Page 16 - GLNG Week 38 2021

GLNG NEWSBASE ROUNDUP GLOBAL (NRG) GLNG

NewsBase Roundup Global (NRG)

NRG Welcome to NewsBase’s Roundup Global EurOil: Lundin Targets Climate Neutrality
(NRG), in which the reader is invited to join In 2023
our team of international editors, who provide a Sweden’s Lundin has brought forward its
snapshot of some of the key issues affecting their target for reaching carbon neutrality by two
regional beats. We hope you will like NRG's new years to 2023, the company announced on
concise format, but by clicking on the headline September 15, representing the most ambi-
link for each section the full text will be available tious climate target for an oil company of its
as before. size.
The company, whose flagship project
AfrOil: Nigeria Establishes NNPC Ltd As is the Edvard Grieg field in the Norwegian
New NOC North Sea, said the target covered Scope 1,
Nigerian President Muhammadu Buhari has 2 and 3 emissions. It plans to deliver on this
issued an order authorising the incorporation of goal with the help of natural carbon capture
Nigerian National Petroleum Corp. Ltd (NNPC projects, such as forestation initiatives, and
Ltd), in line with Section 53(1) of the recently carbon credit offtake agreements. These pro-
signed Petroleum Industry Act (PIA). This act jects have undergone due diligence and their
lays the groundwork for the new company to climate credentials have been certified.
replace an existing state-run entity, Nigerian
National Corp. (NNPC) as Nigeria’s national oil LatAmOil: BpTT Brings Matapal Field On
company (NOC). Stream Ahead Of Schedule
BP Trinidad and Tobago (bpTT), a subsidiary of
AsianOil: Strike Completes Pre-FEED At BP (UK), revealed on September 20 that it had
WA Ammonia Project begun extracting natural gas from the Matapal
Australian natural gas developer Strike Energy field offshore Trinidad and Tobago. In a state-
has completed a pre-front-end engineering and ment, bpTT said it had succeeded in bringing
design (pre-FEED) study on an ammonia and Matapal on stream seven months ahead of
urea manufacturing facility development in schedule, despite the challenges posed by the
Western Australia. global coronavirus (COVID-19) pandemic. The
Strike said on September 20 that interna- field is now ramping up to its initial production
tional oil and gas services provider Technip rate of 250-350mn cubic feet (7.08-9.91mn
Energies’ seven-month plant study had resulted cubic metres) per day of gas, it reported.
in a 6% reduction in capital estimates compared
with feasibility study estimates from January. MEOG: Iraq Moves To Capture Gas
This week’s MEOG looks at efforts by Iraq to
DMEA: Saudis In South Sudan Supply Talks capture and utilise associated gas, while its
This week’s DMEA looks at talks between state oil marketer said it is yet to receive any
Saudi Aramco and South Sudan over oil oil volumes from the Kurdistan region.
product supplies and the ongoing resump- Baker Hughes this week agreed a deal
tion of protests at Libyan oil terminals. with the Ministry of Oil to capture up to
South Sudan is expected to agree terms 200mn cubic feet (5.7mn cubic metres) per
with Saudi Aramco on the long-term sup- day of gas from the Nassiriyah and Gharraf
ply of oil derivatives following the recent oilfields in Dhi Qar Governorate.
signing of a memorandum of understand-
ing (MoU). NorthAmOil: ConocoPhillips Snaps Up
Shell’s Permian Assets
FSUOGM: Gazprom Under Fire Royal Dutch Shell has agreed to sell its port-
The widely circulated narrative in the media folio of shale assets in the US’ Permian Basin
is that Russia is to blame for record-high gas to ConocoPhillips for $9.5bn in cash.
and power prices in Europe. But in reality, the Shell’s assets cover around 225,000 net
current situation has been caused in large part acres (910.5 square km) and produce about See the archive and
by serious shortcomings in European energy 175,000 barrels of oil equivalent per day sign up to receive
policy. (boepd). The Anglo-Dutch super-major said *NRG Editor’s Picks*
Gas price futures for October at the Dutch on September 20 that after having reviewed for free by email each
TTF hub hit $950 per 1,000 cubic metres on “multiple strategies and portfolio options” week here
September 15 – an all-time high at a time of for the assets, the ConocoPhillips deal
year when markets are typically subdued. had emerged as the most compelling value
Demand is recovering and supply remains proposition.
restricted, while gas storage levels in Europe
remain low.

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