economics
TotalEnergies signs an agreement to acquire the remaining 50% of SapuraOMV
TotalEnergies has signed an agreement with Sapura Upstream Assets Sdn Bhd to acquire its 50% interest in Malaysian independent gas producer and SapuraOMV for a consideration of $530 MM, subject to closing adjustments.
Oman LNG forges strategic partnership with BOTAS for LNG supply to Turkey
Oman LNG solidifies its global energy presence by entering into a strategic partnership with BOTAS, aimed at supplying LNG to Turkey and fostering international collaboration in the energy sector.
PetroChina lifts first spot LNG cargo from PNG national oil firm
PetroChina International has lifted a spot cargo of LNG from the PNG LNG project sold by Papua New Guinea's national oil company.
U.S. natgas prices up 2% to one-week high on colder forecasts, drop in output
U.S. natural gas futures climbed about 2% to a one-week high on forecasts for cooler weather and more demand next week than previously expected a continued drop in output and rising gas flows to LNG export plants, including Freeport LNG.
Asia spot LNG at fresh three-month high on supply concerns
Asian spot LNG prices rose this week to a new three-month high due to supply concerns amid tensions in the Middle East and a drop in feedgas deliveries to two LNG terminals in the U.S.
U.S. natgas flows rise to Texas Freeport and other LNG export plants
The amount of natural gas flowing to the seven U.S. LNG export plants, including Freeport LNG, was on track to jump by around 17% from a 15-month low.
U.S. natgas prices up 3% ahead of storage report as LNG feedgas rises
U.S. natural gas futures climbed about 3% on forecasts for cooler weather and more demand next week than previously expected and with an increase in the amount of gas flowing to LNG export plants, including Freeport LNG.
Mexico's Pemex to hand over natural gas project to business magnate
Mexican state oil firm Pemex has agreed to hand over control of its Lakach natural gas project in the Gulf of Mexico to Grupo Carso, a company belonging to Mexican billionaire Carlos Slim.
U.S. natural gas trade will continue to grow with the startup of new LNG export projects
In the U.S. EIA's recently released Short-Term Energy Outlook, it was forecast that U.S. LNG exports will continue to lead growth in U.S. natural gas trade as three LNG export projects currently under construction start operations and ramp up to full production by the end of 2025.
EU expected to sue Germany over gas tariff
The European Commission is expected to sue Germany for charging its neighbors an extra fee for buying gas from its storage, seen as flouting the EU's single market rules.
Balticconnector gas pipeline will be in commercial use again, Gasgrid says
The damaged Balticconnector gas pipeline between Finland and Estonia will be in commercial use again on April 2024, Finnish gas system operator Gasgrid executive Janne Gronlund told an industry conference.
Hexagon and Dragos unveil technical partnership to strengthen industrial cybersecurity
Hexagon’s Asset Lifecycle Intelligence division announced a strategic partnership with Dragos, a global leader in cybersecurity for operational technology.
Tamarack Valley shuts Alberta output after gas plant fire
Canada's Tamarack Valley Energy has temporarily halted production at a Canadian Natural Resources Ltd gas plant in Alberta following a fire.
Engie buys two Dutch biogas sites, hunts for more
French energy company Engie has acquired two biomethane production sites in the Netherlands it hopes to expand, in line with plans to produce 10 terawatt hours of the gas and sell 30 TWh annually in Europe by 2030.
VNG plans investments in green gases, turned to profits in 2023
VNG, an east German gas subsidiary of power utility EnBW, said it will invest up to $5.31 B by 2035, mostly in green gases.
Norway's Nyhamna gas plant ramps up output after Sleipner repair
Norway's Nyhamna gas processing plant gradually ramped up exports following successful repairs of a faulty valve on the North Sea gas transportation hub Sleipner Riser.
Trafigura to commercially deploy Daphne technology's PureMetrics on LNG carrier
Daphne Technology reached a significant milestone as Trafigura, a global commodities industry leader, selected them for the first commercial deployment of PureMetrics, slated for the summer of 2024.
Radix partners with Cleopatra Enterprise to enhance project controls and turnaround management
Radix, a global technology solutions company, announced that it has signed a partnership agreement with Cleopatra Enterprise, a leading project cost management software company.
EQT to sell some natgas assets in Pennsylvania (U.S.) to Equinor USA
EQT will sell 40% interest in its non-operated natural gas assets in northeast Pennsylvania to Equinor USA in exchange for Equinor's onshore asset in the Appalachian basin and $500 MM in cash.
Russia's Gazprom ships second LNG cargo from Portovaya to Spain
Russia's Gazprom shipped a second cargo of LNG from its small-scale Portovaya LNG plant on the Baltic Sea to Spain.
Uzbekistan aims to achieve a chemical hub status with the help of Chinese polymer tech
Uzbekistan is embarking on a significant economic transformation with the help of Chinese technology, aiming to capitalize on its natural gas reserves by producing value-added products rather than solely relying on energy consumption.
Japanese consortium to invest $370 MM in I Squared Capital's India natural gas platform
A Japanese consortium will invest $370 MM to acquire a minority stake in a platform that invests in companies developing city gas distribution networks in India.
The U.S. exported a record volume of natural gas in 2023
The U.S. exported 10% more natural gas in 2023 than in 2022, a record of 20.9 Bcfd, according to the U.S. EIA's Natural Gas Monthly. U.S. LNG exports accounted for more than half of all U.S. natural gas exports, and natural gas exports by pipeline to Canada and Mexico accounted for the remainder.
Oklahoma (U.S.) sues two companies over alleged natural gas price manipulation
Oklahoma (U.S.) has sued two energy companies, accusing them of manipulating natural gas prices during Winter Storm Uri in 2021, according to a press release from the state attorney general's office.
Asia spot LNG at 3-month peak on steady demand, supply disruption
Asian spot LNG prices edged up, reaching the highest levels in three months, as they remained supported by steady demand and supply disruption concerns.
U.S. natgas prices ease 1% to 2-week low on lower demand forecasts
U.S. natural gas futures eased about 1% to a two-week low on worries about an oversupply of gas in storage and forecasts for lower demand over the next two weeks than previously expected due to a drop in feedgas to the Freeport LNG export plant in Texas (U.S.).
EU Parliament approves legal option to block Russian LNG imports
The European Parliament voted to pass rules allowing European governments to ban Russian LNG imports, by preventing Russian firms from booking gas infrastructure capacity.
U.S. natgas prices fall 5% on big storage build, low feedgas to Freeport LNG
U.S. natural gas futures dropped about 5% on a bigger-than-expected storage build and forecasts for lower demand over the next two weeks than previously expected due to a drop in feedgas to the Freeport LNG export plant in Texas.
Galveston LNG Bunker Port advances with construction permit application
Galveston LNG Bunker Port, LLC, formed as a partnership between Pilot LNG and Seapath Group, has taken a significant step forward in its plans to establish the GLBP small-scale natural gas liquefaction facility on Shoal Point in Texas City, Texas.
Mild winter weather may lead to persistently high natural gas inventories through 2025
The surplus to the five-year average grew over winter 2023–24 because of mild weather, low natural gas consumption, and high natural gas production. In our April Short-Term Energy Outlook, the U.S. EIA expects natural gas inventories to remain relatively high and natural gas spot prices to remain relatively low through 2025.
- 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
