1. Natural Gas – 394 mentions
The largest Natural Gas discovery in the Black Sea , postponement of construction of Natural Gas pipelines for Louisiana LNG plant and shut down of Natural Gas production in the Gulf of Mexico were popularly discussed in August 2020 . According to an article shared by World Oil Online , an upstream industry news and analysis website , Turkey discovered the biggest Natural Gas deposit in the Black Sea . The Tuna – 1 field was discovered by the Faith drill ship located approximately 150km off the coast of Turkey . The field is estimated to hold 320 cubic meters of Natural Gas and is expected to commence production by 2023 . Discovery of the field is part of Turkey ’ s plans to find substantial energy reserves to reduce its dependence on imports , the article noted .
Oil and Gas Journal , a petroleum industry publication , further , shared an article about Natural Gas company Tellurian ’ s plans to postpone the construction of three of the four pipelines planned to supply Natural Gas to its Driftwood LNG plant in Louisiana . The decision was made under the first phase of the final investment decision ( FID ) for the plant and is expected to reduce the initial project costs by 30 %.
In other news , RonH , a Natural Gas expert , shared an article on estimates by the Bureau of Safety and Environmental Enforcement ( BSEE ) that approximately 60 % of Natural Gas production remained shut in the Gulf of Mexico in the aftermath of Hurricane Laura . Standard checks and procedures will be followed before resuming operations at the unaffected facilities , while the restart of production at the damaged platforms is expected to be postponed further , the article noted .
https ://Twitter . com / WorldOil / status / 1296855888070955014
2. Exports – 121 mentions
Mexico planning to export gas to Asia , increasing LNG exports from West African countries and Georgia LNG plant resuming cargo exports were widely discussed during the month . Chris Lenton , senior editor at Natural Gas Intelligence , shared an article about Mexico considering three locations on the coast of Pacific Ocean for exporting gas through pipelines to East Asia and Central America . Topolobampo , Salina Cruz and Ensenada are the locations through which gas could be exported , the article noted .
Further , Daniel Stemler , an LNG reporter , shared an article about Nigeria and Angola exporting 13 million tonnes ( Mt ) of LNG during the first half of 2020 . The exports are poised to increase during the second half and remain higher on a year – on – year basis . The article attributed the reasons for the growth in exports to postponement of planned maintenance programmes at producers ’ facilities and low production costs in both the countries .
In other news , LNG Global , an LNG focused digital business development company , shared an article about the Elba LNG plant exporting its first cargo . Owned by Kinder Morgan and EIG Global Energy , the plant had not exported since January owing to restrictions imposed to curb the spread of coronavirus . The cargo was loaded onto the LNG carrier Maran Gas Hector at a Georgia port , the article added .
https ://Twitter . com / lenton_chris / status / 1295364099036119040
3. Pricing – 114 mentions
The US LNG price quoted by Tellurian being much lower than other companies and the increase in prices of Asian LNG were widely discussed topics in August . According to an article shared by Stephen Stapczynski , an LNG aficionado , Tellurian systematised its Driftwood LNG project to help its equity partners provide US LNG at $ 3 . 50 per one million British Thermal Units ( Mmbtu ) FOB ( Free On Board ). In contrast , the majority of the supply contracts in Gulf Coast are currently set at $ 5 . 50 per Mmbtu , the article added .
In other news , Saul K , the head of oil and gas research at Credit Suisse , shared an article about the Asian LNG prices reaching new highs over the last several months . In the third week of August , the LNG price for delivery into Asia LNG for October was estimated at approximately $ 4 . 1 per Mmbtu , which was an increase of 40 cents compared to the previous week . The cargo prices for September delivery were estimated to be between $ 3 . 9 and $ 4 per Mmbtu . The arrival of more cargoes from the US to Asia and cancellation of planned maintenance works at Gorgon gas project in Australia are expected to further influence prices , the article noted .
https ://Twitter . com / SStapczynski / status / 1291159318558113792
4. US LNG – 90 mentions
The LNG contracts ratified during the coronavirus pandemic and the forecast about US LNG cargo cancellations in October were some of the topics discussed during the month . Susan Sakmar , an LNG author , tweeted about statistics related to the LNG sales and purchase agreements ( SPAs ) made during 2020 in the US . A total of 24 SPAs , comprising 13 bilateral SPAs and eleven tenders , were signed during 2020 for 24 million tonnes per year ( MMt / y ). The average duration of each contract is ten years and the average size is 1MMt / y . Producers from Asia Pacific , Atlantic Basin and Middle East will supply half of the LNG under the SPAs .
Further , William Dawson , a gas and LNG advisor , shared an article on how the cancellation of LNG cargoes from the US will be the lowest in October compared to the previous months . The LNG cargo cancellations in October are expected to be between three and ten , while the September cancellations are projected to be 25 . Buyers had cancelled approximately 40 to 45 LNG shipments in July and August . The hike in spot prices of LNG in Asia and Europe and the expected rise in demand for gas in winter are considered to be the reasons behind the decrease in cancellations , the article noted .
https ://Twitter . com / SusanSakmar / status / 1291404586289451009
5. Tankers – 82 mentions
The supply of equipment for tankers being developed by a Swedish company and Sumitimo Heavy Industries ( Sumitimo ) receiving conditional approval for construction of a mid – sized tanker were popularly discussed topics during August . According to an article shared by Clean Energy , an offshore energy news provider , Tarbit , a Swedish shipping company contracted Gloryholder , a Chinese engineering company , to deliver LNG fuel system for two of its chemical and product tankers . Gloryholder will design and manufacture LNG fuel system with inbuilt tank connection space and other features , the article noted .
In other news , Svetlana Modeva , a maritime news editor , shared an article about Sumitomo being granted Approval in Principle ( AiP ), by UK ’ s Lloyd ’ s Register , a maritime classification society , to build a medium – sized tanker . The tanker will use high – pressure LNG dual – fuel system to reduce pollution and exceed the level of Phase 3 of Energy Efficiency Design Index (Eedi ) mandated for international trade ships , the article noted .
https ://Twitter . com / LNGWN / status / 1293454301143195648