LNG

The Japan Bank for International Cooperation (JBIC) is providing a loan of $650 million to develop shale gas in the Canadian Montney plays for LNG exports planned by a partnership between Mitsubishi Corp. and Canadian companies.

LNG producer Statoil is stepping up its Arctic activities and will drill nine wells during a non-stop 2013 exploration campaign in the Norwegian Barents from where feed-gas comes to its LNG plant at Hammerfest.

Imports of LNG into the UK are forecast to halve in 2012 to around 10 million tonnes from a record 20.5 million tonnes last year, as more cargoes are diverted away from Europe to the high-priced Asian market.

Algerian LNG production remains at a plateau because of declining feed-gas and a lack of investment. Now the country is looking for partners for shale gas exploration and has already tested some wells south of In Salah.