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have additional benefits for local communities, such as funding new schools or fresh water supplies.“We are very happy to be
collaborating with Cheniere on this opportunity,” said Steve Hill, Executive Vice President, Shell Energy. “It is great to see
more producers offsetting their GHG emissions to meet the increasing demand for carbon-neutral LNG. Using high quality
nature-based offsets to compensate for emissions that cannot be avoided or reduced is an important step as we find more
ways to reduce emissions across the LNG value chain.” “At Cheniere, we’re focused on measuring, reducing and mitigating
emissions, and this first carbon-neutral cargo for Cheniere highlights our efforts to measure and mitigate emissions throughout
the LNG value chain,” said Anatol Feygin, EVP and Chief Commercial Officer of Cheniere. “We are thankful for our collaboration
with Shell in this effort and for our mutually beneficial commitments to improving environmental performance and maximising
the climate benefits of Cheniere’s LNG.”The transition to a low-carbon energy future requires a range of solutions across the
global energy system, from electricity generation to industry and transport. LNG plays its role by providing a readily available
source of gas for use in these sectors, bringing the benefits of being the cleanest-burning hydrocarbon, producing half the
greenhouse gas emissions and less than one-tenth of the air pollutants of coal. To decarbonise LNG, all levers will need to
be pulled. Lower-emission LNG production, methane management and using carbon capture and storage (CCS) technologies
are all different ways to lower emissions along the value chain. While these technologies develop at scale, what we can do
today is to use the best quality nature-based offsets to compensate for emissions along the LNG value chain. SOURCE :
https://www.shell.com/business-customers/trading-and-supply/trading/news-and-media-releases/
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by A$0.258/GJ on the previous assessment.There are five LNG import terminals proposed to be built in east Australia. The
2mn t/yr Port Kembla gas terminal in NSW by 2023 would be the first of a possible two built to counter the long-term decline
in gas supplies from traditional producing basins such as offshore Victoria. Beach is not involved in any LNG import project
and instead is focused on gas production in east Australia. It is planning to bring on line gas from the first of three fields in
the Otway basin offshore Victoria in the 2021-22 fiscal year to 30 June with the Geographe field, followed by the Enterprise
and Thylacine fields in 2022-23. Total development spending on the three fields is estimated at A$1bn, with gas from the
offshore Otway fields to be processed through the 205TJ/d (5.5mn m³/d) Otway gas plant.Beach is also planning to make a
final investment decision on the Trefoil gas field in the Bass basin offshore Victoria in 2022-23 with its first gas in the second
half of 2024-25. Trefoil is estimated to cost around A$500mn-A$600mn to develop. source : www.argusmedia.com
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agreement to take 7.6mn t/yr from the 9mn t/yr Australia Pacific LNG (APLNG) and PetroChina's contract for 2.25mn t/yr
from the 15.6mn t/yr Chevron-operated Gorgon LNG liquefaction project. The trade tensions could stall future Chinese
investment in Australian LNG projects, even if LNG shipments are unlikely to be impacted, industry participants said. "We
ultimately have to listen to the government's policy because we need their approval for most things," a trader at a Chinese
company said. The relationship is so negative now, "so of course most Chinese buyers will not dare to commit to new
Australian projects," he added. Trade and political tensions last year derailed talks between Australian independent Woodside
Petroleum and Chinese investors over the Scarborough gas project. The Chinese parties withdrew from negotiations to purchase
a stake in the undeveloped project in the Carnarvon basin offshore Western Australia as a result of the strained ties between
the two countries. source : www.argusmedia.com
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LAID-UP SINOKOR LNG UNIT SOLD FOR SCRAP
Sinokor Merchant Marine has agreed the demolition sale of one of its laid-up LNG carriers. Shipbrokers said the South Korean
company has achieved a price of just over $639 per ldt on the 126,530-cbm, Moss-type Caribbean Energy (ex-Gaea, built
1980). At that figure, Sinokor is selling the 30,652-ldt vessel for around $19.6m. The strong rate is believed to reflect some
3,500 tonnes of aluminium content in the ship.The LNG carrier, which is understood to have been bought by GMS, is due to
be towed to Bangladesh. But the deal involves an option to deliver the ship to a recycling centre in Gadani, Pakistan.
TradeWinds reported in April that Sinokor was in talks to sell the Caribbean Energy. At the time, brokers said the shipowner
had already received some strong offers of over $560 per ldt but said Sinokor appeared to be holding out for a higher price.
