Page 17 - AsianOil Week 29 2021

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the RATCH Cogeneration Expansion Project US$5.48 per barrel LRM realised in the first The update release is attached. New
in Thailand. The order was placed through quarter but remains below historical averages. Zealand Oil & Gas announced on 25 May
Kawasaki Gas Turbine Asia Sdn. Bhd. (KGA), Singapore Weighted Average Margin (SWAM) 2021 that it has agreed to acquire interests
which is based in Kuala Lumpur, Malaysia. also improved, reaching US$6.01 per barrel in three gas producing projects located in
In the RATCH Cogeneration Expansion for the quarter, higher than the US$5.41 per Australia’s Northern Territory from Central.
Project, a 30 MW class gas engine power barrel for 1Q 2021. The LRM outperformed The transaction remains subject to satisfaction
plant will be added to a 110 MW combined- SWAM, underpinned by the lower landed of a number of conditions.
cycle power plant operated by RATCH cost of crude. Refinery production was strong, NEW ZEALAND OIL & GAS, July 23, 2021
Cogeneration Company Limited, which increasing to 1,573ML in 2Q 2021, up from
operates under parent company and major 1,419ML in the first quarter of the year. New Zealand could be
Thai power producer RATCH Group Public The Lytton Refinery is expected to return
Company Limited. to a modest RCOP EBIT profit for 2Q 2021, world’s first large-scale
The four engines ordered for the project before the benefit of the government short-
are Kawasaki’s new, 7.8 MW class KG- term support payment. This follows the producer of green hydrogen
18-T gas engines equipped with two-stage breakeven result for the first quarter.
turbocharging systems, first released on the Following the decision to continue to Contact Energy and Meridian Energy are
market in June 2020. The KG-18-T boasts operate the Lytton Refinery, announced in seeking registrations of interest to develop the
the highest electrical efficiency in its class May 2021, Ampol now expects to receive a world’s largest green hydrogen plant. The plant
worldwide (51.0%) as well as fast startup and once-off grant from the Federal Government’s has the potential to earn hundreds of millions
shutdown performance for highly flexible Temporary Refining Production Payment in export revenue and help decarbonise
operation. of approximately $40 million relating to economies both here and overseas, according
KAWASAKI HEAVY INDUSTRIES, July 14, 2021 production in 1H 2021. to a new McKinsey & Co report.1
The variable Fuel Security Service Payment Green hydrogen is regarded as the most
“K” LINE, JFE Steel sign (FSSP) announced as part of the Federal promising energy source to decarbonise sectors
such as heavy transportation and industrial
Government’s long-term Fuel Security
LNG-fueled bulk carrier Package (FSP) is expected to commence from processes that currently rely on fossil fuels. It is
produced by using renewable electricity to split
1 July 2021.
charter AMPOL, July 20, 2021 water into hydrogen and oxygen.
The McKinsey & Co report was
Kawasaki Kisen Kaisha (“K” LINE) has signed Chevron Australia CO2 commissioned by Meridian and Contact, who
a long-term consecutive voyage charter with are investigating the use of renewable energy in
JFE Steel regarding the upcoming new built injection milestone Southland to produce green hydrogen at scale,
capesize bulk carrier (210,000 DWT) fueled once the supply agreement with New Zealand
by liquified natural gas (LNG) Chevron Australia is poised to reach a Aluminium Smelters finishes at the end of 2024.
The construction of our first LNG-fueled significant milestone at its Gorgon LNG More than NZ$200 billion has already
bulk carrier will be ordered to NIHON facility, injecting five million tonnes of been committed by governments and the
SHIPYARD CO., LTD. and the vessel is greenhouse gas (carbon dioxide equivalent, private sector around the world to support
scheduled to be delivered in 1st half of CO2e) since safely starting the system in the development of hydrogen economies.
2024. The vessel is called a “next-generation August 2019. The report estimates global demand could
vessel” coping with environmental issues. The milestone represents the largest increase more than sevenfold to 553 million
It will reduce the emissions of CO2, by 25 volume of injection achieved within this time tonnes by 2050. Southland has the potential
to 30 %, SOx by almost 100%, and NOx by frame by any environmental carbon capture to be at the forefront of this growth
around 85% with the use of LNG instead of and storage (CCS) system of comparable opportunity.
conventional heavy fuel oil. Moreover, the specifications. Injecting five million tonnes of Meridian Energy Chief Executive Neal
vessel reaches more 40% of CO2 emission CO2e is equivalent to taking more than 1.6 Barclay said: “Developing a hydrogen
reduction in the Energy Efficiency Design million passenger vehicles off Australia’s roads economy based on large-scale production
Index (EEDI) which fully aligns with the for a year1. in Southland could deliver significant
reduction target of the International Maritime “This significant milestone shows how decarbonisation, economic and energy
Organization (IMO). we’re deploying technology, innovation and independence benefits for New Zealand.
“K” LINE, July 20, 2021 skills to deliver cleaner energy and reduce “Our renewable energy gives us a valuable
our carbon footprint,” Chevron Australia head start and competitive edge as markets
managing director Mark Hatfield said. for green hydrogen develop. Early, large-scale
OCEANIA CHEVRON AUSTRALIA, July 19, 2021 production will allow us to build a domestic
hydrogen supply chain and kickstart demand
Ampol provides Q2 Lytton Mereenie development well around the country.”
Economic benefits outlined in the report
refinery update WM28 commences for a 600 megawatt green hydrogen export
facility include a one-off addition of up to
Ampol today provides an update on the The operator of the Mereenie joint venture, $800 million to New Zealand’s GDP and the
performance of the Lytton Refinery for 2Q Central Petroleum has advised that WM28, creation of thousands of jobs in construction,
2021. the second development well in the Mereenie as well as up to $450 million and hundreds of
The Lytton Refiner Margin (LRM) for 2Q Development Programme, was spudded on additional jobs on an ongoing basis.
2021 was US$6.29 per barrel, higher than the July 21 at 03.30hrs. CONTACT ENERGY, July 22, 2021

Week 29 22•July•2021 www. NEWSBASE .com P17