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Exxon, Qatar Petroleum announce USD 10 billion LNG export plant in Texas

Exxon and Qatar Petroleum announced that they will go ahead with a USD 10 billion project to export liquefied natural gas from a plant on the Texas Gulf Coast. The companies said construction at the Golden Pass plant in Sabine Pass, Texas, would start before April, and the export operation is expected to begin running in 2024.

Exxon said the project will create 9,000 jobs during the five years of construction and more than 200 permanent jobs. Exxon Chairman and CEO Darren Woods said it would provide a long-term supply of liquefied natural gas and stimulate the local economy.

The Golden Pass plant opened in 2010 to import gas that has been chilled into liquid form, allowing it to be loaded on to tankers for shipment. Its backers saw a market in importing natural gas, a cleaner fuel than oil.

As US gas production soared in this decade, however, with much of it coming from the Permian Basin in west Texas and New Mexico, Exxon and others studied ways to boost sales by using the suddenly abundant supply to meet surging global demand.

Globally, annual trade in liquefied gas grew faster than 10% in both 2017 and 2018, according to the International Energy Agency. Demand has been growing fastest in Asia, especially in China, but European countries are also interested in stepping up imports as a way to diversify their energy supply and reduce their reliance on Russian gas.

Trade in liquefied gas is expected to rise by more than two-thirds in the next 20 years, said Jean-Baptiste Dubreuil, an analyst with the Paris-based group.

Mr Dubreuil said that “It will be instrumental in the evolution of natural gas toward a more diversified, flexible and global market.”

The Texas project is expected to be the first of many similar announcements by energy companies this year. Dubreuil said others are expected to come from the US, Russia, Africa, and Qatar.

Exxon and Qatar Petroleum say the export facility in Texas will be able to produce about 16 million tons of liquefied gas per year.

Source : Strategic Research Institute
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McDermott, Chiyoda and Zachry to build Golden Pass LNG export project

McDermott International, along with its joint venture partners Chiyoda International Corporation and Zachry Group, have been awarded a mega contract by Golden Pass Products LLC, a joint venture between Qatar Petroleum and ExxonMobil affiliates, to build the export project in Sabine Pass, Texas. "McDermott has extensive experience in executing major projects along the U.S. Gulf Coast," said Richard Heo, McDermott's Senior Vice President for North, Central and South America. "We will apply not only our vertically-integrated capabilities but also some of the best practices and lessons learned for major construction projects in the region. We will also leverage the existing relationships we have with our partners and our customers to ensure that the Golden Pass project is a success."

McDermott, Chiyoda and Zachry Group will perform engineering, procurement, construction and commissioning of three approximately 5.2 million ton per annum (MTPA) LNG trains with an expected production capacity of around 16 million tons of LNG per year. Work will commence in the first quarter of 2019 with a projected completion date in 2024.

Source : Strategic Research Institute
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Signposts for the gas outlook - IEA's

Global gas markets, business models and pricing arrangements are all in a state of flux. There is great dynamism, both on demand and supply, but still plenty of questions on what the future might hold and what a new international gas market order might look like. The World Energy Outlook doesn’t have a forecast for what gas markets will look like in 2030 or 2040, but the scenarios and analysis provide some insight into the factors that will shape where things go from here.

The China effect on gas markets
Gas accounts for 7% of China’s energy mix today, well below the global average of 22%. But China is going for gas, and this surge in consumption has largely erased talk of a global gas glut. China’s gas demand expanded by a dramatic 15% in 2017, underpinned by a strong policy push for coal-to-gas switching in industry and buildings as part of the drive to “turn China’s skies blue again” and improve air quality. Liquefied natural gas (LNG) imports grew massively, with China surpassing Korea as the second largest LNG importer in the world. Preliminary data for 2018 suggest similarly strong double-digit growth, putting China well on track to become the world’s largest gas-importing country.

In the IEA’s New Policies Scenario (NPS), the share of gas in China’s energy mix is projected to double to 14% by 2040, and most of the increase is met by imports that reach parity with those to the European Union. Demand for LNG is set to quadruple over the same period, accounting for nearly 30% of global LNG trade flows. China has long driven global trends for oil, coal and, more recently, also for many renewable technologies. The “China effect” on gas markets is now becoming a pivotal element for those working in gas markets; this is a key reason why gas does relatively well in all the WEO scenarios.

