Week 91 Natural Gas Report

The Weekly Natural Gas Review is your resource for understanding where the natural gas market is and how it has developed.

By Anon

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Week 91 Natural Gas Report

Timipre Sylva, Nigeria's Minister of State for Petroleum Resources, said he has petitioned the Organization of Petroleum Exporting Countries and its allies, known as OPEC+, for an increase in Nigeria's oil output quota.

According to the Minister, the country's full production capacity of about 2.2 million barrels per day should be reflected in a revised quota.

The country's production struggles are due to technical issues from re-tapping reservoirs that had been shut to comply with the stringent OPEC+ cuts of the previous 17 months, adding that the country's production struggles would be resolved soon.


Reuters reported on Friday that Russia's Gazprom announced that it has begun transferring gas to Hungary and Croatia via the TurkStream pipeline.

Russia's gas supplies to Hungary via the TurkStream pipeline have irritated Ukraine, which has lost part of its transit income and is no longer able to import reverse flow gas from Hungary.

The Kremlin also said on Friday that German officials were still working on certifying the Nord Stream 2 natural gas pipeline to Germany. The CEO of German utility Uniper has stated that an operational license for the undersea pipeline would not be provided swiftly.


On Friday, Reuters reported that the European gas prices soared to all-time highs as Russia tightened supply, suggesting increased pricing pressures on European consumers as the winter heating season approaches.

According to data from grid operator Gascade, Russian gas deliveries via the Yamal-Europe pipeline decreased by about 77 percent on Friday compared to Thursday, as Kremlin-controlled Gazprom booked only a third of its available capacity for October.

The decline comes at a critical time for Europeans, who are dealing with rising electricity expenses and a supply shortage.



Oil prices continued to rise from Tuesday, hitting $76 for the first time since July 2021, owing to rising gasoline demand. The increase was fueled by a massive drop in US crude stocks as well as production issues in the Gulf of Mexico.

Brent crude, Nigeria's benchmark, rose nine cents, or 0.1 percent, to $76.28 a barrel, while West Texas Intermediate (WTI) crude rose four cents, or 0.1 percent, to $72.27 a barrel, following data from the US Energy Information Administration (EIA) showing the country's crude stocks fell by 3.5 million barrels to 414 million barrels through September 17, the lowest total since October 2018.



PETRONAS LNG Ltd, a PETRONAS subsidiary, has agreed to provide three carbon-neutral LNG cargoes from the PETRONAS LNG Complex (PLC) in Bintulu, Sarawak, to China's Shenergy Group Company Limited.

Between October 2021 and March 2022, PETRONAS will transport the first carbon-neutral LNG to China, to Shenergy's facilities in Shanghai. PETRONAS delivered its first carbon-neutral LNG cargo to Japan last month.

"PETRONAS is happy to enhance our 15-year cooperation with Shenergy that now includes the provision of carbon-neutral LNG, highlighting our commitment to provide decarbonised LNG solutions to the market," said Shamsairi Ibrahim, PETRONAS Vice President of LNG Marketing & Trading.


Gasum bunkered LNG to Le Commandant Charcot, PONANT's latest LNG-fueled new-build polar explorer, on September 24 in the port of Le Havre, France. This was Gasum's first LNG delivery in France, as well as the port of Le Havre's first LNG bunker operation.

Gasum, a French energy business, has delivered LNG as a maritime fuel to La Compagnie du PONANT (PONANT), a luxury cruise line based in Le Havre, France. On September 24, 2021, the LNG was delivered to PONANT's newly built polar explorer Le Commandant Charcot during its first call to a French port.

This bunker operation was Gasum's first LNG delivery in France, and it marked another step forward in the company's expansion.


Following a request from Bulgargaz, the Balkan country's principal gas provider and public supplier, Bulgaria's energy regulator said on Friday that it has granted a 36.2 per cent rise in the wholesale natural gas price starting in October.

Natural gas prices have surged this year in Europe and the United States, driving up fuel costs, increasing inflationary pressures, and threatening to erode consumer confidence.

The price surge is due to low storage inventories, rising gas demand in Asia, less Russian and liquefied natural gas (LNG) supply to Europe than usual, high carbon pricing, and outages.




Royal Dutch Shell is scheduled to sell its Permian Basin assets to ConocoPhillips for $9.5 billion in cash, marking the company's withdrawal from the country's largest oilfield. The company is now focusing on the sustainable energy transition.

Earlier this year, the business announced that it would begin a massive divestiture of its Nigerian assets, particularly those in shallow water and onshore, in a deal that might be one of the largest ever in the African oil and gas industry.

Chief Timipre Sylva, Minister of State for Petroleum Resources, and Shell executives have affirmed that talks are progressing, despite a recent report claiming that certain snags were delaying the talks.


