Nat Gas News – October 31, 2018

Nat Gas News – October 31, 2018

China’s Tariff on US Natural Gas Delays Louisiana LNG Project

CNBC reported: A company behind a multibillion-dollar project to export liquefied natural gas from Louisiana is delaying its investment decision due to problems lining up Chinese buyers amid the ongoing U.S.-China trade dispute. The announcement shows the trade tensions are beginning to have a negative impact on an industry that President Donald Trump has championed. Trump has pitched U.S. LNG — natural gas chilled to liquid form — to trade partners from China to Poland. Australia’s LNG Limited on Monday said it will not make a final investment decision this year on its Magnolia LNG terminal near Lake Charles, Louisiana. The company previously told investors it expected to announce a decision by year-end. “We made that statement prior to the trade tensions that have manifested over the past months, which have caused headwinds for LNG transactions,” LNG Limited CEO Greg Vesey said in a letter to shareholders. For more on this story visit spglobal.com or click https://cnb.cx/2PwbDR4

UK Approves Serica-Operated Columbus Offshore Natural Gas Field Development

S&P Global reported: The UK has approved the development plan for the Serica Energy-operated Columbus gas and condensate field in the Central North Sea, the company said Wednesday, the latest in a string of approvals for gas fields in the region. Columbus is expected to produce a total of 7,800 b/d of oil equivalent — 1.2 million cu m/d in gas terms — at peak. Production is expected to begin in mid-2021. The green light for Columbus follows FIDs taken by Shell for its Arran and Fram gas fields in October and June, respectively, in the Central North Sea. “Columbus is the final component of the UK Oil and Gas Authority’s Central Graben Area Plan, which also included the recently sanctioned Fram and Arran fields, unlocking over 50 million boe recoverable reserves which had struggled for decades to be developed,” the authority’s CEO Andy Samuel said Wednesday. For more on this story visit spglobal.com or click https:// bit.ly/2EQoglJ

 

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