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Gastech 2023 to feature exclusive roundtable discussions on gas, LNG and hydrogen

A series of 10 invitation-only roundtable discussions will be held as part of the Gastech 2023 conference and exhibition, which will focus on the major themes of energy supply security, low-carbon energy for sustainable global growth, energy transition alliances, and the development of the energy industry workforce globally

The roundtable discussions will see participation from more than 10 energy ministers and 100 C-suite executives from across APAC, Europe, the US, and beyond, to discuss action and tangible solutions accelerating the future of the gas and energy industries and supporting global decarbonisation goals towards a more secure energy future. They will focus on gas, LNG and hydrogen as key enablers and accelerators of the energy transition.

UNEP will host a Roundtable asking: ‘How will the gas and LNG industry make a step change in its decarbonising efforts?’. UNEP OGMP 2.0 manager Giulia Ferrini will be joined by representatives from the Gas Exporting Countries Forum (GECF), Zhero, SLB, the World Bank, the Global Centre for Maritime Decarbonisation, ENGIE, Linde, and TES to debate strategies to tackle the existential issue of methane emissions curbs.

Giulia Ferrini  said, “The oil and gas sector needs to act and curb methane emissions as a first step towards their decarbonisation efforts. It is only through collaboration, accountability, and transparency that industry can be part of the transition to sustainable energy and urgently address the climate crisis.”

A range of measures are already being evaluated, from responsibly produced gas to CCUS to more efficient engines in ships. Convening a broad panel of public and private sector players will ensure that these important questions are not just asked but answered.

A session on ‘Hydrogen - unlocking the off-takers and market signals needed to secure demand’ will be led by Siemens Energy, addressing the critical role of hydrogen in the path to net zero and reducing scope 3 emissions in hard-to-abate sectors. Insights will focus on accelerating APAC’s ability to unlock the roll-out of its hydrogen economy, while balancing decarbonisation, energy security, and affordability.

Anne-Laure de Chammard, member of the Executive Board of Siemens Energy, said, “Engaging in conversations about hydrogen becomes crucial as we seek to shape policies, attract investments, and establish markets. Nevertheless, the road towards a thriving hydrogen economy is complex, requiring careful navigation to ensure tangible benefits for all stakeholders while considering its impact on our planet.”

Key outcomes from the Gastech 2023 Leadership Roundtables will feed into industry reports produced by Wood Mackenzie, with the aim to support the global energy agenda and inspire the industry to develop the crucial strategies required to accelerate energy progress and meet net zero targets.

Simon Flowers, chairman & chief analyst, Wood Mackenzie, said: “The gas outlook remains bullish, for LNG in particular. LNG demand growth, mainly from Asia, requires another 100 mmtpa of new capacity to be built by the mid-2030s on top of that already under construction. While this growth is positive, suppliers also face multiple challenges: margins are at risk from cost inflation, developers must meet growing calls for low-carbon-footprint LNG and securing long-term offtake with Asian buyers is key. I can’t think of a better time and location for the industry to be meeting than in Singapore for this year’s Gastech.”

Gastech takes place from 5-8 September in Singapore. For the opportunity to participate in the Gastech 2023 Leadership Roundtables, apply to become a Gastech Energy Club Member by registering your interest here.

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The consortium will explore in Block 8, offshore Lebanon. (Image source Adobe Stock)

Exploration & Production

The Lebanese government has signed an agreement with an international consortium for exploration in Block 8 offshore Lebanon

The consortium, consisting of operator TotalEnergies (35%) with its partners Eni (35%) and QatarEnergy (30%), have signed an agreement with the Lebanese government to enter Block 8 exploration permit offshore Lebanon. Block 8 is located about 70 km off the southern coast of Lebanon in water depths of approximately 1,700-2,100 m. 

TotalEnergies and Eni were several years ago involved in a consortium with Russia’s Novotek to explore in two blocks in the Mediterranean sea, but this was unsuccessful, with the maritime border dispute with Israel (now resolved) impeding progress in one of the blocks. Qatar Energy partnered with TotalEnergies and Eni in early 2023 to explore blocks 4 and 9, marking its first exploration venture in Lebanon. However, exploration in Block 9 has not been successful.

The first step in the consortium’s work on Block 8 will be the acquisition of a 1,200 sq. km 3D seismic survey, in order to further assess the area's exploration potential.

