economics

U.S. natgas prices fall 5% on big storage build, low feedgas to Freeport LNG

U.S. natural gas futures dropped about 5% on a bigger-than-expected storage build and forecasts for lower demand over the next two weeks than previously expected due to a drop in feedgas to the Freeport LNG export plant in Texas.

Galveston LNG Bunker Port advances with construction permit application

Galveston LNG Bunker Port, LLC, formed as a partnership between Pilot LNG and Seapath Group, has taken a significant step forward in its plans to establish the GLBP small-scale natural gas liquefaction facility on Shoal Point in Texas City, Texas.

Mild winter weather may lead to persistently high natural gas inventories through 2025

The surplus to the five-year average grew over winter 2023–24 because of mild weather, low natural gas consumption, and high natural gas production. In our April Short-Term Energy Outlook, the U.S. EIA expects natural gas inventories to remain relatively high and natural gas spot prices to remain relatively low through 2025.

APA curtailed natural gas production in Q1 amid weak prices

U.S. oil and gas producer APA Corp said that it had curtailed natural gas production in the first quarter due to weak prices.

Germany's Mukran LNG terminal receives operating permit

Germany's Baltic Sea import terminal for LNG at Mukran on Ruegen island has received its operating permit under federal and state laws.

Mubadala-backed Atvos inks deal to build $69 MM biomethane plant in Brazil

Brazilian ethanol producer Atvos has signed an agreement to build a biomethane factory in the state of Mato Grosso do Sul, with investments seen at more than $69.4 MM.

AVEVA and Newpoint Trillium Management announce partnership for clean hydrogen project

AVEVA announced a strategic partnership with Newpoint Trillium Management, LLC creating a digital twin for their clean hydrogen and manufacturing projects to reindustrialize the former Department of Energy sites in Ohio and Kentucky as well as projects throughout Central Appalachia.

U.S. natgas flows to Texas Freeport LNG export plant rises

The amount of natural gas flowing to Freeport LNG's LNG export plant in Texas was on track to rise for a second day in a row, according to data from financial firm LSEG.

Chevron hands Myanmar gas field stake to junta, Thailand's PTTEP

U.S. energy company Chevron has quit the Yadana natural gas field in Myanmar, a spokesperson said, more than two years after it condemned violence and human rights abuses there and announced it would leave.

The illusion of accuracy in analyzing plant failures

This article highlights the challenges faced by plant engineers in accurately determining damage mechanisms, discussing three common illusions of accuracy including temperature limits, reliance on single references, and confirmation bias during failure investigations.

TotalEnergies: Papua LNG project requires 'more work' to reach final investment decision

French oil and gas giant TotalEnergies said a planned new LNG project in Papua New Guinea would require 'more work' before a final investment decision could be reached.

OCP and Fortescue to partner to develop green energy, hydrogen and ammonia in Morocco

OCP Group and Fortescue Energy announced a landmark JV in Morocco which aims to supply green hydrogen, ammonia, and fertilizers to Morocco, Europe, and international markets.

Investments exceeding $1 T needed for hydrogen infrastructure

Emmanouil Kakaras, Executive Vice President at Mitsubishi Heavy Industries, emphasized the necessity for substantial investments in infrastructure to facilitate the widespread adoption of hydrogen fuel in Europe and the United States.

Hapag-Lloyd receives largest LBM bunkering from STX Group and Titan Clean Fuels

STX Group and Titan Clean Fuels announced having successfully concluded a ship-to-ship bunkering of 2,200 metric tons of LBM to a Hapag-Lloyd container vessel in the port of Rotterdam.

U.S. refiners and chemical manufacturers lead hydrogen production and consumption

U.S. manufacturers specializing in chemicals and petroleum refining have traditionally accounted for the largest shares of both hydrogen consumption and production, and they pay the least for it.

bp in talks to sell some Trinidad upstream gas assets to Perenco

bp is close to an agreement to sell some of its Trinidad and Tobago oil and gas assets to Anglo-French oil company Perenco.

Mabanaft announces successful acquisition of WESTFA Energy GmbH

Mabanaft announced that it has successfully completed the strategic acquisition of WESTFA Energy GmbH, including all its subsidiaries and shareholdings, following the earlier announcement of signing an agreement in December 2023 to purchase the business from Adeleon Familienholding GmbH, formerly WESTFA Holding GmbH.

German coalition agrees financing details of hydrogen network

Germany's ruling coalition agreed a financing mechanism for the country's future hydrogen network, extending a deadline for it to be built by five years to 2037 and offering protection for investors in case of bankruptcy.

ACME Group and Hydrogenious LOHC Technologies to jointly explore hydrogen value chains from Oman to Europe

ACME Group and Hydrogenious LOHC Technologies, have signed a Memorandum of Understanding to collaborate on a feasibility study to explore the joint development of large-scale hydrogen supply chains from ACME’s projects in Oman to supply hubs in Europe using the innovative LOHC technology.

Shell sees significantly lower Q1 LNG trading results

Shell said it expects significantly lower results from its LNG trading business in the first quarter of 2024 compared with the previous three months.

Asia spot LNG holds at 6-week top amid sustained demand

Asian spot LNG was unchanged this week, keeping at a six-week high over $9 per MMBtu for a third consecutive week, as demand from buyers continued shoring up prices.

Shell, Aramco in final stage of Pavilion Energy talks

Shell and Saudi Aramco, which are competing to buy the assets of Temasek-owned LNG trading firm Pavilion Energy, are now locked in price negotiations after completing the due diligence process,.

Enbridge wins approval to commence service on Louisiana (U.S.) Venice natgas pipe project

Canadian energy company Enbridge’s Texas Eastern Transmission subsidiary received approval from U.S. energy regulators to commence service of a natural gas pipeline associated with its Venice extension project in Louisiana.

Japan's Mitsui OSK starts FSRU operations for Indonesian gas-fired power plant

Japan's Mitsui O.S.K. Lines Ltd. has started commercial operations of its FSRU to supply LNG to a power plant in West Java, Indonesia.

Baker Hughes to supply electric-driven liquefaction technology for Cedar LNG project

Baker Hughes, an energy technology company, announced it was awarded an order from Black & Veatch, a global engineering, construction and consulting leader, to supply Cedar LNG in Canada with electric driven liquefaction technologies.

VTTI to control Italy's biggest LNG terminal, Snam to get 30%

Energy storage group VTTI will get a 70% stake in Italy's biggest LNG terminal, with grid operator Snam owning the rest, the Milan-listed group said late on Wednesday, announcing a deal to be finalized by year-end.

Russia's Novatek may scale back Arctic LNG 2, focus on Murmansk

Russia's Novatek is being forced to scale back its huge Arctic LNG 2 project after Western sanctions curbed its access to ice-class tankers and will focus instead on developing its project at the ice-free port of Murmansk.

Henkel closes acquisition of specialized supplier for protective coating and sealing solutions

Henkel has successfully completed the acquisition of the U.S.-based Seal for Life Industries LLC from Arsenal Capital Partners.

NextChem and Vallourec to merge green ammonia tech with hydrogen storage for "Power-To-X" projects

Maire announces that NextChem, through its subsidiary NextChem Tech, and Vallourec, agreed to cooperate on the integration of NextChem’s proprietary green ammonia technology with Vallourec’s Delphy hydrogen storage technology and its subsequent commercialization.

U.S. natural gas demand for LNG falls as Cheniere reduces output

There was a significant decline in the amount of U.S. natural gas being liquefied for export with a drop in demand from Cheniere Energy's Corpus Christi plant in Texas and its Sabine Pass operation in Louisiana.