Oil & gas on energy security duty

Oil & gas on energy security duty

The general consensus among the majority of energy analysts is that oil, gas, and LNG will continue to be needed for the sake of ensuring the security of energy supplies, with demand forecast to keep going up in the years ahead. While more oil and gas exploration and production is seen as necessary by many, most agree the new barrels should be low-carbon with the ultimate goal of reaching zero-carbon status. Therefore, the hydrocarbon sector is urged to up its decarbonization ante in 2025.


The global energy industry has made progress on many fronts, including its decarbonization journey, in 2024, underpinned by record-high renewable energy installations, the use of artificial intelligence (AI) across energy systems, and decarbonization technologies. The International Renewable Energy Agency (IRENA) outlined that the global renewable energy capacity surpassed 300 GW, while more than 50 large-scale hydrogen projects got sanctioned as investments topped $200 billion. All these steps have been taken to accelerate the shift toward a more sustainable future.

One of the technologies being used to curb greenhouse gas (GHG) emissions not only from the energy sector but also the hard-to-abate ones, is carbon capture and storage (CCS), which widened its global footprint, capturing 15% more carbon dioxide than last year with over 45 million tons annually. Next year is expected to bring further changes across the energy/LNG landscape.

According to the International Energy Agency (IEA), the world is poised to enter a new energy market context in the coming years, marked by geopolitical hazards but also a relatively abundant supply of multiple fuels and technologies. This includes an ample supply of oil and LNG alongside excess manufacturing capacity for some clean energy technologies, such as solar PV and batteries, putting downward pressure on energy prices, depending on how geopolitical tensions evolve.

The IEA's outlook indicates that clean energy will keep growing at pace if greater investment is poured into new energy systems, especially in electricity grids and energy storage. The International Energy Agency claims that the world is still a long way from a trajectory aligned with its net zero goals, especially in some regions, such as developing economies, where high financing costs and project risks limit the spread of cost-competitive clean energy technologies. At the same time, the lack of access to energy remains the most fundamental inequity in today’s energy system with 750 million people, predominantly in sub-Saharan Africa, without access to electricity and over 2 billion without clean cooking fuels.

Given the level of importance assigned to LNG in numerous energy sector decarbonization pathway analyses, the Natural Allies Leadership Council, including former Senator Mary Landrieu (D-LA), former Congressman Tim Ryan (D-OH), former Congressman Kendrick Meek (D-FL), and former Philadelphia Mayor Michael Nutter, found the Biden Administration’s report concerning U.S. liquefied natural gas export terminals "deeply disappointing," perceiving it as an assault on the exportation of U.S. LNG. They argue that multiple reports have shown the benefits of increased natural gas exports in reducing global emissions and strengthening America’s national security.

"There is a strong consensus that increased U.S. LNG exports will not adversely impact domestic prices. In fact, we have a decade of federal data proving that rising U.S. LNG exports have not caused price spikes for Americans or impacted industrial competitiveness, even as the United States has become the world’s largest exporter. The Biden Administration’s false alarms of rising prices don’t hold up based on recent history. Experts used similar scare tactics over a decade ago, projecting prices would rise by 50%, but in fact domestic prices have remained flat," according to the Natural Allies Leadership Council.

It is said that putting limits on U.S. LNG exports risks up to 900,00 American jobs, empowers Russia and Iran with fewer environmental safeguards, and abdicates U.S. leadership on mitigating global climate change, as developing countries will largely default to coal without U.S. LNG. Based on a recent ICF study, the world would have seen 112 million more tons of greenhouse gas emissions (GHG) without U.S. LNG in 2022, as LNG would have been replaced with coal and oil rather than wind or solar.

"Democrats must stop playing to the extremes and come together on a practical energy policy that balances our climate priorities, American jobs, affordability, and global security, all of which are served by natural gas partnered with renewables,” underlined the Natural Allies Leadership Council.

