economics
Commonwealth LNG urges Biden to support pending LNG export application
U.S. LNG developer Commonwealth LNG on Thursday called on President Joe Biden to support its long-pending LNG export application.
Asia spot LNG prices fall to 7-mth low as stocks remain plentiful
Asian spot LNG prices slid for an eighth consecutive week to hit their lowest levels in seven months, as healthy storage levels in both Europe and northeast Asia continued to weigh on prices.
Russia's Sibur raised LPG exports via Baltic Sea ahead of sanctions
Russia's biggest petrochemicals producer Sibur increased exports of LPG by almost a quarter last year via the Baltic Sea port of Ust-Luga in expectation of Western sanctions.
U.S. natural gas prices jump 6% on big storage withdrawal, record demand forecasts
U.S. natural gas futures jumped about 6%, on track to close at a two-month high, on a bigger-than-expected storage withdrawal last week and forecasts extreme cold in coming days will boost gas demand to record highs.
Tokyo Gas expects to close sale of Australian LNG assets at end of February 2024
Japan's biggest city gas provider, Tokyo Gas, said it expects to close the planned sale of its stakes in a portfolio of four Australian LNG projects at the end of February.
EIA expects Henry Hub natural gas spot price to average under $3.00/MMBtu in 2024 and 2025
EIA expect the U.S. benchmark natural gas spot price at the Henry Hub to average under $3.00 per MMBtu in 2024 and 2025 in our January Short-Term Energy Outlook.
Chesapeake aims for top U.S. natural gas producer spot with $7.4-B deal for Southwestern
Chesapeake Energy said it would buy smaller rival Southwestern Energy in an all-stock transaction valued at $7.4 B, a deal that would enable the second-largest U.S. natural gas producer to take the top spot.
Norway gas exports hit record in December but drop 6.7% in 2023 overall
Norway's export of natural gas via pipelines to Europe hit an all-time high in December but still declined by 6.7% overall in 2023 following lengthy maintenance outages.
Vopak consortium selected to operate new LNG terminal in South Africa
South Africa has selected a Vopak consortium as the preferred bidder to develop and operate a LNG terminal at the Port of Richards Bay for 25 years.
Oil, gas lobby group warns against U.S. slowing down LNG approvals
The head of the main U.S. oil and gas lobby group said that if U.S. regulators slow down or stop approving LNG exports, they will put U.S. allies at risk.
Portugal's Galp seeks to join formal complaint against U.S. LNG exporter
Portugal oil and gas firm Galp has asked U.S. regulators to allow it to join bp and Shell's formal complaints against U.S. LNG exporter Venture Global LNG, a filing showed on Tuesday.
Algeria held oil and gas investment talks with ExxonMobil
Algerian energy minister Mohamed Arkab has discussed oil and gas investments in Algeria with the U.S. oil major ExxonMobil.
Curtiss-Wright Exlar announces new Tritex EVA for oil & gas valve actuation
Curtiss-Wright’s Actuation Division announced that its new Exlar Tritex EVA electric valve actuator has achieved CSA Class 1, Division 2 Hazardous Location certification.
Shell anticipates Q4 setback with $4.5B write-down on Singapore assets, despite LNG production rise
Ahead of fourth-quarter results on Feb. 1, the company also said gas trading would be significantly higher than the previous three-month period, while oil trading results were expected to be significantly lower over the same period.
Constellation's Everett takes LNG delivery from Trinidad
U.S. energy group Constellation Energy's Everett LNG import plant in Massachusetts took delivery of LNG from Trinidad over the weekend.
Japan's Kyushu Electric may invest in Lake Charles LNG project in U.S.
Kyushu Electric Power is considering investing in the U.S. Lake Charles LNG project of Energy Transfer, among other projects, to secure a stable supply of the fuel.
U.S. natural gas prices gain 3% to six-week high with extreme cold coming
U.S. natural gas prices climbed about 3% to a six-week high on forecasts that extreme cold weather in mid- to late January will boost demand for the fuel for heating to its highest since hitting a record during a winter storm in December 2022.
Dutch government to turn on 'pilot light' output at Groningen gas field
The Dutch government said it would turn on the "pilot light" - meaning minimal production - at two stations in the Groningen gas field due to impending cold temperatures in the Netherlands.
Ksi Lisims LNG signs its first supply agreement with Shell
Energy major Shell has entered into a deal to buy 2 MMt of LNG per year from the Ksi Lisims LNG, partners in the Canadian project said.
U.S. natural gas producers seek to balance production cuts, demand rebound
The longer natural gas prices stay lower in 2024 and drilling and related activity pulled back, the market could overshoot to both the downside and upside next year as it seeks to find an equilibrium.
India's GAIL signs 10-yr LNG purchase deal with Vitol
State-run GAIL Ltd said it has signed a 10-year LNG import deal with trader Vitol to buy about 1 MMtpy of the super-chilled fuel from 2026.
Asia spot LNG prices dip to 5-month low as stocks weigh
Asian spot LNG prices slipped to a five-month low this week, extending losses that began in mid-November as mild winter weather and high inventories curbed demand.
Finland orders more gas amid cold spell, record power price
Finland's gas system operator said t had invoked its right to order a rapid extra delivery of LNG to ensure market balance amid a surge in demand driven by a prolonged cold spell that drove up electricity prices.
Asia's LNG imports hit record, but supply surge keeps price muted
Asia's imports of LNG rose to a record in December, but spot prices remained subdued as shipments from top exporters Australia and the United States also hit all-time highs.
Capital Product Partners L.P. takes successful delivery of the LNG carrier ‘Axios II’
Capital Product Partners L.P. , an international owner of ocean-going vessels, announced that it successfully took delivery of the LNG Carrier ‘Axios II’.
Shell backs bp in fight over Venture Global LNG exports
Shell PLC has joined bp PLC in its battle against Venture Global LNG, accusing the LNG producer of denying it and other customers access to supplies while exporting more than $18 B worth of the superchilled gas.
Russian gas exports to Germany down by a third in 2023
Russian gas exports to Germany down by 32.6% in 2023, mainly as Germany saved on energy and imported less after Russia cut off westbound shipments the previous year.
German gas storage operators warn of overblown plans for hydrogen grids
Germany's future hydrogen demand could fall well short of the baseline the country is assuming in its plans to extend its gas network to carry the fuel.
U.S. Henry Hub natural gas prices in 2023 were the lowest since mid-2020
The U.S. benchmark Henry Hub natural gas price averaged $2.57 per million British thermal units (MMBtu) in 2023, about a 62% drop from the 2022 average annual price, according to data from Refinitiv Eikon.
Air Liquide presses Mexico for answers after the government confiscated hydrogen plant
French industrial gas manufacturer Air Liquide is seeking answers from the Mexican government after it took control of a hydrogen processing plant in Hidalgo state.
- Shareholders’ Resolution: MOL to pay $668-MM dividend
- Credit Agricole says it will not fund two major LNG projects
- Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant
- Japan's JERA suspends output at 4 gas-fired power plants to secure LNG stocks
- TotalEnergies: Papua LNG project requires 'more work' to reach final investment decision
- Technip Energies awarded a major LNG contract for the North Field South Project by QatarEnergy
- Shell publishes Energy Transition Strategy 2024
- QatarEnergy to charter 19 new LNG vessels expanding fleet further
- Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant
- Mabanaft announces successful acquisition of WESTFA Energy GmbH
