Daily Digest: February 17th, 2020
US TO INVEST $1BN IN EUROPEAN ENERGY
The US will invest up to $1bn in the Three Seas Initiative, aimed at developing energy, transport and digital connectivity in central and eastern Europe, Secretary of State Mike Pompeo told a security conference in Munich, Germany on February 15.
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QATAR DELAYS PICKING PARTNERS FOR LNG EXPANSION: PRESS
Qatar has delayed selecting Western partners for the next stage of North Field, the world's largest source of LNG, sources told Reuters on February 17.
QATARI SHIPPING GIANT SEES RECORD YEAR
Qatar Gas Transport Company (Nakilat) reported consolidated net income of Qatari riyals 1bn ($280mn) in 2019, up 12.4% on 2018’s QR 892mn. Nakilat CEO Mohammed Bin Saleh Al Sada said Nakilat had done well from better market conditions and its own implementation of business diversification and resource optimisation strategies.
CHIYODA MEETS MILESTONES IN WORK WITH MCDERMOTT
Japanese engineering firm Chiyoda reported a forecast-beating profit for Q1-3 (April-December 2019) of yen 16.9bn ($154mn) on an operating income of yen 24.5bn, it said February 14. Profits were boosted when Cameron LNG reached its January 2020 target in December, triggering an early payment in Q3.
EGYPT STRIKES OFFSHORE DEALS WITH IOCS
Egypt has reached preliminary deals with five international oil companies (IOCs) on oil and gas exploration in the Mediterranean, its petroleum minister Tarek El Molla said on Sky News Arabia TV on February 15. The agreements with Anglo-Dutch Shell, US Chevron, UK BP, French Total and ExxonMobil cover seven concessions, where exploration drilling should begin in early 2021, the minister said.
INDIA CALLS FOR SHIFT FROM OIL-BASED LNG PRICING
India's minister of petroleum and natural gas Dharmendra Pradhan said February 15 during an event in Delhi that there was a need to move away from the crude oil prices as the basis for determining LNG prices.
JAPANESE TRIO INK LNG TRANSPORTATION PACT
Hiroshima Gas, Tokyo Gas, and Tokyo LNG Tanker Co. have signed an LNG transportation agreement, Tokyo Gas said February 13 in a statement. “This agreement enables Hiroshima Gas to enhance its efficiency of LNG transportation and reduce its transporting costs,” Tokyo Gas said.