economics
Egypt in talks with foreign companies over long-term LNG purchases
Egypt is in talks with U.S. and other foreign companies to purchase long-term volumes of LNG, as it seeks to cut its reliance on more costly spot market purchases to meet power demand.
Japan's LNG handling volume up 1% in FY23/24 as external trade rises
The volume of liquefied natural gas (LNG) handled by Japanese companies rose 1% year-on-year to 103.13 MM tonnes (t) in the fiscal 2023/24 year as external trade increased.
Finland's Gasum buys Danish biogas plant
Finland's Gasum has signed an agreement to acquire Haerup Biogas, which owns and operates a biogas plant in the northern part of Denmark.
LNG tankers divert to Europe from Asia after Russia halts supplies to Austria's OMV
At least five cargoes of liquefied natural gas (LNG) have diverted from Asia to Europe in the past few days, drawn by higher gas prices on the continent after Russia's Gazprom halted supplies to Austria's OMV.
Venture Global LNG's second plant running over budget, document shows
Venture Global LNG's second liquefied natural gas (LNG) export plant, currently under construction in Louisiana, is $2.35 B over budget and costs could still rise, according to financial documents prepared for its initial public offering of shares.
U.S. natgas prices slide 3% on rising output, less cold forecast for late November
U.S. natural gas futures slid about 3% to a one-week low on Friday on an increase in daily output and forecasts for less cold weather in late November than previously expected.
ADNOC Gas signs 10-yr LNG SPA with India’s GAIL
ADNOC Gas has signed a 10-yr Sales and Purchase Agreement (SPA) with GAIL India Limited to supply up to 520,000 tpy LNG, starting in 2026. The SPA converts the previous Heads of Agreement between ADNOC Gas and GAIL, announced in January, into a definitive agreement.
Bangladesh seeks potential LNG suppliers in new enlistment process
Bangladesh has issued an enlistment invitation for companies to supply the South Asian nation with LNG on a spot basis.
ADNOC GAS to acquire 60% of Ruwais LNG from ADNOC, valued at $5 B
ADNOC Gas expects ADNOC to transfer its 60% share of the Ruwais LNG Project to the company at cost - estimated to be around $5 B - in the second half of 2028.
Opinion: Trump-led oil and gas export boom may go bust in Europe trade spat
Oil and gas producers in the U.S. expect to find it easier to ramp up production and exploration under the incoming second administration of Donald Trump. Finding local and lucrative markets for their wares may be the bigger challenge.
ADNOC secures 15-yr, 1-MMtpy sales and purchase agreement for Ruwais LNG project
ADNOC has signed the first long-term sales and purchase agreement (SPA) for the lower-carbon Ruwais liquefied natural gas (LNG) project, which is currently under development in Al Ruwais Industrial City, Abu Dhabi.
Facing tariff threat, Europe eyes options to appease Trump, including LNG
The European Union is considering options to appease Donald Trump on his return to the White House as it braces for a resumption of U.S. tariffs and other trade threats plus tough exchanges on how to treat China.
Europe's October LNG imports show rare increase, Asia's dip
Europe's imports of liquefied natural gas (LNG) rose in October for the first month in 10 while those in Asia dropped for the first time since June, but not by enough to stop the combined total from increasing.
Crown LNG executes final agreements to acquire Kakinada and Grangemouth LNG import terminal assets
Crown LNG Holdings Ltd., a leading provider of liquefied natural gas (LNG) liquefaction and regasification terminal technologies for harsh weather locations, has concluded two strategic acquisition agreements forming the basis of Crown LNG's entry into the global LNG infrastructure network: KGLNG and Grangemouth.
U.S. natural gas prices ease on forecasts for mild weather
U.S. natural gas futures fell on Monday on expectations that mild weather through mid-November would keep heating demand low, allowing utilities to build up gas storage for few more weeks.
U.S. exports of ethane and ethane-based petrochemicals rose 135% from 2014 to 2023
U.S. exports of ethane and ethane-based petrochemicals reached an all-time high of 21.6 MMt in 2023, up 135% since the U.S. began exporting ethane in 2014 and 17% more than in 2022, according to data from the U.S. Census Bureau.
