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.
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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%...
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.
The white gold rush and the pursuit of natural hydrogen
The buzz around natural hydrogen – dubbed white or gold hydrogen – is gaining global momentum as a potential gamechanger in the hunt for cost-effective, low-carbon energy sources. Rystad Energy research shows that at the end of last year, 40 companies were searching for natural hydrogen deposits, up from just 10 in 2020. Currently, exploratory efforts are underway in Australia, the US, Spain, France, Albania, Colombia, South Korea and Canada.
One of the most promising elements of...
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.
Developing Seismic Energy and Emission Reporting Standard
Shearwater, PGS and DNV launched a new Joint Industry Project (JIP) in August 2023 with the ambition of defining Key Performance Indicators (KPIs) for energy and emission reporting for the Seismic sector.
The JIP aims to establish a standardized reporting framework based on currently gathered data and operating modes enabled by the DNV reporting tool. In 2023 the basis for work has been carried out mapping needs and available information and getting ready for data tests.
The work is...
Notification of Airborne Gravity Survey Operations in Victoria
The 2024 airborne gravity survey across southern and eastern Victoria is about to recommence operations over the Gippsland and Hume regions including offshore, having previously completed survey areas in the Colac-Otway, Gippsland and Hume regions.The airborne survey is being collaboratively organised through Surveyor-General Victoria within the Department of Transport and Planning (DTP), Geological Survey of Victoria within the Department of Energy, Environment and Climate Action (DEECA)...
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.