European major Total outlines strategy underpinned by natural gas development and LNG production
European oil and gas major Total said its liquefied natural gas sales would reach 50 million tonnes per annum by 2025 and would double between 2020-2030, creating value from scale, arbitrage and integration along the value chain.
Japanese LNG operator Inpex to take out state-backed loans to offset forecast income drops
The Japanese oil, gas and LNG company Inpex, operator of the Ichthys LNG plant in northern Australia and developer of the Abadi LNG project in Indonesia, expects consolidated six-month operating income to June 2020 to drop by over 48 percent and plans to take out government loans.
Sempra is starting first output at Cameron LNG and upgrades earnings potential from facility
Sempra Energy said the Cameron liquefied natural gas export plant at Hackberry in Louisiana was in the final stages of commissioning and production would be starting soon as the California-based utility forecast higher future LNG earnings.
Korean shipbuilding shares jump on prospects of orders from Qatar for over 30 LNG carriers
South Korean shipbuilders saw their shares surge by more than 5 percent on speculation Qatar is about to order between 30 and 40 new liquefied natural gas carriers as it advances with plans to build four new processing Trains and to regain its position as the largest global LNG producer.
Korean shipyard executives have been sounded out by Qatar Petroleum officials on freeing up berths over the next 12 months for a wave of Qatari LNG newbuilds.
Samsung Heavy Industry shares jumped 5.63 percent on January 28 on the South Korean stock exchange to 8,400 won ($7.53) per share on the reports, Daewoo Shipbuilding & Marine Engineering shares rose 4.78 percent to 36,200 won ($32.4) and shares in Hyundai Heavy Industries, the largest shipbuilder, increased by 3.24 percent to 143,000 won ($128) each.
The Korean yards specialize in constructing the Qatari Q-Flex and Q-Max tanker with between 210,000 cubic metres and 266,000 cubic metres capacity.
A South Korean government spokesman said that the Qataris had outlined their LNG carrier building plans during a bilateral summit in Seoul.
Between 2004 and 2007, Qatar ordered 45 LNG carriers from the Korean yards when Daewoo built 19 Qatari carriers, Samsung constructed 18 vessels and Hyundai received orders for eight ships.
The Qataris are also in talks with global oil majors about selling partnerships in the additional four liquefaction Trains being planned to boost production by 40 percent.
The scope of the expansion at the Ras Laffan production complex involves an additional three liquefaction Trains, each with 7.8 million tonnes per annum of output and with pre-investment to add a fourth new Train soon after.
This would take nameplate output up to 108.2 MTPA from 77 MTPA when the four Trains at Ras Laffan are completed by 2023 and 2024.
The Qatari expansion by 31 MTPA amounts to more in volume than the LNG currently produced by nations such as Malaysia, Indonesia and Nigeria, hence the large shipping requirements.
Qatar’s foreign shareholders in the existing LNG Trains are ExxonMobil, the largest with stakes in 10 Trains, French major Total with shares in three Trains and Royal Dutch Shell and ConocoPhillips, each with a stake in one Train.
Other holders of small stakes in Qatar LNG Trains include foundation customers, including the Japanese trading houses, Marubeni Corp, Mitsui & Co. and Itochu Corp., as well as Korea Gas Corp.
All are expected to express interest in the tenders set to be launched by Qatar for potential shareholders in the Ras Laffan expansion, along with possible newcomers such as Chevron Corp., Equinor of Norway, Italy’s Eni and Far East national oil companies.
Qatar’s new onshore facilities will receive about 4.6 billion standard cubic feet per day of feed gas from the southern sector of Qatar's North Field gas reserves in the Gulf.
Qatar has the southern portion of the North Field and the other part is under the jurisdiction of Gulf neighbour Iran.
French major Total plans to accelerate its expansion along the LNG and gas value chains
French energy major Total said it was accelerating its expansion along the liquefied natural gas and gas value chains with a strategy based on strong growth in the LNG divisions.
Sempra and French energy major Total sign accord on LNG export projects in US and Mexico
French energy major Total and Sempra Energy of the US have signed an accord for cooperation in the development of North American liquefied natural gas export projects, including phase two of the Cameron LNG plant in Louisiana and the Costa Azul project in Mexico.
Eni and Total join with LNG producer Algeria in accord for Mediterranean offshore campaign
The heads of the major energy companies of France, Italy and Algeria have signed two agreements for an exclusive partnership for an exploration campaign offshore the LNG-producing North African nation.
French energy major Total increases earnings as it improves LNG output and fuel profile
French energy major Total increased its second-quarter earnings as it improved its profile in the liquefied natural gas fuel marketing and production sectors while shuffling its assets to obtain higher LNG volumes now and in the future.
