economics
U.S. natural gas prices up 2% to 3-week high on output decline, hot forecasts
U.S. natural gas futures climbed about 2% to a three-week high on Friday on a drop in daily output and forecasts for continued hot weather.
LNG prices may spike in winter as risks remain, Tokyo Gas exec says
Prices of LNG could spike this winter even with high storage levels in Europe, a Tokyo Gas executive said, as many political and market uncertainties remain.
Canada's Altagas to buy natural gas assets from Tidewater for $650 MM
Canada's Altagas has agreed to buy some natural gas assets from Tidewater Midstream and Infrastructure for $650 MM.
Asian spot LNG prices flat amid more certainty over Australia strike action
Asian spot LNG prices held steady this week as more certainty over potential strike action at LNG facilities in Australia kept buyers on the sidelines from seeking replacement cargoes.
Germany's gas imports fall 17.9% in year 2023 to August
Gas imports into Germany dropped 17.9% year-on-year in January-August 2023, utility industry association BDEW said, pointing to savings resulting from calls to conserve energy after last year's supply crisis.
Three countries began importing LNG this year, and more will follow
Global LNG import capacity is set to expand by 16%, or 23 Bcf/d, by the end of 2024 compared with 2022.
U.S. LNG projects win higher processing fees as interest rates climb
Long-term buyers of U.S. LNG are willingly agreeing to higher liquefaction fees at newer export projects.
Tanzania names new energy minister to oversee LNG development
Tanzania President Samia Suluhu Hassan named a new energy minister as part of a cabinet reshuffle, ahead of expected cabinet approval for a $42-B LNG project.
LNG imports from Russia rise, despite cuts in pipeline gas
European Union countries have increased their imports of liquefied LNG from Russia compared with before the Ukraine war, despite the EU's aim to quit Russian fossil fuels within a few years, an analysis by campaigners showed.
Prospect of strong El Niño weighs on U.S. gas prices
Rapidly forming El Niño conditions over the central and eastern Pacific Ocean have increased the probability of a strong episode this winter that would likely raise temperatures and cut gas consumption in the United States.
Sempra Infrastructure to develop carbon-neutral gas production and LNG supply chain
Sempra Infrastructure, a subsidiary of Sempra, announced an agreement with a consortium comprised of Tokyo Gas Company, Ltd., Osaka Gas Company, Ltd., Toho Gas Company., Ltd. and Mitsubishi Corporation to participate in the evaluation of a proposed project to produce e-natural gas, a form of carbon recycling, in the U.S. Gulf Coast.
Norway's Equinor acquires a stake in U.S. Bayou Bend CCS project
Norwegian oil and gas company Equinor said it has acquired a 25% stake in Bayou Bend CCS LLC, a U.S. project to capture and store CO2 emissions along the Gulf Coast in southeast Texas.
Chevron's Australia LNG ops could face daily 10-hr stoppages as union fight escalates
Chevron's two major LNG production facilities in Australia could face daily work stoppages of up to 10 hours next week after unions on Tuesday threatened labor action in a dispute over pay and conditions.
Japan's Eneos, Osaka Gas study building large e-methane facility in Osaka
Japan's top refiner Eneos and city gas supplier Osaka Gas said they have begun a joint study of construction of an e-methane facility with capacity to produce 60 million cubic meters of the fuel per year.
India cuts prices of cooking gas as inflation bites
India cut the price of cooking gas for households on Tuesday by about 18% to rein in inflation ahead of crucial state and general elections.
U.S. natural gas prices slide 2% ahead of demand destroying Florida hurricane
U.S. natural gas futures slid about 2% with a major, demand-destroying hurricane expected to hit Florida on Wednesday and forecasts for less hot weather and lower gas use next week than previously expected.
Chevron LNG workers in Australia allow union to call for strike
Supplies from Chevron's LNG facilities in major exporter Australia could be disrupted after the last batch of its workers voted to authorize their unions to take industrial action if necessary.
Ukraine builds up 14 bcm of gas in storage ahead of winter
Ukraine has built up around 14 bcm of gas in its storage facilities and does not plan to import gas in the 2023/24 heating season.
bp urges more gas and oil investment while speeding energy transition
Global oil major bp said the world must invest in the production of gas and oil to avoid sharp price spikes while accelerating the energy transition to combat greenhouse gas emissions.
Asia LNG loses some strike froth, but fundamentals are supportive
Spot prices of LNG retreated in Asia as the threat of imminent strike action at three Australian plants eased, but solid fundamentals are keeping prices elevated for future deliveries.
Asian spot LNG prices fall as Woodside averts strike
Asian spot LNG prices eased from five-month highs, after workers at Australia's Woodside Energy ruled out the possibility of striking work, bringing some calm to a market hit by extreme volatility in recent days.
Woodside, unions reach deal at Australian LNG facility, workers meet to ratify
Woodside Energy reached an in-principle agreement with unions at Australia's LNG project, potentially averting a disruption to supplies from one of the world's biggest exporters of the super-chilled fuel.
U.S. power system gets gasier, but not much cleaner, in 2023
U.S. power producers increased output of electricity from natural gas by more than from clean power sources in the opening eight months of 2023, as electricity firms grappled with low wind speeds and heavy demand from power-hungry air conditioners.
Gazprom's first LNG cargo via Arctic destined for China's Jingtang
An LNG cargo from Russia's Gazprom being sent via the Northern Sea Route for the first time is destined for the Chinese port of Jingtang.
Czech government agrees to buy main gas storage firm from RWE
The Czech government has agreed to buy the main Czech gas storage company RWE Gas Storage CZ from Germany's RWE to bolster energy security after Russia's invasion of Ukraine.
Japan utilities LNG stockpiles slump as hot summer lifts air-conditioner demand
LNG stockpiles held by Japanese electric utilities hit more than one-year lows, as the hot summer drives usage of air-conditioners and typhoons delay cargoes, data released by Japan's industry ministry showed.
Australia strikes may impact short-term LNG prices
Global gas prices could rise in the short term if strikes at Australia's LNG plants take place, but markets are well balanced now with inventory levels keeping high in North Asia and Europe.
Energy Transfer seeks new LNG export license after extension denied
Pipeline operator Energy Transfer requested a new and expedited export license for its proposed Lake Charles, Louisiana, LNG plant, according to a filing with the U.S. Department of Energy.
Asian buyers may seek U.S. LNG if Australia worker disputes worsen
Major Asian buyers of LNG could seek U.S. cargoes in the coming weeks if worker-related disputes at key LNG facilities in Australia escalate.
Cheniere Energy strikes LNG supply deal with BASF
Cheniere Energy said it would supply 800,000 tpy of LNG to Germany's BASF.
- Japan's Mitsubishi to acquire stake in Petronas LNG plant
- McDermott awarded Rovuma LNG Phase 1 FEED contract in Mozambique
- Fincantieri LNG-powered Star Princess launched in Monfalcone
- Wood leads industry project to accelerate CCUS with guidelines for CO2 specifications
- 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
