Page 14 - AsianOil Week 45 2021

AsianOil NEWSBASE ROUNDUP GLOBAL (NRG) AsianOil

This week’s top stories...

NRG Welcome to NewsBase’s Roundup Global underground storage facilities in November,” the
(NRG), in which the reader is invited to join company reported via its social media channels.
our team of international editors, who provide a
snapshot of some of the key issues affecting their GLNG: ARC strikes deal to supply gas to LNG
regional beats. We hope you will like NRG's new Canada
concise format, but by clicking on the headline ARC Resources said last week that it had struck
link for each section the full text will be available a deal to supply natural gas to a member of the
as before. LNG Canada consortium, which is building an
LNG export terminal on the British Columbia
AfrOil: ExxonMobil hopes to cut Rovuma coast. The agreement is set to take effect when
LNG costs, carbon emissions LNG Canada enters service – expected in 2025
EXXONMOBIL (US) is working to reduce the – and will see ARC supply 150mn cubic feet
carbon footprint of its Rovuma LNG project (4.2mn cubic metres) per day of gas over the long
while also cutting costs, Mozambique’s Energy term to be used as feedstock for the terminal.
Minister Max Tonela has said. Speaking at a press
conference in Maputo on November 4, Ton- LatAmOil: Argentina’s power exports will
ela stated that representatives of the US-based fund Vaca Muerta gas pipeline
super-major had outlined plans for Rovuma ARGENTINA expects to use the proceeds
LNG in a meeting with Mozambican President of electricity exports to Brazil to finance two
Filipe Nyusi. major infrastructure projects that will facilitate
the development of the Vaca Muerta shale for-
DMEA: Fertiglobe results, Aramco backing mation. News of these plans emerged after the
IN this week’s DMEA, we look at Fertiglobe’s Energy Secretariat adopted a new ruling govern-
Q3 results improvement and Saudi Aram- ing the use of export revenues.
co’s backing for an industrial chemicals spe-
cialist. The Fertiglobe joint venture between MEOG: MEOG: Cost-cutting and reshuf-
Dutch chemicals manufacturer OCI and Abu fling
Dhabi National Oil Co. (ADNOC) this week IN this week’s MEOG, we look at the ongoing
announced a 2,000% increase in Q3 net profit. talks between Iraq and Jordan to cut costs on
Meanwhile, Saudi-based Amad Chemicals Co. their planned cross-border pipeline and new
this week received a $1.3mn loan from Aramco’s appointments at the top of Yemeni oil firms.
investment arm Wa’ed to finance the company’s The governments of Iraq and Jordan remain
expansion in the Kingdom. in discussions over the development of a long-
planned cross-border oil pipeline but only if
EurOil: Shell calls time on oil refining in costs are reduced significantly, according to an
Germany update this week from Baghdad’s Ministry of
ROYAL Dutch Shell announced on November Oil. Meanwhile, Yemeni President Abd Rab-
4 it was ending oil processing at its Rheinland buh Mansur Hadi this week appointed new
refinery in Wesseling in Germany as part of its executives at two state-owned oil companies
shift to lower-carbon energy. Oil processing as fighting intensified between government
at the site will cease in 2025, and from then on and Iranian-backed militants in the oil-rich
it will produce low or zero-carbon products Ma’rib Governorate.
instead, Shell said.
NorthAmOil: Biden administration denies
FSUOGM: Gazprom starts filling European considering Line 5 shutdown
gas storage sites THE administration of US President Joe Biden
NATURAL gas prices fell on November 9 after has denied reports that it was considering shut-
Russia’s Gazprom announced it had begun fill- ting down Enbridge’s Line 5 pipeline, which is at
ing up its gas storage facilities in Europe, which the centre of a dispute with the State of Michigan.
should help ease the continent’s supply crunch. Reports had emerged that the Biden administra-
“Gazprom approved and began implementation tion was quietly studying the impact of shutting
of the plan for pumping gas into five European down Line 5.™

P14 www. NEWSBASE .com Week 45 12•November•2021