Page 6 - AfrOil Week 48 2020

AfrOil NEWSBASE’S ROUNDUP GLOBAL (NRG) AfrOil

NRG: As OPEC meets, life goes on

Uncertainty about the future of production agreements is having an effect on crude oil prices

COMMENTARY WELCOME to the latest edition of NewsBase’s thousands of jobs and help to unlock East Afri-
Roundup Global (NRG), in which our team of ca’s potential.
international editors provide you with a snap-
shot of some of the key issues affecting their Asia: Egco seeks Thai LNG import licence
regional beats. Get the NRG Oil & Gas Editor’s Thai power utility Electricity Generating (Egco)
Picks to your inbox every week for free. Just sign has applied to the Energy Regulatory Commis-
up here. sion (ERC) for an LNG import licence.
The oil market’s eyes are naturally on this The company applied earlier this month for
week’s OPEC+ talks, which are inevitably hav- permission to import 250,000 tonnes per year
ing an impact on prices. But meanwhile, devel- (tpy) to feed three gas-fired thermal power
opments continue across all of our regions. plants (TPPs), company president Thepparat
LNG makes its mark in several ways. Both Theppitak told the Bangkok Post on November
Thailand and Ghana have their eyes on major 30. The plants include the 256-MW Banpong
initiatives which have the benefit of support- TPP in Ratchaburi, the 121-MW Klongluang
ing “a greener, more efficient energy economy” TPP in Pathum Thani and the 120-MW Egco
and will help them meet increasingly important TPP in Rayong.
international standards. Theppitak said the company intended to
Supply aspects are also significant, as are import LNG via a mix of long and short-term
resource-sharing deals. International climate contracts to offset the risks posed by volatile
goals are becoming a familiar factor in energy pricing. The company may work with other LNG
decisions, and an example of this is seen in importers to combine their supply contracts.
Spain’s Repsol investment plans. Despite the country producing gas from fields
Our editors are watching major surveys that in the Gulf of Thailand, as well as importing it by
are progressing in Guyana and the UAE, and in pipeline from neighbouring Myanmar, declining
this week’s NRG they highlight the East African output is driving the country to rely increasingly
Crude Oil Pipeline (EACOP), which may create on LNG to sustain its rising fuel demand.

P6 www. NEWSBASE .com Week 48 02•December•2020