economics
Kazakhstan's TCO cranks up LPG exports to Finland
Kazakhstan's Tengizchevroil exported about 2,000 metric tons of LPG to Finland by rail last month as the company seeks to expand in new markets.
U.S. president Biden's pause on LNG approvals will not hit Europe short-term supply
President Joe Biden's decision to pause approvals of new exports of LNG will have no affect on U.S. supplies to Europe over the next two or three years, a European Commission official said after meeting U.S. officials.
Iran's main gas pipeline hit by sabotage, oil minister says
Two explosions along Iran's main south-north gas pipeline network were caused by sabotage, the Iranian oil minister told state TV, without naming any suspects.
U.S. LNG export terminal permit pause could boost coal use abroad, says Williams CEO
The Biden administration's pause on approving permits for U.S. LNG export terminals could backfire by boosting coal usage overseas, Alan Armstrong, CEO of U.S. natural gas pipeline operator Williams Companies said.
Chesapeake Energy Corporation, Delfin LNG and Gunvor sign long-term LNG liquefaction offtake agreement indexed to Japan Korea Marker
Chesapeake Energy Corporation, Delfin LNG LLC and Gunvor Group Ltd, through Gunvor Singapore Pte Ltd, today announced the entrance into a LNG export deal that includes executed Sales and Purchase Agreements for long-term liquefaction offtake.
Victaulic acquires Utility Coatings & Fabrication, Inc.
Victaulic, a manufacturer of mechanical pipe-joining, fire protection and flow control solutions, acquired Utility Coatings & Fabrication, Inc., located in West Jordan, Utah.
Austria seeking to end Russian gas import contract, energy minister says
Faced with stubbornly high Russian gas imports as the war in Ukraine rages on, Austria is seeking to take more radical steps, including ending energy company OMV's long-term contract to buy gas from Gazprom.
Former Trump, Bush officials urge Congress to reverse Biden's LNG pause
Dozens of former officials from the past two Republican U.S. administrations urged Congress to reverse the Biden administration's pause on approvals of LNG exports, saying the shipments promote global stability.
National Grid, Constellation Energy agree on LNG supply deal for Massachusetts (U.S.) facility
Britain's National Grid said it reached an agreement with gas-supplier Constellation Energy that would allow it to keep operating its Everett gas-import terminal for six years.
NYK takes delivery of Japan’s first LNG-fueled capesize bulk carrier
A naming ceremony was held for an LNG-fueled capesize bulk carrier that was ordered by NYK and will be deployed to transport iron ore and coal from Australia to Japan under a long-term consecutive voyage charter contract with JFE Steel Corporation.
Diamondback in $26-B deal to buy Endeavor Energy in growing Permian push
Shale producer Diamondback Energy, said it would buy the largest privately held oil and gas producer in the Permian Basin, Endeavor Energy Partners, in a cash-and-stock deal valued at about $26 B, including debt.
ADNOC Gas reports 24% Y-o-Y increase in Q4 2023 net income to $1.35 B
ADNOC Gas plc and its subsidiaries, a world-class integrated gas processing company, today announced its consolidated financial results for the three months ended December 31, 2023 and for the period from 8 December 2022 to 31 December 2023.
Russia extends permit for LNG supplies to Germany's SEFE until 2040
The Russian government has extended a permit for its Yamal LNG plant to supply LNG to German nationalized gas importer and trader SEFE until Dec. 31, 2040.
Spain's gas imports down 5% in January from same month last year
Spain's natural gas imports fell more than 5% in January compared to the same month a year earlier, data from Spanish grid operator Enagas showed.
LNG export review should weigh impact on green hydrogen market
A review of U.S. LNG that the Energy Department will conduct during a pause on new permits should weigh the impact of gas exports on the development of the emerging green hydrogen market.
Top Biden Administration (U.S.) official at Senate hearing defends LNG pause
A top U.S. Department of Energy official defended President Joe Biden's pause on approvals of LNG exports at a Senate hearing called by a fellow Democrat who said he will investigate the decision.
U.S. natgas prices fall 4% to fresh 3-year low on rising output, weak demand
U.S. natural gas futures fell about 4% on Friday to a fresh three-year low on near-record output, ample amounts of fuel in storage, forecasts for milder weather and less heating demand over the next two weeks than previously expected, and low amounts of gas flowing to LNG export plants due to an outage at Freeport LNG's facility in Texas.
Asia spot LNG prices dip on tepid demand, healthy stocks
Asian spot LNG prices dipped this week, remaining below $10 per MMBtu for the fourth week running, with a limited outlook for recovery due to tepid demand and strong inventories.
Premium of U.S. oil over natural gas hits 11-year high on natural gas price plunge
The collapse of U.S. natural gas prices this week elevated the oil-to-gas ratio to its highest since May 2012, which should prompt energy firms to drill for more oil and less gas.
Algeria's Sonatrach to supply Germany with pipeline gas for first time
Germany will receive its first supplies of pipeline natural gas from Algeria under a medium-term contract signed between a subsidiary of trader VNG AG and state-owned oil and gas firm Sonatrach.
Japan spot LNG contract price for January not disclosed
The average contract price for spot LNG cargoes for shipment to Japan last month was not disclosed by state-owned Japan Oil, Gas and Metals National Corporation.
Shell target asset management efficiencies across new projects
Shell has contracted ABL's specialist master data build and optimization software - Effio, to support a number of its large-scale newbuild projects including LNG Canada, Crux and Jackdaw.
India's GAIL buying spot LNG to hedge against Red Sea delays
India's state-run GAIL Ltd is selling more U.S. LNG in European markets and making spot purchases to avert delays due to the Red Sea crisis.
Top Biden official (U.S.) to defend LNG pause in Senate hearing
A top U.S. Department of Energy official is set to defend President Joe Biden's pause on approvals of LNG exports at a Senate hearing called by a fellow Democrat who said he will investigate the decision.
Russia's Arctic LNG 2 last line is on hold, TotalEnergies CEO says
The third and the last train of the Arctic LNG 2 project in Russia has been put on hold but the second train is likely to be installed, the head of stakeholder TotalEnergies said.
Czechs boost imports of Russian gas at end of 2023
Traders in the Czech Republic returned to importing an increasing amount of Russian natural gas in the final months of 2023 after an earlier near-complete halt, foreign trade data from the Czech Statistical Bureau shows.
U.S. natural gas prices fall to 3-year low on rising output, ample storage
U.S. natural gas futures fell about 2% on Wednesday to a three-year low after breaking through the key $2 per MMBtu level of technical support with ample amounts of fuel in storage, rising output and less gas flowing to LNG export plants.
Bangladesh likely to sign another long-term LNG deal, buy more spot cargoes
Bangladesh will likely sign its fifth long-term LNG contract in "a couple of years" and will increase its spot cargo purchases this year.
Russia's INK may boost LPG exports by 20%-30% in 2024, focus on China
Russia's Irkutsk Oil Company will likely increase its exports of LPG by 20%-30% this year, focusing on sales to China, according to traders and industry sources, as the company recovers production.
Tellurian fights to keep its Driftwood LNG project alive
The proposed sale of LNG developer Tellurian's natural gas production assets represents a move to stay afloat amid dwindling survival options.
- 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
