economics
Ukraine's Naftogaz to pitch gas storage deals for German traders in March
Ukraine's biggest oil and gas firm Naftogaz aims to strike new deals with foreign traders to boost the amount of natural gas stored in underground facilities in Ukraine.
INEOS polymer used to create world’s first sustainable gas pipeline
INEOS produced bio-based high-density polyethylene has been used to create the world’s first fully sustainable gas pipeline. Installed by French gas utility network operator, GRDF, the pipeline only uses the low carbon footprint polymer.
Bangladesh's Summit to supply 1.5 MMt LNG to Petrobangla from Oct 2026
Bangladesh's Summit Group has signed a preliminary pact to supply 1.5 MMt of LNG per year to state-run Petrobangla for 15 years, starting from October 2026, its chairman.
Gas, LNG prices to remain relatively weak in 2024 amid subdued demand
Global prices of gas and LNG are expected to remain relatively weak in 2024, with demand subdued due to high storage levels in Europe and Asia and a mild Northern Hemisphere winter.
Norway energy firms plan three-year push for Arctic gas
Norwegian oil companies will ramp up exploration for natural gas in the Barents Sea in the next three years, showing renewed interest in the remote Arctic region after a sharp fall in Russia's gas supplies to Europe.
Sinopec says more deep tight-gas reserve certified in Sichuan basin
China's Sinopec Corp said on Wednesday that the Chinese government had recently certified 133 Bcm of proven geological reserves of natural gas in its operation in southwest Sichuan basin.
Shell approves plan to develop North Sea gas field
Shell has given the financial go-ahead for the development of the Victory gas field in the British North Sea, the latest development aimed at boosting the energy giant's production in the ageing basin.
Glander International Bunkering and Rohe Solutions Oy complete Kokkola port’s first LNG supply
Global bunker trading firm, Glander International Bunkering collaborated with LNG supplier Rohe Solutions Oy to supply LNG by truck to oil/chemical tanker SAANA.
Exxon to buy another 1.2 MMtpy of LNG from Mexico Pacific
Mexico Pacific said that it will supply ExxonMobil with an additional 1.2 MMtpy of LNG.
Red Sea disruptions not (yet) enough to trouble LNG prices
The effective closure of the Red Sea to tankers carrying LNG, while a concern, is unlikely to shift prices for the super-chilled fuel because other factors are driving the market.
Norway boosts oil, gas drilling, including in Arctic
Norway awarded stakes in 62 offshore oil and gas exploration licenses to 24 energy companies, including state-controlled Equinor , boosting the amount of acreage offered as the country seeks to pump for decades to come.
U.S. natural gas prices drop 7% on warmer forecasts for late January
U.S. natural gas futures dropped about 7% on Monday on forecasts for demand to fall and output to rise once the weather turns warmer than normal in late January.
Russia's Arctic LNG 2 to ship first tanker this month
Russia's Arctic LNG 2 project is set to load its first LNG tanker for Asia at the end of January despite disruptive U.S. sanctions.
Tankers carrying Qatari LNG resume course amid Red Sea tension
Four tankers used for shipments of Qatari LNG have resumed course after pausing for several days amid maritime attacks by Yemen's Iran-aligned Houthis in the Red Sea.
Russia's pipeline gas exports to Europe down versus December
Russian gas supply to Europe this month has declined, with January 1-15 daily volumes down by 6.5% from December's average levels.
U.S. natural gas supplies drop, record demand forecast due to extreme cold
U.S. natural gas supplies have fallen by the most in over a year as extreme cold froze wells, while demand for heating was on track to hit a record and lift both power and gas prices to multi-year highs.
Japan spot LNG contract price for December not disclosed
The average contract price for spot LNG cargoes for shipment to Japan last month was not disclosed by state-owned Japan Oil, Gas and Metals National Corporation.
QatarEnergy halts Red Sea LNG shipping amid attacks, seeking security advice
QatarEnergy, the world's second largest exporter of liquefied natural gas, has stopped sending tankers via the Red Sea although production continues.
Frigid temps cut U.S. natural gas supply as demand soars, Texas faces possible shortfall
U.S. natural gas output fell to a preliminary 11-month low as frigid weather froze wells across the country, while gas demand for heating and power generation was on track to hit record highs.
Russia boosts fuel exports to Central Asia, Afghanistan and Mongolia in 2023
Central Asian countries, Afghanistan and Mongolia raised their imports of Russian fuel by around 28% in 2023 to almost 6 MMt, partially offseting a decline in Russian supplies to Europe.
TotalEnergies says it has no plans to sell shares in NextDecade
TotalEnergies has no plans to sell its shares in U.S. LNG company NextDecade, the French energy group said after market speculation over a potential sale.
Indonesia's 2024 oil, gas lifting set to fall short of government targets, regulator says
Indonesia's oil and gas lifting this year is likely to fall below government targets, upstream oil and gas regulator SKK Migas said but pledged efforts to fill the gap.
Venture Global LNG explains to U.S. regulator its failure to sell commercial cargoes
Venture Global LNG has told a U.S. regulator that it cannot meet contracts to provide LNG cargoes to several major customers because its export plant is not yet ready to meet three criteria in the contracts, according to a letter to the Federal Energy Regulatory Commission.
Commonwealth LNG urges Biden to support pending LNG export application
U.S. LNG developer Commonwealth LNG on Thursday called on President Joe Biden to support its long-pending LNG export application.
Asia spot LNG prices fall to 7-mth low as stocks remain plentiful
Asian spot LNG prices slid for an eighth consecutive week to hit their lowest levels in seven months, as healthy storage levels in both Europe and northeast Asia continued to weigh on prices.
Russia's Sibur raised LPG exports via Baltic Sea ahead of sanctions
Russia's biggest petrochemicals producer Sibur increased exports of LPG by almost a quarter last year via the Baltic Sea port of Ust-Luga in expectation of Western sanctions.
U.S. natural gas prices jump 6% on big storage withdrawal, record demand forecasts
U.S. natural gas futures jumped about 6%, on track to close at a two-month high, on a bigger-than-expected storage withdrawal last week and forecasts extreme cold in coming days will boost gas demand to record highs.
Tokyo Gas expects to close sale of Australian LNG assets at end of February 2024
Japan's biggest city gas provider, Tokyo Gas, said it expects to close the planned sale of its stakes in a portfolio of four Australian LNG projects at the end of February.
EIA expects Henry Hub natural gas spot price to average under $3.00/MMBtu in 2024 and 2025
EIA expect the U.S. benchmark natural gas spot price at the Henry Hub to average under $3.00 per MMBtu in 2024 and 2025 in our January Short-Term Energy Outlook.
Chesapeake aims for top U.S. natural gas producer spot with $7.4-B deal for Southwestern
Chesapeake Energy said it would buy smaller rival Southwestern Energy in an all-stock transaction valued at $7.4 B, a deal that would enable the second-largest U.S. natural gas producer to take the top spot.
- 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
- ExxonMobil selects Chart Industries’ IPSMR® liquefaction technology for Mozambique LNG project