The expectation was that the 41-year-old ship would be broken up in India. But the surge in Covid-19 cases and desperate
shortage of oxygen within the country has halted demolition activities. The Caribbean Energy served a large part of its life as
the LNG Abuja working for the Nigeria LNG project. Sinokor appears to have paid $13.3m for the ship in 2016 but it has
remained laid up since it was first parked by Nigeria LNG two years earlier. The vessel is the third LNG carrier sold by Sinokor
in the last six months. The company is listed as having another nine LNG carriers laid up. source : www.tradewindsnews.com
“In 2020, the average spot charter rate for a 160,000 cubic metres LNG carrier stood at around $59,300/day, compared to
an average of around $69,300/day in 2019,” said the report. The statistics showed that 47 LNG vessels were delivered in
2020 while 40 units were ordered, compared with 62 new orders in 2019. This included two vessels of less than 50,000
cubic metres. Our photograph shows the new floating LNG terminal in operation at an island offshore the Balkan state of
Croatia.
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The orderbook at mostly Asian shipyards consisted of 147 units of 22.7 million cubic metres, including seven FSRUs at the
end of 2020. “The orderbook represented 24 percent of the existing LNG carrier fleet and 72 of the vessels on order were
scheduled for delivery in 2021,” added the report. A total of 14 vessels were also laid-up, idle or otherwise out of service at
the end of 2020. In addition, one vessel was idle, awaiting conversion. The average capacity of vessels delivered in 2020
(excluding FSRUs and ships of less than 50,000 cubic metres) amounted to 174,765 cubic metres. The total FSRU fleet
consisted of 43 units at the end of 2020. Total FSRU cargo capacity at the end of 2020 stood at around 6.4 million cubic
metres. The current orderbook comprised of seven FSRUs, five of which were scheduled for delivery in 2021.
Global regasification capacity has reached 947 million tonnes per annum.During the past year, eight new regasification terminals
were commissioned in totaling 25.9 MTPA of capacity. “Five of these terminals started commercial operations during the year:
two onshore terminals , one in India and one in Puerto Rico, two FSRUs, one in Brazil and one in Indonesia, and one Floating
Storage Unit (FSU) combined with onshore regasification facilities in Myanmar, adding a combined 12.3 MTPA of operational
regasification capacity in 2020,” explained the report.Four terminal expansion programmes were completed in 2020: three in
China and one in Japan, adding around 5.8 MTPA of regasification capacity. “At the end of the year, 11 new floating and 22
new onshore terminals were reported to be under construction,” noted the GIIGNL. “Total regasification capacity under
construction at the end of the year reached 157 MTPA, with 74 percent located in Asia,” it added. source : www.lngjournal.com
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Cheniere produces a nameplate 22.5 million tonnes per annum from the Sabine Pass facility and 15.0 MTPA at the Corpus
Christi plant.The company noted that during the first quarter of 2020, a total of $53M in LNG revenues associated with cargoes
for which customers notified Cheniere that they would not take delivery, which would have been recognized subsequent to
March 31, 2020 had the cargoes been lifted pursuant to the delivery schedules with the customers. “We did not have such
revenues during the first quarter of 2021,” it added. At the end of the first quarter Cheniere said it had cash and cash
equivalents of $1.7Bln on a consolidated basis, of which $1.2Bln was held by Cheniere Partners.The Houston-based company
is still developing one more liquefaction Train for Sabine Pass with 4.5 MTPA of output and seven additional mid-scale Trains
with an expected total production capacity of around 10 MTPA. Cheniere said it planned to move forward with the Corpus
Christi expansion after entering additional commercial supply agreements and obtaining project financing. Source : www.lngjournal.com
Qatar Petroleum has nominated Qatargas to handle the tender on its behalf. Shipowners have yet to contact the four shipbuilders
— South Korea’s Hyundai Heavy Industries, Daewoo Shipbuilding & Marine Engineering and Samsung Heavy Industries, and
China’s Hudong- Zhonghua Shipbuilding (Group) — where Qatar Petroleum has reserved a total of 151 berths. But shipbuilding
sources suggest that once owners have been shortlisted, yards might be brought into the frame. In making their technical bids,
37 pre-qualified shipowners have had to consider eight vessel specifications and at least four main charter periods. Each of
the four yards offered two 174,000-cbm vessel designs — one for ME-GI propulsion systems, the other for X-DF engines.
