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Producción y mercados energéticos 23/04/19

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Latest Energy News 23 April 2019
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US FERC clears Driftwood LNG and Port Arthur LNG export projects

The United States Federal Energy Regulatory Commission (FERC) has granted authorisations to site, construct and operate two LNG production and export projects, namely Tellurian’s 27.6 Mt/year Driftwood LNG export project in Louisiana and Sempra Energy’s 11 Mt/year Port Arthur LNG project in Texas.

The US$27.5bn Driftwood LNG project is expected to include 20 liquefaction units, each producing 1.38 Mt/year, along with three 235,000 m3 storage tanks and three berths for the accommodation of the LNG ships.. Tellurian’s current partners in the project are Total, GE Electric and Bechtel. The final investment decision (FID) is expected later in 2019. Construction could start at the end of 2019 and operations could start in 2023, with full operations in 2026.

The Port Arthur LNG project is developed by Sempra Energy in Jefferson County (Texas, United States) and will include two 5.5 Mt/year trains for a total capacity of 11 Mt/year. Sempra Energy selected Bechtel as the engineering, procurement, construction and commissioning (EPCC) contractor for the project in 2018. FID is expected in the first quarter of 2020 and the project could start in 2023.

Companies

ExxonMobil’s hydrocarbon reserves offshore Guyana rise to 5.5 Gboe

Global oil and gas company ExxonMobil has made an additional discovery offshore Guyana, at the Yellowtail-1 well. This is the fifth discovery in the Turbot area, and the thirteenth discovery in the Stabroek Block.

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Policy & Regulatory

South Korea sets 35% share of renewables in its energy mix by 2040

A draft revision to South Korea’s government policy sets a 35% share of renewables in the energy mix by 2040 (the previous target was to reach 20% by 2030). Renewable power currently makes up around 8% of South Korea’s primary energy consumption. The new target envisions a cut on coal-fired power generation and an increase in gas-fired power generation as well.

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Bidding price of €5.66c/kWh for Germany’s third dual solar-wind auction

The German federal energy regulator Bundesnetzagentur has published the results of the third dual bidding round for onshore wind and solar power projects. The tendered amount of 200 MW was oversubscribed, with 109 bids for a total volume of 719 MW.

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Energy Markets

Fortum and Vattenfall provide back up capacity for Swedish power grid

According to the Swedish power transmission grid operator (TSO) Svenska Kraftnät, the Scandinavian electricity utilities Vattenfall (Sweden) and Fortum (Finland) have agreed to provide a total of 110 MW of electricity back up production capacity to offset power system disruptions.

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Infrastructure & Investments

IEC (Israel) selects turbine supplier for 630 MW Orot Rabin CCGT project

Israeli state-run power group Israel Electric Corporation (IEC) has awarded a contract to the turbine provider General Electric (GE) to deploy and maintain a new gas-fired power unit at the Orot Rabin power plant in the coastal city of Hadera.

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Total Eren secures financing for 250 MW Syvash wind project in Ukraine

French independent renewable power producer (IPP) Total Eren and the Norwegian wind park developer NBT have signed financing agreements for the second phase (117 MW) of the 250 MW Syvash wind power project in the Kherson region of Ukraine. The €108m financial agreement was signed with a syndicate of development banks and funds will be allocated to the special purpose compa…

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