Natural Gas Daily: November 6th, 2020

SINOPEC'S FULING FIELD SETS PRODUCTION RECORD

Output at the Fuling shale gas field in Chongqing has reached a daily record of 20.62mn m3, state-owned Sinopec has reported.

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• Fuling serves as a key source of supply for the Sichuan-East pipeline. It passed the 30bn-m3 cumulative production milestone earlier this year.  Last month, Sinopec increased its estimate for proven reserves at the field by almost 192bn m3. 

• Following the major gas reforms last year, there is still intense pressure from the government on Chinese producers to increase domestic gas production, as part of the strategy to reduce over-dependence on imports. 

CHENIERE SEES HIGHER Q3 LOSS

US LNG infrastructure developer Cheniere Energy said it had a net loss of $463mn in Q3 2020, up from a net loss of $318mn in the same period last year. Operating earnings (consolidated adjusted Ebitda) slipped to $477mn from $694mn.

• A combination of demand impacts associated with Covid-19 mitigation measures and two major hurricanes in the US Gulf Coast area dramatically reduced the number of LNG cargoes shipped from Cheniere’s two liquefaction terminals at Sabine Pass in Louisiana and Corpus Christi, Texas.

US ELECTIONS HEADING FOR 'BEST OUTCOME': SEMPRA

The US elections are heading for a Democrat win, with Joe Biden installed in the White House, but the Senate is going Republican. This would be a good outcome for the US, said US utility Sempra's vice-president of government affairs Brian Kelly, commenting on the "circus". 

• The outcome means only tinkering around at the edges, as far as energy policy under Biden is concerned. "With no mandate, it has be compromise," he said. "That is the best." 

• The whole webinar, which also included presentations from the European Commission and from US exporters' group LNG Allies, may be watched here. 

TOTAL DELAYS TYRA RESTART OWING TO COVID-19

France's Total has postponed the restart of the Tyra gas field off Denmark until the second quarter of 2023, instead of in 2022 as originally planned, in light of the Covid-19 pandemic, project partner Noreco said.

• Tyra accounted for 90% of Denmark's gas production until it was shut down in September last year so that a three-year redevelopment programme could begin.

CANADA’S ENBRIDGE SETS NET-ZERO ASPIRATION

North American pipeline infrastructure developer Enbridge says it intends to achieve net-zero greenhouse gas (GHG) emissions by 2050, with an intermediate target to reduce GHG emissions intensity by 35% by 2030.

• To achieve its GHG emission goals, Enbridge says it will focus on modernisation and innovation within its existing energy transportation and distribution systems and decarbonise energy use at its facilities.
  

UNIPER CONSIDERS SWITCHING LNG PROJECT TO H2 (UPDATE)

Germany's Uniper is considering converting a planned LNG terminal in Wilhelmshaven to import hydrogen, after failing to attract enough binding booking for its 10mn metric tons/yr capacity, the company said in a statement. The company also told NGW that plans to buy Canadian LNG from the planned Nova Scotia project were separate from the German import terminal project.

• Wilhelmshaven is one of three planned regasification terminals in Germany. 

• Hanseatic LNG is due to hold an open season for a proposed terminal in Stade this year, while the Netherlands' Gasunie and partners aim to finalise LNG supply contracts with Germany's RWE this year to underpin a project in Brunsbuettel.