Page 20 - AsianOil Week 40

AsianOil NRG AsianOil

The developer of the other project that was proposals for the construction of a $1.2bn
approved last week has not been identified. pipeline that would pump gas from unconven-
However, the Haiphong committee said the pro- tional fields in Argentina’s Vaca Muerta forma-
ject would have a capacity of 1.6 GW, and that its tion to southern Brazil.
first phase would be operational from 2025. The Elsewhere in South America, ExxonMobil is
entire project is then due to be in service from pushing forward with work at the Stabroek block
2028. offshore Guyana. The US super-major said last
week that it had taken a final investment decision
If you’d like to read more about the key events shaping (FID) in favour of developing the Payara section
the global LNG sector then please click here for of the block after securing the Guyanese govern-
NewsBase’s GLNG Monitor. ment’s approval for its plans, which carry a price
tag of $9bn.
Golar stumbles in Brazil
Bermuda-registered Golar Power is already a If you’d like to read more about the key events shaping
player in Brazil’s LNG sector, and it has been the Latin American oil and gas sector then please click
trying to expand its footprint in that coun- here for NewsBase’s LatAmOil Monitor.
try by bidding for the right to operate an
underutilised LNG import terminal in Bahia Middle Eastern political and production
State. But the company’s ambitions appear deals come to the fore
to have been thwarted by reports of CEO As production numbers were announced for
Eduardo Antonello’s involvement in bribery September, compliance with the cartel’s out-
charges. Petrobras, the national oil com- put cut deal came into sharp focus. This has
pany (NOC) of Brazil, has declined to accept broadly improved, with surprising laggard
Golar’s offer to lease the Bahia LNG terminal, the UAE catching up by making swingeing
citing concerns about excessive risk. reductions to production during the month.
This move raises questions about Petro- However, there is little sign of compliance
bras’ plans for the facility, as Golar had been from Iraq, which saw another output increase,
the only company to submit a binding offer despite repeated promises to make compen-
for the lease contract. The NOC has revealed satory cuts.
that Compass Gas e Energia, a local firm, Iran, Libya and Venezuela all also recorded
declined to bid, and BP Energy do Brasil, a production upticks, with the Islamic Republic
subsidiary of BP (UK), has asked for more registering an additional 120,000 barrels per
time to finalise its offer. day, while exports doubled to 1.5mn bpd. Mean-
In other news, Brazilian officials are while, cartel kingpin Saudi Arabia also registered
reported to be in talks with Argentina on a a significant increase in exports as it reduced its
gas import deal. The two sides are discussing official selling prices (OSPs) to Asia.

Source: Golar LNG
website.

P20 www. NEWSBASE .com Week 40 08•October•2020