Petronet, the operator of India’s Dahei and Kochi LNG import terminals, has managed to push down the price for LNG cargoes from the US Gulf Coast. Tellurian, developer of the Driftwood liquefaction terminal, agreed to deliver cargoes to India at a price of $6 per unit – a much lower price than the price cap for output from India’s Malampaya gas field.
Shell Eastern Trading will likely be Hong Kong’s first supplier of US LNG for use in the 2.5 GW Black Point and 3.7 GW Lamma Island power stations. CAPCO and Hong Kong Electric already struck an LNG supply deal with Shell which covers up to 1.2 million tonnes per annum for 10 years, starting from 2020.
Russia’s Gazprom seeks to end a dispute with Naftogaz Ukrainy before a crucial gas transit contract expires on December 31, 2019. Offering an out-of-court settlement, Gazprom chairman Alexey Miller said he could picture a “zero option” whereby all court proceedings would cease and all lawsuits would be withdrawn.
New offshore wind parks have pushed the share of renewables in the UK past that of fossil fuel power plants over the past three month – a first for the country. Wind farms, solar panels, biomass and hydropower produced a total of 29.5 terawatt hours (TWh) of electricity in Q3-2019 – slightly more than the 29.1 TWh generated from coal, gas and oil.
Pacific Gas & Electric has been cutting off electricity supply to almost 800,000 customers across California to minimize the risk of wild fire. PG&E’s transmission lines have been linked to recent wildfires, and the utility has told those affected they may be without electricity for up to five days.