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Shell’s giant floating LNG facility Prelude set to ship first cargo when mooring issues resolved

The article below was brought to my attention by industry experts, one of whom made the following comment:

XXXXX was shocked when he read this as the damage to the mooring system was much worse than he originally thought from reports, it appears it may have been the mooring system that has caused delays not so much the process.

Peter Milne: West Australian: Wednesday, 5 June 2019 6:45AM

The giant Prelude floating LNG facility is close to exporting its first LNG, almost two years after it arrived in Australian waters from Korea during which it has had several problems bringing vessels alongside.

Shell director of gas and new energies Maarten Wetselaar yesterday told investors that Prelude had been producing LNG for more than a week and the first shipment of LNG was imminent.

The Spanish LNG carrier Valencia Knutsen, which was moored off Darwin for some days, yesterday moved to the vicinity of Prelude, 475km north-east of Broome, according to vessel tracking site Marine Traffic. read more

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Reuters: Shipping of first LNG cargo from Australia’s Prelude project is “imminent” – Shell

JUNE 4, 2019

LONDON, June 4 (Reuters) – Shipment of the first liquefied natural gas (LNG) cargo from the long-awaited Prelude floating production project in Australia is “imminent”, Royal Dutch Shell said on Tuesday.

Prelude – the world’s biggest floating LNG production unit and the biggest maritime vessel ever built – is expected to have an annual LNG production capacity of 3.6 million tonnes.

It will also produce 1.3 million tonnes a year of condensate and 400,000 tonnes a year of liquefied petroleum gas (LPG). read more

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FT: Cash boost primes Shell for more spending

The Anglo-Dutch energy major has, like its peers, spent the last few years cutting costs as it recovered from the 2014 oil price crash. It has also sought to cut debt after its $53bn deal for BG Group in 2016. Shell, in strategy update on Tuesday, said it planned to invest $30bn per year between 2021-25, up from a prior range of $25—30bn.

READ MORE

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Shell Management Day 2019

Management Day 2019: Shell, Strongly Positioned for the Future of Energy, Provides Strategy Update and Financial Outlook to 2025

SHELL CEO BEN VAN BEURDEN

NEWS PROVIDED BY

Royal Dutch Shell plc

Jun 04, 2019, 02:12 ET

Shell refreshes strategy for the energy future as it builds on strong foundation

The company is on track to deliver on its 2020 commitments; now increases organic free cash flow outlook to around $35 billion for 2025 at $60 per barrel (real terms, 2016)

Shell’s expected cash delivery creates the potential to distribute $125 billion or more to shareholders (dividends and share buybacks) over the five-year period of 2021-2025 read more

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Reuters: Shell eyes dividend and spending boost after 2020

Ron Bousso: JUNE 4, 2019

LONDON (Reuters) – Royal Dutch Shell on Tuesday outlined plans to increase spending and dividends after 2020 in a show of confidence by the energy company despite an uncertain outlook for oil and gas prices.

In a strategy update, the Anglo-Dutch company said it was on track to deliver its previous commitments to increase cash generation and carry out one of the world’s largest share buyback programs of $25 billion by the end of next year.

Shell, the world’s second-largest listed oil and gas company after Exxon Mobil, underwent deep cost cuts following the 2016 acquisition of smaller rival BG Group for $53 billion and the collapse of oil prices in late 2014. read more

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Seeking Alpha: Dutch regulator wants Groningen gas production cut faster than planned

|About: Royal Dutch Shell plc (RDS.A)| By , SA News Editor

Production at the Groningen natural gas field in the Netherlands needs to be cut faster than planned, Dutch gas sector regulator SodM says after a 3.4 magnitude earthquake hit the region last week.

“From a safety perspective, SodM recommends that not more than 12B cm be extracted from the Groningen gas field in the following gas year in the event of an average winter,” the regulator says. read more

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Shell Prelude, suddenly, everything is not so tickety-boo

Reading Rob Jäger, who I knew in Shell many years past, is like listening somewhat to my comments about Prelude starting way back in 2012 or so being replayed and replayed………suddenly, everything is not so tickety-boo. Think it’s telling that this historically proud, nay boastful and confident project so sure and aware of itself in the past is so reluctant to give a firm start-up date for LNG and so reluctant to just tell the world why?

