Weekly HEG Global Energy Digest

Oil Market:

China finds huge 1-billion-ton oil reserve in Xinjiang

A new oil field with around 1 billion ton of petroleum was discovered in China’s Xinjiang Uighur Autonomous Region.

Petro China, one of the country’s most important energy firms, found the field in Ma lake area of Jungar (Dzungarian) Basin situated north of the region. The oil land is considered as one of the biggest crude reserves in the world.
In the last two years, Petro China has produced 1.38 million tons of crude oil in Xinjiang, and intends to increase its production from the region to 6 million tons, according to the country’s 13th five-year development plan (2016-2020).
The independent region lies to the northwest of China, the largest energy consumer globally. It has different resources counting gold, platinum, silver, uranium and coal, in addition to oil.
Various factors, such as region’s resources, cheaper labor and strategic geographical position, which offer China direct link to Central Asian countries as well as Afghanistan and Pakistan, led to an economic expansion in Xinjiang over the last ten years. This growth attracted internal migration of Han Chinese from the nation’s eastern areas, leading to conflicts with Uighur community.

Article Source: http://www.energymarketprice.com/energy-news/a-new-oil-field-with-around-1-billion-ton-of-petroleum-was-discovered-in-china-s-xinjiang-uighur-autonomous-region-


Klaipeda LNG terminal offers advantages for Lithuania

Security of supply in Lithuania has been assured through the country’s LNG terminal in Klaipeda, according to Jusius Mindaugas, CEO of LNG operator Klaipedos Nafta.

Over a half of Lithuania’s total gas imports in 2016 came via the Klapeida terminal.
The unit is currently functioning with high capacity. The reason the terminal was created is the security of supply, offering Lithuanians the possibility to access freely LNG in different locations all over the world.
During the year, the Baltic nation obtained four cargoes from continents such as North America, South America, Europe and Africa.
Vytautas Cekanavicius, CEO of Litgas speaking at the 9th Baltic Energy Summit in Lithuania’s capital Vilnius affirmed that the worst times have already passed for Lithuania in terms of security of energy supplies as the country imports LNG since December 2014 to cut its reliance on Russian gas.
The Litgas official also declared: “The times when we were paying high prices for gas to Russia is also over. Our companies are looking for alternatives. What we see is that during the last three years, consumption is quite stable.” Also, he emphasized that this achievement came with hard effort as well as months of negotiation convincing LNG suppliers to involve in trade. He added that trade in spot transactions is possible now and is much easier.
At present, Lithuania’s gas demand accounts for 2.5 billion cubic meters while the LNG terminal obtains its primary cargo from Norway. In 2012, the country’s needs were higher, the gas demand being estimated at 3 billion cubic meters.

Article Source: http://www.energymarketprice.com/energy-news/klaipeda-lng-terminal-offers-advantages-for-lithuania



Toyota to construct the first MW-scale hydrogen fuel plant

Toyota intends to construct in California what it considers to be the first in the world MW-scale green energy and hydrogen generation facility.

The vehicle producer will utilize the Tri-Gen site to convert bio-waste into water, electricity and hydrogen to run its operations at the Port of Long Beach.
When it starts operating in 2020, it is likely to produce approximately 2.35MW of electricity and 1.2 tonnes of hydrogen per day, enough to power the equivalent of around 2,350 average-sized households and satisfy the daily driving needs of almost 1,500 vehicles.
Toyota’s fuel cell vehicles in the port, counting new deliveries of the Mirai sedan and its heavy duty hydrogen truck, will be supplied by the plant.
Doug Murtha, Group Vice President of Strategic Planning, declared: “For more than 20 years, Toyota has been leading the development of fuel cell technology because we understand the tremendous potential to reduce emissions and improve society. Tri-Gen is a major step forward for sustainable mobility and a key accomplishment of our 2050 environmental challenge to achieve net-zero carbon dioxide emissions from our operations.”

Article Source: http://www.energymarketprice.com/energy-news/toyota-to-created-first-mw-scale-hydrogen-fuel-plant



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