U.S. GAS EXPORTS WILL UP
EIA - EIA's latest Short-Term Energy Outlook projects that the United States will export more natural gas than it imports in 2017. The United States has been a net exporter for three of the past four months and is expected to continue to export more natural gas than it imports for the rest of 2017 and throughout 2018. The United States' status as a net exporter is expected to continue past 2018 because of growing U.S. natural gas exports to Mexico, declining pipeline imports from Canada, and increasing exports of liquefied natural gas (LNG).
The United States is currently the world's largest natural gas producer, having surpassed Russia in 2009. Natural gas production in the United States increased from 55 billion cubic feet per day (Bcf/d) in 2008 to 72.5 Bcf/d in 2016. Most of this natural gas—about 96% in 2016—is consumed domestically. Abundant natural gas resources and large production increases have created opportunities for U.S. natural gas exports.
With a near doubling of U.S. export pipeline capacity to Mexico by 2019, EIA expects U.S. natural gas exports to increase, though they should remain well below the available pipeline capacity. Mexico's national energy ministry (SENER) expects to increase its natural gas use for electric power generation by almost 50% between 2016 and 2020. Mexico's domestic natural gas pipeline network is undergoing a major expansion, primarily to accommodate new natural gas pipeline imports from the United States.
In addition, supplies of natural gas out of Appalachia into the Midwestern states are likely to gradually displace some pipeline imports from Canada as well as increase U.S. pipeline exports to Canada from both Michigan and New York. Several new pipeline projects, including the Rover and Nexus Gas Transmission pipelines, are also being developed to increase takeaway capacity from the Marcellus and Utica supply regions that span parts of New York, Ohio, Pennsylvania, and West Virginia into the U.S. Gulf coast, Midwestern states, and eastern Canada.
EIA expects exports of liquefied natural gas (LNG) to increase. U.S. liquefaction capacity continues to expand as five new projects currently under construction—Cove Point, Cameron, Elba Island, Freeport, and Corpus Christi—come online in the next three years, increasing total U.S. liquefaction capacity from 1.4 Bcf/d at the end of 2016 to 9.5 Bcf/d by the end of 2019.
Three liquefaction trains at Sabine Pass, Louisiana, are currently the only operational liquefaction facilities in the United States. A fourth train at Sabine Pass is undergoing commissioning and a fifth train is expected to come online in 2019. Another liquefaction project at Cove Point, in Maryland's Chesapeake Bay, is scheduled to come online later this year.
Based on construction plans, EIA expects that by 2020 the United States will have the third-largest LNG export capacity in the world after Australia and Qatar. The latest Short-Term Energy Outlook forecasts that U.S. LNG exports will reach 4.6 Bcf/d by December 2018 as new liquefaction trains at Cameron, Freeport, and Elba Island come online. However, actual use of U.S. LNG export terminals will be affected by the rate of global LNG demand growth and competition from other global LNG suppliers.
India's LPG imports are expected to rebound from July onwards and is on track for a 10% annual increase in the current fiscal 2017-2018 (April-March), after plunging to the lowest in two years in June, trade sources from four oil and gas companies in India said recently.
Russia's Gazprom will soon be able to bid for up to 12.8 Bcm/year of extra capacity in Germany's 36.5 Bcm/year Opal natural gas pipeline after an EU court lifted a temporary ban late Friday.
Australia's LNG exports in fiscal 2017-2018 (July-June) will be 63 million mt, after it crossed, for the first time, 50 million mt in fiscal 2016-2017, energy consultancy EnergyQuest said in its forecast on Wednesday.
Crude oil production from the seven major US onshore regions is projected to rise 113,000 b/d month-over-month in August to 5.585 million b/d.
While US demand for gas is rising because of higher industrial consumption, more than half of the production increase will be used for LNG for export. By 2022, IEA estimates that the US will be on course to challenge Australia and Qatar for global leadership among LNG exporters.
CHINA will accelerate expanding oil and gas distribution in the next decade to ensure energy security and help boost industry, its top economic and energy planners said.
«Будет происходить глубинное переформатирование географической структуры рынка – так, при ожидаемой стагнации или уменьшении объемов энергопотребления в странах ОЭСР, центр роста потребления сместится в страны Азии, Ближнего Востока, Африки, где потребление вырастет не менее чем в 1,5 раза»
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PLATTS - For full-year 2017, South Korea's crude imports from its biggest supplier Saudi Arabia fell 1.7% to 319.02 million barrels, compared with 324.45 million barrels in the previous year, customs data showed. On the contrary, South Korea has imported 1.77 million mt, or around 13 million barrels, of crude from the US in 2017, about four times higher than in 2016. Shipments from Russia grew to 140,000 b/d last year from 112,000 b/d in 2016.
AOG - ADNOC’s 2030 strategy, he said, aims to capitalise on predicted global economic growth and demand for oil and petrochemical products, particularly in non-OECD countries. As its business responds to changing market dynamics, the company will continue to broaden its partnership base, strengthen its profitability, adapt to new realities and expand market access.
WNN - Under the terms of the assignment and purchase agreement it has signed with Nucleus and Brookfield, Toshiba will sell its rights to assert claims against Westinghouse related to the parent guarantees in the amount of $5.788 billion, and on account of other claims Toshiba holds against Westinghouse in the amount of $2.284 billion to Nucleus, for the sale price of $2.160 billion.
REUTERS - Brent crude futures LCOc1 were at $69.23 a barrel at 0808 GMT, up 8 cents from their last close, but down from a high of $69.37 earlier in the day. Brent on Monday rose to $70.37 a barrel, its highest since December 2014, the start of a three-year oil price slump. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $63.84 a barrel, down from a high of $63.89 earlier, but up 11 cents from their last settlement. WTI hit $64.89 on Tuesday, also the highest since December 2014.