BP reports solid results after quarter marked by CEO’s exit and notes risk factors in LNG and markets outlook
UK major BP posted solid results in the third quarter that saw the Chief Executive resign while in company activities a very strong oil trading result along with higher oil and natural gas production were partly offset by weaker natural gas marketing and trading results.
UK major BP ships first cargo from third liquefaction Train at Tangguh LNG expansion project in Indonesia
UK major BP shipped the first cargo on behalf of the Tangguh LNG production-sharing contract partners in Indonesia as the third liquefaction Train entered commercial operations.
Italian major Eni makes significant gas discovery in Indonesia likely headed for Bontang LNG plant in East Kalimantan
Italian oil and gas major Eni and a key shareholder in global liquefied natural gas production projects has made a “significant’ natural gas discovery in East Kalimantan in Indonesia with the volumes likely headed for the onshore Bontang liquefaction and export plant.
Eni explains strategy of $4.9Bln takeover of UK-based Neptune and its wide spread LNG and pipeline gas assets
Italian energy company Eni has explained the strategy behind its agreed acquisition for $4.9 billion of UK-based Neptune Energy, which is controlled by equity funds and owns key global LNG stakes and gas field assets in Algeria, Indonesia, Norway, the UK, the Netherlands and Australia.
Japanese LNG producer and importer raises industry profile in Japan with tours of Naoetsu terminal
Inpex Corp., the leading Japanese liquefied natural gas developer and operator in the Asia-Pacific region, is focusing on re-assuring shareholders and the public in Japan on the company’s safety and security by organising facility tours of the Naoetsu LNG Terminal in Joetsu City in Niigata Prefecture.
Leading LNG player Mitsui confirms addition of Texas shale-gas asset to global liquefaction holdings
Mitsui & Co. of Japan, a leading liquefied natural gas market participant and trader, confirmed the acquisition of shale-gas assets in South Texas with access to LNG export plants on the US Gulf Coast.
Mitsui said it purchased a 92 percent working interest in the Eagle Ford basin assets from a subsidiary of Silver Hill Energy Partners, a private company based in Dallas, Texas.
The assets comprise 8,500 net acres known as the Hawkville field and with easy reach of the region’s LNG export cluster.
The confirmation statement from Mitsui on the acquistion did not include a value for the transaction.
“Additional gas production is expected from this asset with further development,” said the company.
The Eagle Ford acreage will be managed by a company subsidiary, Mitsui E&P USA.
“The subsidiary will develop and operate the asset, aiming for stable gas production of over 200 million cubic feet per day from the field,” Mitsui explained.
Mitsui stated that it was also promoting liquefaction and export of US natural gas to global markets and has methanol production businesses using natural gas as feedstock.
Cameron stake
It has also increased its offtake from the Cameron LNG plant in Louisiana, operated by Sempra Infrastructure, and where the Japanese company has a 16.5 percent shareholding.
However, Mitsui’s LNG assets are global with holdings in the Middle East at liquefaction plants in Qatar, Oman and the United Arab Emirates.
In Asia, Mitsui has an LNG stake in the Tangguh export project in Indonesia and is still a shareholder in the Sakhalin LNG plant in the Russian Far East.
It additionally has a stake in the oldest Australian liquefaction plant, the Woodside-operated Northwest Shelf (NWS) plant, and has an impending tolling deal at NWS using feed gas from the onshore Perth Basin in Western Australia.
“In addition to proactively pursuing upstream development projects, we will strengthen the natural gas value chain, including adjacent businesses,” Mitsui stated.
Mitsui said it believed that natural gas and LNG would play an important role as a “pragmatic solution” for the energy transition and it would continue to contribute to the stable supply of energy.
Chinese natural gas imports by pipelines and as LNG increase in March though still lower for first quarter
Chinese natural gas imports by pipeline and as liquefied natural gas increased by more than 11 percent in March, though were still lower for the first quarter compared with 2022.
Japanese LNG imports drop 10 percent as coal preferred for power even at twice last year's price
Japanese liquefied natural gas deliveries declined by almost 10 percent last month even as close to record deliveries were made by Australia and thermal coal was the preferred fuel over LNG for power generation.
Japanese Asia-Pacific LNG producer and developer Inpex reports increased profits and operating activities
Inpex Corp. the leading Japanese energy company and operator of the Ichthys LNG plant in Australia and developer of the Abadi liquefaction project in Indonesia, reported a jump in earnings and operating activities.
Indonesia extends by 20 years the Tangguh production sharing deal to underpin LNG project and expansion
Indonesia has approved the extension of the Tangguh production sharing contract for 20 years to underpin the Tangguh LNG export project involving state companies, UK major BP, Japan’s Inpex and a Chinese stake, including in the Train 3 expansion currently under construction.
