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of majors could further expand to 27% following TotalEnergies' substantial acquisition efforts in Malaysia. Deepwater and sour gas economics, infrastructure readiness and regional politics have caused widespread delays, some of which have been ongoing for over two decades. However, the emergence of CCS hubs in Malaysia and Indonesia could be a game-changer. The high carbon dioxide (CO2) content in upcoming offshore projects necessitates CCS for financing and regulatory compliance. Furthermore, both countries are exploring depleted reservoirs from mature fields as potential CO2 storage sites.
President Ilham Aliyev on gas exports to Europe: Thank you. When we signed the declaration on strategic partnership in the energy field with the President of the European Commission in July 2022, we set a specific target. It is not a formal commitment but a target to double the supply of Azerbaijani gas to Europe. We are moving towards that direction. In 2021, our supplies to Europe were more than 8 bcm. This year, it will be close to 13 bcm, only to Europe. The total supply will be 25 bcm. When we were talking about 2027, doubling the production, that means 16 bcm by end of 2027. These resources are planned to be delivered through the existing transportation network, through the Southern Gas Corridor, and its interconnectors.
China Will Continue to Increase Natural Gas Consumption Experts predict that China's natural gas consumption will grow by an average of 7.7% this year compared to last year, reaching 425bn cubic meters. Despite proportional growth in domestic gas production, it will only meet half of the required volume. It's worth noting that China's natural gas consumption has been increasing year after year: in 2023, it was 394.5bn cubic meters, up 7.6% from 2022. The country is also boosting domestic production through the development of new fields and increasing imports. In the first half of the year, China produced 123.6bn cubic meters of natural gas, 6% more than the same period last year. Imports of natural gas for January-June rose by 14.3% to 64.65mn tonnes.
9.1.1d LNG news
Russia suspected of expanding its 'ghost fleet' to LNG exports, FT reports. Buyers suspected of links to Russia are buying up dozens of vessels capable of carrying liquified natural gas (LNG), possibly signaling an expansion of its "ghost fleet" of tankers, the Financial Times (FT) reported on July 22.
Russia was close to overtaking the US as Europe’s top supplier of liquefied natural gas in July, despite efforts by the region’s politicians to block its fuel and punish Moscow for the war in Ukraine.
The outcome is not so much about higher imports from Russia as it is slumping
199 RUSSIA Country Report August 2024 www.intellinews.com