economics
U.S. exports of ethane and ethane-based petrochemicals rose 135% from 2014 to 2023
U.S. exports of ethane and ethane-based petrochemicals reached an all-time high of 21.6 MMt in 2023, up 135% since the U.S. began exporting ethane in 2014 and 17% more than in 2022, according to data from the U.S. Census Bureau.
Oman's OQ to list up to 49% stake in methanol, ammonia and LPG arm
Oman's OQ Base Industries, the methanol, ammonia and LPG arm of state-owned OQ, plans to list an up to 49% stake on the local stock exchange. The listing is part of a privatization program by state-owned energy group OQ to diversify its economy and cut its debt.
China's Sinopec signs agreement for 15-yr LNG deal with TotalEnergies
China's state oil and gas major Sinopec Corp said it has signed Heads of Agreement to buy from TotalEnergies 2 MMtpy of LNG a year for 15 yrs starting 2028.
Cepsa becomes Moeve
Cepsa has announced its name change to Moeve, marking a historic milestone in the company’s transformation.
Equinor strengthens gas portfolio
Equinor has signed an agreement with EQT Corporation to acquire additional non-operated interest in the Northern Marcellus formation in the US. Equinor will pay $1.25 B to EQT in the transaction.
Gazprom subsidiary files $880-MM claim against Linde
A subsidiary of Russia's gas major Gazprom has filed a claim for 85.7 B roubles ($879 MM) against global industrial gases and engineering company Linde and its subsidiaries.
U.S. elections pose bearish risk to global LNG markets
The upcoming U.S. election could pose a bearish risk to global natural gas markets, specifically liquefied natural gas (LNG), despite the anticipated limited near-term impact on domestic markets.
JPMorgan looks to resume trading physical LNG
JPMorgan Chase is in talks to resume trading physical LNG after more than a decade. The bank has had talks with at least three projects under development in the Gulf Coast to get a long-term LNG supply.
U.S. ethane production reached a record 3 MMbpd in May 2024
U.S. ethane production increased steadily over the last decade and reached a record of 3 MMbpd in May 2024. Ethane production in the first half of 2024 (1H24) averaged a record 2.8 MMbpd, according to data from the U.S. EIA.
U.S. natgas prices jump 8% on cooler weather, higher global gas prices
U.S. natural gas futures jumped about 8% to a one-week high on Thursday on forecasts for cooler weather and more heating demand over the next two weeks than previously expected and on rising prices for gas in global markets that should boost the value of U.S. liquefied natural gas (LNG) exports.
Neste to re-evaluate its renewable H2 plan and withdraw from investing into a 120-MW electrolyzer at the Porvoo refinery
Neste has decided to withdraw from investing into a 120-MW electrolyzer project to produce renewable hydrogen (H2) at its Porvoo refinery in Finland.
Repsol freezes green H2 projects in Spain
Repsol has paused its planned green H2 projects in Spain, which would have had a combined electrolysis capacity of 350 MW, due to an unfavorable regulatory environment.
LNG-fueled trucking accelerates in Asia, denting diesel demand
Trucking fleets in China are embracing cleaner-burning LNG for fuel, accelerating a decline in diesel demand and rattling suppliers to the world's biggest oil importer.
Qatar LNG sales to key Asian markets confronted by U.S., UAE rivalry
Qatar is finding it hard to agree new deals to supply liquefied natural gas (LNG) to Japan and South Korea as rising competition from the U.S. and elsewhere with more flexible contract terms challenges Doha's decades-old dominance of the market.
U.S. natgas prices hold near 1-month low as LNG feedgas rise offsets mild weather
U.S. natural gas futures held near a one-month low on Friday as a bullish rise in the amount of gas flowing to liquefied natural gas (LNG) export plants offset bearish forecasts that mild weather will keep heating demand low through early November.
Malaysia sees lower natural gas, crude oil output in 2025
Malaysia expects lower natural gas and crude oil output in 2025 due to the planned shutdowns of some production facilities for maintenance and easing demand in some export markets.
Analysts expect EU carbon prices to soar by 2027
Analysts expect EU carbon permit prices will soar by 2027 as policy measures shrink supply, while their forecasts for 2025 and 2026 were little changed.
Update: UK imposes sanctions on Russian oil and LNG vessels
Britain said on Thursday it had imposed sanctions on 18 more Russian oil tankers and four liquefied natural gas vessels, the largest batch of sanctions to date against Russia's so-called ‘shadow fleet.’
Wood leads industry project to accelerate CCUS with guidelines for CO2 specifications
Wood is leading a Joint Industry Partnership (JIP) to create industry guidelines for CO2 specifications to accelerate sustainable carbon capture, utilization and storage projects.
Venture Global will not begin LNG deliveries to Italy's Edison until 2025
Italian energy group Edison said that U.S. gas exporter Venture Global LNG told it not to expect contract cargoes from its Louisiana export facility until April 2025.
U.S. natgas prices fall 3% to 2-week low on lower demand forecast
U.S. natural gas futures dropped about 3% to two-week lows on Monday on forecasts for milder weather and less demand next week than previously expected.
IEEFA: Canadian LNG will not boost Japan's energy security or Asia's decarbonization
With LNG Canada set to start up next year, liquefied natural gas (LNG) exporters in Canada are racing to build new projects along the country’s western coast. Many are enamored by the prospect of selling the fuel to Asian countries, particularly Japan.
Fewer tankers transit the Red Sea in 2024
The amount of crude oil and oil products flowing through the Bab el-Mandeb, the southern chokepoint at the mouth of the Red Sea, decreased by more than 50% in the first eight months of 2024.
Canadian natural gas firms eager for LNG boom swamp market with excess supply
A huge liquefied natural gas (LNG) export terminal led by Shell, called LNG Canada, may struggle to dramatically raise Canadian natural gas prices when it starts operating next year because a flood of pent-up supply is waiting to hit the market.
TotalEnergies expands global LNG bunkering footprint
TotalEnergies has signed a charter contract with Spanish shipowner Ibaizabal for a new LNG bunker vessel of 18,600 m3 capacity. This new vessel will expand the Company’s global presence in bunkering hubs.
Alfa Laval to supply first systems for ammonia-fueled marine vessels by end of 2025
Alfa Laval announced it will be ready to supply its first fuel systems for ammonia-fueled vessels by the end of 2025.
Japan expands LNG flexibility via cooperation with South Korea, Italy
Japan has agreed on Sunday to study cooperating with South Korea and Italy on procurement of LNG as the world's second-biggest LNG importer after China seeks greater flexibility while strengthening its energy security.
China to remain world's top LNG buyer in 2024-25
China is set to remain the world's top buyer of LNG this year and next because of strong industrial demand. The country overtook Japan as the world's top LNG buyer as Japanese demand is falling amid nuclear reactor restarts, the roll out of renewable energy and overall weak economic development.
Tellurian shareholders back proposed $1.2-B Woodside deal
Tellurian shareholders have voted in favor of the U.S. LNG developer's proposed $1.2-B acquisition by Australian energy producer Woodside Energy Group.
TotalEnergies wins tender for LNG supply to Bulgargaz
Natural gas distribution company Bulgargaz said on Friday that French oil major TotalEnergies ranked first in a tender offer to supply liquefied natural gas (LNG) in November and December to the Alexandroupolis terminal in Greece.
- 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
