Page 9 - LatAmOil Week 22
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LatAmOil                                           NRG                                             LatAmOil












































                         LNG giant pushes ahead               of US LNG developers. Reuters reported on June
                         Even as US LNG exports decline, the backers of  1 that the amount of pipeline gas flowing to US
                         the Golden Pass LNG project, which is under  LNG export terminals was on track to fall to a
                         construction in Texas, have requested author-  nine-month low of 4.3bn cubic feet (122mn
                         isation to expand the capacity of the terminal.  cubic metres) per day as cargo cancellations kick
                         This is perhaps not surprising, considering the  in. This is anticipated to hit Cheniere Energy, the
                         project is majority-owned by Qatar Petroleum  US’ leading LNG exporter, particularly hard.
                         (QP), which is also aggressively pursuing the
                         expansion of its domestic LNG export capacity.   If you’d like to read more about the key events shaping
                         QP owns a 70% stake in Golden Pass LNG, while   the global LNG sector then please click here for
                         ExxonMobil holds the remaining 30%.  NewsBase’s GLNG Monitor.
                           The partners are seeking permission to boost
                         the capacity of Golden Pass LNG to 18.1mn  Middle Eastern moves
                         tonnes per year, from 15.6mn tpy previously.  All eyes are focused on OPEC’s next move but
                         They say the increase “does not involve any  Iran has found a way to tweak the US’ nose.
                         equipment changes or environmental permit   This week’s scheduled meeting of OPEC+
                         adjustments”, and would be achieved via “pro-  to consider an extension of the oil production
                         duction efficiencies”.               cuts agreed for May and June will be closely
                           Qatar’s push on both domestic and overseas  watched by the industry. The past two months
                         LNG development comes as other planned  have seen unprecedented volatility and, leading
                         liquefaction projects in North America and  up to this week, oil prices have fluctuated wildly;
                         elsewhere appear to be increasingly in doubt.  it is reasonably clear that much hangs on OPEC’s
                         A handful of North American developers have  meeting.
                         already postponed final investment decisions   Turkey’s moves in various areas of the Medi-
                         (FIDs) from this year until 2021, but analysts are  terranean have a familiar ring and the latest is its
                         now warning that it could be even longer before  plan to launch oil exploration in East Med under
                         any more liquefaction capacity is sanctioned.  a pact with Libyan government.
                           A number of pre-FID projects in both the US   This could be considered both a daring and
                         and Canada would be greenfield developments,  provocative initiative and it is likely that much
                         adding to their construction cost at a time when  more will be heard on this and other moves in
                         LNG prices remain low and securing financing  the coming months.
                         is increasingly challenging. The convergence of   There is mixed news from the Emirates:
                         LNG prices globally is also throwing the eco-  ADNOC was obliged to cut July crude nomi-
                         nomics of shipping the fuel over long distances  nations to meet the requirements of the OPEC+
                         into question.                       pact but there are signs of progress on bids for
                           Current trends are compounding the worries  ADNOC’s gas pipelines.



       Week 22   04•June•2020                   www. NEWSBASE .com                                              P9
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