Page 14 - GLNG Week 17 2022

GLNG NEWSBASE’S ROUNDUP GLOBAL (NRG) GLNG

NewsBase’s Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global FSUOGM: Novatek warns of Arctic LNG - 2
(NRG), in which the reader is invited to join delay
our team of international editors, who provide a Prospects for Russia’s second - biggest LNG
snapshot of some of the key issues affecting their exporter Novatek l ook in doubt, after its CEO
regional beats. We hope you will like NRG’s new Leonid Mikhelson warned at a sharehold-
concise format, but by clicking on the headline link ers’ meeting last week that the schedule for its
for each section the full text will be available as upcoming Arctic LNG - 2 project could be
before. delayed because of sanctions. Arctic LNG - 2 has
relied significantly on Western equipment and
AfrOil: Cameroon blames Western sanc- technolog y, not to mention financing to cover
tions on Russia for fuel shortages its $21bn cost.
Cameroon’s Energy Ministry is blaming Western
sanctions on Russia for the fuel shortages that GLNG: France’s GTT wins LNG tank design
have broken out around the country, according contract from SMI
to a report from Voice of America. Ministry offi- France’s GTT has won a contract from South
cials said last week that Cameroon had started Korean shipbuilder Samsung Heavy Industries
running low on fuel earlier in April because the (SMI) to design a tank for a new LNG Carrier
imposition of sanctions triggered a rise in crude (LNGC). GTT said in a statement that the carrier
prices that made imports more expensive. would have a total LNG tank capacity of 180,000
cubic metres and would be fitted with the Mark
AsianOil: Petronas, Sabah sign MoU on III Flex membrane containment system, devel-
nearshore FLNG development oped by GTT.
Petronas and Sabah Oil & Gas Development
Corp.(SOGDC) have signed a memorandum LatAmOil: Pemex under pressure to re-
of understanding on the development of a near- sume payments on maturing securities
shore floating LNG facility in the Malaysian state Mexico’s national oil company Pemex has
of Sabah in Borneo. Under the MoU, SOGDC reportedly come under more pressure from t
will support Petronas in securing all necessary he Finance Ministry to resume payments on
approvals, permits and other requirements as maturing securities, despite an earlier promise
they work to realise the project, according to from President Andres Manuel Lopez Obrador
local media. to cover the firm’s obligations until the end of
his term in 2024. Two unnamed sources with
DMEA: Petchems come to the fore for AD- knowledge of the matter told Re uters last week
NOC that the ministry had stepped up its communi-
Abu Dhabi’s state oil firm made headlines this cations with Pemex and urged the company to
week as it closed a petrochemicals deal with assume this responsibility ahead of April 21, the
India’s Reliance while moving closer to an IPO deadline for paying the holders of €1bn worth of
for its plastics venture. ADNOC’s Abu Dhabi Eurobonds issued in 2015.
Chemicals Derivatives Co. (TA’ZIZ) JV this
week formalised a shareholder agreement with MEOG: Syrian hopes and Iranian progress
Reliance Industries Ltd (RIL) for the TA’ZIZ This week’s MEOG looks at optimism about post
EDC & PVC project to be located in Ruwais. - sanctions Syria and Iran ’s continued efforts to
Meanwhile, reports emerged that ADNOC and expand upstream capacity. UK - based Gulf-
Borealis intend to achieve a valuation of $20bn sands Petroleum remains optimistic about the
for their Borouge plastics JV in the hope of potential for Syria to reinvigorate its oil sector
receiving $2bn for a 10% stake when they launch following its ravaging by 11 years of civil con-
an initial public offering later this year. flict and sanctions that continue to prevent the l
egal resumption of operations. Meanwhile, Iran
EurOil: Netherlands to receive floating LNG has announced progress on more oilfield expan-
plant in early August sion projects this week as it continues to work to
A floating LNG plant is expected to arrive at increase production capabilities.
Eemshaven port in the Netherlands’ Groningen
Province in early August, helping the country and NorthAmOil: CNOOC confirms end to
the wider region overcome their dependence on Flemish Pass Basin exploration
R ussian gas. The Netherlands was formerly a net China National Offshore Oil Corp. (CNOOC)
exporter of natural gas, and swung to becoming has confirmed to Canadian media that it is exit-
an importer in 2018 as a result of the continued ing the Flemish Pass Basin offshore Newfound-
phase - out of production at the giant Groningen land and Labrador. The Chinese company’s exit
field. follows an unsuccessful drilling campaign in the
basin.

P14 www. NEWSBASE .com Week 17 29•April•2022