economics
Insight: Gazprom's grandeur fades as Europe abandons Russian gas
The European Union aims to end its use of Russian fossil fuels by 2027 and its overall gas consumption has decreased in part due to a shift to renewable energy sources. Last year, Gazprom posted a net loss of $7 B for 2023, its first since 1999, the year Putin came to power. It posted another loss in the first 9 months of 2024, the latest period for which figures are available.
U.S. propane exports have increased every year since 2007
U.S. propane exports averaged a record 1.8 MMbpd in 2024, the most since the U.S. Energy Information Administration (EIA) began collecting this data in 1973. U.S. propane exports increased for each of the last 17 years, with growth driven by higher demand in East Asia, mainly China, and a widening propane price differential between U.S. and global benchmarks.
Egypt to lease German gas liquefaction unit to bolster production
Egypt, which has struggled with declining domestic gas production, plans to lease a German floating gas liquefaction unit, the Egyptian petroleum ministry said.
Cheniere to use electricity to cut emissions from LNG production
Top U.S. LNG producer Cheniere plans on using electricity from the Texas grid at some of its LNG facilities to reduce emissions.
ARC Resources to supply ExxonMobil with LNG
ARC Resources has entered into a long-term liquefied natural gas (LNG) supply agreement with a unit of ExxonMobil.
Woodside investment decision on Louisiana LNG may slip into Q2
Australia's Woodside LNG may push a final investment decision on its Louisiana LNG plant into the second quarter of 2025 as talks to sell half of the project drag on
Europe gas prices rise on lower temperature forecast
Dutch and British wholesale gas prices rose on Monday morning, rebounding from lows late last week, on forecasts of lower temperatures and as Russian forces intensified attacks on Ukraine.
U.S. natural gas prices hit more than 2-yr high on record LNG exports, supply concerns
U.S. natural gas prices hit their highest level in more than two years on Monday, supported by record flows to liquefied natural gas (LNG) export facilities and supply concerns ahead of the summer season.
Vietnam to sign U.S. deals as trade, energy officials meet
Vietnam expects to sign pacts with the U.S. this week after its trade minister meets U.S. trade and energy officials.
North Ammonia, Höegh Evi to explore a clean ammonia supply chain from Norway to Europe
North Ammonia, a developer of renewable fuels of non-biological origin (RFNBO) ammonia facilities in Norway, and Höegh Evi, a global leader in marine energy infrastructure, have signed an agreement to explore a value chain for supplying hydrogen to European industrial users using green ammonia produced in Norway.
India's IOC seeks LNG cargoes for 2025-2029 delivery
State-run Indian Oil Corp (IOC) has issued a tender seeking liquefied natural gas (LNG) cargoes for delivery through to 2029, two industry sources said on Friday.
LNG producer Venture Global raises Plaquemines project cost forecast by $2 B
Venture Global said it expects the project cost for its Plaquemines LNG plant in Louisiana to be around $2 B higher than its previous forecast due to inflation and other factors.
U.S. natgas prices hit fresh 26-month high on Canada tariffs worries, record LNG flows
U.S. natural gas futures edged up to a fresh 26-month high on Wednesday on record flows to liquefied natural gas export (LNG) plants and forecasts for higher demand this week than previously expected.
Key U.S. energy data trends to track as tariffs kick in
Energy product traders, utilities, investors and business executives are among those scrambling to assess the likely impact of new steep tariffs on the United States' largest trade partners, which kicked in on Tuesday.
Canada's Enbridge earmarks $2 B until 2028 for Mainline network upgrade
Canadian midstream company Enbridge said that it plans to invest $2.5 B in its liquids and natural gas systems, with $2 B allocated to its Mainline network through 2028.
Gazprom's gas exports via TurkStream to Europe at record high in February, data shows
Natural gas exports by Russia's energy giant Gazprom via the undersea TurkStream pipeline to Europe have reached a record high of more than 55 million cubic meters (mcm) per day this month, Reuters calculations showed on Friday.