Owners were also asked to bid on a charter period of 10, 12, 15 or 20 years, with options to extend up to 25 years.Qatar
Petroleum — which has not yet given a clear price for its reserved LNG carrier berths — has also expressed an interest in
vessel efficiency measures such as air lubrication and reliquefaction. The liquefaction giant has eight firm berths and a similar
number of optional slots reserved at Hudong-Zhonghua, and up to 45 berths reserved at each of the South Korean yards.The
delivery dates pencilled in start from the end of 2023 and stretch into 2026. Qatargas is expected to assign selected owners
to shipyard berths. Qatar is making its raid on LNG newbuildings to cover its exports from the country’s North Field Expansion
project, which will raise its nameplate production from 77 million tonnes per annum to 126 mtpa by 2027. The tiny Middle East
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Gulf state has said it also needs vessels for fleet renewal and its Golden Pass LNG export project in the US. source :
www.tradewindsnews.com
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He said climate change is opening a window for safe navigation along the route.A shorter shipping distance between the West
and Asia is another strong driver. He added that advances in technology are allowing vessels to operate safely in Arctic waters
with design and equipment that is already of a far higher specification than that deployed on commodity shipping. While the
installation of infrastructure along the route is also developing “relatively fast” and on schedule, Frank cited the new generation
of ice breakers under construction and next level satellite coverage and onshore support bases for SAR as underpinning the
momentum.
Philosophical
He said the good news for shipping is that this infrastructure will not only provide support for vessels in harsh winter conditions
but potentially for new seasonal summer transit trades, which will be attractive and affordable for existing vessels.He sees this
as a more realistic scenario than companies building specialised Arc7 ice-class fleets. Frank said the industry has already
witnessed the demand for route alternatives when the Suez Canal was blocked by the grounding of the 20,388-teu boxship
Ever Given (built 2018) on 23 March.He repeatedly turned to Greek philosophy, quoting Heraclitus’ theory that everything flows
and nothing stays still.He said NSR transit movements will grow, explaining that it could be a very interesting channel for
shipping companies from the west coasts of the US and Canada, and north-west Europe, which could use the summer season
to reposition vessels.
Exotic
He conceded that the route might not be for everyone, adding that in the shipping community, there will always be those ready
to accept risk, those that avoid it and local specialists. But he said: “There is a space and there is a place for the Northern
Sea Route within this balanced and integrated transportation system of the 21st century.” However, he is frustrated by those
who will not consider the NSR and its potential to cut shipping distances.“It is a bit exotic that we are seriously talking about
how to populate Mars but we don’t understand a lot about what is basically a stone’s throw distance from us,” he remarked.
Smart LNG currently has 14 Arc7 vessels under construction at Russia’s Zvezda Shipbuilding Group."When the next generation
of Arc7 LNG carriers and the new ice breakers come into service in 2023, we will be much better prepared to launch a year-
round navigation in the eastern sector of the NSR,” Frank said. But he added that it is important to respect the Arctic. “Every
voyage gives us more data, more facts and more understanding," he said.“We need to make our next steps very accurately
and after a thorough analysis. We are not in the race to make achievements every next month. It is not a sport, it’s a serious
business.” source : www.tradewindsnews.com
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have been diverted to other destinations. And at least three other India-bound vessels have either slowed their speeds or
paused their journeys, according to vessel tracking data from analytics firm Vortexa. More India-bound vessels are likely to be
turned away in the coming weeks, market participants said, as the country's coronavirus outbreak showing no signs of abating.
The 160,276m³ Cubal loaded at Angola LNG's 5.2mn t/yr Soyo LNG facility on 12 April and was scheduled to arrive at the
17.5mn t/yr Dahej terminal in the western state of Gujarat on 30 April. But the vessel signaled a change in destination on 29
April, to China's Fujian province, where it is now expected to arrive on 9 May. The 180,000m³ Gail Bhuwan was due to deliver
a US LNG cargo to Dahej, which is operated by state-controlled Petronet, on 22 April. But the vessel is now heading to
Kuwait's 5.7mn t/yr Mina al-Ahmadi LNG terminal, where it is estimated to arrive on 1 May. State-controlled gas distributor
Gail was meant to take receipt of the cargo, which loaded at the 5.75mn t/yr Cove Point LNG facility in the US on 24 March.
