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Shell postpones Prelude turnaround amid industrial action
PROJECTS & COMPANIES
SHELL said this week that it was postponing planned maintenance on the Prelude floating LNG (FLNG) project offshore Australia. The move came amid ongoing industrial action relat- ing to a pay dispute that has disrupted operations at the facility.
“As a result of the ongoing protected indus- trial action and inability to complete prepara- tion work, we are not able to proceed with the plannedturnaroundatthistime,”aShellspokes- person told Reuters in emailed comments.
According to the spokesperson, the turna- round will be pushed back to 2023, with specific timing depending on various factors including when the industrial action ends, weather condi- tions and contractor availability.
Protected industrial action means work stop- pages have been approved by Australia’s Fair Work Commission. In Prelude’s case, the action has resulted in the facility being shut since July, with Shell telling customers last month that it would be unable to supply scheduled LNG car- goes for the duration of the industrial action.
Shell had asked the Fair Work Commission to stop the industrial action and impose a “cooling
off period” that would have allowed it to prepare for a turnaround. However, the commission rejected the request.
The Offshore Alliance had most recently extended its work stoppages until this week, but they appear likely to be extended further still as the pay dispute remains unresolved. On August 8, the alliance said it was willing to enter media- tion with Shell.
The last cargo was exported from the 3.6mn tonne per year (tpy) Prelude facility on July 8. According to the Sydney Morning Herald, rev- enue losses relating to the strike are estimated at between AUD500mn ($355mn) and AUD1.1bn ($781mn).
The newspaper also reported that Shell had begun consultations with Australia’s National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) to deter- mine what had to be done to keep Prelude safe until the delayed maintenance could be com- pleted. A NOPSEMA spokesman told the Syd- ney Morning Herald that the regulator had told Shell it must continue to satisfactorily manage risks on Prelude.™
SOUTH ASIA
Petronet LNG: Press release
– Q1 2022-23 financial
results
During the quarter ended June 30, 2022 (current quarter), Dahej terminal processed 196 tbtu of LNG as against 194 tbtu processed during the corresponding quarter ended
June 30, 2021 and 178 tbtu processed during the previous quarter ended March 31, 2022. The overall LNG volume processed by the company in the current quarter was 208 TBTU, as against the LNG volume processed in the corresponding and previous quarters, which stood at 209 tbtu and 190 tbtu respectively.
The company has reported PBT of INR937 cr in the current quarter, as against INR851
NEWS IN BRIEF
crore in the corresponding quarter and INR984 cr in the previous quarter. The PAT of the current quarter was reported at INR701 cr as against the PAT of the corresponding and previous quarters of Rs 636 Cr and Rs 750 Cr respectively.
The company reported highest ever turnover of INR14,264 cr in the current quarter, as against INR8,598 cr in the corresponding quarter and INR11,160 cr in the previous quarter.
Due to foreign exchange volatility, the lease liability has an accounting impact of foreign exchange loss amounting to INR124 cr, as per the provisions of the relevant Indian Accounting Standards (Ind AS).
The company was able to achieve robust financial results despite high LNG prices, owing to optimization in its operation. PETRONET LNG, August 05, 2022
SOUTHEAST ASIA
Keppel: Amalgamation of wholly owned subsidiaries
Keppel wishes to announce that Alpine Engineering Service and Nusa Maritime, which are wholly owned subsidiaries of Keppel Offshore & Marine (KOM), have amalgamated pursuant to Section 215D of the Companies Act 1967, with Alpine continuing as the surviving entity. The amalgamation
was undertaken to streamline KOM’s organisational structure. The Amalgamation is effective from August 1, 2022.
The amalgamation is not expected to have any material impact on the net tangible assets per share and earnings per share of the Company for the current financial year. KEPPEL, August 12, 2022
Week 32 12•August•2022
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