Page 15 - MEOG Week 03 2021

MEOG NEWSBASE’S ROUNDUP GLOBAL (NRG) MEOG

NRG: LNG spikes, political

swings and new technologies

LNG prices have jumped on the back of high demand and supply bottlenecks

while governments and companies alike are repositioning for a new energy future.

GLOBAL WELCOME to the latest edition of NewsBase’s firm hopes to use a new asset as the basis for an
Roundup Global (NRG), in which our team of integrated company with global reach.
international editors provide you with a snap- TNOG Oil & Gas, established by Heirs
shot of some of the key issues affecting their Holdings and Transnational Corp. of Nigeria
regional beats. Get the NRG Oil & Gas Editor’s (Transcorp), has acquired 45% of Oil Mining Lease
Picks to your inbox every week for free. Just sign 17 (OML 17). Last week, the Nigerian company
up here. wrapped up a package of deals that allowed it to buy
In this week’s NRG our editors pick up on a stakes of 30%, 10% and 5% from affiliates of Royal
significant spike in the spot price of LNG on high Dutch Shell (UK/Netherlands), Total (France) and
seasonal demand from the cold Northern winter Eni (Italy) respectively. The package also calls for
and bottlenecks in the Panama Canal, the ripples of Schlumberger to act as TNOG Oil & Gas’ techni-
which have been particularly felt in Asia. Hydrogen cal partner and designates a trading arm of Shell as
and climate change are becoming regular features an off-taker of production from OML 17, which
in these monitors and the efforts of the UAE and is currently yielding around 27,000 barrels of oil
Qatar to adapt to new technologies in these areas equivalent per day (boepd).
is reported; technology is also at the centre of a Tony Elumelu, the chairman of Heirs Holding,
restructuring of a French-American giant. said last week that TNOG Oil & Gas hoped to use
Politics, in the guise of a change of administra- OML 17 as the basis of a larger company. “We have
tion in Washington, is bound to feature over the a very clear vision: creating Africa’s first integrated
coming months – and is seen in a congressional energy multinational, a global quality business,
vote concerning the Nord Stream 2 pipeline and uniquely focused on Africa and Africa’s energy
a likely early presidential decision on the Keystone needs,” he said.
XL pipeline. Field news from Guyana-Suriname Elumelu was speaking shortly before another
also comes into focus, as does a new initiative in Shell affiliate, Shell Nigeria Gas (SNG), signed a
Nigeria. 20-year natural gas supply agreement with a sub-
sidiary of Nigerian National Petroleum Corp.
AfrOilShifts in Shell’s Nigerian portfolio (NNPC). The deal provides for SNG to deliver
In Nigeria, Africa’s largest oil producer, a local gas to industrial consumers and manufacturing

Week 03 20•January•2021 www. NEWSBASE .com P15