economics
Aramco to up stake in EIG's MidOcean to 49%, fund new stake in Peru LNG
Saudi Aramco will increase its stake in liquefied natural gas (LNG) firm MidOcean Energy to 49% and fund its acquisition of a new 15% stake in Peru LNG from Hunt Oil Company.
Egypt fully awards tender for 20 winter LNG cargoes
Egypt has bought 20 cargoes of liquefied natural gas (LNG) via the first tender issued to cover its winter demand since 2018, securing full volumes it was seeking at smaller than expected premiums.
EU LNG import utilization falls as demand declines
European Union LNG import terminals are being utilized less as demand for the fuel continues declining across the continent, increasing the realization that Europe’s LNG import infrastructure will become increasingly underutilized as gas use drops further.
Japan considers company support measures for long-term LNG contracts
The Japanese government is considering support measures to make it easier for companies to enter into long-term purchase contracts for liquefied natural gas (LNG) to ensure a stable supply of the super-chilled fuel.
EIA: U.S. natgas output to decline in 2024 while demand rises to record high
U.S. natural gas production will decline in 2024 while demand will rise to a record high, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook.
China’s Hudong-Zhonghua Shipyard to build six new QC-Max LNG vessels for QatarEnergy
QatarEnergy has signed an agreement today with China State Shipbuilding Corp. (CSSC) for the construction of six additional state-of-the-art QC-Max vessels, bringing the total number of LNG vessels on order under its fleet expansion program to 128, including 24 QC-Max mega vessels.
EIA: Natural gas pipeline capacity from the Permian Basin is set to increase
According to the U.S. Energy Information Administration (EIA), natural gas pipeline takeaway capacity in the Permian Basin will soon increase as the Matterhorn Express pipeline, with a capacity of 2.5 Bft3d, is expected to begin service this month.
U.S. regulators okay first step to start Plaquemines LNG plant in Louisiana
Federal regulators on Friday gave Venture Global LNG permission to begin preparations for the startup of liquefied natural gas (LNG) equipment at its Plaquemines export plant in Louisiana, taking a step closer to first LNG production for the facility, about 20 miles south of New Orleans.
Gunvor growing Asia operations, expanding into LPG, naphtha, gasoline, aromatics, power
Global energy trader Gunvor Group is growing its Asia operations to expand in existing markets such as liquefied petroleum gas (LPG), naphtha, gasoline and aromatics as well as into new areas including power.
LNG entities under U.S. sanctions to curb Russia's Arctic LNG 2 project
The U.S. has imposed sanctions on hundreds of entities and individuals for supporting Russia's war effort in Ukraine, including companies supporting the development of Russia's Arctic LNG 2 project and its shipment of LNG, as well as other future energy projects.
Poland's Orlen signs Lithuania deal to boost LNG deliveries
Polish refiner Orlen signed a five-year agreement with Lithuanian oil and gas logistics firm KN Energies for exclusive use of a waterfront LNG transshipment station in Klaipeda.
Santos signs 500,000-tpy LNG supply contract with Glencore
Santos will supply 19 LNG cargoes, or up to approximately 500,000 tpy of LNG over a period of 3 yr plus one quarter to Glencore Singapore Pte Ltd.
U.S. LNG export dominance tested as Europe's demand wilts
The United States has remained the largest exporter of liquefied natural gas (LNG) so far in 2024, but a steep drop in selling prices and a sharp swing in export volumes to key markets is likely testing exporter appetite to stay on top.
Putin arrives in Mongolia, key link in planned gas pipeline to China
The Kremlin said on Monday that Russian President Vladimir Putin had arrived for a state visit in Mongolia, which lies on the route of a planned new gas pipeline connecting Russia and China.
Turkey's Botas buying 4 Bm3y of LNG from Shell in 10-year deal
Turkish state energy company Botas and British oil major Shell have signed a 10-year LNG agreement for a total of 40 LNG cargoes of approximately 4 Bm3 to be delivered annually for a period covering 10 years starting from 2027.
