Page 12 - GLNG Week 30

GLNG
nEWs in BRiEf
GLNG
LNG oversupplied, BP says
“In the gas markets, an easing in demand growth following the exceptional strength seen last year and continued expansion of LNG supply has led to signi cantly lower prices. e Henry Hub gas price remains
well below $3.00 per million British thermal units and spot prices in Europe and Asia are about 40% below their levels a year ago. In the absence of extreme weather conditions, LNG is expected to be oversupplied through 2019 and 2020 with gas prices expected to remain under pressure,” said BP’s Bob Dudley.
“Turning to US gas prices, which remained weak during the second quarter, with Henry Hub averaging $2.60 per million Btu compared with $3.20 in the rst quarter. e weakness in price re ects continued strong supply growth and inventory levels increasing relative to the low levels of the previous two quarters. In Europe and Asia, spot prices have reduced signi cantly as LNG supply continues to grow with demand easing, particularly in China.”
BP, july 30, 2019
AmERiCAs
FERC approves Cameron LNG start
I grant your July 22, 2019 request for Cameron LNG to commence service for liquefaction and export activities from Train 1, the associated Outside Battery Limits facilities, and the associated Regas facilities. Your request is in compliance with Environmental Conditions 12, 72, and 73 of the Commission’s June 19, 2014 Order Granting Authorization Under Section 3 of the Natural Gas Act and Issuing Certi cates (Order), in the above- referenced docket.
Based on Commission sta inspections and review of the commissioning activities for the Cameron Liquefaction Project, Cameron LNG has demonstrated that the above- mentioned facilities have been constructed
in accordance with Commission approval
and applicable standards and can be expected to operate safely as designed. Further, based on Commission sta inspections, I note that the rehabilitation and restoration of the areas a ected by the Cameron Liquefaction Project are proceeding satisfactorily.
fERC, july 26, 2019
AsiA
Guangdong LNG marks 1000th LNG delivery
e 1,000th ship carrying lique ed natural gas (LNG) to China National O shore Oil Corporation’s (CNOOC) Dapeng LNG accepting station, the Australian LNG carrier Dapeng Star, was unloaded on July 19. e station at that point became the rst in China to have handled 1,000 LNG-carrying vessels.
According to CNOOC, the station has received 67 million tons of LNG from 20 countries in Asia and Africa, as well as Australia and the United States, since it went into operation in 2006. Its imports account for 27 percent of the volume of all China’s accepting stations established in the same period and 40 percent of the company’s.
e rst LNG pilot project under the framework of China’s energy strategy, the Dapeng station guarantees a clean energy supply in Guangdong Province, contributes
to its air protection campaign and promotes energy transformation. e station supplies LNG for Shenzhen, Dongguan, Guangzhou, Foshan, Huizhou and Hong Kong. e natural gas it brings in satis es nearly 60 percent of
Guangdong Province’s needs and 37 percent of Hong Kong’s.
Coal can release the same heat, but using natural gas eliminates 224 million tons of carbon dioxide emissions, two million tons of sulfur dioxide emissions and vast quantities of smoke. e reductions equal the carbon dioxide absorptive capacity of 540 million trees of a year.
sAsAC, july 29, 2019
ENN kickstarts its digital
transformation on
VeChainThor Blockchain
China boasts a prosperous LNG market. In 2018 alone, 280 billion cubic meters of natural gas has been consumed. With China’s coal- to-gas conversion policy and a fast-growing economy, we can expect an increasing demand for LNG in the years ahead. To
better serve the enormous Chinese market, ENN Energy Holdings Limited, one of the largest energy service providers in China,
is turning to VeChain or Blockchain for optimized quality control and supply-chain management. Nationwide, ENN is operating 187 project cities that cover a connectible urban population of 94.57 million in China.
e composition, calori c value, and gasi cation rate of LNG vary depending on sources and processing, given that, to ensure quality and safety, it’s essential to keep track
of the relevant data in a timely and accurate manner. For the same reason, gas pressure changes during transportation and the time
of arrival shall also be recorded. Traditionally, the data are recorded by di erent personnel on the supply chain and transmitted through various communication tools manually, which is time-consuming and vulnerable to human errors.
at’s why the VeChain or Blockchain and IoT technology has been brought
into play. In August 2018, at the China International Gas & Heating Technology and Equipment Exhibition 2018, ENN, VeChain, a leading enterprise-level public blockchain platform, and Shanghai Gas, a state-owned company that accounts for more than 90%
of Shanghai’s total gas market, signed a strategic cooperation agreement to develop a VeChain or Blockchain-based LNG solution.
In this partnership, ENN is responsible for the design and system construction of LNG-related business scenarios. VeChain
is responsible for providing blockchain
core technology and the necessary so ware services. Shanghai Gas is the overseeing party
P12
w w w . N E W S B A S E . c o m
Week 30 01•August•2019