Page 12 - GLNG Week 07 2022

GLNG NEWS IN BRIEF GLNG

module carrier AUDAX completed its voyage Qatargas operates a rolling programme of years of operations has served as a reliable
along the Northern Sea Route (NSR) long planned maintenance at its facilities. These and efficient supplier of natural gas to
after the traditional navigation season closure, shutdowns are co-ordinated with all parts of the growing Asia Pacific market, and to
to deliver a process module weighing almost our operations, shipping and customers as Australia’s East Coast gas market,” said Ryan
12,000 tonnes for Arctic LNG 2 from the part of our annual planning exercises. This Lance, ConocoPhillips chairman and chief
Chinese port of Tianjin to Murmansk. The includes our customers around the world. executive officer. “With the global energy
module will be installed on the gravity-based We inform our customers about these transition underway, we expect LNG to play
structure (GBS) for Arctic LNG 2 Train 1 at shutdowns in advance so that they can take an increasingly important role, as it is lower in
the LNG construction centre in Belokamenka. the necessary measures to offset any planned greenhouse gas emissions intensity than other
This voyage is unique in terms of a vessel downtime at Qatargas. alternatives. At the same time, this strategic
of this size passing the entire Northern Sea QATARGAS, February 18, 2022 acquisition of an additional shareholding
Route with a nuclear icebreaker support in interest in APLNG further diversifies our
February in challenging ice conditions. The product mix while lowering our aggregate
Atomflot icebreakers escorted the vessel OCEANIA decline rate.”
along the Northern Sea Route. The icebreaker ConocoPhillips’ full-year 2021 production
assistance was difficult largely due to ConocoPhillips completes from APLNG was 113,000 barrels of oil
navigation specifics during winter 2022. The equivalent per day (MBOED) and full-
current NSR navigation season saw severer purchase of additional 10% year 2021 financial distributions were
ice conditions compared to previous years approximately $750mn. The sensitivities
and the summer-fall navigation period ended shareholding interest in provided on Feb. 3, 2022, reflect the
in the beginning of November 2021, much company’s increased interest in APLNG.
earlier than in previous years. Due to the size APLNG CONOCOPHILLIPS, February 17, 2022
of AUDAX, icebreaker assistance in the route’s
most challenging sections in the Chukchi, ConocoPhillips today announced through its
East Siberian and Kara Seas involved two Australian subsidiary that it has completed the
icebreakers widening the ice channel. purchase of an additional 10% shareholding
The successful completion of the voyage interest in Australia Pacific LNG (APLNG)
testifies to the reliability of the company’s from Origin Energy for $1.645bn. After
logistics model and the possibility of year- customary closing adjustments, cash paid
round LNG deliveries via the Northern Sea for the additional interest is approximately
Route to the Asia Pacific region. $1.4bn (AU$2.0bn). The transaction resulted
NOVATEK, February 17, 2022 from the exercise of ConocoPhillips’ pre-
emption right and is funded from cash on the
company’s balance sheet.
MIDDLE EAST The ConocoPhillips subsidiary now owns
a 47.5% interest in APLNG, with Origin
Qatargas denies reports of Energy and Sinopec owning 27.5% and 25%
interests, respectively. Based on the new 47.5%
unplanned maintenance on ownership interest and a full-year average
Brent price of $78 per barrel, ConocoPhillips
LNG trains would expect approximately $1.8bn of
distributions from APLNG in 2022, with
Recent media reports speculating that roughly $0.5bn expected in the first quarter.
Qatargas may be experiencing unplanned “We are pleased to acquire this additional
shutdowns of two LNG trains are not true. stake in APLNG, which throughout its six

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