But Gail issued a tender on 15 April to sell the cargo, specifying various possible destinations including south Asia, the Middle
East, Singapore, Brazil and Argentina, and Europe. The tender was awarded to Shell Trading, market participants said. The
174,000m³ Gaslog Greece vessel was due to head to India after loading a cargo at the 3.7mn t/yr Punta Europa terminal in
Equatorial Guinea on 1 April. It arrived offshore India's west coast on 25 April but has been circling the area ever since. The
137,540m³ Ish is scheduled to arrive at Dahej on 2 May after loading at Abu Dhabi's 5.6mn t/yr Das Island LNG facility on
14 April. But its speed fell from 17 knots (31km/h) on 15 April to just 5 knots on 20 April, when it was near the Khor Fakkan
anchorage Abu Dhabi. It then gradually picked up speed and is currently off India's west coast travelling at 9 knots. The seller
has been in talks with various buyers in the last few days to divert the cargo but the outcome of those discussions is unclear,
market participants said. The 137,000m³ Mubaraz loaded at Das Island on 21 April and is scheduled to deliver its cargo to
Dahej on 6 May. But the vessel was floating in the Mideast Gulf from 21-28 April.
The diversions, slowdowns and idling of vessels reflect high stock levels at Indian terminals as Covid-19 restrictions and
lockdowns hit India's LNG consumption, market participants said. Stock levels at Dahej are close to 90pc of capacity, compared
to around 60-70pc a month earlier, one India-based trader said. Measures to curb India's Covid-19 outbreak have hampered
gas demand from the industrial sector, even as factories and industries remain allowed to operate. Some manufacturing and
industrial plants have been hit by falls of up to 50pc in their labour force because of Covid-19, resulting in a slowdown in
processes and gas consumption, market participants said. Gas demand from city gas firms and refineries has fallen by around
10-20pc and 5pc respectively since the second wave of Covid-19 cases began, the India-based trader estimated. And LNG
demand could take a further hit if the restrictions and lockdowns are extended further, he said. India reported a record 386,000
new cases across the country yesterday, taking its total case count to 18.7mn. The government has already extended a
lockdown in Maharashtra state, which began on 14 April, to 15 May from 1 May previously as it struggles to contain a sharp
surge in Covid-19 infections. Maharashtra is one of the most badly hit states in the country, recording 66,159 new Covid-19
cases and 771 deaths on 29 April alone. A slew of regulations and restrictions have been imposed at terminals in India on the
back of the surge in Covid-19 cases. Visitors to vessels at Dahej must undergo a RT–PCR real-time detection test for Covid-
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19, as well as produce evidence they are not infected by the virus. Dahej received 17 cargoes in April, compared to 22 in each
of March and February. It last received a cargo on 28 April from the 136,026m³ Raahi, which loaded at the 77mn t/yr Ras
Laffan facility in Qatar on 23 April, Vortexa data show. source : https://www.argusmedia.com/en/news/2210740-lng-vessels-diverted-from-india-as-covid-
hits-demand
Ravenna Knutsen is one of the world’s first small- or medium-scale LNG carriers to feature space-saving IMO Type C bi-
lobe cargo tanks, which can be fully or partially pressurised. It is fitted with three 10,100 m3 tanks with low alloy 9% Ni steel
to operate safely at low temperatures. With an overall length of 180 m, beam of 28.4 m and draft of 8.42 m, the 27,100-gt
vessel has a maximum speed of 15 knots. Designed to comply with stricter international environmental maritime regulations,
whilst at the same time increasing operational efficiency, it is equipped with an Otto-cycle, low-pressure Hyundai WinGD
5X52DF dual-fuel main engine – with a maximum output of 7,710 kW – driving a Wärtsilä-supplied controllable-pitch propeller.
Operating in gas mode, the engine is IMO Tier III compliant. The vessel can use marine diesel and LNG fuel during operation
and the shaft generator is able to produce and supply electricity through propulsion. For manoevrability, the LNG carrier is
equipped with a TTC 65 tunnel thruster supplied by Kongsberg Maritime. A notable technical feature on the DNV class vessel
is the boil-off gas (BOG) reliquefaction unit, which ensures a higher level of operational flexibility and a further improvement
in terms of containment of environmental impact. Wärtsilä supplied the integrated propulsion and cargo-handling solution,
including the fuel supply, cargo-control system, and BOG reliquefaction. A company spokesman said the five-cylinder dual-
fuel main engine and the three Wärtsilä 8L20DF auxiliary dual-fuel engines were essential consumers for the BOG management
system, which monitors and controls the cryogenic cargo, to ensure, in combination with a developed mixed refrigerant re-
liquefaction unit, all-time control over the cargo tank pressure and temperature. The delivery of the Spanish-flag LNG carrier
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is a significant step towards the opening of the first coastal ssLNG terminal in mainland Italy in the port of Ravenna. The LNG
carrier, initially operating with a capacity of 10,000 m3 and doubling after that, is slated to go into service in Q3 2021 to
dovetail with the opening of the LNG depot. In 2018 Edison, a leading Italian and European operator in the supply, production
and sale of electricity, announced a partnership with Petrolifera Italo Rumena (PIR) and the creation of a new company,
Depositi Italiani GNL, to build the €100M (US$121M) Ravenna terminal. It will have a storage capacity of 20,000 m3 and annual
handling capacity of more than 1M m3 of LNG; making LNG available in Italy to fuel up to 48 ferries and 12,000 trucks a year.
