economics

Equinor's Hammerfest LNG plant outage extended

The planned restart of Equinor's Hammerfest LNG plant, which was evacuated and shut earlier this week due to a gas leak, has been postponed until Saturday, transparency data showed.

U.S. natgas drops on lower feedgas to Freeport LNG, storage surplus

U.S. natural gas futures slipped ahead of the expiration of the May contract, weighed down by a drop in feedgas to Freeport LNG's Texas export terminal and a huge surplus of gas in storage.

TotalEnergies chief calls potential EU sanctions on Russian LNG a financial boon

Sanctions on Russian gas from the Yamal LNG project would cause prices to spike and profit global gas sellers including TotalEnergies, chief executive Patrick Pouyanne said, in response to an analyst question about the impact of potential EU sanctions.

Aspen Technology introduces new strategic planning for sustainability pathways solution

Aspen Technology, Inc. introduced AspenTech Strategic Planning for Sustainability Pathways – a new and unique integrated modelling and optimization solution that aims to guide companies in carbon capture utilization and storage decision making and sustainability strategy investments.

Asia spot LNG prices fall for first time in over two months

Asian spot LNG prices dropped slightly for the first time in more than two months this week over expectations of weak demand, amid easing concerns around supply due to tensions in the Middle East.

Shareholders’ Resolution: MOL to pay $668-MM dividend

At the Annual General Meeting of MOL Plc, shareholders approved the Board of Directors' financial performance report for 2023 and adopted the parent company- and consolidated financial statements.

European Commission expected to propose new sanctions on Russian LNG

The European Commission's next sanctions package is expected to propose restrictions on Russian LNG for the first time, including a ban on trans-shipments in the EU and measures on three Russian LNG projects.

U.S. natgas prices drop 5% on forecasts for less demand

U.S. natural gas futures slipped about 5% on an outlook for reduced heating demand next week and on the eve of a closely watched weekly federal storage report.

DTE Energy misses quarterly profit estimates on natgas unit weakness

Electric and gas utility DTE Energy missed Wall Street estimates for the first-quarter profit, hurt by weakness in its natural gas unit.

Equinor to expand LNG trading, eyes deals in Europe, Asia, senior exec says

Norwegian energy group Equinor plans to expand its LNG trading business and is in talks with a number of potential buyers in Europe and Southeast Asia.

First tanker in 12 days sets sail from Freeport LNG in Texas (U.S.)

The first tanker in 12 days set sail from Freeport LNG's Texas export terminal, signaling the resumption of gas processing after an outage this month.

Rising spot LNG prices starting to bite some Asian buyers

There are early signs that the rise in the spot price for LNG for delivery to Asia to a three-month high is starting to crimp demand from price-sensitive buyers such as India.

Steep discounts, new vessels spur demand for LNG to power ships

Demand for LNG to power ships will rise this year on attractive prices, while more dual-fuel vessels join the global fleet, industry executives said.

Pressure on gas and LNG prices to help switch from coal, says J.P. Morgan

Global natural gas prices will come under pressure through the end of the decade as supply and shipping infrastructure grow rapidly, particularly in Qatar and the U.S., J.P. Morgan said in a report.

Russia does not rule out LNG exports stagnating in next 4 years

Russia's LNG exports could stagnate in the next four years under the two less-rosy of three Economy Ministry scenarios - a sign that Western sanctions might be cramping Moscow's energy plans.

Canada's TC Energy says NGTL pipeline system resumes normal operations after fire

TC Energy's NGTL gas pipeline system in the western Canadian province of Alberta has resumed normal operations after a rupture prompted the company to reduce pressure on a segment of the line.

Spain's gas use falls again despite recovery in industrial demand

Spain's gas demand fell 4% in the first quarter of the year as a drop in use to produce electricity and keep homes warm during a mild winter offset a higher industry requirement.

Russia's Gazprom ships first LNG cargo this year from Portovaya to Asia around Africa

Russia's Gazprom is shipping its first cargo of LNG to Asia this year from its Portovaya plant on the Baltic Sea, travelling around the southern tip of Africa in order to avoid the Red Sea.

U.S. natural gas consumption set annual and monthly records during 2023

In 2023, the United States consumed a record-high 89.1 Bcfd of natural gas, marking a 4% average annual increase in consumption since 2018.

Hong Kong's Wah Kwong orders more LNG carriers banking on growing trade

Hong Kong-based shipping company Wah Kwong is finalizing a deal later this month to double the number of LNG carriers that it has ordered to four, as it eyes growing global trade in the superchilled fuel.

First tanker in 11 days arrives at troubled Freeport LNG export plant

The first LNG tanker to dock at Freeport LNG's gas liquefaction plant in 11 days arrived on over the weekend.

U.S. natural gas prices up over 1% on rising feedgas to Freeport LNG

U.S. natural gas futures rose more than 1%, as an increase in feedgas to the Freeport LNG export plant and a drop in output outweighed lower demand forecasts for next week and mild weather outlook.

Technip Energies OQ’s Marsa LNG project in Oman

Technip Energies has been awarded a substantial contract by TotalEnergies and OQ for the Marsa LNG bunkering project located in Sohar, Oman.

TotalEnergies launches the Marsa LNG project and deploys it's multi-energy strategy in the Sultanate of Oman

During a visit in Muscat, Patrick Pouyanné, Chairman and CEO of TotalEnergies met with His Majesty Sultan Haitham bin Tariq Al Saidand His Excellency Eng. Salim bin Nasser Al Aufi, Minister of Energy & Minerals, to reaffirm the long-term partnership between TotalEnergies and the Sultanate of Oman.

TotalEnergies signs an agreement to acquire the remaining 50% of SapuraOMV

TotalEnergies has signed an agreement with Sapura Upstream Assets Sdn Bhd to acquire its 50% interest in Malaysian independent gas producer and SapuraOMV for a consideration of $530 MM, subject to closing adjustments.

Oman LNG forges strategic partnership with BOTAS for LNG supply to Turkey

Oman LNG solidifies its global energy presence by entering into a strategic partnership with BOTAS, aimed at supplying LNG to Turkey and fostering international collaboration in the energy sector.

PetroChina lifts first spot LNG cargo from PNG national oil firm

PetroChina International has lifted a spot cargo of LNG from the PNG LNG project sold by Papua New Guinea's national oil company.

U.S. natgas prices up 2% to one-week high on colder forecasts, drop in output

U.S. natural gas futures climbed about 2% to a one-week high on forecasts for cooler weather and more demand next week than previously expected a continued drop in output and rising gas flows to LNG export plants, including Freeport LNG.

Asia spot LNG at fresh three-month high on supply concerns

Asian spot LNG prices rose this week to a new three-month high due to supply concerns amid tensions in the Middle East and a drop in feedgas deliveries to two LNG terminals in the U.S.

U.S. natgas flows rise to Texas Freeport and other LNG export plants

The amount of natural gas flowing to the seven U.S. LNG export plants, including Freeport LNG, was on track to jump by around 17% from a 15-month low.