There is no such a thing as ‘emerging Asian demand’
While China has been grabbing headlines with its unprecedented growth in demand, other emerging Asian markets – notably India, Southeast Asia and South Asia – are also increasing their presence in the global gas arena. Emerging economies in Asia as a whole account for around half of total global gas demand growth in the NPS: their share of global LNG imports doubles to 60% by 2040.

However, although the region is often dubbed “emerging Asia” as a whole, it is difficult to generalise about its gas prospects. Gas has been a niche fuel in some markets (such as India) while it is well established in some others (parts of Southeast Asia, Pakistan and Bangladesh). While there appears to be plenty of room for further growth in aggregate, with the share of gas in the region’s energy mix at less than 10%, this does not necessarily mean that all emerging Asian markets are poised to follow the path that China is taking. A wide variety of starting points and policy, supply security and infrastructure considerations make each emerging Asian market quite distinct. This requires a much more granular approach to understand the outlook for gas across this region.

Economics and policies need to be aligned for gas to grow
The case for gas can be compelling for countries that have significant resources within relatively easy reach, such as those in the Middle East or in much of North America. In these countries, there is scope for gas to displace or outcompete other fuels purely on economic grounds. However, the commercial case for gas looks weaker in many parts of emerging Asia, a key source of demand growth in our projections to 2040. Gas needs to be imported and transportation costs are significant; competition is formidable from amply available coal and renewables; gas infrastructure is often not yet in place in many cases; and consumers and policy makers are sensitive to questions of affordability.

Gas can be a good match for the developing world’s fast-growing urban areas, generating heat, power and mobility with fewer CO2 and local pollutant emissions than coal or oil. In carbon-intensive systems or sectors, it can play an important role in accelerating energy transitions. But – as China has shown – economic drivers need to be supplemented by a favourable policy environment if gas is to thrive. Without such a strategic choice in favour of gas, the fuel could be pushed to the margins by cheaper alternatives.

The main growth sector is no longer power
For now, power generation is the largest gas-consuming sector. Gas has some important advantages for power generation, notably the relatively low capital costs of new plants and the ability to ramp generation up and down quickly – an important attribute in systems that are increasingly rich in solar and wind power. But this is also the sector in which competition is most formidable; lower-cost renewables and the rise of other technologies for short-term market balancing – including energy storage – diminish the prospects for gas growth in the power sector, particularly in the Sustainable Development Scenario (SDS). A similar dynamic is visible in the use of gas to provide heat in buildings, where prospects are constrained by electrification and energy efficiency.

The largest increase in gas demand in the New Policies Scenario is projected to come from industry. Where gas is available, it is well suited to meeting industrial demand. Competition from renewables is more limited, especially for provision of high-temperature heat. Gas typically beats oil on price, and is preferred to coal for convenience (once the infrastructure is in place) as well on environmental grounds. Gas demand in industry is also projected to be more resilient in the SDS than power generation, where demand is far more sensitive to growth of renewables.

The rise of industrial demand in gas importing countries can provide the sort of reliable, ‘baseload’ demand that can underpin new upstream and infrastructure developments around the world. However, it also means less flexibility to respond to fluctuations in price, as industrial consumers can rarely switch to other fuels if gas prices rise, while power systems typically are more responsive and flexible in modulating their fuel mix.

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Deel 2:

The risk of market tightening in the 2020s has eased, as competition for new gas supply heats up
There was a distinct lull in new LNG project approvals for three years from 2015, but a pickup in approvals in the second half of 2018, led by a major new project on Canada’s west coast, is easing the risk of an abrupt tightening in gas markets around the mid-2020s.

Qatar is among the frontrunners developing new low-cost export capacity, based on its huge potential to tap into liquids-rich gas and leverage its vast existing infrastructure complex at Ras Laffan. But there is a long list of other potential export projects around the world, from the Russian Arctic to East Africa.

The extraordinary growth of shale output means that, by 2025, one in every four cubic metres of gas produced worldwide is projected to come from the United States. With a large number of proposed LNG export projects, the United States is likely to become a cost benchmark for a diverse set of countries looking to expand or announce their presence in international gas markets. International gas supply in the past has been quite concentrated, dominated by a major pipeline exporter (Russia) and a single giant of LNG (Qatar). Supply in the future looks increasingly diverse and competitive, with LNG taking an increasing share of long-distance trade.

