economics
U.S. natgas prices fall 5% on lower LNG feedgas, weekend storm
U.S. natural gas futures fell about 5% to a one-week low due to forecasts for milder weather than previously expected, a potential demand destroying storm on the East Coast this weekend and a decline in the amount of gas flowing to LNG export plants.
Moldova will uphold deal with Gazprom to prevent crises
Moldova will uphold its gas supply contract with Russia's Gazprom in order to ward off crises over power prices in the country and hardship in its breakaway Transdniestria region.
Strikes end at Chevron's Australian LNG facilities
An Australian union alliance called off strikes at Chevron's two major local LNG projects, agreeing to resolve disputes that had threatened to disrupt around 7% of global LNG supplies.
Asia spot LNG prices notch up amid spot buys, easing Japan inventories
Asian spot LNG prices rose $1 this week due to buying activity by China and India, easing inventory levels in Japan and higher oil prices.
China's 2023 natural gas demand may rise 8%
China's natural gas demand this year is expected to grow by 8% from 2022 to 396.4 bcm, an analyst from state-owned oil major CNOOC's research division said at a conference.
Ukraine's 2023/24 winter gas reserves seen in excess of 15 bcm
The volume of natural gas stored in Ukraine for the 2023/24 winter heating season is likely to exceed 15 billion cubic meters, the head of the Ukrainian Naftogaz company.
China gas demand seen up 8% on economic recovery, easing fuel cost
China's natural gas demand this year is expected to grow by 8% from 2022, an analyst from state-owned oil major CNOOC's research division said, a pace higher than analysts' forecasts on the back of cooling gas prices and China's economic recovery.
Norwegian August gas output lags official forecast
Norway's natural gas output fell in August from July and lagged an official forecast, while crude oil exceeded expectations, the Norwegian Petroleum Directorate.
EU launches third round of joint gas purchases
The European Commission launched a third round of joint gas purchases to secure supplies ahead of winter and help make up for Russia's slashing of deliveries.
Chevron accepts Australian labor tribunal's terms to end strike at LNG plants
Chevron said it has the accepted recommendations from Australia's labor regulator to end its dispute with unions at its LNG facilities in Western Australia.
Fugro provides geotechnical expertise for clean fuel project in Louisiana
St. Charles Clean Fuels, LLC has contracted with Fugro to provide geotechnical engineering services for an innovative 'blue' ammonia facility in southeastern Louisiana.
NextDecade secures $356-MM loan for Rio Grande LNG Phase 1
NextDecade said it has received a loan worth $356 MM from a group of lenders to finance a portion of the Phase 1 of its Rio Grande LNG export facility in Texas.
Berkshire Hathaway Maryland Cove Point LNG export plant shut
The amount of natural gas flowing to U.S. energy firm Berkshire Hathaway Energy's Cove Point LNG export plant in Maryland fell to near zero on Wednesday, a sign that the plant likely shut for work expected to start on Sept. 21.
Low demand could see 20% European gas price fall in summer 2024 compared to current projections
European gas prices are set to fall 20% by mid-2024, compared to the current forward price curve, despite the market recent tightening due to the extensions of gas field maintenance schedules in Norway and strikes at key Australian LNG fields.
German Mukran LNG import terminal seen ready by first quarter
A new floating reception terminal for LNG off the German Baltic Coast should be operational from the first quarter of 2024, gas pipeline operator Gascade, which is building its onshore connection.
Years of limited gas supply spell price spikes, Equinor says
A protracted lack of supply in the gas market means even minimal disruption will cause prices to spike, a senior executive at Equinor, Europe's largest supplier of natural gas.
Australia tribunal to rule on Chevron LNG strikes after talks fail
Fresh talks between Chevron and unions over strikes at two LNG facilities in Western Australia ended without a deal leaving it up to a workplace tribunal to map a way forward.
Egypt approves GASCO project to increase capacity of Western Desert Gas Complex
Cabinet approves GASCO project to increase capacity of Western Desert Gas Complex with fourth production line of 600 MMcf/d.
Russia has produced 410 bcm of natural gas so far this year
Deputy Prime Minister Alexander Novak said that Russia had produced 410 bcm of natural gas so far this year.
U.S. President Joe Biden opposes bill to change natural gas procedures
U.S. President Joe Biden's administration strongly opposes passage of a bill in the House of Representatives that would change procedures for the import and export of natural gas.
LNG crucial to German energy strategy
Germany must strengthen rather than abandon the LNG capability built last year to retain energy diversity in the face of continued fragility of supply.
U.S. natgas prices up 2% to two-week high on daily output drop
U.S. natural gas futures climbed about 2% to a two-week high with a drop in daily output and as the amount of gas flowing to the country's LNG export plants increases after Freeport LNG's facility in Texas returned to near full service over the past few days.
Chevron's strike-hit Australia LNG facility resumes full production
Chevron said full production had resumed at its strike-hit Wheatstone LNG facility in Western Australia after a fault last week cut production by about one-fifth.
Irish planning body rejects major LNG terminal, cites climate plan
Ireland's top planning body has refused permission for a major new LNG terminal, citing the government's greenhouse gas reduction targets, a possibly fatal blow to a project supporters say is essential to the country's energy security.
Chevron LNG strikes to have limited near-term impact on U.S. gas prices
The strikes at Chevron's LNG plants in Australia will likely have limited near-term impact on U.S. gas prices as domestic demand remains low.
Venture Global CEO says court battles are not slowing the company's LNG projects
Venture Global LNG's chief executive insisted recently that the company's development of U.S. LNG plants has not been slowed by international court battles over its failure to deliver cargoes to contract holders, including BP and Shell.
U.S. natgas prices edge up 1% on rising feedgas to Freeport LNG in Texas (U.S.)
U.S. natural gas futures edged up around 1% as the amount of gas flowing to the country's LNG export plants increases after Freeport LNG's facility in Texas returned to near full service over the past few days.
New FSRU arrives in France as Greenpeace blocks port
A new LNG FSRU arrived in western France morning, a TotalEnergies' spokesperson said, as activist group Greenpeace tried to prevent it from entering port.
ConocoPhillips signs 15-year LNG deal at Gate terminal in Netherlands
ConocoPhillips said it has signed a 15-year LNG throughput deal in the Netherlands, starting in 2031, to secure additional regasification capacity in Europe.
Russian gas exports to Europe via pipeline from Sept. 1-15 down 2% on August
Natural gas exports to Europe from Russia's Gazprom via pipeline edged down 2% in the first half of September compared to average levels in August when supplies were at their highest level this year.
- Australia's Woodside Energy to buy US LNG developer Tellurian for $1.2 billion
- 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
- Mexico Pacific announces long-term LNG SPA with POSCO International