At the same time, Edison revealed its 12-year agreement with Knutsen OAS, with options to extend for an additional eight
years, for the chartering of Ravenna Knutsen. Commenting on the charter agreement, Edison chief executive officer Marc
Benayoun said: “Not only are we guaranteeing the country a new source of LNG supply by creating a new infrastructure, but
we are also contributing to build a future of sustainable energy, enabling the achievement of the targets set by 21st Conference
of the Parties (COP21) Directive for Alternative Fuels Infrastructure (DAFI) European directive and National Energy Strategy,
thanks to the reduction of emissions produced by maritime and heavy-duty transport that this new fuel makes possible.” Added
Mr Benayoun: “This agreement is a fundamental element for the development of Edison’s small-scale LNG project to provide
a sustainable and green fuel alternative for the naval and truck transportation sector.” Following the delivery of Ravenna
Knutsen Edison has confirmed that the development work in Ravenna is moving forward as planned, while revealing plans for
the creation of further coastal LNG storage facilities. Pierre Vergerio, the company’s executive vice president, gas midstream
energy management, added: “Our target is to reach 25% of the Italian market by 2030, therefore Ravenna is only the first
step.” Added Mr Vergerio: “The LNG advantages in terms of emissions compared to traditional fossil fuels are clear, both in
heavy-duty and maritime transport. We estimate the project will avoid 6M tons of CO 2 emissions over its life cycle.” Growing
LNG infrastructure is underpinning the strong growth potential for LNG-fuelled vessels and heavy vehicles in the Italian market.
There are 199 vessels in operation and another 283 under construction that will use LNG as a fuel, according to DNV’s
Alternative Fuels Insight. There are another 163 vessels built ‘LNG ready’. Edison is currently the only long-term importer of
LNG in Italy, which includes a supply from the US following a sales and purchase agreement with Venture Global for some
1.4Bn m3 of LNG from the Calcasieu Pass plant under development in Louisiana. Knutsen OAS deputy managing director
Synnøve Seglem noted that the shipowner had worked a “long time to get this contract” and was “looking forward to a long
relationship with a new charterer, Edison.” The Norwegian shipowner has extensive experience in the transportation of LNG,
crude oil, oil products and chemicals. With the addition of Ravenna Knutsen, Knutsen OAS has 46 vessels in operation – 31
shuttle tankers, including two floating storage and offloading units, four product tankers and 11 LNG carriers. It has an additional
three LNG carriers and three shuttle tankers currently under construction. Source : www.rivieramm.com
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Brazilian President Jair Bolsonaro signed a new gas bill into law on April 9, following a decade of intense
debate between the government and the gas industry over the legislation. The law is expected to cut
through regulatory obstacles to development, attract new players and investment into the sector, spur
competition and lead to lower gas prices in Latin America’s largest country. According to Brazilian think
tank Energy Research Office (EPE), the new regulatory framework might generate $8-10bn in investments
in the industry and lead to a growth in gas production to 147mn m3 /day by 2030, versus 136mn m3 /d at
present. It might also create four million jobs over the next five years and add 0.5% to GDP growth over
the next ten, EPE estimates. "Only with this new law, natural gas can become more competitive and boost
the country's economy, with new investments, generation of jobs and income", said the Brazilian Petroleum
and Gas Institute (IBP), commenting on the bill’s approval. IBP is an institutional representative of Brazil’s
oil and gas industry which brings together more than 160 associated companies and professionals. The
basic text of the gas bill was approved by Brazil’s upper house of parliament, the Federal Senate, in
December last year. It was then sent back to the lower house, the Chamber of Deputies, for further
amendments, and those lawmakers approved it in March.
