economics

ADNOC issues early EPC award for Ruwais LNG Project

ADNOC announced that it has issued a Limited Notice to Proceed for early engineering, procurement and construction activities to a joint venture, led by Technip Energies, with JGC Corporation and National Petroleum Construction Company PJSC for its low-carbon LNG project in Al Ruwais Industrial City, Abu Dhabi.

Major European energy companies ask U.S. regulators to deny Venture Global LNG's permit extension

Top European energy companies asked U.S. regulators to reject Venture Global LNG's request for a one-year construction permit extension to its Louisiana (U.S.) export plant.

Japan spot LNG contract price for February 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's LNG, gas and power trading boss Hill to move on

Shell's head of LNG, natural gas and power trading Steve Hill is leaving the company.

LNG Canada expansion to be decided by 2025

Royal Dutch Shell and its partners building a massive LNG export terminal in Western Canada will decide by 2025 whether to double its capacity, the head of the project said.

Dominion Energy announces closing of sale of Ohio (U.S.) natural gas distribution company

Dominion Energy, Inc., announced closure of the sale of its Ohio natural gas utility – The East Ohio Gas Company – to Enbridge Inc. for approximately $6.6 B, including assumed indebtedness and adjusted for customary closing items.

U.S. natgas prices drop 6% to one-week low on small storage withdrawal, mild weather

U.S. natural gas futures dropped about 6% to a one-week low on an expected much smaller-than-usual storage withdrawal last week when warmer-than-normal weather kept heating demand low.

EU energy regulator adds to pressure on Germany over gas tariff

European Union energy regulators added to growing pressure on Germany over Berlin's levy on cross-border gas trading, which some countries say puts the EU's energy solidarity at risk and hurts efforts to cut reliance on Russia.

U.S. natural gas pipeline accidents pose big, unreported climate threat

Accidental pipeline leaks – caused by things like punctures, corrosion, severe weather and faulty equipment - happen routinely and are a climate menace that is not currently counted in the official U.S. tally of greenhouse gas emissions, according to an examination of public data and regulatory documents.

Asian spot LNG prices inch up on emerging Chinese demand

Asian spot LNG prices inched up this week as temperatures below seasonal normal levels in China pushed buyers back into the market, especially as prices had recently fallen below that of some oil-linked contracts.

India's Hydrogen Ambitions: Powering the Future with Green Fuel

India has launched the ambitious National Green Hydrogen Mission in January 2023, aiming to become a global leader in the production, utilization, and export of this clean fuel.

AG&P LNG acquires 49% stake in Vietnam's Cai Mep LNG terminal

Singapore-based Atlantic, Gulf and Pacific LNG, a unit of U.S. investment and development firm Nebula Energy, has acquired a 49% stake in Vietnam's Cai Mep LNG terminal.

Europe's mild winter leaves gas stocks at record high

Europe is on track to end the winter with a record volume of gas in storage, which has pushed futures prices back to pre-crisis levels once inflation is taken into account.

Germany could start refilling gas storage caverns from mid-March

Germany may be able to start filling gas storage facilities ahead of the 2024-25 winter as early as next week, operators group INES said, a task made easier as high levels of gas remain from the heating season that ends this month.

Mexico's Pemex, Carlos Slim team met to discuss deepwater gas project

Mexican state energy company Pemex and billionaire investor Carlos Slim's team are discussing ways to revive development of the country's first deepwater natural gas field that was shelved twice before.

U.S. natural gas prices little changed ahead of federal storage report

U.S. natural gas futures were little changed as the market waited for direction from a federal report expected to show a much smaller-than-usual storage withdrawal last week when warmer-than-normal weather kept heating demand low.

Netherlands won't permit gas drilling in sensitive Wadden Sea, government says

The Netherlands will not permit companies to drill for gas in the Dutch part of the protected Wadden Sea, the Dutch government said, in a move that will block planned exploration by Shell and ExxonMobil joint venture NAM.

Saudi Aramco, UAE's ADNOC in talks to invest in U.S. LNG projects

Gulf oil giants Saudi Aramco and Abu Dhabi National Oil Company are in talks to invest in U.S. LNG projects, as they step up competition with oil majors and regional rival Qatar in the booming super-chilled gas market.

India sees $4.95-B investment for natural gas network in northeast Kashmir

India expects investment of about $4.95 B from companies to build natural gas pipeline infrastructure in its northeastern states and northern federal territories of Kashmir and Ladakh.

Vitol close to buying Exxon, QatarEnergy stakes in Italy LNG terminal

Vitol-backed energy storage company VTTI is close to acquiring a majority stake in Italy's biggest LNG import terminal from Exxon Mobil, opens new tab and QatarEnergy.

Jupiter Ionics raises $9-MM to progress their electrochemical green ammonia technology

A greener way to feed the world is one step closer with Jupiter Ionics’ $9 million capital raise to progress their electrochemical green ammonia technology.

Copenhagen Infrastructure Partners announces investments and agreements with LOTTE Chemical Corporation

The memorandum of understanding between CIP and LOTTE is intended to support collaboration on clean ammonia projects.

NextChem expands its low carbon portfolio with the acquisition of Gascontec, gaining innovative patents in hydrogen, ammonia, and methanol

MAIRE announced that NEXTCHEM has signed a binding agreement to acquire 100% of GasConTec Gmbh, an innovative company specialized in technology development and process engineering founded in 2017 and based in Bad Homburg, Germany.

bp awards Kent a five-year global commissioning framework agreement

Kent, a global integrated energy services company, announced that it has been awarded a five-year global commissioning framework agreement by bp.

Iran to reach 1.3 Bcm of gas output a day in five years, minister says

Iran's gas output will reach 1.3 Bcm per day in five years, Iran's Oil Minister Javad Owji said, up from 1.07 Bcm per day currently.

Philippines' top energy firms partner for $3.3-B LNG facility

Three top Philippine energy firms have partnered for the first time to form a large-scale integrated LNG facility, the companies said, in a deal two of them valued at $3.3 B.

U.S. natural gas producers cut spending, output to cope with low prices

U.S. natural gas producers are curbing their output and spending on drilling activity as an oversupplied market has brought the prices of the commodity down to multi-decade lows.

LNG developer Tellurian to not extend CEO's employment term

LNG developer Tellurian said it would not renew or extend the employment term of CEO Octavio Simoes beyond June 5, and aims to sell its upstream business as it no longer sees it "a core strategic need"

Low U.S. natural gas prices to dampen prospects for Tellurian asset sale

Low U.S. natural gas prices will hurt Tellurian Inc's ability to sell Louisiana gas producing properties in order to pay off enough debt to salvage its LNG project.

U.S. LNG exports fall in February on outage and fewer calendar days

A month-long closure at Freeport LNG plant in Texas (U.S.) and fewer days in the month pushed February U.S. LNG exports 7% lower than in January.