economics
Cedar LNG announces positive FID on 3.3-MMtpy FLNG project
Cedar LNG announced a positive final investment decision on the 3.3-MMtpy FLNG facility in the traditional territory of the Haisla Nation on Canada’s West Coast.
Rising U.S. labor costs threaten to derail new LNG projects
A shortage of skilled labor and nagging inflation from strong wage growth on the U.S. Gulf Coast are pressuring liquefied natural gas (LNG) developers and delaying some projects from reaching a financial go-ahead.
IEEFA: LNG is not displacing coal in China’s transition to renewable power
Evidence from China, the world’s largest coal consumer, shows that LNG is unlikely to materially displace coal-fired power generation, according to the Institute for Energy Economics and Financial Analysis (IEEFA).
U.S. natgas prices slide 2% on rising output, lower demand forecasts
U.S. natural gas futures slid about 2% on Tuesday on a slow increase in output and forecasts for less demand over the next two weeks than previously expected, even as a brutal heat wave blankets much of the country.
New England (U.S.) utility closes import-dependent gas-fired power plant, keeps LNG import option
Although Constellation Energy will close the Mystic gas-fired power plant north of Boston (U.S.), it will continue to operate the Everett LNG terminal
QatarEnergy, Exxon seek to remove contractor from Texas gas project
Golden Pass LNG, a JV between QatarEnergy and ExxonMobil, is asking a court to immediately oust Zachry Industrial from the $10-B LNG project, a court filing showed.
Birchcliff and AltaGas enhance long-term partnership
Birchcliff and AltaGas enhance long-term partnership announced an expanded partnership focused on reducing long-term operating costs and connecting more liquified petroleum gas into premium global markets.
U.S. natgas prices slide 2% on rising output despite summer heat
U.S. natural gas futures slid about 2% on Thursday as producers slowly increase output as power generators burn more gas to meet rising air conditioning use.
Clean Energy expands Boron LNG facility in California (U.S.) by 50%
Clean Energy Fuels Corp. announced that construction of a third production train at its LNG plant in Boron, California, has been completed, increasing the plant’s volume capacity by 50%.
Vast and Mabanaft advance Port Augusta green methanol project in Australia
Vast Renewables Ltd., a renewable energy company planning to power green fuels production with its concentrated solar thermal power (CSP) energy systems, announced it has signed a Joint Development Agreement (JDA) with global energy company Mabanaft to advance Solar Methanol 1 (SM1), a CSP-powered green methanol reference plant.
Freeport LNG sues three contractors over defects at Texas plant
U.S. LNG exporter Freeport LNG filed a lawsuit in April against three contractors, alleging that installation defects in electric motors at its $14-B Texas export plant caused prolonged outages and costly repairs.
Golden Pass LNG construction turmoil to delay Texas plant's startup
The startup of Golden Pass LNG, the QatarEnergy and ExxonMobil $11-B JV LNG project in Texas, has been delayed by at least six months due to construction turmoil, according to analysts.
Scorching heat drives India's gas-fired power use to multi-year highs in May
Sweltering heat and policy measures are fueling a surge in the use of gas-fired power in India, with imports of LNG forecast to rise sharply over the next two years.
Norway eyes faster ramp-up of gas export to Britain
The resumption on Friday of Norwegian gas exports to Britain via the Langeled pipeline will progress at a faster pace than initially planned, Norwegian system operator Gassco said.
U.S. natural gas prices fell after a volatile 2022
As average prices of U.S. natural gas fell in 2023, natural gas prices also became less volatile compared with 2022.
Japan, EU agree to work on creating hydrogen demand and supply
Japan and the European Union agreed to work together on policies related to creating demand and supply for clean hydrogen as well as to cooperate in advancing technologies to develop the new fuel
Goldman Sachs: Global LNG market to grow by 50% by 2029
Growth in oil investment shows signs of peaking in non-OPEC countries, while investment in liquified natural gas (LNG) is expected to increase more than 50% by 2029, according to Goldman Sachs Research.
Extreme Asian heat spurs LNG demand ahead of summer months
Extreme temperatures across Asia are driving up liquefied natural gas (LNG) demand in the region as importers seek cargoes ahead of summer, with imports in South Asia hitting records.
Malaysia's Petronas Q1 profit falls on high costs, lower LNG prices
Malaysia's state energy firm Petronas, or Petroliam Nasional Berhad, reported a near 11% decline in first-quarter net profit on Friday due to higher operating costs and lower realized prices across its businesses.
Southeast Asia's $220-B gas expansion plans to boost power/LNG capacity
Southeast Asia has more than $220 B in projects that could raise Southeast Asia's gas-fired power capacity by more than 100 GW, doubling the current level, and raise LNG imports into the region by 80%.
ConocoPhillips to acquire Marathon Oil Corporation for $22.5 B
ConocoPhillips and Marathon Oil Corporation announced today that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5 B.
Argentina government unblocks key Petrobras gas shipment amid supply cuts
Argentina's government, facing domestic gas shortages and targeted service cuts, has unblocked the unloading of a key Petrobras gas shipment, which it added should stabilize local supply.
U.S. natgas prices slide 3% on rising output, high stockpiles
U.S. natural gas futures slid about 3% on Wednesday on signs some drillers were starting to pull more gas out of the ground and worries about the tremendous oversupply of gas still in storage.
Hess shareholders sign off on $53 B sale to Chevron
Hess shareholders approved the proposed $53 B merger with Chevron that paves the way for the No. 2 U.S. oil company to gain a prize asset and a foothold in rival ExxonMobil's massive Guyana discoveries.
Aethon Energy to buy Tellurian upstream assets for $260 MM
Aethon Energy will acquire Tellurian's upstream assets for $260 MM and purchase 2 MMtpy of LNG from its Driftwood LNG plant, the companies said on Wednesday.
UK's National Grid seeks buyer for Europe's biggest LNG terminal
British energy infrastructure operator National Grid said it is looking to sell its Grain liquefied natural gas (LNG) terminal in Britain, Europe's largest such facility, in a bid to streamline operations.
Asian spot LNG prices at five-month high on firm demand, geopolitical risks
Asian spot liquefied natural gas (LNG) prices surged to a five-month high, marking the fourth consecutive week of gains.
Energy Workforce responds to U.S. Energy Secretary's testimony on LNG export permit pause
Energy Workforce responds to U.S. Energy Secretary's testimony on LNG export permit pause
Australian natural gas industry seeks policy repairs to boost investment
Australia's natural gas industry executives are seeking more measures to restore an investment environment they say has been damaged by a series of state interventions to boost domestic supply and curb soaring energy prices.
Shell sees emerging Asian markets taking more of world's growing LNG supply
Shell expects its Australian supplies of LNG to help meet demand from emerging markets in south and southeast Asia, which are tipped to absorb some of the pick up in global supplies towards the end of this decade.
- 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
