gas trading
OMV and Wintershall to appraise Shuwaihat sour gas and condensate field The Abu Dhabi National Oil Company (ADNOC), signed a Technical Evaluation Agreement (TEA) with OMV Abu Dhabi E&P GmbH (OMV) and Wintershall Middle East GmbH – Abu Dhabi (Wintershall) to appraise the sulfur rich sour gas (H2S and CO2) and condensate field in Shuwaihat. This Agreement is […]
Gazprom brings Shtokman back to square one Shtokman field was discovered in 1988, and is located 550 kilometers offshore northern Russian coast by 340 meters water depth. The recoverable reserves are estimated to 3.9 trillion cubic meters of natural gas. The project development is planned in three phases, each one to produce 23.7 billion cubic […]
Petronas to pay $5.3 billion Progress Energy Resources The Malaysian NOC Petronas and the Canadian Progress Energy Resources (Progress) have signed an agreement for a friendly takeover of Progress by Petronas. The integration will be done through Petronas Canada to remain based in Calgary, Alberta, for upstream with commercial office in Vancouver,BC, for LNG. The […]
Definition Liquefaction refers to the physical transformation of gas into liquid. In the oil and gas industry this liquefaction of gas may be processed just by compression, just by refrigeration, or both in combination depending on the gas. Comments In most of the cases the gas liquefaction is performed for storage and transportation purpose. Previous […]
Liard Basin tops best shale gas fields in North America The Houston, Texas-based, Apache Corporation (Apache) announced the shale gas Liard Basin in British Columbia (BC), Canada, to contain 48 trillion cf of marketable natural gas. In addition the tests performed by Apache through three wells have reported that the shale gas of the Liard Basin is among “the […]
Gazprom to study underground gas storage in China Last May, China and Russia had terminated lengthy negotiations on their natural gas trading prices to drive the constructions of multiple gas pipelines between the two countries. China had made its best efforts to increase its offer from $0.235 per cm to $0.250 while Russia was ready to accept $0.300 per cm instead of $0.350. But the […]
Gas prices and high costs dictate to rethink Shtokman The foreseen capital expenditure for the Shtokman gas field development came up from first estimated $15 billion to $30-40 billion. This costs escalation is resulting from multiple factors including the combined target to produce 50/50 natural gas and LNG. This goal appeared to have a great impact on […]
Definition The Henry hub is the pricing point for the natural gas future and spot contracts traded on the New York Mercantile Exchange (NYMEX). Physically the Henry hub is located in Erath, Louisiana, USA and belongs to the Sabine Pipeline LLC. Comments Future and spot prices set at Henry hub are denominated in $/mbtu (million of British thermal units) and are generally […]
