GLG News by LNG Experts

Michael LynchConsultantMichael E. Lynch

Gazprom rings Nord Stream bell at Lubmin, Germany

November 15, 2011

Analysis of:Gas begins flowing through Nord Stream Line 1 | www.offshore-mag.com

After five years of struggling to obtain rights-of-way and environmental clearances, and overcoming the physical and logistical difficulties of working on the Baltic’s seabed, Gazprom began construction of the Nord Stream natural gas pipeline in April 2010. Today the first line is running gas. By late-2012, the second line will be completed. This is good news for Europe and it comes just in time for winter.

Hans LinhardtPresidentLTDI, Inc.

Two global energy pipeline projects deserve attention

November 15, 2011

In the week of November 6, two significant geopolitical events took place.  First, the Russian-German-E.U. Nord Stream natural gas pipeline was inaugurated and second, the Canadian-U.S. Keystone XL oil pipeline project was put on hold until after the election.

Michael LynchConsultantMichael E. Lynch

Shale gas glut offers an opportunity to change the U.S. transportation fuel market

November 14, 2011

Analysis of:Can America Use All This Natural Gas From Shale? | www.rigzone

When the development of shale gas fields began, the U.S. faced natural gas shortages as conventional fields declined. Today, shale gas development has been so rapid in so many regions that in just a few years prices have fallen from over $10/million btu to below $4/million btu. With more gas wells being drilled every day, the glut promises to endure.

Michael LynchConsultantMichael E. Lynch

The world has plenty of shale oil and gas but there are catches

November 10, 2011

Analysis of:ExxonMobil Exec: US Shale Boom Will Spread Across the Globe | www.rigzone.com

All geologists realize that oil and gas deposits, both conventional and non-conventional, exist beneath land and sea worldwide. Conventional resources tend to have relatively long lives. Many of the world’s supergiant oil fields have been producing for 50 years or longer. Decline rates tend to be low. That is not true with shale deposits.

Michael LynchConsultantMichael E. Lynch

Gazprom holds high ground in E. U. dispute

November 9, 2011

Analysis of:Gazprom: EU Wrong to Assume Company Behaves Anticompetively | www.rigzone.com

European Union (E.U.) authorities raided gas companies in central and eastern Europe looking for evidence that Gazprom is not complying with E.U. competition rules. Gazprom’s deputy chief executive Alexander Medvedev, at the official opening of the Nord Stream pipeline, said European authorities were wrong to assume that it does not comply with the rules.

Michael LynchConsultantMichael E. Lynch

BP-Bridas Argentina deal collapses

November 8, 2011

Analysis of:BP's $7 B Argentina Asset Sale Collapses; Bridas Cancels Talks | www.rigzone.com

In November 2010, BP agreed to sell Pan American Energy properties to Bridas/CNOOC. It was a time of financial stress for BP and raising money was  imperative to cover the costs of the Macondo spill. Crude oil was trading in the $75-85/bbl range which didn’t reflect the value of the properties given expectations of higher demand in the future. Still, BP was in a bind and the Argentine assets were pretty good.

Michael LynchConsultantMichael E. Lynch

Iran plans development of Dariyan C formation in South Pars

November 7, 2011

Analysis of:Iran open to oil extraction from South Pars | www.offshore-mag.com

The first indication of an oil zone in South Pars came when the National Iranian Oil Company released a country-wide reserves report at the end of 1999. No details were given except original oil in place and an estimate of what might be recovered. The Dariyan is a known productive horizon in both the Rig and the Khaviz fields.

Michael LynchConsultantMichael E. Lynch

Venoco continues to expand development of its Monterey shale acreage

November 7, 2011

Analysis of:Venoco delineates Sevier Monterey shale oil field | www.ogj.com

Venoco began leasing Monterey shale acreage in 2006 and the company now holds 214,000 net acres in the Salinas Valley, Sevier, Santa Maria, South Elmwood and the San Joaquin. Both Sevier and San Joaquin are under delineation but the company appears ready to concentrate on vertical development of its 8,400 acres in Sevier. Four wells have been drilled and a fifth will spud before year end.

Michael LynchConsultantMichael E. Lynch

Serica Energy takes a chance on four long shots north of Kudu gas field

November 4, 2011

Analysis of:Serica Picks Up 4 Blocks Offshore Namibia | www.rigzone.com

The giant discoveries below the salt in the Santos Basin of Brazil have caused speculation that similar fields can be found in the deep waters offshore West Africa. Angola, Gabon and Congo Brazzaville look to be the best prospects but Namibia has received attention too.

Michael LynchConsultantMichael E. Lynch

BG Group picks new CEO to manage Cheniere LNG project

November 3, 2011

Analysis of:BG-Cheniere LNG Deal Opens Asian Gas Markets to US Producers | www.rigzone.com

The Cheniere LNG receiving terminal was a huge investment defeated by the ongoing U.S. shale gas boom. Built in the expectation of steady natural gas price appreciation because of the rapid decline of conventional reservoirs, BG Group has been frustrated by the current gas glut. The company’s agreement with Cheniere to purchase 3.5 million tonnes of LNG/year gives beleaguered Cheniere an $8 billion injection of funds with which to convert the receiving terminal to a liquefaction plant.

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