Page 19 - AsianOil Week 33

AsianOil NEWS IN BRIEF AsianOil

MISC to provide FPSO to owner to THB 674 million in Q2’2020, with Hudong, MOL continues the construction
By leveraging our close working relationship
despite unfavorable economic situation from
for deep-water Brazilian COVID-19 pandemic. Key growth drivers of the 4th LNG carrier, the last one in the series,
will be completed on schedule. With these
were 1) continued expansion of portfolio
project capacity to 3,019 MW in mid-2020, 2) new carriers, MOL will continue to work assiduously
industrial users (IUs) with total PPA of 25
to provide safe and stable LNG transportation
MISC is pleased to announce its acceptance MW in 2019 and 15 MW in 1H’2020, and 3) from the Yamal LNG plant.
of Letter of Intent (LOI) from Petrobras plant efficiency improvements. MOL, August 20, 2020
for the provision of a floating production For 2H’2020, beside the continued
storage and offloading facility (Mero 3 FPSO) synchronization of new IU clients, volume from
located offshore Rio de Janeiro in the Libra existing IUs started to show the recovery sign OCEANIA
block, Santos Basin, Brazil and operation and with 17% growth in July from monthly average
maintenance services during the charter phase in Q2’2020. Furthermore, the trend of gas price AGIG continues to provide
of Mero 3 FPSO. looks favorable to our SPP business with a
Pursuant to the LOI, the term of the charter reduction to 241 THB/mmBtu in July (8% below COVID- 19 Gas Network
is 22.5 years from the date of final acceptance Q2’2020 weighted average) while PTT projected
of the Mero 3 FPSO by Petrobras. The Mero 3 that SPP gas price per unit would continually Relief
FPSO is expected to commence operation in the decline in the rest of the year.
first half of 2024. In Q2’2020, B.Grimm LNG Limited (a 100% Multinet Gas Networks (MGN) and
MISC’s President & Group Chief Executive subsidiary of B.Grimm Power) acquired LNG Australian Gas Networks (AGN), part of
Officer, Mr. Yee Yang Chien said: “It has been a Shipper license from the Energy Regulatory the Australian Gas Infrastructure Group
two-year journey in our march towards securing Commission (ERC) for the amount of 650,000 (AGIG) are pleased to advise that we have
our first deep-water FPSO project in Brazil. This tons per year from 2022. This would support continued to extend our gas network tariff
project is close to the hearts of many, especially our cost management for electricity generation relief support for a further 6 months to small
the various teams across the Offshore Business of our gas-fired power plants which contribute energy retailers. This is following from our
division who deserve a thumbs up for all their approximately 70% of our portfolio capacity. COVID-19 Gas Network Relief Package 1,
dedication and commitment in making this day B.GRIMM POWER, August 14, 2020 which applied for the period from 1 April
a reality for the Group.” 2020 to 30 June 2020.
MISC, August 17, 2020 Our modified voluntarily Small Retailer
EAST ASIA Gas Network Relief Package 2 is effective from
Petronas appoints three LNG Carrier Named LNG 1 July to 31 December 2020 and will apply for
AGN & MGN networks across Victoria, New
new board members South Wales (NSW) and South Australia (SA).
Over the next six months we are offering a
Petronas is pleased to announce the PHECDA for Yamal LNG deferral for payment of a portion of the small
appointment of three new Board members Project retailer network tariff invoices to provide cash
with the appointments taking effect from 17 flow assistance as a result of the COVID-19
August 2020. Mitsui O.S.K. Lines (MOL) today announced pandemic.
The new Petronas Board members are Tan that on 19 August, a naming ceremony for AGIG have been working closely with the
Sri Zaharah Binti Ibrahim, Dato Hj Ibrahim Bin a LNG carrier, jointly ordered by MOL and energy bodies and stakeholders in implementing
Haji Baki and Dato’ Razali Bin Mohd Yusof. China COSCO Shipping Corporation Limited this relief package.
Tan Sri Zaharah was previously the Chief (China COSCO Shipping), was held at Eligible small energy retailers include
Judge of Malaya, and had, until recently, held the Hudong-Zhonghua Shipbuilding. GloBird Energy, Dodo Energy, Click Energy,
position of Chairperson of Prasarana Malaysia The vessel was named “LNG PHECDA” Sumo Energy, Powershop, CovaU, 1st Energy
Berhad until May 2020. after a star in the constellation Ursa Major. and Weston Energy.
Dato Hj Ibrahim is a well-respected corporate LNG PHECDA is the third of four newbuilding In addition, as part of the Australian Energy
figure and a notable legal professional with over conventional LNG Carriers for the Yamal LNG Regulator’s Statement of Expectations we will
30 years of experience in both the corporate Project announced at the end of June, 2017, waive disconnection, reconnection and daily
sector and government linked companies. and the sister vessel of the “LNG DUBHE” supply charges for any small business that ceases
Dato’ Razali is an accomplished business and “ LNG MERAK “ which were delivered in operations, until at least 31 October 2020.
professional with over 30 years of experience in November, 2019 and January, 2020 respectively AGIG, August 20, 2020
the Mining and Oil & Gas industry. at the same shipyard.
PETRONAS, August 19, 2020 MOL has been operating 13 LNG carriers Tightening WA domestic gas
built in China for other projects, and LNG
B.Grimm reports 62.5% PHECDA will become the 14th LNG carrier policy risks further onshore
built in China to join our fleet. Despite the
jump in profit COVID-19 pandemic occurring during the development
construction of LNG PHECDA, she is expected
B.Grimm Power continued to report a to be delivered from the shipyard in a timely In the most challenging market conditions
remarkable performance with a 62.5% y-on-y manner as originally planned, thanks largely facing the Western Australian economy for a
growth of net profit-owner of the parent to the help and cooperation of Hudong and generation, the WA Government’s decision
to THB 1,017 million and a 17.2%y-on-y the safety measures which have been taken to to place restrictions on the development of a
growth of Normalized Net Profit (NNP) mitigate the dangers of the pandemic. potential new energy resource runs counter to

Week 33 20•August•2020 www. NEWSBASE .com P19