economics
Osaka Gas sees little impact from Freeport LNG's partial shutdown
Japan's Osaka Gas expects to see little impact on its balance of supply and demand for LNG from a partial shutdown of U.S. Freeport LNG's facilities.
IKAV, VTTI buy majority stake in Italy's biggest LNG terminal
Dutch infrastructure group VTTI and German asset manager IKAV have teamed up to buy a majority stake in Italy's biggest LNG terminal.
U.S. natural gas production grew by 4% in 2023, similar to 2022
U.S. natural gas production grew by 4% in 2023, or 5.0 Bcf/d, to average 125.0 Bcf/d, according to the U.S. EIA's Natural Gas Monthly.
Europe’s gas stocks point to healthy supply next winter
The European Union will have plenty of gas in stock next winter and the remaining buyers of Russian pipeline gas in central Europe are working on alternative imports in case transit via Ukraine stops from January.
U.S. natgas prices slide 2% on forecasts for milder weather, lower demand
U.S. natural gas futures slid about 2% on forecasts for milder weather and less heating demand next week than previously expected and ample amounts of gas in storage.
ExxonMobil warns Australia faces sharp drop in gas supply, calls for policy stability
Exxon Mobil Corp gave a dire warning about the outlook of Australia's domestic gas supply, joining other gas producers in calling for policy stability and more investment in the sector.
Gazprom's unit buys former Shell stake in Sakhalin Energy for $1 B
Kremlin-controlled energy giant Gazprom has acquired a 27.5% stake, formerly owned by Shell, in Russian LNG producer Sakhalin Energy for around $1 B, according to a government order.
Enbridge to form natural gas supply venture connecting Permian and Gulf Coast (U.S.)
Canadian pipeline operator Enbridge said it would form a venture with I Squared Capital and pipeline firms WhiteWater and MPLX to connect Permian supplies to the U.S. Gulf Coast to tap into strong LNG demand for exports.
Wilhelmshaven Green Energy Hub receives exemption from regulation
The German network regulator BNetzA has exempted the eLNG terminal within the Green Energy Hub Wilhelmshaven from tariff and third-party access regulation for a period of 20 years from the start of operations.
Russia's Gazprom ships first LNG cargo from Portovaya to Spain
Russia's Gazprom shipped a cargo of LNG from its small-scale Portovaya LNG plant on the Baltic Sea to Spain for the first time.
PetroChina's 2023 net income up 8.3% on strong fuel, gas sales
PetroChina's net profit rose 8.3% last year off record levels in 2022, as strong growth in natural gas sales and its marketing segment offset lower realized oil prices.
Woodside seeks better terms to develop Trinidad's Calypso gas project
Australian oil and gas producer Woodside Energy would like to see improved fiscal terms from the Trinidad and Tobago government before committing to develop a deep-water natural gas project there.
Sixteen Republican-led U.S. states sue federal government over ban on LNG permits
Sixteen Republican-led states filed a lawsuit to challenge the federal government's ban on approving applications to export LNG, saying the federal government lacks the authority to broadly deny those permits.
ExxonMobil ahead of schedule on doubling LNG portfolio, exec says
ExxonMobil is ahead of schedule with its plan to double the size of its LNG portfolio to 40 MMtpy by 2030 and will focus on selling its own gas rather than trading that of third parties.
U.S. gas producers shrug off low prices, bet on LNG boom
Energy executives say they are looking past current ultra-cheap gas prices and betting on a coming wave of new LNG plants to lift demand - and prices - for the fuel.
Ukraine's Naftogaz says its facilities damaged in overnight Russian strikes
Ukraine's state-owned oil and gas company Naftogaz said its facilities had been damaged in overnight Russian strikes on Ukraine's energy system.
Asia spot LNG gains on supply concerns, steady demand
Asian spot LNG prices edged up this week to a six-week high amid supply concerns and following some spot demand pickup from buyers.
U.S. natgas prices ease 1% to three-week low on mild forecasts
U.S. natural gas futures eased about 1% to a three-week low on forecasts for milder weather over the next two weeks than previously expected, ample gas in storage and expectations gas flows to LNG export plants would remain low through May due to outages at Freeport LNG's plant in Texas.
LNG growth to be met by other countries if U.S. walks away -Baker Hughes CEO
If the U.S. pulls back from permitting new LNG export plants, demand for the fuel will still be met from projects in Qatar, Argentina and Africa, said the CEO of Baker Hughes, Lorenzo Simonelli.
Trinidad seeks U.S. license for bp gas project shared with Venezuela
The government of Trinidad and Tobago has begun talks with the U.S. for a license that would allow the joint development of a natural gas project shared with Venezuela that also involves bp.
Yokogawa launches OpreX Robot Management Core
Yokogawa Electric Corporation announced the development and release of OpreX Robot Management Core, a software application in the OpreX Asset Management and Integrity family and will go on sale on March 22, 2024.
Lower LNG prices trigger surge in Asian spot market purchases
Price-sensitive LNG buyers from China, India and parts of Southeast Asia are snapping up more spot shipments of the fuel to power industries and generate electricity after prices have fallen to the lowest level in nearly three years.
Samsung Engineering rebrands name to 'SAMSUNG E&A'
The company name change to SAMSUNG E&A CO., LTD. was confirmed during the 57’s general shareholders' meeting on 21 March 2024, where the change of articles of incorporation were passed.
German Stade LNG hub agrees on land-based terminal from 2027
Backers of the LNG terminal in Germany's Elbe river port of Stade have taken a final decision to build a land-based terminal from 2027, costing around $1.1 B.
Venture Global approved to re-introduce hazardous fluids at Louisiana (U.S.) LNG plant
U.S. LNG company Venture Global LNG received U.S. regulatory approval to re-introduce hazardous fluids into "HRSG 372" at the company's Calcasieu Pass LNG export plant in Louisiana.
Freeport LNG plans to raise production 10% by June
Freeport LNG said that it will increase its production of LNG at its Texas (U.S.) facility by June and is working on installing additional compressor capacity across its three trains.
Suriname presses Exxon, TotalEnergies to combine gas developments
Suriname's state-owned oil company Staatsolie has begun talks with oil majors Exxon Mobil and TotalEnergies to encourage joint development of natural gas fields that straddle its and Guyana's maritime borders.
Freeport LNG says Trains 1, 2 at Texas (U.S.) facility seen shut until May
Freeport LNG said its Train 2 liquefaction unit at the Texas plant has been shut down, while Train 1 will be taken down imminently as it expects inspections and any subsequent repairs at both the units to be completed by May.
Saudi Aramco gas output to rise 60% by 2030
Saudi state energy giant Saudi Aramco will increase gas output by 60% by 2030, Aramco's Executive Vice President for Strategy and Corporate Development Ashraf Al Ghazzawi said at an energy conference.
Natural gas intrastate pipeline capacity additions outpaced interstate additions in 2023
In 2023, 5.2 Bcfd of natural gas intrastate pipeline capacity was added in the U.S., according to EIA's recently updated Natural Gas Pipeline Projects Tracker and are within a single state and are regulated by state agencies.
- Gasum selects Wärtsilä for another bio-LNG project in Sweden
- Linde selected to supply carbon capture technology to ADNOC’S Hail and Ghasha project
- Tecnimont to build waste-to-biogas plant to fuel local kitchens in India
- Topsoe, Aramco sign JDA to advance low-carbon hydrogen solutions using eREACT™
- Indonesia regulator confirms disruption at bp's Tangguh LNG project
