economics
U.S. natural gas prices climb 4% to one-week high with rising demand
U.S. natural gas futures climbed about 4% to a one-week high on forecasts for higher demand next week than previously expected and as record amounts of gas flow to LNG export plants.
Record warmth leaves world with too much gas
The northern hemisphere experienced its warmest October and November in records dating back to the 1880s – pushing the gas market into a large surplus and triggering a slump in prices.
U.S. awards up to $890 MM to carbon capture projects at gas, coal plants
Natural gas and coal plants in Texas, California and North Dakota will share up to $890 MM in U.S. funding for projects to demonstrate the viability of carbon capture technologies.
Freeport LNG settles with U.S. EPA over safety failures for June 2022 Texas blast
Freeport LNG, which operates the second-largest U.S. LNG export plant in Texas, agreed with the U.S. Environmental Protection Agency to settle safety violations related to a June 2022 blast that caused some $275 MM in damage to the facility.
Brazil's Ambar Energia to acquire Copel's majority stake in gas-fired power plant
Brazilian energy firm Ambar Energia is set to buy electric utility Copel's 81.2% stake in natural gas-fired power plant UTE Araucaria for $65.24 MM.
DNV to support UK National Gas Transmission with world first hydrogen pipeline research facility
DNV is the lead partner for National Gas Transmission in further expanding a world first hydrogen pipeline research facility FutureGrid.
Differing LNG outlook stalls Shell talks on gas project with Venezuela
A disagreement between Shell PLC and Venezuela's state company PDVSA over future LNG prices has gridlocked talks on a license for Shell and Trinidad and Tobago's National Gas Company to operate a Venezuelan gas field.
Woodside, Santos proposed $52-B tie-up unlikely to be sealed until at least Feb
Australia's Woodside Energy and rival Santos are unlikely to announce any agreement on a proposed $52-B tie-up to create a global oil and gas giant until at least February.
Equinor buys Shell's stake in the Linnorm gas discovery
Norway's Equinor said it has agreed to buy Shell's stake in the Linnorm gas discovery in the Norwegian Sea, raising its ownership to 50%.
Latvia utility buys LNG from Equinor
Latvian state-owned utility Latvenergo said it had agreed to purchase six cargoes of LNG from Equinor for delivery via Lithuania's Klaipeda terminal.
U.S. natural gas prices up 1% on higher demand, record LNG feedgas
U.S. natural gas futures edged up about 1% from a six-month low in the prior session on raised demand forecasts for this week, and as record amounts of gas flowed to LNG export plants.
Pembina Pipeline to buy Enbridge's JV interests for $2.30 B
Pembina Pipeline said it would buy Enbridge's interests in the Alliance Pipeline, Aux Sable and NRGreen joint ventures for $2.30 B.
Afghanistan doubles Russian LPG fuel imports, industry data shows
Afghanistan's Taliban government doubled purchases of Russian LPG in the January-November period, according to industry data, as Russia redirects supplies away from Europe amid political fallout from the Ukraine conflict.
Germany's Stade LNG project expects floating terminal in February
Germany's emerging LNG terminal in the Elbe river port of Stade expects its floating regasification vessel to arrive in February, allowing seaborne gas cargoes to be fed into local pipeline grids.
Environmental groups ask lenders to avoid LNG project in Papua New Guinea
Major global lenders should refuse to finance a LNG project in Papua New Guinea to help keep global warming in check, civil society groups said, as some owners tap banks ahead of a final greenlight next year.
U.S. natural gas prices fall 3% to near 6-month low on milder forecasts
U.S. natural gas futures fell about 3% to a fresh near six-month low on record output and forecasts for milder weather and lower heating demand than previously expected that should allow utilities to leave more gas in storage than usual through late December.
New pipelines will bring significant volumes of natural gas to new LNG export terminals
More than 20.0 Bcf/d of natural gas pipeline capacity is under construction, partly completed, or approved to deliver natural gas to five U.S. LNG export terminals that are currently under construction, according to the Natural Gas Pipeline Project Tracker.
Moscow says EU will not succeed in curbing Russian gas imports
The European Union's plans to give its member states the power to halt gas imports from Russia will not succeed and won't hurt the Russian economy.
bp challenges U.S. energy regulator's oversight of Venture Global LNG plant
bp has challenged U.S. energy regulators' approvals of a Venture Global LNG export facility, arguing the Federal Energy Regulatory Commission has failed to enforce its regulations.
New Renewable Fuel Standard volume targets facilitate renewable natural gas production
The U.S. Environmental Protection Agency announced a final rule that established biofuel volume requirements and standards for cellulosic biofuel for 2023–25 as part of the Renewable Fuel Standard program.
Serbia launches interconnector to gas pipeline in Bulgaria
Serbia completed the interconnector to a pipeline in Bulgaria which would allow the Balkan country to diversify its gas supplies and reduce its dependence on Russia.
Venezuela prods bp, Chevron to revive gas project near Trinidad, Guyana
Venezuela has begun contacting energy firms involved in an long-idled offshore gas project to push them to begin new exploration and operations near its maritime border with Guyana.
Tellurian Board appoints Daniel Belhumeur as President and Meredith Mouer as General Counsel and Chief Compliance Officer
Tellurian Inc. announced that following the appointment of Martin J. Houston as Chairman of the Board, the Board of Directors has named former General Counsel Daniel Belhumeur as President of Tellurian, and former Deputy General Counsel Meredith Mouer as General Counsel and Chief Compliance Officer of Tellurian.
U.S. LNG developer Tellurian ousts co-founder Souki as chairman
Tellurian ousted its chairman and co-founder Charif Souki as an executive officer, weeks after auditors raised doubts about the company's ability to cover future expenses.
Continental U.S. kicks off winter with most natural gas in storage since 2020
The continental United States entered the winter heating season with the most natural gas in storage since 2020, according to the U.S. Energy Information Administration.
U.S. natgas slides to 3-month low on mild weather, Golden Pass LNG delay
U.S. natural gas futures slid about 2% to a three-month low on forecasts for milder weather and lower heating demand as investors worried LNG exports would not grow much in 2024.
Shell sees $6 B in oil and gas investments in Nigeria
Shell sees a $5-B offshore oil investment opportunity in Nigeria and pledged to spend a further $1 B in five to 10 years to boost natural gas output for domestic supplies and exports, a presidential spokesperson said, citing Shell's director of upstream operations.
Asia-Europe LNG spread at widest level in almost two years
The Asia-Europe LNG spread has hit its widest level in about two years, data from S&P Global Commodity Insights showed, as congestion at Panama makes sending U.S. LNG to Asia via alternative routes a bit more expensive than normal.
Moldovan natgas chief offers to take over Ukraine transit of Russian gas
The head of Moldova's national gas company proposed that it take over the transport of Russian giant Gazprom's supplies through Ukraine if Kyiv decides against renewing a transit contract that runs out next year.
Indonesia's Pertamina starts carbon injection tests in Sukowati oil and gas field
Indonesia state energy firm Pertamina has started an underground carbon injection trial in Sukowati field, the second site the company is testing for carbon capture, utilization and storage.
- Gasum selects Wärtsilä for another bio-LNG project in Sweden
- 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
- Toyo awarded EPC contract for Dahej LNG terminal (India)
