Page 18 - DMEA Week 20 2021

DMEA NEWSBASE ROUNDUP GLOBAL (NRG) DMEA

NewsBase Roundup Global (NRG)

NRG WELCOME to NewsBase’s Roundup Global GLNG: Woodside to exit Kitimat LNG
(NRG), in which the reader is invited to join Australia’s Woodside Energy announced this
our team of international editors, who provide a week that it would exit its 50% non-operated
snapshot of some of the key issues affecting their interest in the proposed Kitimat LNG project
regional beats. on Canada’s West Coast.
We hope you will like NRG’s new concise for- The company will either sell or wind up and
mat, but by clicking on the headline link for each restore the assets, leases and agreements cover-
section the full text will be available as before. ing both the LNG terminal’s site in Bish Cove,
British Columbia, and the 480-km Pacific Trail
AfrOil: Nedbank goes green pipeline route.
South Africa’s Nedbank has decided to phase out
funding for fossil fuel projects as part of a wider LatAmOil: Peru LNG halts production
effort to reduce its net carbon emissions to zero The Peru LNG consortium has suspended
by 2045. The group will work towards this goal operations at its natural gas liquefaction plant
by halting funding to organisations involved in in Pampa Melchorita, citing an issue with one of
thermal coal mining by 2025 and direct funding its compressors.
for crude oil and natural gas exploration. Jeanne Phillips, a senior vice-president at
Hunt Oil, the leader of Peru LNG, confirmed
AsianOil: Indonesia’s local content push the shutdown last week and indicated that the
Indonesia’s upstream watchdog SKK Migas has consortium had taken the plant offline on or
revealed that the domestic content level in the about May 7.
country’s oil and gas projects during the first
four months of the year exceeded the govern- MEOG: Iran upbeat as export route opens
ment’s target. The regulator said that domestic It has been a busy week for Iran, which is work-
content levels reached 58% of project costs by ing to ramp up oil output as it eyes a lifting of
the end of April, compared with the govern- sanctions and increased exports.
ment’s full-year target of 57%. Talks between world powers are yet to
overcome the remaining obstacles to resume
EurOil: Neptune stung by outages the 2015 Joint Comprehensive Plan of Action
Northwest European producer Neptune Energy (JCPOA), but Iran appears to be working on the
suffered a 22% year-on-year decline in oil and assumption that these efforts will bear fruit.
gas output in the first quarter as a result of out-
ages across its portfolio. The company’s supply NorthAmOil: Gulf LNG inches forward
averaged 125,700 barrels of oil equivalent per The developers of two new LNG export projects
day in the three-month period, versus 162,100 on the US Gulf Coast have said over the past
boepd a year earlier. week that they are making progress towards
final investment decisions (FIDs) that are sched-
FSUOGM: Ukraine imposes fuel controls uled for later this year.
Ukraine’s government has introduced con- At the Citi Global Energy & Utilities Virtual
trols on retail gasoline and diesel prices in an Conference last week, Tellurian’s executive chair-
attempt to stem rising inflation, in a move that man, Charif Souki, said the company was now
has prompted harsh criticism from the industry. “just weeks” from finishing the commercialisa-
In an announcement on May 12, the govern- tion of Phase One at its Driftwood LNG terminal
ment said it had added oil products to the list of in Louisiana. Separately, NextDecade said in a
socially important goods, and that retailers now new investor presentation on its website that it
needed to declare plans to raise prices by 1% or was progressing commercial negotiations with
more to the state consumer market watchdog “multiple counterparties” to enable an FID in
some 20 days in advance. 2021 on two trains at Rio Grande LNG.™

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P18 www. NEWSBASE .com Week 20 20•May•2021