Up to 44,000 potential customers qualify for an Ontario subsidy program created to cover costs of natural gas service expansions, says the Canadian province’s utility regulator. The Ontario Energy Board (OEB) identified the aid candidates with a review of regional gaps in natural gas distribution networks. The inquiry generated a list of 210 eligible projects.…
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Shell to Write Down Assets for Third Time This Year
Royal Dutch Shell plc expects to write down between $3.5 billion to $4.5 billion during the fourth quarter because of impairments, asset restructuring and onerous contracts. It would be the third time this year the Anglo-Dutch supermajor has written down assets. In a fourth quarter update, Shell said it expects to take a partial impairment…
Shell Streamlines Portfolio with Minority Stake Sale in Australian LNG Facility
Royal Dutch Shell plc is simplifying its portfolio with an agreement to sell a minority interest in the Queensland Curtis liquefied natural gas (QCLNG) common facilities to Global Infrastructure Partners Australia for $2.5 billion. Shell subsidiary QGC Common Facilities Company Pty Ltd. is selling a 26.25% stake in the QCLNG facility, which includes LNG storage…
LNG Could Drive $11 Billion of Australian Natural Gas Project FIDs in 2021, Says Wood Mackenzie
As the pandemic eases and the global economy recovers, $11 billion of Australian natural gas projects could be sanctioned as soon as next year, according to a report released this month by consultancy Wood Mackenzie. The country has helped drive growth in global liquefied natural gas (LNG) supplies in recent years and exports are expected…
In Nod to Shareholders, ExxonMobil Aims to Slash GHG Emissions by Double-Digits
ExxonMobil on Monday announced more ambitious goals to reduce greenhouse gas (GHG) emissions over the next five years only a week after a group of shareholders called for an overhaul of strategic goals. The Irving, TX-based supermajor also expects to meet a 2020 forecast set two years ago to cut global methane emissions by 15%…
Reliance, BP Ramp Up First of Three Massive Natural Gas Fields Offshore India
BP plc and Reliance Industries Ltd. have ramped up production from the first of a trio of ultra-deepwater natural gas fields offshore India that could meet the country’s rapidly expanding energy needs and reduce the need for imports. The R Cluster project in Block KG D6 is about 60 kilometers (37 miles) off the east…
EIA Raises 1Q2021 Brent Forecast as OPEC-Plus Set to Curb Production
Citing a recent decision by the Organization of the Petroleum Exporting Countries and its allies (OPEC-plus) to limit production, the U.S. Energy Information Administration (EIA) on Tuesday raised its forecast for 1Q2021 Brent crude oil prices to $47/bbl, up $5 from projections issued a month earlier. The new Brent price forecast, published Tuesday in the…
Baker Hughes, Aramco to Develop Oil, Gas Products Using Nonmetallic Resources
Baker Hughes Co. and Saudi Arabia Oil Co., aka Aramco, are partnering to develop and commercialize a broad range of energy sector products using nonmetallic resources. Novel, the 50-50 joint venture (JV), was created to provide “multiple applications in the energy sector,” the partners said. Baker Hughes and Aramco last year had clinched a memorandum…
Montney Gaining on Alberta, Cruising to Become Top Canadian Natural Gas Play
Rich Montney Shale resources will let British Columbia (BC) take over from Alberta as the top Canadian natural gas producer jurisdiction within 20 years, according to two separate supply projections. Alberta falls behind BC in the latest national outlook by the Canada Energy Regulator (CER), Canada’s Energy Future 2020. The gas lead changes in both…
Total Completes World’s Largest LNG Bunkering Operation
Total SE said this week that an affiliate has completed the largest marine refueling with liquefied natural gas (LNG) ever to take place. The company said it filled the CMA CGM Jacques Saadé, a large containership, with 17,300 cubic meters of LNG at the Port of Rotterdam in the Netherlands last week, making it the…