Following the successful inaugural edition of Natural Gas: Information and Updates, this issue focuses on countries categorized under high concentration natural gas reserves and highlights major market, legal and regulatory developments around the globe. Developments within the Republic of India are covered separately.
High Concentration Areas include Australia, Mexico, Venezuela, Colombia, Brazil, Argentina, Bolivia, Trinidad & Tobago, Kazakhstan, Uzbekistan, Turkmenistan, China, Bangladesh, India, Pakistan, Brunei, Indonesia, Malaysia, Myanmar, East Timor, Thailand, Azerbaijan, Oman, Saudi Arabia, Algeria, Libya, Egypt, Nigeria, Romania, Ukraine, United Kingdom, Italy, Germany and the Netherlands.
GLOBAL SCENARIO
Natural Gas Statistics – High Concentration Countries
- Saudi Arabia: Approximately 288 Tcf of proven natural gas reserves.
- Venezuela: Approximately 195 Tcf of proven reserves, second largest in the Western Hemisphere.
- Nigeria: Approximately 180 Tcf of proven reserves and Africa’s largest reserve holder.
- Algeria: Approximately 159.1 Tcf of proven reserves and significant shale gas resources.
- Australia: Approximately 110 Tcf of proven reserves and 396 Tcf of technically recoverable shale gas.
- Iraq: Approximately 112 Tcf of proven reserves.
- China: Approximately 107 Tcf of proven reserves and rapidly increasing consumption.
- Indonesia: Approximately 141 Tcf of proven reserves.
- Kazakhstan: Approximately 85 Tcf of proven reserves.
- Malaysia: Approximately 83 Tcf of proven reserves.
- Libya: Approximately 52.8 Tcf of proven reserves.
- United Arab Emirates: Approximately 215 Tcf of proven reserves.
- Uzbekistan: Approximately 65 Tcf of proven reserves.
- Kuwait: Approximately 63 Tcf of proven reserves.
- Egypt: Approximately 77 Tcf of proven reserves.
MARKET UPDATES – GLOBAL
Natural Gas Discovery in Ukraine
February 1, 2013
Kulczyk Oil Ventures announced a natural gas discovery at the Krutogorovskoye-7 exploration well in Ukraine.
Queensland Introduces Oil Shale Policy
February 13, 2013
Queensland implemented a new oil shale policy aimed at balancing environmental protection and energy sector investment.
Iran–Pakistan Gas Pipeline Progress
February 27, 2013
Construction of the Iran–Pakistan gas pipeline advanced with completion targeted within twenty-two months.
Iran Reports Major Hydrocarbon Discovery
February 28, 2013
Iran announced hydrocarbon discoveries valued at over USD 400 billion during the preceding year.
China Launches Two Shale Gas Fields
March 16, 2013
China National Petroleum Corporation commenced development of major shale gas projects in Sichuan and Yunnan provinces.
US Considers LNG Exports to Japan
March 28, 2013
The United States considered approvals for shale gas exports to Japan through LNG export projects.
Chevron Signs Long-Term LNG Supply Agreement
March 28, 2013
Chevron agreed to supply LNG from the Wheatstone Project in Australia to Chubu Electric Power Company for up to twenty years.
Turkmenistan Prepares Galkynysh Gas Production
April 1, 2013
Production at the Galkynysh gas field was expected to commence in mid-2013, strengthening regional gas exports.
Indonesia Opens New Oil and Gas Exploration Blocks
May 16, 2013
Indonesia launched bidding for twenty-one exploration blocks, including shale gas and coal bed methane opportunities.
REPUBLIC OF INDIA
India Plans National Shale Resource Mapping
March 9, 2013
The Oil Ministry proposed establishing a specialized agency to map shale gas resources across India.
ONGC and Oil India Bid for Mozambique Gas Assets
March 15, 2013
ONGC Videsh and Oil India pursued acquisition opportunities in Mozambique’s offshore gas sector.
ONGC Invites Private Participation in KG Basin
March 29, 2013
ONGC sought private sector participation for development of marginal gas fields in the Krishna-Godavari Basin.
Reliance Plans Major KG Basin Investment
May 9, 2013
Reliance Industries announced plans to invest more than USD 5 billion in KG-D6 field development.
BP Surrenders Exploration Blocks
May 10, 2013
BP exited twelve Indian exploration blocks due to limited hydrocarbon prospects.
RIL, BP and Niko Discover New Gas Reservoir
May 24, 2013
A significant gas and condensate reservoir was discovered in the KG Basin offshore eastern India.
US LNG Export Policy Benefits India
May 18, 2013
US authorization for LNG exports to non-FTA countries opened opportunities for future shale gas imports into India.
Cairn India Seeks Shale Exploration Rights
May 31, 2013
Cairn India requested permission to explore unconventional shale gas resources in Rajasthan.
NEW GAS FINDINGS
- Ukraine: Natural gas discovery at Krutogorovskoye-7 exploration well.
- India: ONGC announced three significant oil and gas discoveries.
- Pakistan: New gas reserves discovered in Sindh Province.
- Iran: Discovery of a gas field containing approximately 260 Bcf of resources.
- Egypt: Apache Corporation reported three new oil and gas discoveries.
- Qatar: Natural gas discovery made at the 4-North offshore block.
- Australia: Senex Energy announced a new gas discovery near the Moomba-Sydney pipeline.
- Indonesia: Salamander Energy reported a successful exploration discovery at Bedug-1.
LEGAL DEVELOPMENTS
Algeria’s New Hydrocarbon Law
Algeria introduced a revised hydrocarbon framework aimed at attracting foreign investment while maintaining majority ownership through Sonatrach.
RBI Circular on Overseas Oil Sector Investments
The Reserve Bank of India extended automatic route investment benefits to overseas incorporated joint ventures and wholly owned subsidiaries in the oil and gas sector for approved public sector enterprises.
The first natural gas utility was founded in Baltimore in 1816 by Rembrandt Peale, who became fascinated with gas lighting after using it to illuminate exhibits in his museum.
SOURCES
- Norwegian Petroleum Directorate
- U.S. Energy Information Administration
- The International Energy Agency
- Economic Times (India)
- Natural Gas Asia and Europe
DISCLAIMER
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