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LNG

Oil & Gas

Indonesian tycoon’s firm to spend $500 million on Canada LNG

An energy company backed by Indonesian tycoon Sukanto Tanoto plans to spend $500 million this year on a long-planned liquefied natural gas (LNG) project in Canada, the clearest signal yet that it may move ahead with an LNG export facility on the country’s west coast.

Asia

Spotlight on Japanese firms after Shell exits Russian LNG

Shell said yesterday that it will exit all its oil and gas projects with Russia’s Gazprom in response to Russia’s invasion of Ukraine, including the Sakhalin-2 LNG export project, which is a crucial supplier to Japan. Significantly, Shell’s decision will now put pressure on Japanese partners, Mitsubishi, and Mitsui, to reconsider their involvement in the liquefied natural gas (LNG) project.

Asia

ExxonMobil seals crucial deal for LNG backfill project in PNG

ExxonMobil (NYSE:XOM), which operates the PNG LNG export complex in Papua New Guinea (PNG), has sealed a gas agreement with the PNG government that provides a clear framework for development of the P’nyang field to backfill existing liquefied natural gas (LNG) infrastructure. However, major development activities are unlikely to start before 2027.

Asia

Critics say Santos’ Barossa LNG should be halted until CCS scheme proven

The Institute for Energy Economics and Financial Analysis (IEEFA) believes the start of work on the Santos-led Barossa liquefied natural gas (LNG) development offshore northern Australia should be suspended as the associated carbon capture and storage (CCS) scheme, proposed by the operator, remains problematic and will not cut emissions. Otherwise the CCS project should be viewed as nothing more than ‘green washing’ and a diversion while construction continues, said IEEFA.

Asia

Inpex delays planned Abadi LNG start to 2030s

Japan’s Inpex (TYO:1605) has confirmed that it will not take a final investment decision (FID) for its proposed Abadi liquefied natural gas (LNG) development in the Masela Block offshore Indonesia until the second half of the 2020s with the aim of starting production in the early 2030s. However, questions remain around the commercial viability of the project and this also marks the latest in a series of delays for Abadi.

Oil & Gas

Shell’s Prelude FLNG to remain shut this quarter

Shell’s giant Prelude floating liquefied natural gas (FLNG) vessel offshore northwest Australia is expected to be out of operation for most of Q1, chief executive Ben Van Beurden told reporters following the company’s quarterly results.