economics
U.S. ethane production, consumption, and exports set new records again in 2023
U.S. ethane production, consumption, and exports established new record highs in 2023, according to data from EIA's Petroleum Supply Monthly.
New retractable submerged pumps from Vanzetti Engineering
Vanzetti Engineering presents the new ESK-IMO series of retractable submerged pumps, which are used in Small-Scale LNG Terminals and as Emergency pumps or Cargo/Stripping pumps in the marine sector.
Russia's Arctic LNG 2 suspends gas liquefaction amid sanctions, lack of tankers
Novatek, Russia's largest producer of LNG, has suspended production at its Arctic LNG 2 project due to sanctions and a shortage of gas tankers.
U.S. petroleum product exports set another record high in 2023
Petroleum product exports from the U.S. averaged a record 6.1 MM bpdy in 2023, an 2.5% increase from 2022, according to EIA's Petroleum Supply Monthly.
Aramco awards $7.7-B contracts to add 1.5 Bscfd of raw gas to Fadhili Gas Plant
Aramco awarded engineering, procurement and construction contracts worth $7.7 B for a major expansion of its Fadhili Gas Plant in the Eastern Province of Saudi Arabia.
Japan's Mitsubishi invests in EIG's LNG company MidOcean Energy
Japanese trading house Mitsubishi has agreed to invest in MidOcean Energy, an LNG company owned by U.S. investment firm EIG, MidOcean said without giving details of the deal.
U.S. March LNG exports flat as Freeport plant woes continue
U.S. exports of LNG fell slightly in March to 7.61 MMt from 7.73 MMt in February as production of the superchilled gas from the country's second largest exporter remained constrained, preliminary data from financial firm LSEG showed.
Summit Midstream launches open season on natural gas pipeline
Pipeline operator Summit Midstream Partners launched a non-binding open season to gauge interest for services of a natural gas pipeline running from the Delaware Basin in New Mexico and Texas to the Waha hub in West Texas.
QatarEnergy to charter 19 new LNG vessels expanding fleet further
QatarEnergy CEO Saad Al Kaabi announced that the company has finalized a number of charter contracts with several Asian ship owners to bolster its shipping fleet by 19 LNG vessels ahead of a massive expansion in LNG output.
Argentina builds case for exporting natural gas to Brazil through Bolivia
Energy companies from Argentina and Brazil have begun talks on reversing the southerly flow of a Bolivian natural gas pipeline network that connects the three countries as a regional gas deficit could force Brazil to pay up for alternative supplies of the fuel.
Moldova to buy U.S.-origin LNG from Greece for consumers
Moldova's domestic gas supplier Energocom said it will supply its consumers with test volumes of U.S.-origin LNG for the first time.
Credit Agricole says it will not fund two major LNG projects
Credit Agricole said that it would not provide financing to two major LNG projects, citing commitments to refrain from new fossil fuel developments.
Japan's Mitsui decides to develop Vietnam gas field for $740 MM
Japanese trading house Mitsui & Co said it has reached a final investment decision to develop Vietnam's Block B gas field, with its share of development cost of about $740 MM.
Japan's JERA suspends output at 4 gas-fired power plants to secure LNG stocks
Japan's biggest power generator JERA said it has suspended production at four of its gas-fired power stations and curtailed output at another plant from to secure sufficient LNG inventory.
Challenges in LNG delivery amidst Russia's energy market stability
Deputy Prime Minister Alexander Novak addresses challenges in LNG delivery, particularly concerning the Arctic LNG 2 project, amidst Russia's stable energy market despite drone attacks and sanctions.
Greece's DEPA files for arbitration over prices in Gazprom deal
Greek gas supplier DEPA Commercial has filed for arbitration to seek a price revision on its gas supply contract with Gazprom.
Western Australia’s domestic gas market in flux as traditional supply sources mature
With gas demand slowly outstripping supply, Western Australia’s once well-supplied domestic gas market is now tight, and further volatility is expected until new volumes come online later in the decade, according to a new report from Wood Mackenzie.
Asia spot LNG maintains six-week high amid emerging demand
Asian spot LNG prices were little moved this week, holding on to a six-week high amid emerging spot demand in both southeast Asia and Europe.
Japan's February LNG imports fall 5.9% on storage withdrawals
Japan's imports of LNG dropped 5.9% in February from a year earlier, data released by the Ministry of Finance showed, as power producers drew LNG from storage and boosted use of renewable energy.
UK's greenhouse gas emissions fell 5.4% in 2023 on lower gas use
Britain's greenhouse gas emissions fell by 5.4% in 2023, government data showed, with less gas used to generate electricity and heat homes.
Osaka Gas sees little impact from Freeport LNG's partial shutdown
Japan's Osaka Gas expects to see little impact on its balance of supply and demand for LNG from a partial shutdown of U.S. Freeport LNG's facilities.
IKAV, VTTI buy majority stake in Italy's biggest LNG terminal
Dutch infrastructure group VTTI and German asset manager IKAV have teamed up to buy a majority stake in Italy's biggest LNG terminal.
U.S. natural gas production grew by 4% in 2023, similar to 2022
U.S. natural gas production grew by 4% in 2023, or 5.0 Bcf/d, to average 125.0 Bcf/d, according to the U.S. EIA's Natural Gas Monthly.
Europe’s gas stocks point to healthy supply next winter
The European Union will have plenty of gas in stock next winter and the remaining buyers of Russian pipeline gas in central Europe are working on alternative imports in case transit via Ukraine stops from January.
U.S. natgas prices slide 2% on forecasts for milder weather, lower demand
U.S. natural gas futures slid about 2% on forecasts for milder weather and less heating demand next week than previously expected and ample amounts of gas in storage.
ExxonMobil warns Australia faces sharp drop in gas supply, calls for policy stability
Exxon Mobil Corp gave a dire warning about the outlook of Australia's domestic gas supply, joining other gas producers in calling for policy stability and more investment in the sector.
Gazprom's unit buys former Shell stake in Sakhalin Energy for $1 B
Kremlin-controlled energy giant Gazprom has acquired a 27.5% stake, formerly owned by Shell, in Russian LNG producer Sakhalin Energy for around $1 B, according to a government order.
Enbridge to form natural gas supply venture connecting Permian and Gulf Coast (U.S.)
Canadian pipeline operator Enbridge said it would form a venture with I Squared Capital and pipeline firms WhiteWater and MPLX to connect Permian supplies to the U.S. Gulf Coast to tap into strong LNG demand for exports.
Wilhelmshaven Green Energy Hub receives exemption from regulation
The German network regulator BNetzA has exempted the eLNG terminal within the Green Energy Hub Wilhelmshaven from tariff and third-party access regulation for a period of 20 years from the start of operations.
Russia's Gazprom ships first LNG cargo from Portovaya to Spain
Russia's Gazprom shipped a cargo of LNG from its small-scale Portovaya LNG plant on the Baltic Sea to Spain for the first time.
- Japan's Mitsubishi to acquire stake in Petronas LNG plant
- McDermott awarded Rovuma LNG Phase 1 FEED contract in Mozambique
- Wood leads industry project to accelerate CCUS with guidelines for CO2 specifications
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Picarro launches handheld solution for natural gas leak investigation and closed-loop leak management
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Sonatrach, Saudi Aramco raise prices for LPG by 3%–4% in October
- Amarinth secures $1-MM order of API 610 pumps for Coral North FLNG project in Mozambique
