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Liquefied Natural Gas

Oil Search says PNG could double its LNG production in near future

PNG is on the threshold of substantial new investment that could double its LNG production in the coming years, according to the country’s leading petroleum company. Oil Search managing director, Peter Botten, made this forecast whilst advocating major new infrastructure must be developed in a responsible and sustainable way. Speaking at the PNG Petroleum and Energy Summit in Port Moresby, Mr Botten said the global LNG market is highly competitive

Study forecasts a boost in Asia Pacific oil and gas investments

CONFIDENCE in the outlook for Asia Pacific’s oil and gas industry has more than doubled in the past two years, according to new research published by DNV GL. The study found that 76% of senior oil and gas professionals in Asia Pacific are optimistic about the industry’s growth in 2019, compared with 58% in 2018 and 30% in 2017. The proportion of industry leaders who are confident in their own

Woodside takes big Scarborough step with four contract awards

WOODSIDE has awarded four contracts for front-end engineering design activities for the proposed Scarborough Project off the north west coast of Western Australia/ The contracts are for engineering activities related to the upstream development’s floating production unit, the export trunkline and the subsea umbilical risers and flowlines. Each contract includes an option to progress to execute phase activities, which is subject to, among other conditions, a positive final investment decision

Positive local boost as Woodside enters FEED for Pluto 2

WOODSIDE has awarded a contract to Bechtel (Western Australia) Pty Ltd to undertake front-end engineering design (FEED) for its 100% owned Pluto Train 2 Project. The FEED work includes activities required to finalise the costs and technical definition for the proposed second LNG train at the Pluto LNG facility. The awarded contract also includes an option for Woodside to progress to a lump sum engineering, procurement and construction contract for

Woodside to supply Europe with LNG from the US

WOODSIDE Energy Trading Singapore Pte Ltd has signed an agreement with RWE Supply & Trading GmbH for the mid-term supply of LNG commencing in the fourth quarter of 2020 and in effect until December 2022. Woodside EVP Marketing Trading & Shipping’s Reinhardt Matisons said the LNG would be supplied on an FOB basis with the primary source being volumes Woodside has contracted from the Corpus Christi LNG Project in Texas,

Total raises cost overruns issue as it reduces Ichthys LNG stake by 4%

FRNCE’S Total has signed an agreement to divest a 4% interest in the Ichthys LNG project in Australia to operating partner INPEX for an overall consideration of US$1.6 billion. The transaction, which is subject to Australian regulatory approvals, reduces Total’s interest in the asset to 26%. “This transaction is part of our constant portfolio review to optimize our capital allocation,” said Arnaud Breuillac, President, Exploration & Production at Total. “Ichthys

South Korea’s EPIK signs on for Newcastle LNG import terminal project

SOUTH Korean company EPIK Co. Ltd has entered into a Project Development Option Agreement with the Port of Newcastle to commence preliminary works on a proposed LNG FSRU import terminal. EPIK is an LNG and floating storage and regasification unit (FSRU) project development specialist. The project, named “Newcastle LNG,” will be sited within the Port of Newcastle, optimally located to serve the New South Wales gas market where natural gas

Papua LNG JV signs agreement with PNG Government

IN a major milestone in the further development of Papua New Guinea’s LNG industry, the Total-led Papua LNG consortium has signed a Memorandum of Understanding (MOU) with the PNG Government. The Papua LNG JV is proposing to develop the massive Elk-Antelope gas discoveries to provide the base for a major expansion of PNG’s already highly successful PNG industry. Papua New Guinea’s own gas powerhouse, Oil Search Ltd (a member of

Australia set to assume title of world’s biggest exporter of LNG

AUSTRALIAN is on the cusp of taking out another globally significant title – this time as the world’s biggest exporter of Liquefied Natural Gas (LNG). With the milestone visit to Darwin tomorrow by Japanese Prime Minister, Shinzo Abe, for the official opening of the US$40 billion Ichthys LNG project, it is that Inpex-operated project that is set to drive Australia to the premier LNG export position. According to the latest

Leading oil and gas companies launch legal action against PNG Government

 A CONSORTIUM of international oil and gas companies has launched legal proceedings against the PNG Government over the proposed cancellation of one of the country’s most high-profile petroleum licences. Discussions between PNG Petroleum Minister Dr Fabian Pok and members of the PDL-10 licensees including global Spanish energy company Repsol (Operator), PNG national oil company, Kumul Petroleum, Horizon Oil and Osaka Gas, have fallen through with regard to the Minister’s notices