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? TotalEnergies has extended a semi-submersible rig's stay in Africa. This rig is owned by Northern Ocean Ltd. and managed by Odfjell Drilling .

? Harbour Energy has found hydrocarbons at its recently drilled prospect in the UK sector of the North Sea.

? Aker BP ASA has been cleared to drill two exploration wells off the coast of Norway, with Saipem 's semi-submersible rig.

? Noble Corporation 's drillship is gearing up for its new offshore drilling job in the Gulf of Mexico.

? Two Noble Corporation 's rigs and one of Stena Drilling 's drillships have restarted drilling activities at the Stabroek block, which allow 埃克森美孚 's ExxonMobil Guyana to explore further Guyana's oil and natural gas potential.

? Constellation Oil Services recently got an additional job with Petrobras for its semi-submersible rig, which will continue working in Brazil.

? ADNOC Drilling , 斯伦贝谢 , and Patterson-UTI created Turnwell Industries as the UAE rig owner's unconventional drilling arm, which has already delivered the first set of wells, thanks to a $1.7 billion contract to allow the UAE to unlock its unconventional oil and natural gas resources to meet growing global demand for energy.

? ADNOC Drilling has confirmed the arrival of two premium offshore jack-up rigs in the UAE, as part of its fleet expansion program to support ADNOC Group 's targetted production capacity growth.

? Seadrill has divested a jack-up rig, which was stacked since 2016, enabling it to see its strategy to the end and exit the benign jack-up market.

? ADES - Advanced Energy Systems 's multi-year drilling assignment will enable its jack-up rig to work for PTTEP offshore Thailand.

? One of Noble Corporation 's semi-submersible rigs got a drilling job offshore Suriname with PETRONAS .


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? bp has put Seatrium in charge of engineering, procurement, construction, and onshore commissioning assignment for a newbuild floating production unit (FPU), which will be deployed on its deepwater project in the U.S. Gulf of Mexico.

? PTTEP plans to dish out $33.58 billion during the 2025–2029 period to bolster its core exploration and production (E&P) business and boost its toolbox to hit net zero greenhouse gas emissions by 2050.

? China National Offshore Oil Corp. has brought online an oil development project in Bohai Sea off the coast of China.

? Gazprom has outlined that its investment program and budget for next year will be used to bolster its natural gas arsenal. The budget plan for the next year envisions a RUB 1.52 trillion (almost $15.22 billion) investment scheme. This is about 7% lower than the planned spending of RUB 1.64 trillion (nearly $16.43 billion) earmarked for 2024.

? Santos Ltd 's revised environment plan has received the Australian offshore regulator's blessing, enabling the firm to undertake activities required to start offshore production from a new well that will replace an existing one at the company's gas hub.

? Saipem is now back in Brazil's oil and gas game after two years since the suspension was lifted, allowing the firm to participate in contracting activity with the country’s public administration.

? One of Saipem’s pipelay vessels has embarked on a journey to Türkiye to undertake offshore pipeline installation for the next phase of the country's largest natural gas field in the Black Sea.

? Subsea7 's new deal with TP-OTC will enable it to provide inspection, repair, and maintenance (IRM) services at the same natural gas field.

? An FPSO, owned by a joint venture (JV) consisting of PTSC and Yinson 's Yinson Production , will stay longer offshore Vietnam in Southeast Asia, where it has been operating since 2014.

? BRAVA Energia has been a busy bee on multiple fronts. Over the past couple of days, the firm secured the go-ahead for the start of FPSO operations, reinstated production from another field, and completed the purchase of stakes in several 壳牌 -operated oil fields offshore Brazil.


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? Measures aimed at curtailing and disrupting the activities of Russia’s ‘shadow’ fleet have been ironed out by 12 European countries in Estonia. The list of 12 countries, which bonded over a shared goal, includes: Denmark, Estonia, Finland, Germany, Iceland, Latvia, Lithuania, the Netherlands, Norway, Poland, Sweden, and the United Kingdom.

