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Producción y mercados energéticos 06/02/19

Latest Energy News

06 February 2019

TOP STORY: Gas production rose to 12 bcm at Zohr offshore gas field (Egypt) in 2018 According to a progress report unveiled by the Russian oil and gas company Rosneft, the Zohr giant offshore field in Egypt produced 12.2 bcm of natural gas in 2018. The asset’s output has been ramping up quickly and increased almost fourfold in the second half of the year. The field’s development is currently going ahead of schedule and by the end of 2019, it is expected to deliver 76 mcm/d (27.7 bcm/year). Once reached, this level will enable the country to save an estimated US$1bn/year in gas imports and achieve self-sufficiency for natural gas. The gas field was discovered by Eni in August 2015 and came onstream in December 2017. Its estimated gas reserves exceed 850 bcm. The project is included in the Shorouk concession, operated by Eni through its subsidiary IEOC (50% stake), in partnership with Rosneft (30%), BP (10%) and Mubadala Petroleum (10%).

Companies Japan’s joint venture JERA considers IPO JERA, the Japanese fuel buying joint venture (JV) of power utilities TEPCO and Chubu Electric, is currently considering an initial public offering (IPO) as a strategic option for the future. The company intends to become an autonomous and global energy company with presence in the whole energy value chain including fuel procurement, power generation and wholesales of electricity and gas. Read more Policy & Regulatory Mexico power grid regulator Cenace cancels renewable energy auction The Mexican power grid regulator Cenace (Centro Nacional de Control de Energía) has cancelled the country’s fourth renewable energy auction (Cuarta Subasta de Largo Plazo) at the request of Mexico’s Department of Energy (SENER) due to the legal issues along with technical, economic and energy planning considerations. Read more Argentina and the EU end dispute over biodiesel exports According to the Argentine Ministry of Foreign Affairs, the country has reached an agreement with the European Union (EU) to end a long-running trade dispute over imports of Argentine biodiesel into Europe. The Argentine Chamber of Biofuels (CARBIO) offered a price and volume commitment to allow the restart of exports. Read more Energy Markets Wind capacity installations in the Americas rose by 12% in 2018 According to the Global Energy Wind Council (GWEC), the installed wind power capacity in the Americas rose by 12% in 2018 and reached approximately 135 GW. More specifically, new capacity additions increased by 10.8% in North America and by 18.7% in Latin America (i.e. Central and South America). Read more Mozambique LNG signs LNG contracts with Shell, Centrica and Tokyo Gas US-based oil and gas company Anadarko Petroleum has signed two sales and purchase agreements (SPAs) for 4.6 Mt/year of LNG from its Mozambique LNG project. The global oil and gas producer Shell will buy 2 Mt/year of LNG over a 13-year period, while Tokyo Gas and Centrica will buy 2.6 Mt/year from the start-up of production until the early 2040s on the other hand.. Read more Infrastructure & Investments Indian state of Tamil Nadu targets 9 GW of solar power capacity by 2023 The government of Tamil Nadu (India) has issued the Tamil Nadu Solar Energy Policy 2019, a new document according to which it aims to reach 9,000 MW of solar power capacity by 2023. The state currently had approximately 2,200 MW of solar energy installed capacity at the end of 2018 and will need to install an additional 6,800 MW. Read more Germany’s TSOs publish draft version of power grid development for 2030 The four German transmission system operators (TSOs), i.e. Amprion, TenneT, 50Hertz and TransnetBW, have released plans for a four-week public consultation outlining future spending on onshore power transmission lines by 2030. Read more Kepco plans to build new 1 GW coal-fired project in the Philippines South Korean power producer Korea Electric Power Corporation (Kepco) is considering developing a 1,000 MW ultra supercritical (USC) coal-fired power plant in Sual, in the Philippine province of Pangasinan, through its local subsidiary Kepco Philippines Corporation (Kephilco). Estimated to be built at a total cost of US$1.8bn,… Read more