U.S. oil producers were restoring employees and restarting activities at storm-swept production plants throughout the U.S., according to Reuters. The Gulf Coast rolled right through the city on Sunday, two days after Hurricane Delta.
According to the US government reporter, Hurricane Delta combined volumes shut-in by the hurricane on Sunday which amounted to 8.79 million barrels of oil and 8.30 billion cubic feet of natural gas.
On Sunday, the coast Guard stated that the U.S. reopened the Beaumont and Port Arthur, Texas ports, including the Sabine Pass, that service large oil and liquefied natural gas production facilities.
Reuters reported that due to the effects of the COVID-19 pandemic, the International Energy Agency (IEA) has nudged up its global gas demand outlook for this year, but still sees the largest decrease on record.
IEA director, Fatih Birol said that since June, global gas demand has steadily recovered and this is due to emerging markets. The statement was made after the agency released its" Global Gas Security Review 2020. Global liquefaction capacity is projected to increase by 20 percent from currently under construction projects over the same span, he added.
He therefore cautioned against expecting a "business as usual" return, as the current crisis may have long-lasting consequences.
Reuters reported that in order to restrict emissions of methane, the European Union is proposing mandatory requirements for natural gas.
Companies, like Shell and BP, have set voluntary goals for the reduction of methane emissions, and the IEA reports that a third of these emissions could be avoided at no net cost as they could sell the captured gas.
Reuters reported that Russian gas giant Gazprom expects excess supplies in the European natural gas sector to begin in 2021.
One of the major reasons cited by the company for the gas glut is the increased U.S. LNG exports.
U.S. LNG suppliers have unbalanced and struggled to stabilize the European market.
Gazprom saw its share in the European gas market, which accounts for 55% of its sales revenue, fall in the midst of sluggish demand and competition from other suppliers, such as LNG.
Gazprom plans to export at least 170 billion cubic meters (bcm) of gas to Europe in 2020 , compared with 199 bcm in 2019.
P&GJ reported that the Abu Dhabi National Oil Company (ADNOC) has estimated that about 20% of its gas pipeline assets operated by ADNOC Gas Pipelines will be divested to the Abu Dhabi Pension Fund (ADPF) and the regional holding company ADQ.
A total of $2.1 billion in select ADNOC gas pipeline infrastructure assets will be invested by the two parties.
It was stated in the terms of the deal, ADNOC will divest 20% of ADNOC Gas Pipelines, a wholly owned ADNOC company holding 100% of ADNOC 's interest in the properties of ADNOC Gas Pipelines, to ADPF and ADQ, respectively.
Subject to customary closing conditions and all regulatory approvals, the transaction is scheduled to close later this month. ADNOC's financial advisors were Bank of America Securities, First Abu Dhabi Bank and Mizuho Securities, while Moelis & Company served as ADNOC's independent financial advisor.
Reuters reported that the oil giant BP has announced plans to begin exporting natural gas to Europe from Azerbaijan by the end of the year. BP is a shareholder in the Trans Adriatic Pipeline (TAP), which is planned to export energy to Europe from Azerbaijan's Shah Deniz offshore sector.
This will allow the Shah Deniz Consortium to finalize the final steps needed to launch Azerbaijan's 25-year supply of natural gas to buyers in Italy, Greece and Bulgaria as expected by the end of 2020.
The Southern Gas Corridor of US$40 billion will be derived from the giant Shah Deniz II field of Azerbaijan in the Caspian Sea, with European support
Reuters reported that Bulgartransgaz documents showed Bulgaria's state gas network operator, Bulgartransgaz, aims to seek binding bids from shippers by 16 January for a new gas link to transport mainly Russian gas from the TurkStream pipeline to central Europe.
The new 300-mile gas pipeline from the borders with Turkey, which stretches to Serbia from Turkey, is expected to be made by Bulgartransgaz to make a final investment decision and will spend $1.59 billion ( € 1.4 billion ) by 2020 before the results for the open season.
The shipment of gas through the Bulgarian network by five companies was of interest, and sources suggested that Gazprom, Russia, was interested in the majority of the capacity.
The Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) and Rainoil Limited have agreed on collaboration with cooking gas marketers to facilitate product distribution and use in the country.
The collaboration was carried out recently when NALPGAM House in Lagos was visited by a delegation from Rainoil.
With the launch of its 8000 metric ton storage facility in Satellite Town, Lagos, Rainoil made its entrance into the Nigerian Liquefied Petroleum Gas ( LPG) space.
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