Natural Gas Daily: August 12th, 2020
India's Gas Demand Rises 5.5% in June
India’s natural gas consumption during June was 5.14bn m³, up 5.5% yr/yr, according to NGW calculation using the data published by Indian oil and gas ministry's Petroleum Planning and Analysis Cell (PPAC).
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India’s LNG imports in June were down 6.9% yr/yr, PPAC said last month.
- In order to fight the problem of air pollution in urban pockets, India is aiming to increase the share of gas in the energy mix to 15% by 2030 from 6% today.
Gas and power demand was down in the first half of the year relative to last year but German utility E.ON expects to recover almost half of its €300 ($353)mn losses related to Covid-19 by 2024, it said.
- By connecting their distribution networks to distributed power-to-gas production facilities and to the planned hydrogen transport network, E.ON aims to mix natural gas with green gases. An E.ON executive is chairing the national hydrogen council.
Shell to Buy All Output from UK Saltfleetby Field
Anglo-Dutch major Shell has agreed to buy the entire output from the Saltfleetby gas field in the UK, the operator and 51% owner Angus Energy said.
- In late June, it said it expected first gas later this year, although there were many moving parts and the pace would be set by the slowest of them.
Oz LNG Exports in July Down 17%: EnergyQuest
Australian LNG exports in July were 5.8mn metric tons, down 17.1% yr/yr and slightly lower than 5.9mn mt in June, energy consultancy EnergyQuest said in a report.
- “Australian LNG shipments in July were steady compared with June, primarily due to continued maintenance and repairs at Gorgon,” it said.
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LNG exports from projects located on the Australian east coast stood at 1.67mn metric tons (mt) in July, down 1.2% yr/yr, according to data published by Gladstone Ports Corporation on August 6.
Valeura Seeks Assets, Partners for Turkey
Canadian producer Valeura is looking to use its cash to add to its Turkish gas output through mergers and acquisitions, it said as it announced its Q2 2020 results. However, its practice of frequent well workovers has yielded quick results and kept output rising overall, setting aside the crisis of this year.
- Valeura has engaged Stellar Energy Advisors with a mandate to secure a partner with technical and commercial expertise suited to a tight gas appraisal play, following the departure of its Norwegian partner Equinor earlier this year.
Providence CEO Sees Many Benefits from Irish Gasfield
Although a final investment decision (FID) to develop the Barryroe field offshore Ireland is still ahead of it, Providence Resources' CEO Alan Linn believes that that he now has the corporate, environmental and political pieces in place to proceed.
- Ireland is due to mostly run out of gas over the next decade, with the government predicting that it will be more than 90% reliant on imports by 2030, as a result of Corrib and other key fields reaching depletion.
