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Later in the week, Myanmar’s govern- has announced plans to tender contracts for
ment gave written approval to plans by three the construction of three new floating produc-
Japanese trading companies – Marubeni, tion, storage and off-loading (FPSO) vessels.
Sumitomo and Mitsui & Co. – to build an The company will use all of the new FPSOs to
LNG-to-power project. Media reported that develop the Buzios oilfield, one of its largest off-
the next steps include finalising detailed plant shore discoveries to date.
designs and negotiating on power pricing Meanwhile, the national oil regulator ANP
with a local utility, with this process antici- has reported that Royal Dutch Shell’s latest
pated to take 18-24 months. exploration campaign at the Saturno field turned
These steps forward come as Russia continues out to be a disappointment. After wrapping up
to carve out a market for its LNG exports in Asia. drilling last month, Shell concluded that the new
This week, Russia’s LNG exports to China were well contained no hydrocarbons. In response,
reported to have reached 396,000 tonnes of LNG Petrobras began talking about using an artificial
in June, compared with 340,000 tonnes arriving intelligence (AI) solution to reduce the possibil-
in the Asian country from the US. ity of dry holes.
Meanwhile, an LNG delivery from Russia In neighbouring Guyana, ExxonMobil (US)
to Japan also made the news. The ice-breaking has reportedly brought oil production levels at
Vladimir Rusanov LNG carrier departed the the offshore Liza field up to 100,000 bpd. This
Yamal LNG terminal on June 29, and made puts Guyana’s government on track to load its
its maiden call at Ohgishima, Tokyo Bay. The third 1mn-barrel cargo of crude in early August,
vessel became the first ice-breaking LNG car- according to Mark Bynoe, the head of the coun-
rier to arrive in Japan using the Northern Sea try’s energy department.
Route (NSR). Further west, a subsidiary of Colombia’s nat-
And news of a potential long-term deal – a ural gas transportation and distribution concern
rarity in the current market – also emerged in Promigas has paid nearly $5bn for a 100% stake
the past week. Industry sources told Reuters that in Peru’s Gascomprimido (Gascop). The deal
China’s Sinopec was seeking LNG for delivery will allow the former company to expand its
over a 10-year period as it sought to take advan- operations in Peru.
tage of intense competition among sellers and Elsewhere in the region, Mexico’s govern-
low prices. ment appears to be preparing for its next oil
hedge. The Finance Ministry has reportedly
If you’d like to read more about the key events shaping asked US lenders to submit quotes for the
the global LNG sector then please click here for yearly risk management programme, which
NewsBase’s GLNG Monitor. helped it weather the crash in crude prices
earlier this year.
Latin America: Brazil offshore
In Latin America, Brazil continues to focus on If you’d like to read more about the key events shaping
the development of its offshore oil resources. the Latin American oil and gas sector then please click
Petrobras, the state-owned oil and gas operator, here for NewsBase’s LatAmOil Monitor.

Week 30 30•July•2020 www. NEWSBASE .com P17