? Golar LNG has consolidated its ownership in an FLNG asset by acquiring the stakes held by Seatrium and Black & Veatch . This unit is set to embark on a 20-year assignment in Argentina after it wraps up its current job in Africa.

? Steelhead LNG has launched another legal challenge against Cedar LNG , which is an LNG project on Canada’s West Coast. In relation to this, legal action is being pursued against Pembina Pipeline Corporation and ARC Resources Ltd. concerning an FLNG solution that has been picked for this development.

? Nebula Energy 's AG&P LNG has taken steps to establish a joint venture company with Swan Energy Limited , which will operate in India's liquefied natural gas landscape. The deal is expected to enable the firm to come aboard Swan LNG 's LNG regasification terminal.

? While an acquisition deal has been given the all-clear, as it is interpreted to be “critical” for strengthening the Philippines' energy supply, this is still subject to conditions defined to ensure fair competition and promote transparency.

? Venture Global LNG has achieved another milestone by sending the first LNG cargo from its export facility in Plaquemines Parish, Louisiana.

? Cheniere Energy, Inc. has started LNG production at the next chapter of its Corpus Christi LNG facility in Texas.

? 贝克休斯 has been hired by 柏克德 to supply liquefaction equipment for Woodside Energy 's proposed LNG terminal in Louisiana, United States.

? DTeK Group 's first U.S. liquefied natural gas shipment is anticipated to give a boost to Ukraine’s energy security.

? A new oil and gas condensate discovery has been confirmed by Galp offshore Namibia, putting a Saipem -owned drillship on the move again to drill the next well in the Orange Basin, where the Portuguese firm previously made oil discoveries, alongside Shell and TotalEnergies.


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? The Carbon Removers has won a CO2 storage gig as part of Project Greensand in the Danish sector of the North Sea.

? A second LNG-powered liquid CO2 transport ship, envisioned to service Northern Lights JV 's cross-border CO2 transport and storage facility, which is owned by 壳牌 , Equinor , and TotalEnergies .

? New York's climate action move aims to ensure that major oil and gas players will pick up the $75 billion tab, which will enable the state to create a new climate fund to boost environmental protection laws.

“?????? ?????????????? ???????????? ?????????????????? ?????? ???? ?????? ??????, ?????? ?????? ???????? ?????? ?????????? ?? ???????? ???????? ???????? ???? ?????????? ?????????? ?????? ??????????: ?????? ?????????????????? ???????? ?????????????????????? ?????? ?????? ?????????????? ???????????? ???????? ???? ???????? ??????????????????????. ?????? ?????????? ???????? ?????? ???????? ????????????, ???????????? ???????? ?????????????????? ???????????????? ?????????????? ?????? ?????? ?????? ?????? ???????????????? ???? ???????????? ???????? ?????? ?????????? ???? ?????????????? ?????????????????????? ???????????? ???? ?????????????? ???? ????????????????????????," highlighted New York State Senator Liz Krueger.
“????????, ?????? ?????????????????????? ???? ?????? ?????????? ???? ?????? ???????? – ?????? 10???? ?????????????? ?????????????? ???? ?????? ?????????? – ?????? ???????????????? ?????? ????????????????????, ?????? ?? ???????? ???? ???????? ???????? ?????????????????? ???????? ??????????: ?????? ????????????’?? ?????????????? ?????????????? ?????????????????? ???????? ?? ???????????? ???????????????????????????? ?????? ???????????????? ?????? ?????????????? ????????????, ?????? ???????? ???????? ?????? ?????????? ???????? ?????????? ???? ???????? ?????????????? ?????? ?????????????? ???????? ???????? ?????? ????????????????????????. ?????? ??????????’?? ???? ???????????????? ???????? ?????????? ???????????????????????? ?????? ????????, ?????? ???????? ?????? ??????????????.“

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Andres Cardenas

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