multi-billion dollar project. Anadarko and Exxon Mobil are expected to sanction two separate but neighbouring LNG projects in Mozambique this year after finding giant offshore gas deposits, turning the African nation into a major global gas exporter.

The company said that it had struck a sales and purchase agreement (SPA) with India's Bharat Petroleum Corporation Ltd for 1 million tonnes per annum for 15 years. The deal now gives Anadarko over 8.5 mtpa in offtake commitments from the project, a level it previously stated would allow it to take a final investment decision (FID). The initial capacity of the two-train terminal is 12.88 mtpa.

Anadarko said that it would take the FID in the first half of this year and, in an annual report it released late on Thursday, it signalled that another long-term agreement would be announced before it sanctions the project.

Other committed buyers, according to Anadarko, are Tokyo Gas and Britain's Centrica in a joint deal, Royal Dutch Shell, Chinese state energy firm CNOOC, Tohuku Electric and French utility EDF.

Source : Reuters
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Document signed with Seimens to construct LNG power plant at Payra

UNB reported that Power Division of Bangladesh and Seimens of Germany initialed a joint development agreement for the construction of a 3600MW LNG power plant at Payra in Bangladesh. The document was signed following a meeting of the Siemens CEO Mr Joe Kaeser with Prime Minister Ms Sheikh Hasina at Hotel Sheraton. CEO of North West Power Generation Company of Bangladesh Khorshed Alam and Chief Executive Officer and Global President of Siemens Joe Kaeser signed the document.

Briefing reporters after the meeting, Foreign Sectary Md SHahidul Haque said the power plant is the initial part of the Seimens plan to come to Bangladesh in a big way to invest in health, education mobility and other sectors.

Source : UNB com
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China's to build new LNG terminals in southern Guangdong province

China's cabinet said that China will build new liquefied natural gas terminals and expand the capacity of existing terminals in its Greater Bay area. Beijing wants to turn Hong Kong, Macau and nine neighbouring cities in southern Guangdong province into an economic powerhouse dubbed the Greater Bay Area.

Under new guidelines for development of the area approved by the cabinet, the aim is to build a low-carbon and efficient energy system. China will accelerate construction of large-scale oil reserve sites and consider launching a futures exchange for carbon emissions trading in Guangzhou.

Source : Reuters
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