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Producción y mercados energéticos 18/03/19

Latest Energy News

18 March 2019

TOP STORY: US natural gas production rose by 11% in 2018 According to the US Energy Information Administration (EIA), the US natural gas production reached new highs in 2018, increasing by 11%. Gas production measured as marketed production and dry natural gas production have also reached new highs. As expected, gas exports also increased by 14% to 102 bcm, with LNG exports surging by 53%. The United States continued to be a net gas exporter in 2018, as in 2017 when the country exported more gas than it imported for the first time in nearly 60 years. The EIA foresees that the US will start exporting more energy products than it imports by 2020. The country has been a net exporter of coal and coke for the last decades, became a net gas exporter in 2017 and should start exporting more crude oil and petroleum products than it imports by the final quarter of 2020. The US has been importing more energy than they import on an annual basis since 1953, when volumes were much smaller.

Companies Petrobras (Brazil) will divest US$10bn by late April 2019 Petrobras plans to have divested US$10bn in the first four months of 2019. The target will depend on the potential sale of the Transportadora Associada de Gás (TAG) pipeline network by April 2019, a transaction worth US$8bn. This is part of the company’s asset divestment programme, which is will entail more mature and shallow waters oil and gas fields for the upstream part. Read more GPSC (PTT) acquires 69.1% stake of Glow Energy from Engie (Thailand) Global Power Synergy Company (GPSC), the power generation unit of Thailand state-owned oil and gas company PTT, has completed the acquisition of Engie’s 69.1% stake in Glow Energy for THB93bn (US$2.93bn). The remainder of Glow Energy’s share capital (30.89%) will be offered at a mandatory tender by public investors for THB40bn (US$1.26bn). Read more Policy & Regulatory Western Australia EPA withdraws GHG emissions guidelines (Australia) The Western Australia Environmental Protection Authority (EPA) has decided to withdraw its Green House Gas (GHG) emissions guidelines after consultation held with potentially impacted companies. The guidelines required major Western Australia resources projects over 100 ktCO2/year to completely offset their greenhouse gas emissions. Read more Romania requires €30bn by 2030 to revive its energy sector According to Romania’s draft energy strategy, the country needs €15bn to €30bn by 2030 to revive its ageing and outdated energy sector. Investment needs may even go further, up to additional €15bn between 2031 and 2050. The sectors in need for investment are the power generation sector, oil and gas production, mining and infrastructure. Read more Energy Markets Japanese high court dismisses request to shut Ikata-3 nuclear reactor The Yamaguchi District Court of Japan has rejected a lawsuit by residents requesting to shut down Shikoku Electric’s 890 MW Ikata-3 nuclear reactor. The reactor was shut down in the wake of the Fukushima disaster in March 2011, restarted in early August 2016 and resumed commercial operations in September 2016. Read more Eskom will cut 4 GW from South Africa power network South Africa power utility Eskom has decided to take 4,000 MW off the power grid. On 14 March, the first 800 MW unit of Kusile power plant tripped, exacerbating a shortfall of generating capacity and prompting Eskom to announce a Stage 2 (2 GW) load shedding, that changed into a Stage 3 (3 GW) and finally into a Stage 4 (4 GW) load shedding, after the loss of additional capacity,… Read more