Oman's OQ to list up to 49% stake in methanol, ammonia and LPG arm
Oman's OQ Base Industries, the methanol, ammonia and LPG arm of state-owned OQ, plans to list an up to 49% stake on the local stock exchange. The listing is part of a privatization program by state-owned energy group OQ to diversify its economy and cut its debt.
China's Sinopec signs agreement for 15-yr LNG deal with TotalEnergies
China's state oil and gas major Sinopec Corp said it has signed Heads of Agreement to buy from TotalEnergies 2 MMtpy of LNG a year for 15 yrs starting 2028.
Cepsa becomes Moeve
Cepsa has announced its name change to Moeve, marking a historic milestone in the company’s transformation.
Equinor strengthens gas portfolio
Equinor has signed an agreement with EQT Corporation to acquire additional non-operated interest in the Northern Marcellus formation in the US. Equinor will pay $1.25 B to EQT in the transaction.
Gazprom subsidiary files $880-MM claim against Linde
A subsidiary of Russia's gas major Gazprom has filed a claim for 85.7 B roubles ($879 MM) against global industrial gases and engineering company Linde and its subsidiaries.
U.S. elections pose bearish risk to global LNG markets
The upcoming U.S. election could pose a bearish risk to global natural gas markets, specifically liquefied natural gas (LNG), despite the anticipated limited near-term impact on domestic markets.
JPMorgan looks to resume trading physical LNG
JPMorgan Chase is in talks to resume trading physical LNG after more than a decade. The bank has had talks with at least three projects under development in the Gulf Coast to get a long-term LNG supply.
U.S. ethane production reached a record 3 MMbpd in May 2024
U.S. ethane production increased steadily over the last decade and reached a record of 3 MMbpd in May 2024. Ethane production in the first half of 2024 (1H24) averaged a record 2.8 MMbpd, according to data from the U.S. EIA.
U.S. natgas prices jump 8% on cooler weather, higher global gas prices
U.S. natural gas futures jumped about 8% to a one-week high on Thursday on forecasts for cooler weather and more heating demand over the next two weeks than previously expected and on rising prices for gas in global markets that should boost the value of U.S. liquefied natural gas (LNG) exports.
Neste to re-evaluate its renewable H2 plan and withdraw from investing into a 120-MW electrolyzer at the Porvoo refinery
Neste has decided to withdraw from investing into a 120-MW electrolyzer project to produce renewable hydrogen (H2) at its Porvoo refinery in Finland.
Repsol freezes green H2 projects in Spain
Repsol has paused its planned green H2 projects in Spain, which would have had a combined electrolysis capacity of 350 MW, due to an unfavorable regulatory environment.
LNG-fueled trucking accelerates in Asia, denting diesel demand
Trucking fleets in China are embracing cleaner-burning LNG for fuel, accelerating a decline in diesel demand and rattling suppliers to the world's biggest oil importer.
Qatar LNG sales to key Asian markets confronted by U.S., UAE rivalry
Qatar is finding it hard to agree new deals to supply liquefied natural gas (LNG) to Japan and South Korea as rising competition from the U.S. and elsewhere with more flexible contract terms challenges Doha's decades-old dominance of the market.
U.S. natgas prices hold near 1-month low as LNG feedgas rise offsets mild weather
U.S. natural gas futures held near a one-month low on Friday as a bullish rise in the amount of gas flowing to liquefied natural gas (LNG) export plants offset bearish forecasts that mild weather will keep heating demand low through early November.
- Japan's Mitsubishi to acquire stake in Petronas LNG plant
- McDermott awarded Rovuma LNG Phase 1 FEED contract in Mozambique
- Wood leads industry project to accelerate CCUS with guidelines for CO2 specifications
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Sonatrach, Saudi Aramco raise prices for LPG by 3%–4% in October
- Amarinth secures $1-MM order of API 610 pumps for Coral North FLNG project in Mozambique
