Concerns over the east coast gas market have deepened, with warnings gas generators may soon burn diesel at extra cost and emissions to plug energy shortages unless new gas supply is developed.
Industry
Weak demand shadows minor supply outages
Energy’s gas and LNG market update from senior analyst, Masanori Odaka:Spot prices in Asia remain under $10 per million British thermal units (MMBtu), well below those seen in the same period in 2022 and 2023, leading to revised optimization demand from buyers.In general, gas demand and consumption in the northern hemisphere is set to fall in the coming weeks as most countries enter the spring season.In Europe, April prices on the Netherlands-based Title Transfer Facility (TTF) fell 9.8% week-on-week to approximately $7.9 per MMBtu on 12 March.
HARVESTER ENERGY AWARDED 2 NORTH SEA BLOCKS TO PROGRESS PATENTED SMALL-FIELD PRODUCTION SYSTEM
Harvester Energy (UK) Ltd, a wholly owned subsidiary of Harvester Energy Pty Ltd, has been awarded two blocks in the North Sea with confirmed oil reserves ideally suited to the company’s patented small-field development system.
Shearwater Awarded Seismic Survey for UK Carbon Capture and Storage Project
Shearwater has been awarded a contract for advancing Carbon Capture and Storage (CCS) capabilities in the United Kingdom by Spirit Energy.
CGG Aims to hit high notes with Hydrogen
CGG, which now calls itself “a global technology and Earth science leader”, has commenced a worldwide natural hydrogen screening project with industry support.
India ranks second in LNG regasification capacity additions in Asia through 2027, forecasts GlobalData
India is set to register the second highest LNG regasification capacity additions in Asia between 2023 and 2027, accounting for about 22% of the region’s total capacity additions by 2027, forecasts data and analytics company GlobalData.
Global Gas Hubs Still Seeing Red Despite Red Sea Attacks
Red Sea tensions could significantly impact Europe’s LNG deliveries, but a TTF price jump was short-lived as fundamentals keep gas prices muted.
Tamboran Making Progress on Key Pipeline Agreements with APA Group
In an update to the market, Tamboran Resources Managing Director and CEO, Joel Riddle, said he was “excited" to progress a June 2023 Letter Agreement with APA Group into binding early development and partnership agreements that support the development of Tamboran’s Beetaloo Basin assets in the Northern Territory.
Gas sector Delivers Supply as ACCC Issues Wake-Up Call For Governments
Australia’s gas industry has fulfilled its commitment to the domestic market as the Australian Competition & Consumer Commission (ACCC) again warns governments of the need for new gas supply to avoid east coast shortfalls in coming years.
Oil and Gas Industry Thanks Outgoing WA Minister Bill Johnson
Western Australia’s oil and gas sector has thanked outgoing Minister for Mines and Petroleum; Energy; Hydrogen Industry; Industrial Relations Bill Johnston MLA, for his strong support and commitment to the industry.