Oil and gas companies currently have assets for sale with recoverable reserves of more than 5 billion barrels of liquids and 7.5 billion barrels of oil equivalent (boe) of natural gas, Norwegian research firm Rystad Energy estimates.
The production of natural gas from the UK Continental Shelf (UKCS) creates less than half as much greenhouse gas as imported LNG, according to data published by the Oil and Gas Authority (OGA).
Rystad Energy estimates that the decision taken by the Papua New Guinea (PNG) to halt the talks with ExxonMobil about the state’s share of revenues from the planned P’nyang gas field development is expected to delay two key LNG projects that would double the country’s gas output.
The Papua New Guinea Government announced that it gave the greenlight to Total, the Papua LNG Project operator, to move forward with the implementation of the $20 billion Papua LNG Project.
Liquefied natural gas (LNG) regasification volumes at Lithuania’s first and only import terminal in the port of Klaipeda reported mixed results for the first month of the year. Klaipedos Nafta, the terminal operator, published its monthly report according to which the facility regasified and reloaded 0.47 Twh of natural gas, 79.1% above the 0.26 TWh in the same month in 2018.
The Australian Commonwealth Changes announced changes to the petroleum resource rent tax, in order to collect increased taxes from oil and gas operators. The PRRT is a tax generally on profits generated from the sale of marketable petroleum commodities.
Pipelines that are connected and a safer, greener and cheaper alternative to LNG could take place in the UK North Sea as part of the TechX Pioneer technology accelerator programme. Each company will receive £25,000 seed funding to develop their business and improve the technology through a 6-week programme, which starts at the Oil & Gas Technology Centre in June 2018.
