Page 12 - AsianOil Week 10

AsianOil
NEWS IN BRIEF
AsianOil
SOUTHEAST ASIA
Udennacompletes
acquisition of Chevron’s
45% Malampaya stake
Udenna, through its wholly owned subsidiary, UC Malampaya Philippines, is pleased to announce its complete acquisition of Chevron Malampaya, which holds a 45% non- operating interest in Service Contract 38 in the Philippines, also known as the Malampaya natural gas project.
This strategic move enables Udenna to become a joint venture partner in an energy asset of national significance. For over two decades, Malampaya has been the cornerstone of the country’s gas industry and continues
to service approximately 30% of the national demand for electricity. Since it began commercial operations in 2001, the Malampaya project has produced cleaner-burning natural gas which supplies five power plants in Luzon, the country’s largest island, with a combined capacity of 3,200 megawatts.
Malampaya is benefiting the country in countless ways, including reducing oil imports, ensuring a more stable supply of cleaner energy from an indigenous resource and helping meet the country’s energy requirements.
Dennis A. Uy, CEO and Chairman of Udenna said “We see immense potential in natural gas, the fuel of the future, and we are optimistic and excited to bring its full benefits to Filipinos. Taking a long view, this new milestone moves us closer to Udenna’s vision of being an indispensable partner in nation building.” UDENNA, March 11, 2020
Pavilion, SLNG sign first
mid-termagreementforLNG
storage, reload
Pavilion Energy Pte Ltd and Singapore LNG Corporation Pte Ltd (SLNG) have further strengthened their cooperation through
the signing of a five-year agreement for Liquefied Natural Gas (LNG) Storage and Reload Services at the SLNG Terminal on Jurong Island. This is the first of such an agreement signed for a term longer than two years, following a competitive bid process.
Under the agreement, Pavilion Energy will have access to tank capacity of 180,000 m3 on a segregated basis at the SLNG Terminal over the next five years. Such capacity will support a higher volume of LNG trading activities, including LNG breakbulk and vessel cool-down services. The contract’s longer tenure allows Pavilion Energy greater flexibility in managing its LNG portfolio, market fluctuations and demand dynamics.
“Pavilion Energy is pleased to renew the partnership with SLNG. Tank capacity in Singapore presents greater opportunities for LNG optimisation and trading in the Asia-Pacific Basin. It complements well our LNG/gas trading activities in the Atlantic Basin,” said Mr Frédéric H. Barnaud,
Group CEO of Pavilion Energy, “Pavilion Energy has held true to our commitment to facilitate wide access to the SLNG Terminal, contributing to the vibrancy of Singapore’s LNG market.”
PAVILION ENERGY, March 10, 2020
First Gen unit seeks DOE
nodtobuildLNGterminalin
May
FGEN LNG is seeking the Department of Energy’s (DOE) approval to allow it to start the construction of its planned liquefied natural gas (LNG) terminal.
The wholly owned subsidiary of Lopez-led First Gen Corp. (First Gen) filed Thursday an application for a Permit to Construct, Expand, Rehabilitate and Modify (PCERM) an Interim Offshore LNG Terminal within the First Gen Clean Energy Complex in Batangas City.
The permit, when issued, will allow the company to modify an existing liquid fuel jetty that will enable it to become multiple-use, allowing the receipt of large and small-scale LNG vessels, as well as liquid fuel vessels, and build an adjunct onshore gas receiving facility.
“FGEN LNG anticipates that, if the PCERM is granted by the DOE, it will be able to commence construction as early as May of this year, in order to be able to receive LNG as early as the third quarter of 2022,” it said.
The plan is to modify First Gen’s existing jetty to enable LNG to be brought in via a floating storage and regasification unit (FSRU) on an interim basis and, thus, accelerate FGEN LNG’s ability to introduce LNG to the Philippines. FGEN, March 6, 2020
EAST ASIA
Kaztransgas, PetroChina discuss gas supplies
Kazakh natural gas exporter Kaztransgas said on March 7 that it is discussing further gas supplies with PetroChina after the Chinese firm issued a force majeure notice to suppliers of piped gas citing the coronavirus outbreak.
Kaztransgas noted gas exports to China
still remained at “agreed volumes” for now. Kazakhstan had planned to ship 10bn cubic metres of its own gas to China in 2020 on
top of transiting larger volumes of gas from Turkmenistan and Uzbekistan. The three Central Asian nations ship their gas to China via the Central Asia-China gas pipeline.
PetroChina has suspended some natural gas imports, such as liquefied natural gas (LNG) shipments and piped gas, amid the combined effect of a seasonal plunge in gas demand and the coronavirus outbreak’s downward pressure on demand.
Uzbek and Turkmen suppliers have so far made no comments on PetroChina’s move. BNE INTELLINEWS, March 7, 2020
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Week 10 12•March•2020