LNG is changing the business of trading gas …
The ramp up of new destination-flexible, hub-priced LNG supplies coming out of the United States is providing a catalyst for change in the global gas market. For decades, international gas trade (both pipeline gas and LNG) was dominated by point-to-point deliveries of gas sold under long-term oil-indexed contracts between integrated gas suppliers and monopoly utility buyers.

This model has been under pressure for some time and is now changing quickly, with a host of new market players positioning themselves between buyers and sellers. Larger portfolio players in particular are growing in importance, contracting capacity at liquefaction and regasification terminals around the world, to service a diverse range of offtake contracts across multiple markets. Smaller independents and trading houses are also emerging, taking open positions in the market, buying and selling single cargoes to take advantage of arbitrage opportunities.

European and Asian utilities have meanwhile developed their own trading capabilities, evolving away from their traditional role as passive off-takers. This expanding middle ground between buyers and sellers has helped to underpin the growth of spot LNG sales, allowing for the re-selling, swapping or redirecting of cargoes, utilising a wide variety of short- and long-term contracts.

Source : Strategic Research Institute
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Germany imported 9.7pct more gas in 2018, value up by 23.4 pct

Reuters reported that Germany imported 9.7 percent more gas in 2018 than the year before and raised its import bill by 23.4 percent. The volume of imports from January through to December was 4.45 million Terajoules (TJ) or 126 billion cubic metres, according to trade statistics office BAFA, which releases data with a time lag.

German importers paid EUR 23.7 billion for gas in the year, mirroring a rise in oil prices. Traders of gas, power and carbon watch winter gas imports especially as possible imbalances in supply and demand can drive up prices and volumes in all three markets.

Europe's biggest economy uses gas for industry, heating homes and power generation.

Germany's gas supply is mainly imported from Russia, Norway, the Netherlands, Britain and Denmark via pipelines.

Europe on the whole is increasingly absorbing volumes of liquefied natural gas (LNG) arriving on specialised vessels from the world market, namely the US, a trend which has boosted storage levels and pushed down price spreads.

Source : Reuters
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US Anadarko closes in on final Mozambique LNG decision with another supply deal

Reuters reported that US independent energy producer Anadarko has notched up another long-term commitment to buy liquefied natural gas from its proposed Mozambique terminal, moving closer to approving the multi-billion dollar project. Anadarko and Exxon Mobil are expected to sanction two separate but neighbouring LNG projects in Mozambique this year after finding giant offshore gas deposits, turning the African nation into a major global gas exporter.

The company said that it had struck a sales and purchase agreement (SPA) with India's Bharat Petroleum Corporation Ltd for 1 million tonnes per annum for 15 years. The deal now gives Anadarko over 8.5 mtpa in offtake commitments from the project, a level it previously stated would allow it to take a final investment decision (FID). The initial capacity of the two-train terminal is 12.88 mtpa.

Anadarko said that it would take the FID in the first half of this year and, in an annual report it released late on Thursday, it signalled that another long-term agreement would be announced before it sanctions the project.

Other committed buyers, according to Anadarko, are Tokyo Gas and Britain's Centrica in a joint deal, Royal Dutch Shell, Chinese state energy firm CNOOC, Tohuku Electric and French utility EDF.

Source : Reuters
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Document signed with Seimens to construct LNG power plant at Payra

UNB reported that Power Division of Bangladesh and Seimens of Germany initialed a joint development agreement for the construction of a 3600MW LNG power plant at Payra in Bangladesh. The document was signed following a meeting of the Siemens CEO Mr Joe Kaeser with Prime Minister Ms Sheikh Hasina at Hotel Sheraton. CEO of North West Power Generation Company of Bangladesh Khorshed Alam and Chief Executive Officer and Global President of Siemens Joe Kaeser signed the document.

Briefing reporters after the meeting, Foreign Sectary Md SHahidul Haque said the power plant is the initial part of the Seimens plan to come to Bangladesh in a big way to invest in health, education mobility and other sectors.

Source : UNB com
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China's to build new LNG terminals in southern Guangdong province

China's cabinet said that China will build new liquefied natural gas terminals and expand the capacity of existing terminals in its Greater Bay area. Beijing wants to turn Hong Kong, Macau and nine neighbouring cities in southern Guangdong province into an economic powerhouse dubbed the Greater Bay Area.