By retired Shell Global Safety Consultant, Bill Campbell

Just some background thoughts, we all wish this project well but there is a lot that doesn’t appear to stack up in the Jager piece

Reading Rob Jäger, who I knew in Shell many years past, is like listening somewhat to my comments about Prelude starting way back in 2012 or so being replayed and replayed………suddenly, everything is not so tickety-boo.  Rob talks about safety and risk so underplayed before, he talks about large vessel but small area for LNG plant so underplayed before, he talks about risk almost discounted before because Prelude was so safe , now Safety, safety is the key, its the first project by the way in the long history of Shell that is in his words NOT driven by milestones and schedule, sorry don’t believe a word of it. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell Prelude boss Rob Jager talks about the world’s biggest offshore facility

Peter Milne: The West Australian Thursday, 23 May 2019 11:29PM

Shell veteran Rob Jager had been contemplating retirement in his native New Zealand when he got called up to take responsibility for the world’s biggest offshore facility.

When he arrived in Perth in November, Shell’s 488m-long Prelude floating LNG project had been moored to the seabed off the Kimberley for 12 months and was yet to produce.

Six months later, Prelude has produced condensate. It is still to churn out LNG but when Mr Jager,right, talks about the project there is one point he makes above all else: “We’re not driven by milestones, we’re not driven by schedule, we’re driven … to make sure that it’s safe to start up.” read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Major Earthquake in Groningen Induced by NAM Shell/Exxon JV

NAM is the Shell/Exxon Joint Venture company responsible for the earthquake blighted Groningen Gas Field and consequential potential bill for untold billions to deal with damaged residences.

English translation of an article published 22 May 2019 by De Telegraaf

Major earthquake in Groningen: “Bed quivered, everyone awake”

Updated Yesterday, 9:26 AM
Yesterday, 6:38 AM in the UK

GRONINGEN – The province of Groningen was shocked early on Wednesday morning by an earthquake. This had a power of 3.4, according to the KNMI. According to the meteorological service, the epicentre of the quake was in the village of Westerwijtwerd. That lies as the crow flies about 18 kilometres northeast of the capital Groningen.

The worst earthquake in Groningen so far was in 2012 in Huizinge (in the municipality of Loppersum). It had a power of 3.6. In January an earthquake occurred in the Groningen village of Zeerijp. It also had a power of 3.4. The day after that quake, about a thousand reports of damage arrived. According to the KNMI, this new quake will most likely again cause many damage reports. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com

Shell Nederland admits paying no tax on profits, due to Dutch system

MAY 22 2019

Anglo Dutch Oil and gas giant Shell has admitted paying no tax on profits earned in the Netherlands in an interview with current affairs magazine Elsevier.

In the interview, Shell Nederland president Marjan van Loon and Alan McLean, the multinational’s executive vice-president taxation, say that even though Shell Nederland makes a profit – €1.3bn in 2017 – the company is loss making, ‘as a natural consequence of the Dutch tax system’.

In the Netherlands Shell, McLean told the magazine, ‘pays fair tax in line with both the letter and the spirit of the law.’ read more

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Culture of fear at Shell Nyhamna Gas plant: Safety delegates ended up in psychiatric ward

Runar Kjørsvik was the chief safety officer at the Shell Nyhamna Gas facility until he was fired. Bjørn Tore Røshol took over the office. Both struggle with the psychological after-effects of a culture of fear at the facility. Their stories are quite similar. 

English translation of an article published by Stavanger Aftenblad on 11 May 2019.

Shell safety delegates ended up in a psychiatric ward. They tried to clean up Shell. They ended up with psychiatric chaos in their heads.

Foreign Skarsaune: JOURNALIST
Jon Ingemundsen: PHOTOGRAPH UPDATED: PUBLISHED: 11 MAY 2019 07:41

In the corner of the waiting room are two men. The chair between them is empty. It is quiet at the psychiatric outpatient clinic in Molde.

