economics
Phillips 66 completes acquisition of DCP Midstream, LP common units
Phillips 66 and DCP Midstream, LP completed the previously announced acquisition by Phillips 66 of all the publicly held common units representing limited partner interests in DCP Midstream for $41.75 per common unit in cash at a total value of approximately $3.8 B, increasing its economic interest in DCP Midstream to 86.8%.
Spain's energy firms look to central Europe markets for green hydrogen deals
Spanish oil company Cepsa signed on Wednesday two agreements aimed at shipping green hydrogen between Spain and the Netherlands, a day after renewable energy giant Iberdrola took a similar step.
Pakistan approves LNG purchase deal with Azerbaijan
Pakistan approved a LNG purchase agreement framework with Azerbaijan, its finance ministry said.
TotalEnergies buys $219-MM stake in LNG developer NextDecade
TotalEnergies will buy a 17.5% stake in U.S. liquefied natural gas developer NextDecade for $219 MM, the French group said, part of a broader deal to enable the Texas company's Rio Grande LNG export project to proceed.
Hydrogen hype meets hard realities for Tasmania's global ambitions
Hydrogen has been hyped as offering perhaps the greatest hope of a renewable energy to replace fossil fuels, and Australia's island state of Tasmania is lauded as one of the best places to develop the new industry.
Ren Portgás powers up for decarbonization with Synergi Gas Automated Model Builder
REN Portgás upgraded to Synergi Gas Automated Model Builder to prepare for the new energy mix as Portugal transitions to a more sustainable future.
CPGC and BASF accelerate onboard CO2 capture system development
CSSC Power Co., Ltd. and BASF have formed a solid cooperation to expedite the progress of onboard carbon capture system for commercial maritime applications.
Mitsui O.S.K. Lines enters strategic investment agreement with Delfin
Mitsui O.S.K. Lines announced that it has entered into a strategic investment agreement with Delfin Midstream Inc enabling Delfin to accelerate clean low-cost LNG exports from North America to customers around the world.
A sustainable solution to reduce Europe’s reliance on natural gas
This analysis shows that Europe will need to reduce natural gas demand by 55 Bm3 this year alone to mitigate against a potentially colder winter, a possible end to Russian supplies or rebounding Asian demand. This comes at a time when Europe has little bandwidth for additional energy rationing without sustaining a steeper slowdown in economic activity.
Iraq to pay $2.76 B in gas and electricity debt to Iran
Iraq has agreed to pay about $2.76 B in gas and electricity debt to Iran after receiving a sanctions waiver from the United States, a senior Iraqi foreign ministry official said.
Macquarie launches sale of Czech firm GasNet
GasNet, the Czech Republic's largest gas distributor, has been put up for sale by Macquarie Asset Management, newspaper Hospodarske Noviny reported, citing four unnamed sources.
Asahi Kasei and Mitsui to establish supply and procurement systems for bio-methanol
Asahi Kasei Corporation and Mitsui & Co., Ltd. will establish a supply and procurement scheme for bio-methanol produced in the United States.
Japan to invest $107 B in hydrogen supply over 15 years
Japan plans to invest $107.5 B over the next 15 years to supply the country with hydrogen, the government said, as it accelerates efforts to use the gas to shift to a low carbon economy.
LNG developer Venture Global spars with customers over cargoes
Venture Global LNG, which is building three multi-billion dollar U.S. liquefied natural gas processing plants, is sparring with two customers of its first project over mechanical failures that have prevented commercial deliveries a year after initial shipments began.
U.S. burns more natural gas as wind power drops, Canadian wildfires cloud solar
U.S. power generators were forced to burn more natural gas to produce electricity this week than usual as the amount of wind power dropped and smoke from Canadian wildfires blocked output from solar panels, according to U.S. and regional power data.
Asian spot LNG prices flat on limited demand, ample spot supplies
Asian spot liquefied natural gas remained flat this week at a two-year low, as ample spot supplies and limited buying activity kept prices steady in a range.
Enbridge sees Canada Woodfibre LNG export plant in service in 2027
Enbridge Inc's Woodfibre LNG partnership in British Columbia was on track to enter service in 2027, says Cynthia Hansen, president of gas transmission and midstream at the Canadian energy company.
Tokyo Gas to spend $1.4 B on renewable power at home and abroad
Japan's Tokyo Gas is shifting its overseas focus to renewable energy and away from regional upstream gas projects as it seeks to combat climate change, its president said, although it will invest in LNG.
Germany welcomes construction of hydrogen-ready pipeline with Italy
German Chancellor Olaf Scholz said he is pleased that Italy and Germany have agreed to push ahead with work on the construction of a new pipeline to transport gas and hydrogen between the countries.
Europe's gas prices stabilize as storage additions slow
Europe’s gas storage is refilling much more slowly than usual as the drop in prices encourages more consumption by industrial users and power generators while diverting LNG cargoes to Asia.
U.S. natural gas futures slip after bigger-than-expected storage build
U.S. natural gas futures eased into a narrow range after a government report showed a bigger-than-usual storage build last week, overshadowing support from forecasts for warmer weather.
S&P Global seeks feedback on new LNG forward month price assessment
Platts, part of S&P Global Commodity Insights released a consultation note for a new liquefied natural gas (LNG) price assessment for cargoes delivered a month after the front-month JKM benchmark.
Despite China heatwave, weak factory demand curbs LNG imports
An ongoing heatwave in China is boosting power demand for cooling, but tepid industrial demand and record high coal inventories are keeping prices at two-year lows and limiting spot LNG imports.
Increased U.S. renewable and natural gas generation likely to reduce summer coal demand
The EPA forecasts the largest increases in U.S. electricity generation this summer (June, July, and August) will come from solar, wind, and natural gas-fired power plants because of new generating capacity coming online, according to their June Short-Term Energy Outlook.
Trinidad to restart idled LNG unit by early 2027 amid restructuring
Trinidad and Tobago aims to restart an idled liquefied natural gas unit by the first quarter of 2027 after agreeing to restructure the facility's ownership and negotiate new gas supplies, according to three people with knowledge of the plans.
U.S. natural gas climbs as hot weather outlook boosts power demand prospects
U.S. natural gas futures climbed more than 2% to a one-week high, as forecasts for warmer weather bolstered the demand outlook for the fuel to cool homes and businesses.
U.S. natgas down 2% on lower flows to LNG export plants, mild weather
U.S. natural gas futures fell about 2% on lower gas flows to liquefied natural gas plants due to maintenance, forecasts for milder weather and less demand over the next two weeks than previously expected and a drop in global gas prices.
Russia's Sakhalin invites India and China to tap energy resources
The local governor of Russia's Pacific island of Sakhalin has invited companies from India and China to tap the region's energy resources following the departure of European and American oil and gas majors.
Technip Energies selected by RWE for first phase of Stallingborough Carbon Capture CCGT Project in the UK
Technip Energies and its partner GE Gas Power have been selected by RWE Generation UK plc to perform a pre-FEED study for a new, decarbonized natural gas-fired Combined Cycle Gas Turbine plant with a fully integrated carbon capture facility.
IMI Critical Engineering completes first pilot test for green hydrogen generation
IMI Critical Engineering has successfully completed its first field test for the generation of green hydrogen using its new IMI VIVO polymer electrolyte membrane electrolyzer.