Under new guidelines for development of the area approved by the cabinet, the aim is to build a low-carbon and efficient energy system. China will accelerate construction of large-scale oil reserve sites and consider launching a futures exchange for carbon emissions trading in Guangzhou.

Source : Reuters
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Shell ziet stijgende vraag LNG

FONDS KOERS VERSCHIL VERSCHIL % BEURS
Royal Dutch Shell - B-
28,275 -0,125 -0,44 % Euronext Amsterdam
Royal Dutch Shell - B-
£ 24,10001 -0,045 -0,19 % London Stock Exchange
Royal Dutch Shell -A-
27,595 -0,055 -0,20 % Euronext Amsterdam
Royal Dutch Shell -A-
£ 23,94001 -0,045 -0,19 % London Stock Exchange

(ABM FN-Dow Jones) Royal Dutch Shell verwacht dat de wereldwijde vraag naar vloeibaar aardgas zal stijgen van 319 miljoen ton in 2018 naar 384 miljoen ton in 2020. Dit meldde de Brits-Nederlandse energiereus maandag in zijn jaarlijkse LNG outlook.

In 2018 steeg de vraag voor LNG met 27 miljoen tot tot 319 miljoen ton. In 2000 stond de teller nog op 100 miljoen ton. De stijging wordt volgens het concern met name gedreven door de sterke vraag naar schonere brandstoffen in Azië.

Shell verwacht dat het mondiale aanbod van LNG in 2019 zal stijgen met 35 miljoen ton. Naar verwachting zullen Europa en Azië dit extra aanbod absorberen.

Op basis van de huidige vraagprognoses verwacht Shell dat de LNG-voorraden halverwege de periode 2020 - 2030 zullen verkrappen.

In China steeg de import van vloeibaar aardgas in 2018 op jaarbasis met 16 miljoen ton, wat een stijging betekende van 40 procent.

Daarnaast meldde Shell dat de export van Australische LNG tegen het einde van 2018 de export van LNG uit Qatar, de marktleider, benaderde. De export van Australische export van LNG zal naar verwachting in 2019 met 10 miljoen ton stijgen.

Beide landen zijn volgens Shell goed gepositioneerd om de zich snel ontwikkelende economieën in Azië te bevoorraden, onder andere in hun pogingen om de luchtkwaliteit in de steden te verbeteren.

Tot slot meldde de Brits-Nederlandse energiereus dat de gemiddelde termijn van de verkoopovereenkomsten is gestegen van circa 6 jaar in 2017 tot ongeveer 13 jaar in 2018, waarbij de gecontracteerde volumes ruim verdubbelden tot bijna 600 miljoen ton in 2018.

Door: ABM Financial News.
info@abmfn.nl
Redactie: +31(0)20 26 28 999

© Copyright ABM Financial News B.V. All rights reserved.
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Queensland keurt gasproject Shell goed

Gepubliceerd op 28 feb 2019 om 07:43 | Views: 1.354

Royal Dutch Shell A 16:31
27,48 -0,19 (-0,69%)

BRISBANE (AFN/BLOOMBERG) - De Australische staat Queensland heeft groen licht gegeven aan het gasproject Surat van Arrow Energy. Dat is een samenwerkingsverband van olie- en gasreus Shell en het het Chinese energiebedrijf PetroChina.

Surat is het grootste goedgekeurde project voor het winnen van LNG-gas sinds 2011 in de Australische staat. Toen werden drie LNG-exportfaciliteiten goedgekeurd. Surat wordt naar verwachting operationeel in 2020 en zal gas winnen voor zowel export als binnenlands gebruik. Surat zal verder gebruik maken van de infrastructuur van het QGC-project van Shell, dat dichtbij ligt.
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Origin Energy's APLNG project posts 45pct rise in Q2 revenue

Reuters quoted Australia's top electricity and gas retailer Origin Energy said on its stake in the Australia Pacific LNG project (APLNG) reported a 45 per cent rise in second-quarter revenue, thanks to higher oil and spot LNG prices. APLNG is a joint venture between Origin, ConocoPhillips and China Petroleum & Chemical Corp.

Origin, which controls nearly a third of Australia's energy retailing market, said revenue for the quarter ended Dec. 31 rose to AUD 740.9 million from AUD 509.8 million a year earlier. Quarterly revenue from APLNG reached a record as 32 cargoes were shipped during the period.

Source : Reuters
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