Page 8 - GLNG Week 03 2021

GLNG NRG GLNG

Block 58. Total and Apache also found oil in the please click here for NewsBase’s MEOG Monitor .
first three wells drilled within their licence area:
Maka Central-1, Sapakara West-1 and Kwask- North America: Keystone XL on the chop-
wasi-1. The partners’ next target will be the Bon- ping block
boni section of the block. The future of the planned Keystone XL pipe-
line was decided this week. New US President
If you’d like to read more about the key events shaping Joe Biden cancelled the pipeline’s presidential
the Latin American oil and gas sector then please click permit via an executive order on his first day in
here for NewsBase’s LatAmOil Monitor . office.
The sweeping executive order also contained
MEOG: H2 and climate on the agenda other measures related to protecting the envi-
While concerns about the long-term demand ronment and mitigating climate change, includ-
for oil have fallen from the headlines following ing a moratorium on leasing activities in the
the upside shock of Saudi Arabia’s decision to Arctic National Wildlife Refuge (ANWR).
cut production for February and March, gov- The move was not surprising, given that for-
ernments in the Middle East are taking steps to mer US President Barack Obama, under whom
shore up long-term energy strategies that main- Biden served as vice president, had previously
tain their relevance as other countries reduce rejected the pipeline before it was approved by
their reliance on oil and gas. outgoing President Donald Trump. In addition, New US
With regional powerhouse Riyadh announc- Biden is already moving swiftly to undo some of
ing NEOM’s highly publicised The Line ini- the Trump administration’s decisions. President Joe
tiative, the UAE and Qatar have followed by However, Keystone XL’s developer, TC
making their own statements of intent. Abu Energy, was still trying to save the project and Biden cancelled
Dhabi unveiled the Abu Dhabi Hydrogen unveiled a plan earlier this week for the pipe-
Alliance (ADHA), comprised of state oil firm line to achieve net zero greenhouse gas (GHG) the Keystone
ADNOC, investment company Mubadala and emissions if it was put into service, which was XL pipeline’s
holding firm ADQ. targeted for 2023. The company said net zero
This announcement followed the signing of a emissions would be achieved by buying renew- presidential
wide-ranging collaboration deal between Japan able energy from electricity providers, and
and the UAE to jointly explore opportunities and purchasing renewable energy credits or carbon permit via an
uses for fuel ammonia and carbon recycling with offsets where direct access to renewable power is
Tokyo looking to source supplies of blue ammo- not available. executive order
nia for use in its power sector. TC Energy also pledged that additional on his first day in
The urgency for acting on the climate front renewable sources would be developed along the
has not escaped Qatar whose NOC Qatar Petro- pipeline’s route by 2030, phasing out any poten- office.
leum launched a new sustainability strategy last tial need for renewable credits or carbon offsets.
week that aims to reduce the emissions intensity Biden has a long-term goal of putting the US
of its operations by 2030. on the path towards net zero emissions by 2050,
Meanwhile, contracting appears to be resum- and in the immediate term, he will be focused
ing in Saudi Arabia as Aramco has issued tender on driving an economic recovery following the
documents to its onshore LTA cohort for main- coronavirus (COVID-19) pandemic.
tenance and upgrade work at the vital Abqaiq TC Energy had hoped that Keystone XL’s
plant which handles up to 7mn bpd of oil. job creation potential, combined with these
The news follows the cancellation of tenders new environmental goals, would help to sway
for major expansion work at the Berri and Mar- Biden in his stance on the pipeline but was dis-
jan oilfields as well as slowing start-up at the flag- appointed on this.
ship Jafurah unconventional gas field.
If you’d like to read more about the key events shaping
If you’d like to read more about the key events the North American oil and gas sector then please click
shaping the Middle East’s oil and gas sector then here for NewsBase’s NorthAmOil Monitor .™

P8 www. NEWSBASE .com Week 03 22•January•2021