economics

TotalEnergies: Papua LNG project requires 'more work' to reach final investment decision

French oil and gas giant TotalEnergies said a planned new LNG project in Papua New Guinea would require 'more work' before a final investment decision could be reached.

OCP and Fortescue to partner to develop green energy, hydrogen and ammonia in Morocco

OCP Group and Fortescue Energy announced a landmark JV in Morocco which aims to supply green hydrogen, ammonia, and fertilizers to Morocco, Europe, and international markets.

Investments exceeding $1 T needed for hydrogen infrastructure

Emmanouil Kakaras, Executive Vice President at Mitsubishi Heavy Industries, emphasized the necessity for substantial investments in infrastructure to facilitate the widespread adoption of hydrogen fuel in Europe and the United States.

Hapag-Lloyd receives largest LBM bunkering from STX Group and Titan Clean Fuels

STX Group and Titan Clean Fuels announced having successfully concluded a ship-to-ship bunkering of 2,200 metric tons of LBM to a Hapag-Lloyd container vessel in the port of Rotterdam.

U.S. refiners and chemical manufacturers lead hydrogen production and consumption

U.S. manufacturers specializing in chemicals and petroleum refining have traditionally accounted for the largest shares of both hydrogen consumption and production, and they pay the least for it.

bp in talks to sell some Trinidad upstream gas assets to Perenco

bp is close to an agreement to sell some of its Trinidad and Tobago oil and gas assets to Anglo-French oil company Perenco.

Mabanaft announces successful acquisition of WESTFA Energy GmbH

Mabanaft announced that it has successfully completed the strategic acquisition of WESTFA Energy GmbH, including all its subsidiaries and shareholdings, following the earlier announcement of signing an agreement in December 2023 to purchase the business from Adeleon Familienholding GmbH, formerly WESTFA Holding GmbH.

German coalition agrees financing details of hydrogen network

Germany's ruling coalition agreed a financing mechanism for the country's future hydrogen network, extending a deadline for it to be built by five years to 2037 and offering protection for investors in case of bankruptcy.

ACME Group and Hydrogenious LOHC Technologies to jointly explore hydrogen value chains from Oman to Europe

ACME Group and Hydrogenious LOHC Technologies, have signed a Memorandum of Understanding to collaborate on a feasibility study to explore the joint development of large-scale hydrogen supply chains from ACME’s projects in Oman to supply hubs in Europe using the innovative LOHC technology.

Shell sees significantly lower Q1 LNG trading results

Shell said it expects significantly lower results from its LNG trading business in the first quarter of 2024 compared with the previous three months.

Asia spot LNG holds at 6-week top amid sustained demand

Asian spot LNG was unchanged this week, keeping at a six-week high over $9 per MMBtu for a third consecutive week, as demand from buyers continued shoring up prices.

Shell, Aramco in final stage of Pavilion Energy talks

Shell and Saudi Aramco, which are competing to buy the assets of Temasek-owned LNG trading firm Pavilion Energy, are now locked in price negotiations after completing the due diligence process,.

Enbridge wins approval to commence service on Louisiana (U.S.) Venice natgas pipe project

Canadian energy company Enbridge’s Texas Eastern Transmission subsidiary received approval from U.S. energy regulators to commence service of a natural gas pipeline associated with its Venice extension project in Louisiana.

Japan's Mitsui OSK starts FSRU operations for Indonesian gas-fired power plant

Japan's Mitsui O.S.K. Lines Ltd. has started commercial operations of its FSRU to supply LNG to a power plant in West Java, Indonesia.

Baker Hughes to supply electric-driven liquefaction technology for Cedar LNG project

Baker Hughes, an energy technology company, announced it was awarded an order from Black & Veatch, a global engineering, construction and consulting leader, to supply Cedar LNG in Canada with electric driven liquefaction technologies.

VTTI to control Italy's biggest LNG terminal, Snam to get 30%

Energy storage group VTTI will get a 70% stake in Italy's biggest LNG terminal, with grid operator Snam owning the rest, the Milan-listed group said late on Wednesday, announcing a deal to be finalized by year-end.

Russia's Novatek may scale back Arctic LNG 2, focus on Murmansk

Russia's Novatek is being forced to scale back its huge Arctic LNG 2 project after Western sanctions curbed its access to ice-class tankers and will focus instead on developing its project at the ice-free port of Murmansk.

Henkel closes acquisition of specialized supplier for protective coating and sealing solutions

Henkel has successfully completed the acquisition of the U.S.-based Seal for Life Industries LLC from Arsenal Capital Partners.

NextChem and Vallourec to merge green ammonia tech with hydrogen storage for "Power-To-X" projects

Maire announces that NextChem, through its subsidiary NextChem Tech, and Vallourec, agreed to cooperate on the integration of NextChem’s proprietary green ammonia technology with Vallourec’s Delphy hydrogen storage technology and its subsequent commercialization.

U.S. natural gas demand for LNG falls as Cheniere reduces output

There was a significant decline in the amount of U.S. natural gas being liquefied for export with a drop in demand from Cheniere Energy's Corpus Christi plant in Texas and its Sabine Pass operation in Louisiana.

Shell seeks longer U.S. license before sanctioning Venezuela gas project

Oil major Shell is seeking a long-term license from the U.S. before making a final investment decision on the Dragon natural gas project in Venezuela.

SIAD Americas LLC established by SIAD Macchine Impianti S.p.A.

SIAD Macchine Impianti S.p.A., a wholly owned subsidiary of SIAD S.p.A., has announced the formation of SIAD Americas LLC which will be headquartered in The Woodlands north of Houston, Texas (U.S.).

Enterprise plans natural gas processing plant to expand Permian operations

Enterprise Products Partners will build a natural gas processing plant in Texas to expand its operations in the Permian Basin.

U.S. ethane production, consumption, and exports set new records again in 2023

U.S. ethane production, consumption, and exports established new record highs in 2023, according to data from EIA's Petroleum Supply Monthly.

New retractable submerged pumps from Vanzetti Engineering

Vanzetti Engineering presents the new ESK-IMO series of retractable submerged pumps, which are used in Small-Scale LNG Terminals and as Emergency pumps or Cargo/Stripping pumps in the marine sector.

Russia's Arctic LNG 2 suspends gas liquefaction amid sanctions, lack of tankers

Novatek, Russia's largest producer of LNG, has suspended production at its Arctic LNG 2 project due to sanctions and a shortage of gas tankers.

U.S. petroleum product exports set another record high in 2023

Petroleum product exports from the U.S. averaged a record 6.1 MM bpdy in 2023, an 2.5% increase from 2022, according to EIA's Petroleum Supply Monthly.

Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant

Aramco awarded engineering, procurement and construction contracts worth $7.7 B for a major expansion of its Fadhili Gas Plant in the Eastern Province of Saudi Arabia.

Japan's Mitsubishi invests in EIG's LNG company MidOcean Energy

Japanese trading house Mitsubishi has agreed to invest in MidOcean Energy, an LNG company owned by U.S. investment firm EIG, MidOcean said without giving details of the deal.

U.S. March LNG exports flat as Freeport plant woes continue

U.S. exports of LNG fell slightly in March to 7.61 MMt from 7.73 MMt in February as production of the superchilled gas from the country's second largest exporter remained constrained, preliminary data from financial firm LSEG showed.