Siemens & Total Revolutionizing Gas Liquification
Siemens Gas and Power recently teamed up with Total, a broad energy group, to advance new concepts for green LNG production. Siemens Gas and Power will conduct studies to develop a variety of possible liquefaction and power generation plant designs, which have the potential for decarbonising the production of LNG.
The studies will be focused on important areas such as reducing the environmental footprint of LNG liquefaction facilities and the associated greenhouse gas emissions, plant reliability, maintainability, regulatory compliance, and development costs. Concepts such as the use of gas turbine- and electric-driven compression trains in conjunction with proven single-mixed refrigerant and double-mixed refrigerant technologies will be explored.
The $600 billion global gas market appears currently oversupplied considering the drop on demand globally. This is happening as storage capacity is reaching the peak. Experts anticipate a further movement of prices toward the negative regions in the coming weeks. Experts warn the dwindling prices will take years to reset.
Suppliers are also continuing to ease in recent days. Orders for United States Liquified natural gas for the summer period have been cancelled in droves. Particularly, orders from countries such as Malaysia, Brunei and Norway dropped in the previous month, when global LNG export growth halted years of expansion.
It is reported that the Japanese city of Tokyo experienced a fall in gas demand fell by about 10% in April and more than 20% in May, compared with a year ago, as COVID-19 forced hotels and restaurants to shut down and factories suspended operations, the head of a local industry body said.The $600 billion global gas market appears currently oversupplied considering the drop on demand globally. This is happening as storage capacity is reaching the peak. Experts anticipate a further movement of prices toward the negative regions in the coming weeks. Experts warn the dwindling prices will take years to reset.
The newly inaugurated Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB), has declared its plan to ensure 70% Nigerian content in the Nigerian oil and gas industry.
The new governing board is charged with the implementation of the charge to the members to support the attainment of the Nigerian Content 10-Year Strategic Roadmap.
The Egyptian government has announced it is implementing an ambitious £447.3 billion investment plan to undertake at least out at least 691 green projects for the fiscal year 2020/2021. The investment is directed at the transport and energy sector. According to Energymix the Minister of Planning and Economic Development, Hala El-Said, the government plans to invest £447.3 billion in 691 green projects over the coming year. Despite the health crisis caused by the coronavirus, the government is carrying out its investment plan with £36.7 billion already committed, representing 14 per cent of the total public investment planned for the 2020/2021 fiscal year.
Svitzer will continue Egypt’s Idku LNG plant project
Under the extension, Maersk’s unit Switzer will continue to assist the Egyptian LNG-operated plant with four tugs, two mooring boats and one pilot boat.
The towage company has been operating at the 7.2 million tonnes per year LNG facility located some 50 kilometers east of Alexandria since 2005.
A joint venture consisting of Shell, Petronas, Engie, and Egypt’s two main state oil and gas companies, EGAS and EGPC is operating the terminal.
Gabon's Technology Projects to make the market competitive
Gabon’s Directorate General of Hydrocarbons and PGS have just expanded the Gabon MegaSurvey coverage, significantly increasing access to 3D seismic over the 35 blocks on offer under the ongoing 12th Offshore Licensing Round. In a very competitive market environment, Gabon is showing once again its willingness to remain attractive and engage with regional and global investors to attract capital and technology in its acreages.
GTT to design FSRU for Japanese ship-owner Mitsui OSK Lines Ltd. (MOL).
GTT has won the bid to to design a new floating storage and regasification unit (FSRU1) for Japanese ship-owner Mitsui OSK Lines Ltd. (MOL), through its collaboration with a Korean shipyard Daewoo Shipbuilding & Marine Engineering (DSME).
The FSRU with a capacity of 263,000 m3 will be fitted with the NO96
membrane cryogenic containment system, a technology developed by GTT. The vessel delivery is scheduled in 2023. It will be located in Wilhelmshaven, Germany.
China and India's Policies will influence LNG Recovery in Asia
Considering the recent COVID-19 Impact of global energy prices, experts say that the chief concern is that much of the rebound in demand depends on China and India. However, a more optimistic demand scenarios hinges on whether the Indian and Chinese economies will further implement gas-friendly policies, or whether they backslide and favor coal.