Archives for August 2024

August 2024

Korea Expands LNG Security with Completion of Gwangyang Terminal 1 Facility

12/08/2024 Posted by Dale

POSCO INTERNATIONAL has completed construction of the Gwangyang LNG Terminal 1. Launched in 2002, this extensive infrastructure construction project received investments amounting to KRW 1.45 trillion over approximately 20 years.

More than 100 personnels from the government and client companies attended the completion ceremony, including Choi Nam-Ho, the Second Vice Minister of the Ministry of Trade; Park Chang-Hwan, the Vice Governor of South Jeolla Province; Jung In-Hwa, the Mayor of Gwangyang; Kwon Hyang-Yeop, the National Assemblyman; Choo Hyung-Wook, the President of SK E&S; Lee Sang-Kyun, the President of Hyundai Heavy Industries; Kim Hwan-Yong, the Vice President of Korea Gas Corporation; and POSCO Group executives including Lee Kye-In, POSCO INTERNATIONAL CEO.

Strong oil and gas demand to support production growth of Permian Basin, says GlobalData

12/08/2024 Posted by Dale

Global oil demand has been on the rise after the COVID-19 pandemic. Moreover, the Russia-Ukraine conflict caused major alterations in energy supply routes, which went in favour of the US shale drillers, including those in the Permian Basin. Spanning Texas and New Mexico, Permian Basin remains the largest oil-producing shale play in the US. Strong global demand and geopolitical shifts continue to support growth and competitiveness of this critical energy region, says data and analytics company GlobalData.

GlobalData’s latest report, “Permian Basin in the US, 2024,” reveals that benefiting from a dense pipeline network and Gulf Coast infrastructure, Permian Basin’s crude oil production averaged 5.6 million barrels per day (mmbd) during the first quarter (Q1) of 2024.

Defining the Geomechanical Operating Limits for Subsurface CO2 Storage

12/08/2024 Posted by Dale

Simon HolfordA*, Mojtaba RajabiB, Scott MildrenC, Rosalind KingA and Adam BaileyD

AUniversity of Adelaide, Adelaide, South Australia, Australia

BUniversity of Queensland, Queensland, Australia

CTech Limit Pty Ltd, Stirling, South Australia, Australia

DGeoscience Australia, Canberra, Australian Capital Territory, Australia

*Correspondence to Simon Holford. Email: simon.holford@adelaide.edu.au

Abstract. Carbon capture and storage (CCS) is a critical component of proposed pathways to limit global warming, though considerable upscaling is required to meet emissions reductions targets.