A highlights on day three was a speech from US Energy Secretary Jennifer Granholm when she rowed back on previous anti-hydrocarbon industry statements. “We know that oil and gas is going to remain a part of our energy mix for years to come,” said Granholm. “Even the boldest projections for clean energy deployment suggest that in the middle of the century we are going to be using abated fossil fuels,” she declared. Analysts said that the speech was a sign from the Biden Administration that its understanding of energy reality is evolving and policy is not being totally overshadowed by a green-and-extreme wish list.
Bahrain FLNG move
The Arabian Gulf state of Bahrain announced that it was considering the production of LNG using a floating liquefaction facility. The plan was revealed by Nasser bin Hamad Al-Khalifa, Chairman of Bahrain’s National Oil and Gas Holding Company. “We are studying the possibility of constructing a floating liquefied natural gas facility to export gas to capture some of the strong international demand,” Al-Khalifa said.
YPF-Petronas LNG plan
Argentina's state-controlled energy company YPF and Malaysia's Petronas said in a presentation that they expected to make a final decision in 2024 on the first phase of a huge natural gas project in Argentina backed by Malaysian-led finance. The YPF-Petronas venture has five phases comprising natural gas production, gas storage, pipeline transportation, liquefaction into LNG and then LNG exports. “Drilling rigs are expected to be imported for the upstream portion of the gas project,” said YPF Chief Executive Pablo Iuliano.