“Although the drilling of the well Qana 31/1 on Block 9 did not give positive results, we remain committed to pursue our exploration activities in Lebanon. We will now focus our efforts on Block 8, together with our partners Eni and QatarEnergy and in close cooperation with Lebanese authorities,” said Patrick Pouyanné, chairman and CEO of TotalEnergies.

His Excellency Mr. Saad Sherida Al-Kaabi, Qatar's Minister of State for Energy Affairs, the president and CEO of QatarEnergy, said, “We are pleased to secure this exploration block, which allows us to support the development of Lebanon’s upstream oil and gas sector reflecting and reaffirming the State of Qatar’s ongoing commitment towards a brighter future for Lebanon and its people.”

Lebanon’s Ministry of Energy and Water, in cooperation with the Petroleum Administration, is reported to be working on reforms to modernise licensing procedures, in advance of the launch of a fourth licensing round. The government is keen to encourage further international exploration and development to revive the country’s oil and gas sector and aid the recovery of the country’s ailing economy. Lebanon recently signed an agreement with Egypt for the supply of Egyptian gas to ease its chronic power shortages, and also signed a maritime gas zone agreement with Cyprus, opening the way for further exploration and development and the unlocking of Lebanon’s undoubted offshore potential.

Protests in Iran are threatening to disrupt the country’s upstream sector and highlighting a deeper economic crisis, according to Rystad Energy analysis

Iran has restored output and exports despite sanctions, but at a rising cost: deeper discounts to China, expensive ‘shadow’ logistics and shrinking fiscal buffers, including the running down of its National Development Fund (NDF).

Iranian crude production is expected to remain stable at around 3.2mn bpd this year, according to Rystad, with limited short-term disruption to upstream operations, despite significant financing and redevelopment hurdles. The greater risk currently is the geopolitical risk premium as tensions rise and uncertainty persists. With the US administration of President Donald Trump exerting maximum economic pressure on Iran’s trading partners and threatening military intervention, the Middle Eastern oil giant will likely entrench itself even further.

“Iran’s familiar tactics, such as closing the Strait of Hormuz, banking on its trade with China and threatening nuclear escalation, are still on the table, yet must be weighed by their own potential for backfiring on the regime. Economically, Iran has been cornered by heavy sanctions, yet the country has managed to protect what limited revenue remains. Although the US has announced that it will impose a 25% tariff on countries that trade with Iran, China’s crude buying patterns are expected to remain stable. China has an established practice of sourcing discounted barrels from sanctioned producers, and Iran has a proven ability to sustain exports through sanctions evading trade networks. For the status quo to be truly disrupted, external intervention would have to take place,” said Aditya Saraswat, MENA research director at Rystad Energy.

Amid the backdrop of international pressure, Iran’s economy has faced enormous constraints, with inflation standing at 40% as the government’s total budget only nominally increased from US$98bn to US$111bn in the past year. National Iranian Oil Company (NIOC) is officially entitled to 14.5% of total oil and gas exports, which stood at 1.85mn bpd in the current budget. However one-third of oil exports were handed over to the Islamic Revolutionary Guard Corps (IRGC), and expected oil exports have now dropped to 1mn bpd, while the benchmark oil price has been lowered to US$57 per barrel from US$63 per barrel, reducing NIOC’s total receivables.

In addition, many of Iran’s core producing assets are in late life and experiencing steep natural declines. Underinvestment in maintenance, workovers and pressure support will accelerate the decline rates of these legacy fields. Many gas fields have complex structures and low recovery rates that pose challenges for local contractors. With assets under pressure, Iran’s NDF, which was designed to preserve a share of oil and gas revenues for future generations, continues to be treated as a source of near-term financing.

“From the regime’s point of view, the only redeeming factor in this situation is China’s role as the key driver of export revenues. As it stands, China accounts for 90% of Iran’s oil exports, with even a portion of cargoes booked for ‘unknown’ destinations ending up in China. Although the current export model looks feasible in the near term, its sustainability is becoming more conditional,” Saraswat said.