Egypt counts on foreign funds to buy gas as power crisis worsens
Saudi Arabia and Libya have financed the purchase of gas cargoes worth at least $200 MM to help Egypt ease its energy crisis this summer amid a steep decline in domestic gas output.
Russia's Gazprom says H1 net income more than tripled to $10.9 B
Kremlin-owned gas giant Gazprom said on Thursday its first-half net income more than tripled from a year earlier to more than 1 T roubles ($10.9 B), thanks to rising gas exports and cost controls.
Asia spot LNG prices rise on supply concerns, geopolitical tensions
Asian spot liquefied natural gas (LNG) prices rose this week as outages in LNG facilities in Australia and Malaysia sparked supply concerns, although buying interests from China remained limited due to higher price levels.
Russia presses ahead with Arctic LNG 2
Russia's largest liquefied natural gas (LNG) producer Novatek appears to be preparing a floating storage unit (FSU) to receive gas as part of its Arctic LNG 2 project, in defiance of sanctions.
ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
ONEOK announced that it has executed a definitive agreement with Global Infrastructure Partners under which ONEOK will acquire interest in EnLink Midstream and Medallion Midstream for nearly $6 B.
Mexico Pacific announces long-term LNG SPA with POSCO International
Mexico Pacific, owner of the Saguaro Energía LNG facility and associated Sierra Madre Pipeline, announced that it has signed a sales and purchase agreement of 700,000 tpy of LNG with POSCO International Corporation.
Kremlin says Europe will pay more unless Ukraine extends gas transit deal
European consumers will face higher prices unless Kyiv agrees to extend a deal on Russian gas transit via Ukraine once it expires on Dec. 31.
Nigeria's NNPC sending LNG cargoes to Japan and China
State-owned Nigerian oil company NNPC has expanded shipments of liquefied natural gas (LNG) cargoes to a port in China after its first delivery to Japan in June.
Prices rise as Australian LNG outage fuels supply concerns
Dutch and British wholesale gas prices rose on Tuesday afternoon on supply concerns raised by an extended outage at an Australian LNG plant and geopolitical risk, though strong storage inventories are limiting the upside.
New Zealand to pass laws to expediate LNG imports amid energy shortages
New Zealand said it would pass laws by the end of this year to reverse a ban on offshore oil and gas exploration, and take urgent steps to remove regulatory hurdles to import LNG amid energy shortages.
ADNOC deploys pioneering AI-enabled process optimization technology
Following successful initial operations, ADNOC announced the deployment of an industry leading artificial intelligence (AI)-enabled process optimization technology--Neuron 5--across all ADNOC facilities across thousands of critical pieces of equipment essential for production, including compressors, valves and generators.
Woodside Energy earnings set to dip as investors eye strategic deals
Woodside Energy, Australia's top independent gas producer, is on track to post a drop in interim earnings on Tuesday, with investors focusing on its deal-making strategy after the collapse of a $52-B merger with Santos.
Asia spot LNG prices ease from 8-month top on weaker demand
Asian spot liquefied natural gas (LNG) prices eased this week from a more than 8-mos top on the back of easing spot demand and as European gas prices also fell.
U.S. natgas prices drop 6% to 2-week low on big storage build, less heat
U.S. natural gas futures dropped by about 6% to a two-week low on Thursday on a bigger-than-expected weekly storage build and forecasts for less hot weather over the next two weeks than previously expected.
Enterprise to acquire Piñon Midstream for $950 MM
Enterprise Products Partners L.P. and Piñon Midstream announced that Enterprise’s affiliate has entered into a definitive agreement to acquire Piñon Midstream in a debt-free transaction for $950 MM in cash consideration.
- Australia's Woodside Energy to buy US LNG developer Tellurian for $1.2 billion
- Power Knot LLC receives continued orders from ExxonMobil PNG for food waste digester consumables, spare parts
- Gasum powers Equinor's platform supply vessel with bio-LNG
- Oman plans third LNG train, boosting domestic production to more than 15 MMtpy
- ADNOC deploys pioneering AI-enabled process optimization technology
