European gas storage is full

European gas storage is full and Equinor has highlighted three potential catalysts that could provide short term relief for the current super low European gas prices A delay to Nord Stream 2 due to sanctions The lack of a transit agreement with Ukraine A colder than expected winter The Nord Stream 2 project was expected to come onstream on 1 January 2020. However with ongoing concerns that the EU's reliance on Russian gas continues to grow...

Read More

Cameron LNG Commences Commercial Operations For Train 1 Of Liquefaction-Export Project

Cameron LNG to Start Recognizing Revenues from Train 1 Sempra Energy's Share of Full-Year Run-Rate Earnings from the First Three Trains are Projected to be Between $400 Million and $450 Million Annually Press release as follows: Sempra LNG, a Sempra Energy subsidiary, today announced that Cameron LNG's first train of the liquefaction-export project in Hackberry, Loiusiana, has begun commercial operations under Cameron LNG's tolling agreements. "This...

Read More

PNG seeks to renegotiate Papua LNG

The PNG Minister for Petroleum issues the below release on re-opening the Papua LNG terms for negotiation. PRESS RELEASE STATE TEAM HEADING OUT TO RE-NEGOTIATE WITH TOTAL The National Executive Council has authorized a State Negotiating Team (SNT) lead by the Minister for Petroleum, Kerenga Kua, to head off to Singapore to seek to re-negotiate the terms of the Papua LNG Gas Agreement previously signed on 19 April 2019. The SNT left today 15 August for Singapore. The Papua Gas Agreement was signed by the previous O'Neill led Government inside...

Read More

European TTF breaks through historical boundaries

S&P has highlighted in its recent webinar that the European TTF price has historically traded within a range but that recent gas pricing dynamics has seen it break out of this range. TTF has historically been bound by the JKM price as a ceiling (spot LNG price in Asia) and the coal switching price as a floor. In a tight gas market, TTF traded closer to the JKM price to incentivise LNG supplies into Europe In a loose gas market, TTF traded...

Read More

Warwick duster in the West of Shetlands

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, provides an update in relation to the 205/26b-13Z ("Warwick Deep") well. Following completion of drill stem testing of the Warwick Deep well, the decision has been made to plug and abandon the well. The Warwick Deep well was drilled to a total depth of 1,964m TVDSS and included a 712m horizontal section of fractured...

Read More

Guyana's upcoming drilling

Tullow and its partners have upcoming drilling in Guyana over the summer over two blocks. The blocks are: Orinduik: Tullow (60% operator), Total (25%), Eco Atlantic (15%) Kanuku: Repsol (37.5% operator), Tullow (37.5%), Total (25%) In August, the Stena Forth drill ship will arrive on Orinduik for a two well campaign to drill the Jethro and Joe prospects. In October, Repsol is scheduled to drill the Carapa prospect on Kunuku. Guyana remains...

Read More

Zama resource increase

Talos and Premier Oil have announced the successful appraisal of Zama in Block 7 offshore Mexico under the Zama-3 well. Premier has indicated a P90-P10 resource range of 670-970mmboe with P50 of 810mmboe. This further reaffirms the resource base and provides an upgrade to the previous 600mmbbl (oil) estimate. The Zama-3 well follows: The initial Zama-1 discovery in 2017 Zama-2 appraisal in January 2019 Zama-2ST1 sidetrack well in April 2019 Zama-3...

Read More