Reforms
The new law intends to more closely integrate the gas chain – production, transportation, processing,
storage, liquefaction, regasification and end use – into the electrical system. Under the new rules, industrial
consumers will be able to buy directly from suppliers. Before, only Brazil’s state-run oil company Petrobras could supply gas
to local distributors in Brazil’s states, who in turn were the only sellers to consumers. The law establishes an authorisation
regime for gas pipelines, simplifying the regulatory process and making every player able to build, expand, operate and maintain
pipelines freely, at their own risk. It creates a similar regime for underground gas storage. The law also ensures that third
parties can access infrastructure such as natural gas processing units and LNG liquefaction and regasification terminals, at a
price. Currently only Petrobras can use these facilities. It provides a regime for contracting gas capacity at entry and exit points
in the pipeline network, reducing red tape. The legislation also consolidates several market laws into a single one, giving the
industry greater legal certainty. The new law has been welcomed by Brazilian industry as a move that would lead to greater
prosperity for the gas sector. The president of the Brazilian Association of Industrial Energy Consumers, Paulo Pedrosa, said
the bill would “stimulate competition among gas distributors as well as among Brazilian states.” States that create the right
conditions will support local business, he said, noting that Rio de Janeiro, Sergipe, Amazonas and Espirito Santo had already
broken up their gas distribution monopolies since the bill’s approval. Rivaldo Moreira Neto, CEO of Brazilian consulting firm
Gas Energy, also hailed the legislation, saying it represented a remarkable move towards gas market liberalisation after a
decade of discussions within the Brazilian Congress. IBP notes that the law will encourage companies to increase their
investments across the supply chain, from gas production to the construction of new processing capacity.
The work ahead
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The bill alone will not bring about the hoped-for boost in investment, however. Petrobras’ ongoing divestment programme must
remain on track, and access to pipelines still reserved by the state oil firm must be expanded. While Petrobras’ divestment
plan has been underway for some years now, the company still accounts for 70% of Brazilian gas production and 100% of the
country’s gas imports. It also remains Brazil’s main gas infrastructure operator. However, the company itself has shown
commitment to changing this status quo, continuing to offload infrastructure assets. In September it also signed terms of
cessation of conduct (TCC) with Brazil's national competition regulator (CADE), in which it pledged to open up access to its
transmission and processing assets and sell at least one of its LNG plants. Petrobras sold a 90% interest in Brazil’s largest
gas pipeline company TAG in 2019 to France’s Engie and Canadian investment fund Caisse de Depot and Placement du
Quebec (CDPQ) for $8.6bn, and then shed the remaining 10% share last year. In 2017 it also divested a 90% stake in pipeline
firm Nova Transportadora do Sudeste (NTS) to affiliates of Brookfield Asset Management and is seeking to sell the remaining
10%. Petrobras is also working to sell its positions in TBG, which manages gas transportation in Brazil’s middle west region,
the Brazil-Bolivia Pipeline and Gaspetro, which has interests in 19 Brazilian regional gas distribution companies. Gaspetro is
considered the most attractive of the Petrobras asset up for sale. The Brazilian oil company holds a 51% interest in Gaspetro
while Japan’s Mitsui has 49%. In 2019, Gaspetro supplied 29mn m3 /d of gas to roughly 500,000 clients through a distribution
network of more than 10,000 km of gas pipelines. Still, more work is needed to ensure that these divested assets are truly
available to third parties. According to a study by Gas Energy, private companies still do not have sufficient access to TAG
and NTS even though they are no longer under Petrobras’ control. Increased access will lead to cheaper gas, Gas Energy
argues. “Now, it is important to establish rules and adaptations so the market can operate with more confidence and safety
over the available capacity of those pipelines,” Gas Energy’s Moreira Neto said in a recent webinar. “We expect that Brazil’s
Oil and Gas Regulator (ANP) and other gas pipeline companies will work together in this agenda and create wider access to
the pipelines for other companies.”
History of Petrobras
Petrobras was created in 1953 and given a legal monopoly over all oil and gas developments in the country. In its first year,
it produced 2,700 b/d of oil. It is now ranked by Forbes as the 70t h largest public company in the world, with production in
2020 of more than 5mn barrels of oil equivalent/day. Source : www.naturalgasworld.com
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and do not necessarily reflect the views of any other associated company. NEWS AND SOURCE: LNGWORLDNEWS, LNG INDUSTRY, THE HINDU BUSINESS, ARGUS MEDIA, PETROWATCH, REUTERS, IGU LNG REPORT 2018, TRADEWINDS, MONEYCONTROL
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