economics

Australia's Woodside to sell stake in Scarborough to Japan's JERA for $1.4 B

Woodside Energy is selling a 15.1% stake in its Scarborough project to Japan's JERA for about $1.4 B, marking the Australian gas producer's second stake sale to a Japanese LNG buyer in six months.

Global LNG—Asia spot prices hit near 3-yr lows as weak demand weighs

Asian spot LNG fell to a fresh low this week, easing to its lowest levels in nearly three years, as weak demand in Asia and Europe weighed on prices.

U.S. natgas spirals lower as low demand compounds plentiful supplies

U.S. natural gas futures shed more than 6% on Friday on record output, sufficient fuel in storage and lower heating demand, but prices are still headed for a weekly rise following their mid-week rally.

IEEFA: Three reasons the U.S. LNG pause does not threaten South Korea’s energy security and transition

Since the U.S. Biden Administration announced the temporary pause on new liquefied natural gas (LNG) export approvals early this year, many Asian countries have expressed concerns about the potential disruption in energy security and decarbonization goals.

Uzbekistan plans to invest $500 MM to boost gas imports from Russia

Uzbekistan plans to spend $500 MM on modernizing its mainline gas system to allow it to increase imports from Russia to 32 MMm3 a day from 9 MMm3.

KT awarded Eni contract for hydrogen production in Livorno plant biorefinery conversion

MAIRE announced that its subsidiary KT - Kinetics Technology (Integrated E&C Solutions) has been awarded an EPC contract by Italian Energy company Eni to build a hydrogen production plant at Eni’s Livorno refinery.

Guyana's $1.9-B gas-to-power project delayed to 2025

Guyana will delay until 2025 its biggest effort to capitalize on its energy bounty, a $1.9 billion gas-to-power project that was to start this year, using untapped gas to slash electricity costs.

Occidental Considers $18 Billion Sale of Western Midstream, Sources Say

Occidental Petroleum is exploring a sale of Western Midstream Partners, a U.S. natural gas-focused pipeline operator that has a market value of more than $18 billion, including debt, according to people familiar with the matter.

Danish Tyra gas field on track to restart in March

Denmark's Tyra natural gas field remains on track to restart production at the end of March.

Equitrans delays WV-VA Mountain Valley natgas pipe again, boosts cost

U.S. energy firm Equitrans Midstream delayed the completion date for its Mountain Valley natural gas pipeline from West Virginia to Virginia to the second quarter of 2024 from the previous estimate of the first quarter.

China's CNOOC receives approval for second LNG berth at Yancheng port

Chinese state-owned CNOOC has received government approval to build a second berth at its LNG receiving terminal in Yancheng in eastern Jiangsu province, according to a statement from the Shanghai Petroleum and Natural Gas Exchange.

El Niño pushes real U.S. gas prices to multi-decade low

Inflation-adjusted U.S. gas prices have fallen to the lowest level for over 30 years as a mild winter and continued production growth leave the market carrying a growing surplus of inventories.

Democratic U.S. senator opposes Biden pause on LNG exports

Democratic U.S. Senator Michael Bennet opposes President Joe Biden's decision to pause approvals of new exports of LNG, saying that it could undercut U.S. efforts to supply gas to Europe as it replaces Russian exports.

Pavilion Energy, Rio Tinto complete ship-to-ship LNG bunkering operation

Singapore's Pavilion Energy has completed a ship-to-ship LNG bunkering operation with global mining giant Rio Tinto via the newly built Brassavola bunker vessel, marking the vessel's first ship-to-ship LNG bunkering operation.

Veolia agrees to buy Hungarian gas-fired power plant from Uniper

Veolia has agreed to buy a 430-megawatt, gas-fired power plant in Hungary from German energy firm Uniper.

Equinor signs 15-year LNG deal with India's Deepak Fertilizers

Norway's Equinor said it had signed a 15-year agreement to supply LNG to India's Deepak Fertilizers from 2026.

Venture Global seeks extension for completion of Calcasieu Pass LNG

Venture Global LNG sought a one-year permit extension to complete construction of its Calcasieu Pass gas-export plant in Louisiana, in a filing with the U.S. Federal Energy Regulatory Commission.

Tellurian shares rise on U.S. permit extension to construct Driftwood LNG plant

Cash-strapped Tellurian Inc won a three-year permit extension to complete construction of its Driftwood LNG export plant, a boost for the long-delayed liquefied natural gas project.

U.S. regulators approve Mexico Pacific LNG's Saguaro connector pipeline

U.S. energy regulators approved a cross-border pipeline that would export about 2.8 Bcfd of natural gas from Texas to Mexico Pacific's Saguaro LNG export plant on Mexico's west coast.

Italy awaits EU clearance on $5.2-B tariff to cover gas storage costs

Italy's energy authority is awaiting clarity from the European Union on whether a planned tariff to cover costs of gas storage filling, potentially worth $5.18 B, is in compliance with the single market rules.

U.S. natural gas prices edge up from 3-1/2-year low ahead of storage report

U.S. natural gas futures edged up about 1% on forecasts for more demand over the next two weeks than previously expected, and as some producers said they would reduce output in 2024 after prices plunged to a 3-1/2-year low.

Shell's lofty ambitions for Asian LNG demand face price hurdle

Shell's forecast that global demand for LNG will surge by more than 50% by 2040 is both bold and questionable, with some of the underlying assumptions not supported by current trends, especially in the key Asia markets.

North Dakota natural gas output hits record high in December, flaring eases

Natural gas production in North Dakota in December rose to a record 3.525 Bcfd from the prior all-time high of 3.469 Bcfd in November, while gas flaring eased.

U.S. House passes bill to reverse Biden's LNG pause

A bill to strip the power of President Joe Biden's administration to freeze approvals of liquefied natural gas exports passed in the Republican-controlled U.S. House of Representatives on Thursday, but faces an uphill battle in the Senate.

FERC greenlights methane export pipeline for large-scale LNG supply to China via Mexico's Pacific Coast

In a split decision handed down today, the Federal Energy Regulatory Commission issued a Presidential Permit and granted authorization to allow Oklahoma-based Oneok Inc. to build the Saguaro natural gas export Pipeline.

Heidelberg Materials North America announces latest step in Edmonton CCUS Project

Heidelberg Materials North America announced a significant milestone in its two-stage competitive procurement process as it works to select the capture technology and contractor for providing the CO2 separation solution for its Edmonton, Alberta, Carbon Capture, Utilization, and Storage Project.

GTA LNG project reaches major milestone with arrival of FLNG vessel

The FLNG vessel that is a core component of the Greater Tortue Ahmeyim LNG project has arrived at its destination on the Mauritania and Senegal maritime border.

STX Group announce unique financing partnership with Biovalue for Dutch biomethane plant

STX Group announced the financing partnership with BioValue for the construction and development of the Groengas Cothen biomethane plant.

Cyprus could produce first natural gas as soon as 2026

Cyprus could start producing its first natural gas as soon as 2026 and plans to participate in a high-powered electricity cable project linking the eastern Mediterranean to continental Europe.

Japan gas utility lobby says U.S. remains key LNG supplier

The head of Japan's gas utilities group said the United States, the world's biggest exporter of LNG, remains an important supply source for Japan despite the recent pause in U.S. LNG export permits.