Qatargas’commissioning cargo has berthed at Bangladesh’s first LNG import terminal, situated off Moheshkhali Island, has unloaded its commission cargo, received from Qatargas. Construction of the Moheshkhali Floating Storage and Regasification Unit (FSRU), developed by Exelerate, was finalized just 25 month after the project was first announced.
AES Colón – a $1.15 billion LNG import terminal and adjacent combined-cycle power plant – has just been inaugurated in Panama. The project comprises the first LNG regas terminal in Central America and a CCGT with 381 MW capacity. Start of commercial operation is slated for September 1.
Improved execution of oil & gas upstream projects is now being achieved thanks to greater corporate discipline, more pre-FID planning and reduced project scope. This allows project delivery to finally hit the mark after a period of dismal performance on project returns, a new Wood Mackenzie report shows.
The Government of South Korea is planning to cut natural gas taxes by 74% and raise taxes on the use of thermal coal for power generation by 27% next year. The move is aimed at reducing the country's heavy reliance on coal for power generation and shift towards cleaner-burning gas, government officials.
Seeking to accommodate U.S. President Donald Trump’s demands for greater LNG sales to Europe, the European Commission President Jean-Claude Junker has said the EU would build more LNG import terminals. However, this does not mean imports will increase as the JKM-TTF spread has stayed wide enough over the past year for US cargoes to get a higher netback going to Asian than Europe.
Running the new efficient power stations on LNG helps Pakistan to save between $2 billion and $3 billion in fuel cost for power generation. With an efficiency rate of over 62%, the new Balloki, Haveli Bahadur Shah and Bhikki CCGTs can generate power at an average cost of Rs7-8 per unit, which is about half of the cost of electricity produced from furnace oil.
Pakistan has just added the second LNG-fuelled power plant to the grid: Commissioning of the 1,223 MW Balloki CCGT follows just weeks after the start-up of the Haveli Bahadur Shah (HBS) power plant which entered full commercial operations in May. During commissioning, the HBS and Balloki plant already added over 5.5 billion kilowatt hours of power to the grid.
Energy Transfer Partners (ETP), developer of the $4.3-billion Rover Pipeline, has accused the Ohio Environmental Protection Agency of attempting to delay the project’s completion. By raising this claim, ETP is trying to fight back against a regulatory notice over low-level contamination.
Oil and gas giant Royal Dutch Shell has underwhelmed expectations by posting a Q2 net income of $4.69 billion – less than even the lowest analyst forecast. The launch of a $25 billion share buyback, however, is seen as a signal that Shell has recovered from a three-year downturn in the energy sector.
Speedy development of Argentina’s Vaca Muerta shale gas play is hope to accelerated plans to restart exports of pipeline gas to Chile and end imports of LNG cargoes within in a few years’ time. Repsol-YPY, the Spanish Argentine joint venture, just signed a contract to supply gas via the Andes to Chile’s southern province of Biobio.