Page 6 - MEOG Week 08 2022

MEOG PIPELINES & TRANSPORT MEOG

Shell warns LNG market

will remain tight in 2022

GLOBAL SHELL said on February 21 it expected the integrated gas, renewables and energy solutions,
global LNG market to remain tight in 2022, after Wael Sawan, commented. “As countries develop
a 6% climb in demand last year. lower-carbon energy systems and pursue net-
In its latest LNG outlook, the oil major said zero emissions goals, focusing on cleaner forms
that growing demand in China and South Korea of gas and decarbonisation measures will help
had driven the increase in consumption last year, LNG to remain a reliable and flexible energy
with China raising its imports by 12mn tonnes source for decades to come.”
to 79mn tonnes, surpassing Japan as the world’s To avoid future price spikes, Shell said a more
largest buyer. Chinese LNG buyers signed long- strategic approach was needed to ensure that gas
term contracts for more than 20mn tonnes per supply remains reliable and flexible in the future.
year (tpy) of supply during 2021. It forecast that an LNG supply-demand gap was
Exports grew last year in spite of various out- expected to emerge in the mid-2020s, stressing
ages, including in Australia and Norway, thanks the need for extra investment to meet rising
to a surge in US deliveries of 24mn tonnes. This demand, particularly in Asia.
means the US is on track to become the world’s Global LNG demand is set to exceed 700mn
largest exporter this year. tpy by 2040, Shell said, representing a 90%
“Last year showed just how crucial gas and increase on the level in 2021. The majority of this
LNG are in providing communities around the growth – 70% – will originate in Asia, as indig-
world with energy they need as they strived to enous production in the area declines, regional
get back on track following the difficulties caused economies grow and LNG replaces higher-emis-
by the COVID-19 pandemic,” Shell’s director for sions energy sources.™

Japan plans to invest in Iranian

ports in the post-sanctions era

IRAN JAPANESE Ambassador to Tehran Kazutoshi “We hope that with the lifting of sanctions,
Aikawa visited Iran’s southern port of Shahid maritime exchange and joint cooperation
Rajaee to explore areas of mutual interest for between Japanese private companies will resume
future cooperation, the Iranian Ports and Mar- at Shahid Rajai Port,” Aikawa was quoted as say-
itime Organization (PMO) portal said on Feb- ing by the official IRNA outlet.
ruary 22. He added, “Strengthening and expanding
Japan like other countries has halted all trade trade relations with Iran is very important for us,
with Iran following imposing a fresh round of and Shahid Rajaei port, as an important port in
sanctions by the US under former President the region, can play an important role in devel-
Donald Trump. oping trade between the two countries.”
The country was permitted by the US to keep Aikawa said Shahid Rajaee Port, given its
importing crude oil for a brief period before existing capacity, could open the way for inves-
new sanctions were implemented but ultimately tors from other countries, adding, “As the Japa-
stopped due to pressure from the White House. nese Ambassador, I will convey the benefits and
During his visit to the Hormozgan port, opportunities mentioned in this meeting to Jap-
Aikawa also met with Alireza Mohammadi anese economic officials to prepare the ground
Karaji-Ran, head of the province’s Department for further cooperation.”
of Ports and Shipping, to discuss ways to expand Mohammadi Karaji-Ran said, “More than
economic cooperation between the two coun- 80% of Iran’s transit is through this port, in addi-
tries through the port. tion to having modern container equipment,
Speaking at this meeting, the ambassador links to the national railway line, access to the
expressed his hope that with the lifting of US Bandar Abbas, the availability of land availa-
sanctions, relations between Iran and Japan will ble for industrial activities, as well as access to
return to their previous state, and Japan will be open waters and modern terminals are the most
able to invest in Iranian ports, like Shahid Rajai. important advantages of this port.”™

P6 www. NEWSBASE .com Week 08 23•February•2022