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Producción y mercados energéticos 28/02/19

Latest Energy News

28 February 2019

TOP STORY: Novatek could raise 2030 LNG production target to 70 Mt/year (Russia) Russian independent oil and gas producer Novatek is likely to review its current LNG future production plans over the next two years. The actual output forecast has been set at 57 Mt/year for 2030 but it could be ramped up to 70 Mt/year. This announcement comes as the company is quickly moving forward with its LNG projects, in particular the 16.5 Mt/year Yamal LNG and 19.8 Mt/year Arctic LNG-2 export terminals. Most of the production increase is likely to come from the conventional natural gas resources on the Yamal and Gydan peninsulas (Russia). Yamal LNG was entirely commissioned in November 2018 and the three 5.5 Mt/year trains are now operational. It has ramped up to full operational capacity since then. Novatek has also started to build a fourth LNG train rated 0..9 Mt/year at Yamal LNG to tap resources of the South-Tambeyskoye field and raise the plant’s capacity to 17.4 Mt/year. As for Arctic LNG-2, it will include three liquefaction trains of 6.6 Mt/year capacity each and the commissioning of the first one is currently set for 2023. The company’s gas production rose by 6.9% in 2018. For 2019, it expects to boost its gas production by 10% and its liquid hydrocarbons production by 2%.

Companies ExxonMobil added 4.5 Gboe to its hydrocarbon reserves in 2018 (US) Global oil and gas company ExxonMobil has provided an update of its proved reserves, which increased by 4.5 Gboe in 2018 to reach a total of 24.3 Gboe (64% of liquids). This amount is significantly higher than what was recorded a year ago, as the company added 2.7 Gboe of proved oil and gas reserves in 2017. Read more BP starts producing gas from Angelin field in Trinidad and Tobago Global oil and gas company BP has started gas production from the Angelin gas project located in the northern Columbus basin offshore Trinidad and Tobago. Its completion was delivered on schedule and within budget. The field’s output will be transported via a newly laid 21 km gas pipeline to the existing Serrette platform, which has been producing since August 2011. Once fully operational,… Read more Policy & Regulatory Colombia’s first large-scale renewable power auction will be relaunched Colombia’s first long-term renewable energy auction, which was launched in early 2019 and attracted bids totalling 1,500 MW from 27 companies, has been declared void over competition concerns. The government failed to award 23 power generation and commercialisation contracts on grounds that only a few of the participating companies would have received contracts,… Read more Infrastructure & Investments Normandie prefecture (France) clears Dieppe-Le Tréport offshore wind project French wind power project company EMDT (Eoliennes en Mer Dieppe-Le Tréport) has received the required prefectoral authorization to move forward with the 496 MW Dieppe-Le Tréport offshore wind project, to be located off Dieppe in northwestern France. Read more Ineos invests €600m to extend Forties pipeline life by 20 years (UK) Global chemicals and oil group Ineos has announced plans to invest £1bn (€1.2bn) to keep its British operations running beyond their lifetime. In particular, £500m (€600m) will be dedicated to extend the operational life of the Forties Pipeline System (FPS) by at least 20 years, into the 2040s. The funds will be allocated for the purpose of upgrading its environmental systems. Read more Dubai (UAE) starts prequalification for 900 MW solar project Emirati state-held utility Dubai Electricity & Water Authority (DEWA) has issued a tender for the development of 900 MW of solar capacity to be located within the Mohammed Bin Rashid Al Maktoum park in Dubai (United Arab Emirates). This will be the fifth phase of the project and will be commissioned in the first half of 2021. Read more India one step closer to 100% household electrification objective According to the Indian government, the «Saubhagya» electrification scheme is moving forward as planned and is expected to achieve a 100% household electrification rate by the end of March 2019. Thereafter, it will start to implement a round the clock (24X7) power supply scheme for all households. Read more GE will provide turbines for the 420 MW Nachtigal hydro project (Cameroon) Global engineering company General Electric (GE) has been awarded a US$87m contract by the project company Nachtigal Hydro Power Company (NHPC) to provide seven 60 MW Francis turbines for the 420 MW Nachtigal hydropower plant on the Sanaga river near the Nachtigal Falls (Cameroon). The project is currently under construction and the commissioning is expected for 2023. Read more