Malaysia's Petronas to supply more gas to Sabah Energy
Malaysian state energy firm Petronas said on it will supply more gas to Sabah Energy to help meet the industrial needs of northern Borneo's Sabah state.
European gas storage will be filled on time, Engie CEO said
European gas storage will be filled on time this year even if it goes a little slower and finishes a bit later than normal, European gas network operator Engie CEO Catherine MacGregor told analysts on Thursday.
Spain's Endesa faces new arbitration over LNG contract dispute
Spanish power utility Endesa is facing a new arbitration related to a price review of a long-term LNG supply contract
MPLX to buy remaining interest in BANGL natural gas pipeline for $715 MM
MPLX said it would buy the remaining 55% interest in the BANGL natural gas pipeline from the affiliates of WhiteWater and Diamondback Energy for $715 MM, as it looks to increase its Permian footprint (U.S.).
Europe Gas: Prices extend gains amid LNG concerns, colder weather
European and British wholesale gas prices extended gains from the previous day, driven by colder weather forecasts and to ensure competitive pricing with Asia for deliveries of liquefied natural gas (LNG).
VDMA valves association market analysis: Industry standstill looms after a strong 2024
The industrial valves industry performed better than expected in 2024 despite adverse conditions. Overall, nominal sales growth of 6% was achieved. While European business declined by 1%, international sales climbed by 11%.
Woodside sees $1.2-B U.S. LNG play paying off as Trump policies drive deals
Woodside Energy, Australia's top gas producer, is well positioned to capitalize on demand for U.S. liquefied natural gas (LNG) driven by President Donald Trump’s trade policy and pro-fossil fuel agenda.
U.S. natural gas prices fall more than 5% on milder weather forecasts
U.S. natural gas futures fell more than 5% on Monday, dragged down by forecasts of milder weather and lower heating demand next week than previously anticipated.
Asia LNG imports set to drop to 22-month low as Europe surge drives prices
Asia's imports of liquefied natural gas (LNG) are poised to drop to the lowest in nearly two years in February, while Europe's are set to surge to the second-highest on record.
Repsol cuts green hydrogen target by as much as 63%
Spanish energy company Repsol cut its 2030 target for green hydrogen production by up to 63%, Chief Executive Josu Jon Imaz said, highlighting the challenges of a high-cost industry heavily reliant on subsidies.
Centrica signs 0.8-MMtpy LNG supply agreement with Brazil's Petrobras
Centrica announced that it has entered into a major Sale and Purchase Agreement with Petrobras. The contract provides for the purchase by Petrobras of 0.8 MMtpy of LNG for 15 years, commencing in 2027.
LNG exporter Cheniere forecasts 2025 profit below estimates
U.S. liquefied natural gas exporter Cheniere Energy forecast its 2025 core profit largely below Wall Street expectations on Thursday, after reporting a sharp fall in annual earnings and lower LNG revenue due to weaker prices.
Kinder Morgan closes $600-MM acquisition of Outrigger Energy II's natural gas gathering and processing system
The acquisition includes a 270 million cubic feet per day (MMcf/d) processing facility and a 104-mile, large-diameter, high-pressure rich gas gathering header pipeline with 350 MMcf/d of capacity connecting supplies from the Williston Basin area to high-demand markets
EU seeks to 'immediately engage' with LNG suppliers, draft shows
The European Union will consider investing in LNG projects abroad as part of plans to "immediately engage" with reliable suppliers to try to lower energy prices
- Biogas in France: TotalEnergies starts its 2nd largest unit in Normandy
- ONEOK announces joint ventures with MPLX to build LPG export terminal at U.S. Gulf Coast location
- Ukraine plans to import 800 MMm3 of gas until April after Russian strikes
- Parker Hannifin joins iHAPC project to test H2 and argon for cleaner and more energy-efficient engine technologies
- India's BPCL signs LPG supply deal with Norway's Equinor