The recovery of Iran’s exports has been driven mainly by discounting, with additional costs incurred by measures required to evade sanctions, such as operating a shadow fleet. Without access to conventional banking channels, Iran relies on yuan-denominated accounts, barter arrangements or circuitous money-laundering pathways that extract substantial commissions. These structural inefficiencies mean Iran receives only two-thirds of benchmark oil, threatening Iran's ability to make a profit, even amid low upstream breakevens of US$20 to US$25 per barrel.

“Iran’s survival under sanctions reflects a mix of sustained upstream investment, strong trade relationships and covert workarounds. The continued brownfield redevelopment of mature fields has helped keep output stable, while contracts awarded to local players have added incremental volumes. However, a heavier reliance on China has drawbacks for Iran. Its margins will weaken as shadow logistics and intermediaries are priced in, and demand could be volatile as quotas and refinery runs change,” Saraswat concluded.

The new collaboration aims to scale up the development of CTC technology. (Image source: KAUST)

Petrochemicals

Aramco, Honeywell and King Abdullah University of Science and Technology (KAUST) are collaborating to scale up the development of Crude-to-Chemicals (CTC) technology in a bid to maximise the value of crude oil and reduce costs associated with CTC conversion 

The new CTC pathway will entail converting crude oil directly into light olefins and other high-demand chemicals, resulting in improved fuel efficiency, carbon utilisation, and process economics—allowing for more efficient and cost-effective production at scale.

The collaboration aligns with Saudi Arabia’s Vision 2030 by helping to advance economic diversification, build national research and technology capabilities, and strengthen the Kingdom’s position in the global chemicals market, combining academia and industry expertise to accelerate technology development and national capabilities.

Dr. Ali A. Al-Meshari, Aramco senior vice president of technology oversight & coordination, said, “This collaboration with Honeywell UOP and KAUST furthers Aramco's efforts to drive innovation and shape the future of petrochemicals. By harnessing the power of cutting-edge technologies, we aim to enhance energy efficiency and unlock increased value from every barrel of crude. This novel Crude-to-Chemicals process is aligned with our vision of supporting the global transition towards cleaner, high-performance chemical production. Moreover, this initiative demonstrates our focus on contributing to the growth of a vibrant ecosystem, where the deployment of innovative technologies can create lasting value for our stakeholders, our communities, and the environment.”

Rajesh Gattupalli, Honeywell UOP president, added, “This agreement marks a defining moment in our strategic collaboration with Aramco and KAUST – and in the global evolution of Crude-to-Chemicals technology. With Honeywell UOP’s deep expertise in catalytic process design and commercial scale-up, we’re well positioned to drive this innovation forward.”

GPU installation, Houston. (Image source: DUG)

Technology

DUG Technology (DUG) has deployed 82 new NVIDIA H200 machines, integrating some of the most advanced AI and compute-hardware technologies into the company’s high performance computing (HPC) ecosystem

The expansion adds an impressive 41 petaflops to DUG’s global supercomputing network and will support both growing client demand and future innovation.

Each machine delivers an order-of-magnitude performance uplift relative to DUG's fastest CPU-only hardware, further reducing the company's turnaround times across both testing and production.

Each machine is configured with:

8 × NVIDIA H200 GPUs (141 GB each)
• Dual AMD EPYC Turin CPUs
• 4 TB of system memory and 32 TB of local flash
• 100 Gbps networking

“This upgrade significantly increases our total compute power. This translates to even faster delivery of huge datasets and more computationally intensive workloads, from AI-inference applications, to advanced seismic processing and imaging workflows, including our revolutionary DUG Elastic MP-FWI Imaging technology,” said Harry McHugh, DUG’s chief information officer.

All 82 machines are now installed and operational, delivering results for both DUG’s services clients and DUG HPC Cloud users.

DUG is an ASX-listed technology company that provides innovative processing and storage solutions for real-world applications. It delivers proprietary software (DUG Insight), cloud-based HPC as-a-service (DUG HPC Cloud), immersion-cooling (DUG Cool), and edge-computing solutions (DUG Nomad), backed by bespoke support for technology onboarding.

Decades of experience in algorithm development, optimisation and HPC craft enables DUG to solve complex problems for clients. With offices in Perth, London, Houston, Kuala Lumpur, Abu Dhabi and Rio de Janeiro, DUG designs, owns and operates a network of some of the largest supercomputers on Earth.

