Page 12 - AsianOil Week 39 2021

AsianOil NEWS IN BRIEF AsianOil

Petronas to deliver carbon tons per year, and build a 266,000 cubic remains a viable method to achieve Japan’s
meter LNG berth, four 220,000 cubic meters target of a 46 percent cut in greenhouse
neutral LNG to China of LNG storage tanks and equipped with gas emissions in 2030 from 2013 levels.
gasification export facilities, the maximum
In addition, various decarbonization
Petronas LNG, a subsidiary of Petronas, has gasification capacity is 34 million cubic measures are being called for, such as
signed an agreement with China’s Shenergy meters/day, and the LNG vehicle loading initiatives around renewable energy and
Group Company Limited for the delivery capacity is 1 million tons/year. carbon offsetting. One of these initiatives
of three carbon neutral liquefied natural After the completion of the project, it is carbon neutral gas, which involves using
gas (LNG) cargoes from the Petronas LNG will be of great significance for Sinopec to natural gas as before but decarbonizing it
Complex (PLC) in Bintulu, Sarawak. realize the leap-forward development of by offsetting emissions with credits. The
The deal will see Petronas’ first delivery of natural gas, enhance the ability of natural road to decarbonization takes many forms
carbon neutral LNG to China, to Shenergy’s gas supply guarantee, and enhance the that depend greatly on the circumstances
terminals in Shanghai between October ability of natural gas peak shaving in North of every customer. As a decarbonization
2021 and March 2022. Last month, Petronas China. partner, OmeGas will provide each
shipped its first carbon neutral LNG cargo to SINOPEC, September 30, 2021 customer with optimal decarbonization
Japan. solutions from a variety of options
Petronas Vice President of LNG Horikawa Sangyo, Inpex concerning CO2 reduction measures.
Marketing & Trading, Shamsairi Ibrahim INPEX, September 30, 2021
said, “Petronas is proud to elevate our sign carbon neutral gas
15-year partnership with Shenergy that
now includes the supply of carbon neutral deal OCEANIA
LNG, reflecting our commitment in
offering decarbonised LNG solutions to the Horikawa Sangyo and Inpex jointly Montara H6 well
market. As an integrated energy player, announced they entered into a carbon
Petronas actively seeks collaborations with neutral gas sales and purchase agreement. successfully brought
buyers and end-users to achieve common Through this agreement, Horikawa Sangyo
sustainability goals.” will purchase carbon neutral gas from Inpex onstream
Commenting on the agreement, Shenergy and convert the natural gas utilized by its
Vice President, Wang Zhehong said, “As a Tomioka branch office to carbon neutral Jadestone Energy, an independent oil
long-term LNG partner and consumer, we gas. and gas production company focused
are excited to receive Petronas’ delivery of Horikawa Sangyo considers its efforts on the Asia-Pacific region, is pleased
carbon neutral LNG to China that aligns toward carbon neutrality by 2050 to be a new to announce that the Montara H6
with the country’s ambition of hitting peak option for balancing its business activities development well has been successfully
carbon dioxide emissions by 2030. This is a and the realization of a sustainable society. tied into the field facilities and
meaningful milestone for both our companies The company’s Tomioka branch office has commenced production.
in our respective endeavours to be more introduced carbon neutral gas as part of this The well delivered an initial rate, after
environmentally conscious and reducing our and will prepare to supply carbon neutral clean-up, approaching 10,000 bbls/d and
carbon footprints.” gas to customers in the future. Through following a period of well performance
Shenergy remains a major LNG buyer promoting the widespread use of carbon testing will be stabilised at around 3,000
and partner to Petronas since 2006 following neutral gas, Horikawa Sangyo will continue bbls/d, as per guidance. The Valaris
the first long-term supply agreement with its its efforts to reduce greenhouse gas emissions. 107 rig has made the short move to the
subsidiary Shanghai LNG Co., Ltd. Petronas Horikawa Sangyo will continue to actively Skua-10 and Skua-11 workover location,
sustained its position as Shenergy’s preferred contribute to the community, engage in and operations on Skua-11 have now
LNG solutions provider when both parties social activities and pursue initiatives toward commenced.
concluded another new 12-year term deal last the SDGs under the motto “contributing to Paul Blakeley, President and CEO
year. culture” in the future. commented: “The Montara H6 well is an
PETRONAS, September 30, 2021 INPEX, September 30, 2021 important milestone in our investment
strategy for the Montara assets, confirming
Inpex, OmeGas sign carbon our view of the Montara reservoir, and
EAST ASIA providing near term growth. It not
only delivers a significant increase in oil
NDRC approves Sinopec neutral gas deal production but is also a key step in our
Inpex and OmeGas jointly announced today
plan to deliver circa 20,000 boe/d towards
Longkou LNG project they entered into a carbon neutral gas sales the end of this year. Higher production
and purchase agreement. Through this
coincides with continued strength in oil
Recently, Sinopec Longkou LNG project was agreement, OmeGas will purchase carbon prices, to which we are fully exposed given
approved by the National Development and neutral gas from Inpex and convert the our unhedged position. As a result, our
Reform Commission. natural gas utilized by its headquarters and balance sheet continues to strengthen,
The project is located in the Longkou facilities to carbon neutral gas. providing the platform from which
Port Area of Yantai Port, Shandong OmeGas has been reducing CO2 to execute on further growth through
Province, with a total area of 84.5 hectares. emissions through promoting the investment in both the existing portfolio as
The first phase of the construction is to widespread use of natural gas. Replacing well as further M&A.”
build an LNG transfer capacity of 6 million coal and crude oil with natural gas JADESTONE ENERGY, September 28, 2021

P12 www. NEWSBASE .com Week 39 30•September•2021