economics
Asia spot LNG prices above 7-month high on hot weather, Middle East tensions
Asian spot liquefied natural gas (LNG) prices rose this week to their highest level in more than seven months as high temperatures in Japan and South Korea boosted power demand and amid heightened geopolitical risks due to tensions in the Middle East.
Russian pipeline gas exports to Europe reach highest this year
Russian energy giant Gazprom's average daily natural gas supplies to Europe in July reached their highest this year, up 5.7% compared with a year ago and 12% higher than in June.
Targa Resources beats 2Q core profit estimates, announces $1-B buyback program
Targa Resources has beat estimates for its 2Q core profit, helped by higher volumes of natural gas and natural gas liquids (NGLs) across its pipelines.
WPC JV takes FID on the 2.5-Bcfd Blackcomb Pipeline project in Texas (U.S.)
The WPC JV (WhiteWater, MPLX, Enbridge) have taken FID on the Blackcomb Pipeline project, which will transport 2.5 Bcfd of natural gas from the Permian Basin to the Agua Dulce area in South Texas (U.S.).
U.S. oil and gas mergers continue at furious pace in 2Q
U.S. oil and gas patch deals continued to run hot in 2Q, topping $30 B with big dollar tie-ups pushing values higher.
Australia's Origin Energy reports APLNG revenue dip on lower prices, volumes
Shares of Origin Energy marked their biggest intraday loss in eight months on Wednesday after the firm posted a drop in quarterly revenue from its stake in the Australia Pacific LNG project, reflecting a fall in gas sales and prices.
Iberdrola faces up to $535-MM claim from Pavilion in LNG contract dispute
Spanish utility Iberdrola faces claims worth up to $535 MM in an arbitration process launched by Singaporean liquefied natural gas (LNG) company Pavilion Energy over a supply contract.
Column: Power sector drives growth in U.S. natural gas demand
The power sector is the only major consumer of natural gas that has shown consistent demand growth in recent years, and has become the driving force behind natural gas demand in the U.S. as consumption from other sectors declines.
Canada's TC Energy to sell pipeline stake to some indigenous communities for $722 MM
Pipeline operator TC Energy said on Tuesday it would sell a minority stake in some of its Canadian assets for C$1 B ($722.1 MM) to certain indigenous communities as part of its plan to reduce debt and fund investments.
India's Adani Total Gas posts 1Q profit rise on strong CNG demand
Adani Total Gas reported a jump in 1Q profit on Monday, helped by strong demand for the cleaner-burning compressed natural gas (CNG), sending its shares 2% higher.
Asia's LNG imports shift higher as Europe's fades
Asia continues to draw liquefied natural gas (LNG) from Europe with imports in July rising to the most in six months, even as spot prices stayed near seven-month highs.
Pieridae announces sale of Goldboro, equity financing, full repayment of bridge loan, production shut-in
Pieridae Energy Ltd. has completed the sale of its Goldboro assets and has issued notice to repay in full the company’s subordinated secured bridge loan.
Spain's Enagas shares fall as it warns of loss after U.S. asset sale
Shares in Spanish gas grid operator Enagas fell on Tuesday after it warned of a loss for the year after booking a capital hit resulting from the sale of an asset in the United States.
U.S. natgas prices slide 3% on rising output, oversupply in storage
U.S. natural gas futures slid about 3% on Tuesday on rising output and an ongoing oversupply of gas in storage.
EIA: Less natural gas consumption in Europe is keeping storage full
Consumption of natural gas in Europe consistently decreased since mid-2022, driven by a combination of mild winter weather and government policies aimed at reducing natural gas consumption.
Australia's Woodside Energy to buy US LNG developer Tellurian for $1.2 billion
Australia's Woodside Energy said it had agreed to buy U.S. liquefied natural gas developer Tellurian, including its U.S. Gulf Coast Driftwood LNG export project, for $1.2 B including debt.
Australia's Woodside Energy to buy US LNG developer Tellurian for $1.2 billion (1)
Australia's Woodside Energy said it had agreed to buy U.S. liquefied natural gas developer Tellurian, including its U.S. Gulf Coast Driftwood LNG export project, for $1.2 B including debt.
Global LNG: Asia spot prices supported by Freeport LNG outage, summer demand
Asian spot liquefied natural gas (LNG) prices held steady this week on the back of support from an outage at U.S. Freeport LNG which saw some cargo cancellations, and as summer weather boosted demand.
Tribunal rejects TC Energy's $15-B claim for Keystone XL
Canada's TC Energy said on Tuesday a free trade arbitration tribunal had tossed out its claim to recover more than $15 B from the U.S. government for the cancellation of its Keystone XL project.
Bolivia govt. announces natural gas "mega field" in biggest discovery since 2005
Bolivian President Luis Arce has announced the discovery of a 1.7-Tft3 natural gas reserve located north of the country's administrative capital, La Paz.
Russian pipeline gas exports to EU up 24% y/y in January–June
Russian natural gas exports via pipelines to the European Union countries have jumped by 24% in the first half of the year from the same period in 2023.
Russia's Arctic LNG 2 gas output slashed in May
Russia's sanctions-hit Arctic LNG 2 project, which started production in December but has yet to begin exports, slashed its natural gas output in May.
Mexico–U.S. energy trade value fell in 2023 on lower fuel prices
The value of all energy trade between the U.S. and Mexico decreased almost 15% from $77.8 B in 2022 to $66.5 B in 2023, adjusted for inflation.
Europe gas: Prices edge lower on strong wind power output
Dutch and British gas prices edged lower on Monday morning as expectations of strong output from wind farms curbed gas demand from gas-fired power plants.
Singapore's 1H 2024 bunker sales rise on year but June sees a monthly decline
Sales of marine bunker fuel at Singapore climbed 8.5% in 1H 2024, official data showed on Monday, as shipping disruptions in the Red Sea boosted global bunkering demand, though demand slowed month-on-month in June.
bp Energy Outlook: Two main scenarios see 2025 oil peak, rapid renewables growth
bp expects oil demand to peak next year and wind and solar capacity to grow rapidly in both of the two main scenarios in its annual Energy Outlook, a study of the evolution of the global energy system to 2050 the company published on Wednesday.
Japan builds gas markets in Asia to boost LNG trading, energy security
Japanese companies—foreseeing a growing surplus in stocks of liquefied natural gas (LNG) as their demand for the fuel wanes in coming years—are scrambling to invest in regional markets to provide potential outlets to sell the gas.
~1 MM in Texas without power, Freeport LNG to restart after Beryl
~1 MM homes and businesses in Texas remained without power on Thursday, four days after Hurricane Beryl lashed the state with fierce winds and flooding, sparking frustration among companies, officials and residents who were facing extreme heat.
Global LNG trade increased more than 1.6 Bcf/d in 2023
LNG trade increased 3.1% globally in 2023 to average 52.9 Bcft/d, an increase of 1.6 Bcf/d from 2022, according to a report from the International Group of Liquefied Natural Gas Importers (GIIGNL).
U.S. LNG output dips in June on shorter month, plant maintenance
U.S exports of liquefied natural gas (LNG) fell slightly in June to 7.11 metric MMt from 7.60 metric MMt in May, as several plants embarked on maintenance activity.
- 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