Qatar Petroleum has signed a long-term Sales and Purchase Agreement (SPA) with CNOOC Gas and Power Trading & Marketing Limited, a subsidiary of China National Offshore Oil Corporation (CNOOC), for the sale of 3.5 million tonnes per annum of LNG beginning in January 2022.

CNOOC and Qatar have been working together since September 2009, when the first LNG cargo was delivered to CNOOC in China. Qatar has delivered a total of 715 LNG cargoes to China as of August 2021, with 270 cargoes (more than 24 million t of LNG) going to CNOOC.

His Excellency Mr. Saad Sherida Al-Kaabi, Minister of State for Energy Affairs and President and CEO of Qatar Petroleum, and Mr. Wang Dongjin, Chairman of CNOOC, signed the SPA in a virtual ceremony.


Reuters reported that BP (BP.L) and Eni (ENI.MI) are looking to fund up to $2 billion for their new oil and gas joint venture in Angola, as part of a debt-reduction strategy to assist grow renewables, banking, and industry.

In May, BP and Eni revealed that they were in talks to merge their Angolan oil, gas, and liquefied natural gas (LNG) activities to become one of Africa's largest energy corporations. Spinning off oil and gas assets is considered as a method for companies to get more value out of them as they aim to minimize greenhouse gas emissions and migrate to renewable energy sources.

It' is also considered as a means for the parent firm to transfer debt to the independent joint venture, making it easier for the parent company to raise funds for low-carbon ventures. BP and Eni have approached a number of major Western banks in recent weeks to obtain ideas for a $1.5-$2 billion capital raise for the joint venture.



The Nigerian LPG Market is the next success story of the Global LPG industry, if you need a partner with a global perspective and local expertise in the Nigerian and African space, kindly book for a free session with our team of experts to help you http://www.kiakiagas.com/book-session or write us an email at advisory@kiakiagas.com or Whatsapp: +2348085269328


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A crucial component of human life is energy. Reliable access to modern, reasonably priced energy is essential for a country's social and economic development. Traditional dirty-burning fuels used for cooking, such as coal, wood, and kerosene, produce large amounts of pollutants and carbon monoxide, which are the main contributors to indoor air pollution and its negative health impacts. Continual use of unclean fuels may result in early deaths, an increase in childhood and adult illnesses, associated environmental problems, and stress on the healthcare system, according to experts. Liquefied petroleum gas (LPG) was found in the search for cooking energy that would protect our environment from pollution. LPG is a type of energy that is used in cooking. It is produced by refining raw natural gas or crude oil that comes only from fossil fuel sources. It is kept and moved in LPG cylinders at a reasonable amount of pressure as a liquid. Propane and butane make up the majority of the gases created during the LPG production process. The first online energy company in Nigeria, Kiakiagas, provides excellent, prompt, and safe delivery of liquefied petroleum gas (LPG) and related products to Nigerian households and businesses. The company has developed into an energy solutions provider, paving the way for a future in which gas will drive the switchover of the African energy sector from fossil fuels to renewable sources, bringing electricity to consumers in the last mile from urban to off-grid areas.
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Liquefied Petroleum Gas (LPG) is widely used for cooking around the world, but to a lesser level in most underdeveloped countries. LPG is a nonrenewable source of energy. However, when compared to cooking with hardwood or charcoal, it is commonly known that using LPG has few recorded negative health impacts. One of the main drivers of deforestation in Sub-Saharan Africa is the demand for firewood and charcoal as a source of cooking energy. Increasing the usage of LPG is one of the options for reducing the strain on forest resources. Cooking with biomass produces both greenhouse gas emissions and indoor pollution from black carbon. Kiakiagas has endeavor to reach different classes of people and orientate them on the benefit of LPG to their health. We also give information about how LPG is a more cost-effective, faster, and environmentally friendly cooking method than conventional methods. Following the increase in gas prices, many individuals were seeking for strategies to extend the life of their cooking gas. It's possible and easy to extend the life of your gas. Utilizing these suggestions will help you save a lot of money. Here, we come with a list on how you can conserve your cooking gas and make it last longer:
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It is well known that the cost of food has climbed significantly in recent months along with the price of cooking gas, making life difficult for a large number of people. For the typical Nigerian household, cooking gas has turned into a luxury good. Bravo if you still have the means to fill yours to the brim! You don't come across people who can easily and comfortably fill up their gas cylinders every day. Every residence is frantically looking for ways to adapt to this change and extend the gas supply. On a more positive side, we have developed useful advice that will lessen how frequently you visit the petrol station. We have heard the word "savings" so frequently that we are accustomed to it. Many things can be saved, but we have no idea how to do it with LPG. Everyone encounters this question on a daily basis. Is there a way to conserve LPG for cooking? There is, and it's not particularly complicated. Your cooking style only needs a few little tweaks here and there to work. To learn some crucial advice on how to conserve household LPG, scroll down.