APA concludes $4.6bn acquisition of LNG pipeline from BG in Queensland, Australia
Australian natural gas infrastructure firm APA Group has completed the acquisition of 543km of liquefied natural gas (LNG) pipeline network from British oil and gas firm BG Group for $4.6bn.
The acquisition of Queensland Curtis LNG pipeline would offer first full year EBITDA contribution of around $355m.
It connects BG’s natural gas fields to the Queensland Curtis LNG export facility in Queensland state.
Novatek finalises long-term LNG supply contract with Engie
Novatek Gas & Power, a subsidiary of Russian Novatek has signed a long-term contract with French energy firm Engie for the supply of liquefied natural gas (LNG) from Yamal LNG project.
Engie chief executive officer Gerard Mestrallet said: "The signature of this SPA is a great achievement for ENGIE and NOVATEK.
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By GlobalData"These volumes will complement and diversify Engie long term supply portfolio.
"They will allow us to address the growing LNG demand, as well as our customers concern for a reliable, environmental-friendly energy."
Statoil and SSE expand long-term gas supply deal for UK
British energy company SSE has signed a long term gas supply deal with Norwegian oil and gas producer Statoil to source about third of its required gas.
Starting from October, the deal extends for a five year period.
The original deal signed in October 2014, includes supply 0.5 billion standard cubic metres per year (bcm/y) of gas for six years.
Under the revised agreement, Statoil will increase the supply from 0.5 billion standard cubic metres per year (bcm/y) to ca. 2.5 bcm/y.
DNV GL proposes alternatives to eliminate energy wastage from gas flaring
Global technical consultant for the energy industry DNV GL has suggested alternative ways to gas flaring which can reduce energy wastage and emissions while offering revenue opportunities for the operators.
Research conducted by the agency has indicated that 140 billion m3 of natural gas, produced together with oil, is burned as wastes or ‘flared’ across thousands of oil fields globally.
The flared gas is equivalent to the total combined gas consumption of Central and South America in 2013.
DNV GL carried on its detailed case studies across Russia, US, Algeria and Vietnam, amidst varying technical, regulatory and economic conditions, to come up with the new methodology that can replace wasteful flaring.
Gazprom forms alliance with Shell, E.ON and OMV for transmission of gas from Russia to Europe
Russian-based Gazprom has signed memorandums of intent with Germany-based E.ON, Dutch oil company Shell and Austrian OMV for co-operating on projects related to gas transmission infrastructure connecting Russia with its European customers.
The alliance indicates the parties’ intention to implement a project, which will involve construction of two gas pipeline strings connecting the Russian coast with the German coast via the Baltic Sea.
Gazprom, E.ON, Shell and OMV also intend to integrate their capabilities and form a joint project company for the Nord Stream gas pipeline construction.
Williams to seek further alternatives following rejection of ETE’s $53bn takeover bid
US based energy firm Williams Companies is still seeking ‘strategic alternatives’ after rejecting a $53.1bn takeover offer from Energy Transfer Equity (ETE).
Without disclosing that the proposal came from ETE, the firm informed of receiving an unsolicited acquisition proposal at a stated per share price of $64.
Williams considers that the offer ‘significantly undervalues’ the company.
$70bn Shell-BG merger wins approval from US FTC
US Federal Trade Commission has given anti-trust regulatory clearance to Royal Dutch Shell’s proposed $70bn acquisition of UK based natural gas firm BG Group.
The deal is yet to undergo review in order to secure approvals from company shareholders and other relevant anti-trust and regulatory authorities, especially in the countries BG operates in, including the European Union, China, Australia and Brazil.
Shell and BG expects to close the deal by early next year. The deal was first disclosed in April this year.
Qatar has enough gas reserves that can last 138 years, says report
According to a report from Qatar National Bank (QNB), the country has enough gas reserves, which can be explored for 138 years at the current rate of production.
The report added that Qatar will continue to remain a dominant player in global hydrocarbon markets in the next few years.
The QNB report has been prepared based on BP’s Statistical Review of World Energy, which claims that demand for clean energy will continue to rise with Qatar playing a leading role in the LNG market.
Qatar also expects that domestic demand will continue to rise and the country is developing the $10.3bn Barzan project, which will be encouraged by major investment in infrastructure projects.
Pacific NorthWest LNG project in Canada gets green light with two conditions
Malaysian energy firm Petronas and its Asian partners have announced to move with a positive Final Investment Decision for their Pacific NorthWest LNG project.
The project, whose technical and commercial components have been satisfied, awaits two conditions for the construction to start.
Legislative Assembly of British Columbia is yet to approve the Project Development Agreement for the LNG terminal.
The second approval for the development will be received after a federal environmental assessment.
Origin Energy dismisses speculation on $19bn Australia Pacific LNG project
Australia-based Origin Energy has reassured investors about the sale and purchase agreement (SPA) with China Petrochemical (Sinopec Group) for the A$24.7bn ($19bn) LNG export project in Queensland.
The reassurance comes amid speculations that the Chinese customer is likely to defer or modify the terms of the previously-signed long term contract with the Australia Pacific LNG project.
The LNG project is a joint venture between Origin (37.5%), ConocoPhillips (37.5%), and Sinopec (25%).
Under the terms of the contract, Sinopec has agreed to purchase up to 7.6 million tonnes of gas from the project per year.