The webinar will transform confined space inspections. (Image source: Flyability)

Webinar

Despite advances in digital technology, many oil and gas sites across the Middle East still rely on manual entry for tank and vessel inspections, resulting in days of downtime, high scaffolding costs and risk to human life

What if you could change all that with drone technology?

Inspections drones such as the Elios 3 are revolutionising the world of confined space inspections, improving safety, reducing downtime and enhancing operational efficiency.

Join us for an exclusive live webinar hosted by Flyability in association with Oil Review Middle East on ‘Transforming oil and gas operations with the Elios 3 drone’ on Tuesday 2 September at 2pm GST. Industrial experts will explain how drones such as the Elios 3 are transforming confined space inspections, and how you can integrate this technology into your operations seamlessly.

Key highlights:

Drone integration: learn how to safety and effectively implement drones in confined space
Safety and training: understand essential safety protocols and training strategies for your team
ROI: discover how to measure and achieve a strong return on investment with drone technology
Real world use cases: hear from the engineers using drone tech in the field on the impact Elios 3 is having on in oil and gas inspections.

Speakers and host:

Fabio Fata – senior sales manager, Flyability (moderator)
Eralp Koltuk – inspection lead engineer, Tüpraş
Danijel Jovanovic – director of operations, ZainTECH

Take your operations to the next level! Don’t miss out on gaining valuable insights into how drones can make inspections safer, faster and smarter .

From making inspections in hazardous confined spaces much safer to streamlining the whole process and providing valuable real-time data, you will get to see exactly how the Elios 3 is changing the game.

Register for the free webinar here.

Methane emissions reporting is improving, but more action is needed to reduce emissions. (Image source: Adobe Stock)

Energy Transition

Government and industry responses to UN Environment Programme (UNEP) satellite methane alerts rose from 1% to 12% cent in the past year, and oil and gas methane emissions reporting has improved, but action needs to accelerate to achieve the Global Methane Pledge goal of curbing methane emissions 30% by 2030, according to a new UNEP report

Atmospheric methane continues to be the second biggest driver of climate change after carbon dioxide, responsible for about one-third of the planet’s warming, and real-world data is a critical tool to track and reduce methane emissions.

The fifth edition of the UN Environment Programme’s (UNEP) International Methane Emissions Observatory (IMEO) publication, An Eye on Methane: From measurement to momentum, finds that member oil and gas companies of IMEO’s Oil and Gas Methane Partnership 2.0 (OGMP 2.0) are set to track one-third of emissions from global production using real-world measurements. The OGMP 2.0 is the world’s global standard for methane emissions measurement and mitigation in the oil and gas sector. Over the past five years, OGMP 2.0 membership has more than doubled to 153 companies in the countries, covering 42% of global oil and gas production.

One-third of global oil and gas production reports, or will soon report, emissions at OGMP 2.0’s Gold Standard – meaning emissions are tracked with real-world measurements. This positions a large amount of the global industry to effectively measure – and thus mitigate – emissions. One of the companies achieving 'Gold Standard reporting' in 2024 for having effectively achieved the highest levels of data quality is Eni. OGMP 2.0’s 2025 report recognized Eni for its continued progress, including identifying and quantifying emissions across non-operated assets, as well as training and technical assistance on the LDAR (Leak Detection and Repair) approach to fugitive emissions. LDAR training sessions were organised with the support of UNEP and delivered to National Oil Company (NOC) personnel.

The report highlights that while government and company responses to alerts from IMEO’s Methane Alert and Response System (MARS) have grown tenfold over the previous year, nearly 90% remain unanswered, necessitating an increase in response rates. Through MARS, UNEP has sent over 3,500 alerts about major emissions events across 33 countries. These alerts are based on satellite monitoring and artificial intelligence-supported analysis. IMEO has documented 25 cases of mitigation action in ten countries since MARS was launched in 2022, including across six new countries during the past year.

“Reducing methane emissions can quickly bend the curve on global warming, buying more time for long-term decarbonisation efforts, so it is encouraging that data-driven tools are helping the oil and gas industry to report on their emissions and set ambitious mitigation targets,” said Inger Andersen, executive director of UNEP. “But to keep the Paris Agreement targets within reach, the important progress on reporting must translate into cuts to emissions. Every company should join the Oil and Gas Methane Partnership 2.0, and both governments and operators must respond to satellite alerts – then they must act to reduce emissions.”