Bjørn Tore Røshol, left, and Runar Kjørsvik is sitting in the waiting room at the district psychiatric center in Molde. Photo: JON INGEMUNDSEN

They go here regularly. That they have hour at the same time this day is random. But that they are here, they think is not random. Both have been the main safety delegate at Shell’s gas facility at Nyhamna outside Molde. Both struggle with psychological after-effects. Their stories are quite similar: read more

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THE TIMES: Saudis buy Shell stake in refinery

Saudi Arabia’s state oil group has agreed to pay almost £500 million to Royal Dutch Shell to buy it out of an oil refinery joint venture on the Gulf.

Saudi Aramco will buy Shell’s 50 per cent stake in the plant, ending a 30-year joint venture, as it expands its refining and petrochemical operations in a drive to become the world’s largest energy company.

Saudi Aramco is the world’s biggest oil company, pumping more than 10 million barrels per day last year. The acquisition, for $631 million, is due to complete later this year. read more

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FT: Shell’s power game

The oversupplied gas market provides the logic for the company’s move downstream

Since Maarten Wetselaar, Royal Dutch Shell’s director of gas and new energies, suggested a few weeks ago that Shell could be “by far the biggest power company in the world” by 2035 as it moves into electricity, oil and gas rivals have been asking if they should be doing the same. Existing power suppliers have begun to worry about whether their business models are secure.

Want to read more?

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Gazprom and Shell sign Memorandum to construct third production train of Sakhalin II LNG plant

FRIDAY 19 APRIL 2019

Gazprom and Shell have signed a Memorandum to construct the third production train of the LNG plant (Sakhalin II), as well as the Agreement of Strategic Cooperation.

Royal Dutch Shell is a British-Dutch oil and gas holding company focused on hydrocarbon production, processing and marketing in more than 70 countries.

Gazprom and Shell are jointly engaged in the Sakhalin II project, which includes Russia’s first LNG plant. The project operator of Sakhalin II is Sakhalin Energy (Gazprom – 50 per cent plus one share, Shell – 27.5 per cent minus one share, Mitsui – 12.5 per cent, and Mitsubishi – 10 per cent). read more

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Shell is stepping out of a mega project with Gazprom

Printed below is an English translation of an article published today by the Dutch FT, Financieele Dagblad.

Shell is stepping out of a mega project with Gazprom

By Joost Bosman

Energy group Shell is withdrawing from the construction of an LNG plant on the Russian Baltic coast. The Russian partner Gazprom announced at the end of March that, in addition to the installation, it would also like to build a factory that can process fat gas from Western Siberia. The Anglo-Dutch oil company does not feel like that.

“Following Gazprom’s announcement on March 29 about the final development concept of Baltic LNG, we decided to stop our involvement in this project,” said Cederic Cremers, President of Shell Russia, in a statement. read more

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Reuters Exclusive: Arrival of Putin’s judo partner squeezed Shell out of LNG project – sources

Shell said that its other joint projects in Russia — chief among them the Gazprom-led Sakhalin-2 LNG plant — would be unaffected by its exit from the Baltic LNG project. But Shell’s involvement in Sakhalin expires this month. Unless the Russian government decides to extend the Sakhalin deal, Shell’s portfolio of Russian projects will be left looking thin.

Dmitry Zhdannikov, Olesya Astakhova: April 11, 2019: 7.07 PM LONDON/MOSCOW (Reuters) – Royal Dutch Shell pulled out of a project to build a Russian liquefied natural gas plant partly because Gazprom suddenly added another partner with links to an ally of President Vladimir Putin, according to five sources. 

After three years work on the Baltic Coast project, Shell discovered that Gazprom was bringing in a company linked to Arkady Rotenberg, who is on a U.S. sanctions blacklist.

The sudden change in the line-up of partners was one of the key factors contributing to Shell’s Wednesday announcement that it was pulling out of the project, according to three sources close to Shell and two other sources familiar with the project.

Asked to comment on the reasons for withdrawing, a Shell spokesman said it had nothing to add to a previous statement that said its exit followed Gazprom’s announcement last month of its final concept for the project. Gazprom spokesman Sergei Kupriyanov said the company was not commenting. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net, shell2004.com, shellshareholders.org, don-marketing.com and cybergriping.com are all owned by John Donovan. There is also a Wikipedia article: royaldutchshellplc.com
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