Despite a challenging year, Trinidad and Tobago NGL Limited (‘TTNGL’/’Company’) recorded an after-tax profit of TT$5.8 million for the year ended 31 December 2020. This translated into earnings per share of TT$0.04.
The Energy Chamber of Trinidad & Tobago is delighted to hear about the signing of the Joint Venture agreement between Heritage Petroleum and EOG Resources for acreage in the Trinidad Northern Areas block. As indicated by both the Prime Minister and the Minister of Energy, this is the first in a series of new joint ventures or farm/lease-out that will be entered into by Heritage on their oil acreage. This is very good news for Trinidad & Tobago’s oil industry and indeed the overall economy.
The Ministry of Energy and Energy Industries (MEEI) has announced that on February 18th, 2021, the Cabinet agreed to the establishment of a Carbon Capture and Carbon Dioxide (Co2) Enhanced Oil Recovery Steering Committee.
The Energy Chamber’s Learning Centre began operations in September 2011. We initially started with the provision of computer-based training and expanded into classroom based delivery of training. At present we offer a wide range of face to face and online training programs to our members as well as the public. Programs that have been widely accepted and have been delivered successfully. We consistently seek to provide relevant, quality, customized and general training to our customers.
According to BPC, the 2021 Trinidad drilling program will commence with the drilling of the Saffron #2 appraisal well, as a follow up to the successful Saffron #1 discovery well completed in March 2020. BPC has a 100% working interest in the Saffron discovery.
Tullow Oil plc (Tullow) has announced that the Goliathberg-Voltzberg North exploration well, drilled in Block 47, offshore Suriname, has reached Total Depth and encountered good quality reservoir but only minor oil shows.
The topsides lifting campaign for the Liza Unity FPSO was recently completed and a major project milestone was achieved. According to SBM, over 26,000 tons of topsides were safely lifted in position at Keppel Shipyard in Singapore, since the vessel came out of dry-dock in October of last year.
ExxonMobil has signed an agreement with HitecVision, through its wholly owned portfolio company NEO Energy, for the sale of most of ExxonMobil’s non-operated upstream assets in the United Kingdom central and northern North Sea. The sale price of more than $1 billion is subject to closing adjustments, and has additional upside of approximately $300 million in contingent payments based on potential for increase in commodity prices.
Atos and HDF energy announced their plan to develop a complete end-to-end long-term solution to supply datacenters with green hydrogen generated by renewable energy. The new solution by Atos and HDF will be the first available on the market for datacenters with heavy power consuming workloads, with the aim to demonstrate, in 2023, a first full production center operated using green hydrogen.
Global liquefied natural gas (LNG) trade increased to 360 million tonnes in 2020, according to Shell’s latest annual LNG Outlook published today, despite the unprecedented volatility caused by the COVID-19 pandemic which resulted in lockdowns around the world.
BHP EOI for provision of a Water Resource Situational Analysis (WRSA) Study
In its thrust to pursue value-added opportunities for the citizenry, The National Gas Company of Trinidad and Tobago Limited (NGC) signed an Engineering, Procurement, and Commissioning (EPC) contract for gas infrastructure for e TecK’s Phoenix Park Industrial Estate (PPIE), with the Beijing Construction Engineering Group Company Limited (BCEG). BCEG, a Chinese construction and engineering firm, is the design-build contractor for PPIE.
The National Gas Company (NGC), National Energy Corporation (NE) and Kenesjay Green Limited (KGL) have signed a Memorandum of Understanding to work collaboratively on the creation of a sustainable hydrogen economy for the energy sector of Trinidad and Tobago. The partnership includes the exploring of the feasibility of joint development of viable projects and related initiatives in Trinidad and Tobago, regionally, and internationally.
Trinity Exploration and Production (Galeota) conducted its second Public Consultation for the proposed Galeota Asset Development (GAD) Project as part of the certificate of environmental process (CEC). Trinity has made the application to the regulator in Trinidad and Tobago, the Environmental Management Authority (EMA).
Based on the previously announced Conditional Letter of Award, Maersk Drilling has been awarded contracts for the deepwater rigs Maersk Valiant and Mærsk Developer from Total E&P Suriname, Suriname Branch, for Total’s exploration and appraisal project in Suriname’s Block 58.
IN February last year, bp introduced its Net Zero ambition. That was followed by its announcement that the company intended to transition from an International Oil Company to an International Energy Company. Last July, bp VP of corporate operations Giselle Thompson spoke with Energy Now about the company’s Net Zero ambition. Here she speaks about how the transition is progressing and what has changed since July.
New Fortress Energy Inc announced that it has entered into definitive agreements to acquire Hygo Energy Transition Ltd. (“Hygo”), a 50- 50 joint venture between Golar LNG Limited (“GLNG”) and Stonepeak Infrastructure Fund II Cayman (G) Ltd., a fund managed by Stonepeak Infrastructure Partners (“Stonepeak”), and Golar LNG Partners, LP (“GMLP”).
“With a strong presence in Brazil and a world-class LNG shipping business, Hygo and GMLP are excellent additions to our efforts to accelerate the world’s energy transition,” said Wes Edens, Chairman and CEO of NFE. “The addition of Hygo will quickly expand our footprint in South America with three gas-to-power projects in Brazil’s large and fastgrowing market. With GMLP, we gain LNG ships and world-class operators that are an ideal fit to support our existing terminals and robust pipeline.”
“We are impressed with what Wes Edens and the NFE team have created and their commitment to changing the energy industry,” said Golar LNG Chairman Tor Olav Troim. “They share our vision to provide cheaper and cleaner energy to a growing population. The consolidation of two of the entrepreneurial LNG downstream players gives the company improved access to capital and creates a unique world-leading energy transition company which Golar shareholders will benefit from being a part of going forward.”
“Tor Olav Trøim and his teams have been pioneers in the global shipping and energy industries,” continued Edens. “The addition of this great portfolio of assets enhances our fully integrated approach and we’re excited for them to become part of NFE. This is a great step towards our goal of finishing this year with fifteen to twenty terminals that bring more clean and affordable energy to growing markets around the world.”
With the acquisition of Hygo, NFE will acquire an operating floating storage and regasification unit (FSRU) terminal and a 50% interest in a 1500MW power plant in Sergipe, Brazil as well as two other FSRU terminals with 1200MW of power in advanced stages in Brazil. Hygo’s fleet consists of a newbuild FSRU and two operating LNG carriers.
NFE will also acquire a leading owner of FSRUs and LNG carriers as well as a pioneer in floating liquefaction technologies with the GMLP transaction. The addition of GMLP’s fleet of six FSRUs, four LNG carriers and a 50% interest in Trains 1 and 2 of the Hilli, a floating liquefaction vessel, is expected to support both NFE’s existing facilities and international project pipeline.
In the previous quarter, energy services companies continued to report drastic falls in value and volume of business. In this quarter, the trend continued and 69% of responding companies indicated the value and volume of business was below normal. This is a slight improvement from 75% in last quarter.
DNV GL, the assurance and risk management company, has announced that it will change its name to DNV on 1 March 2021. The move comes after a comprehensive review of the company’s strategy as it positions itself for a world in which many of DNV’s markets are undergoing fundamental change.
The International Emissions Trading Association (IETA) has indicated that it welcomes the decision by the Executive Board of the Clean Development Mechanism to temporarily extend CDM operations past the end of 2020. This means that projects can continue to operate while negotiators complete the rulebook for Article 6 of the Paris Climate Agreement and decide on the future of the CDM at COP26 in Glasgow next year.