Welcome back to the Weekly Roundup. We hope you had a good week. Here are some of our favourite articles from the week, providing an insight into the current climate and major industry developments.
In this week's LNG Wrap podcast, Patricia Roberts looks at the headway the industry is making despite the hurdles that COVID-19 brings. Hard evidence of this comes in the form of new regas terminals from 4 projects around the world.
LNG technology companies maintain leadership in sector for fuel and storage. The LNG industry has been a leader for many years in developing new shipping technology and improving efficiency and safety. The sector includes many small companies with world-class technologies, including one in the UK whose system can guarantee fuel savings for LNG carriers of five percent or more.
China took a major step in the reform of its national oil and gas pipeline network, with newly formed PipeChina agreeing to buy pipelines and storage facilities valued at 391.4 billion yuan ($55.9 billion). Under the deal, PipeChina, known formally as China Oil and Gas Pipeline Network, will take over oil and gas pipelines and storage facilities from state-owned energy giants PetroChina and Sinopec, in return for cash and equity in the pipeline company.
Total reported a 96 per cent drop in adjusted profit for the second quarter of 2020 due to lower prices and COVID-19 effects. The company reported an adjusted net income of $126 million, down from $2.9 billion reported in the corresponding quarter last year.
President Donald J. Trump announced yesterday during his speech in Midland, Texas that the US Department of Energy (DOE) is issuing a final policy statement that allows for LNG exports to non-free trade agreement (non-FTA) countries to be extended through the year 2050. This policy is a change from the current practice of granting 20-year export terms.
As always, keep checking the LNG Hub throughout the week for new content from industry experts and if you’d like to be involved in future roundups, or any content on the LNG Hub, please get in touch with Tori by emailing firstname.lastname@example.org
About the Author
She led the marketing on the WLNG 20th anniversary campaign in Rome last year
She lives in South London with her boyfriend and thoroughly enjoys a pub quiz – albeit online currently!