Nigerian Government to make huge investment in Gas, Oil.

Gas is expected to lead the $100 billion investment by the Federal Government of Nigeria as part of its efforts to revive the oil and gas sector for maximum contribution on a continental level. With increased numbers of African players in the Oil and Gas sector, Nigeria must step up to achieve transfer of technology, market exports and meet new global standards. Read more here: https://guardian.ng/news/fg-promises-100-billion-to-boost-oil-gas-investment/

Everybody needs a little help sometimes

Australia, the world’s second largest exporter of LNG is expected to receive gas imports from Japanese firms in a bid to complement the reported shortfalls of gas on its east coast last year. The LNG receiving terminal is expected to meet gas needs of up to three-quarters of New South Wales, Australia’s most populous state. Read more here: https://www.cnbc.com/2018/02/25/gas-shortage-japanese-firms-to-bring-lng-to-australias-east-coast.html

Papua New Guinea: Major Earthquake affects Gas &Oil operations

A 7.5 magnitude earthquake has hit gas operations in Papua New Guinea, causing a forced evacuation of non-technical personnel of a major Gas operator. The earthquake which occurred at around 3.45 am on Monday is said to have damaged buildings, closed oil and gas operations with no casualties involved. Read more here: https://www.smh.com.au/world/asia/major-png-earthquake-halts-oil-gas-operations-20180226-p4z1ud.html

United Nations to host $50 billion agreement between Australia and East Timor over Gas and Oil field

After several years of tension between the two countries over revenue-sharing from Oil and Gas field in the Timor Sea. The governments of Australia and East Timor have agreed to sign a new Maritime Boundaries agreement in New York on March 6. According to local sources in Portugal, East Timor could receive up to 80 percent of revenue from the field if developed. Read more here: https://www.smh.com.au/world/asia/australia-east-timor-agreement-over-50-billion-oil-and-gas-field-20180226-p4z1r2.html

Iran puts a hold to IFLNG Gas export deal

Iran has put on hold its agreement with IFLNG and the National Iranian Oil Company in October, 2017. This is due to criticism from several top-ranking Iranian MPs. The deal was supposed to run for over 20 years. Read more here: https://worldmaritimenews.com/archives/244455/iflngs-gas-export-deal-with-iran-shelved/