Middle East

ADNOC and bp to form gas joint venture

ADNOC and bp announced that they have agreed to form a new JV in Egypt which will combine the pair’s deep technical capabilities and proven track records as it aims to grow a highly competitive gas portfolio.

Shell expects 50% rise in global LNG demand by 2040

Global demand for LNG is estimated to rise by more than 50% by 2040, as China and countries in South and Southeast Asia use more LNG to support their economic growth.

Iran's main gas pipeline hit by sabotage, oil minister says

Two explosions along Iran's main south-north gas pipeline network were caused by sabotage, the Iranian oil minister told state TV, without naming any suspects.

QatarEnergy selects Nakilat to own and operate up to 25 conventional LNG vessels

QatarEnergy announced that it has selected Qatar Gas Transport Company Limited to be the owner and operator of up to 25 conventional-size LNG carriers pursuant to Time Charter Parties to be entered into by affiliates of QatarEnergy and Nakilat.

ADNOC Gas reports 24% Y-o-Y increase in Q4 2023 net income to $1.35 B

ADNOC Gas plc and its subsidiaries, a world-class integrated gas processing company, today announced its consolidated financial results for the three months ended December 31, 2023 and for the period from 8 December 2022 to 31 December 2023.

European and Asian companies affected by U.S. pause on LNG export permits

U.S. President Joe Biden's administration announced a pause on pending and future permits to export LNG to non-Free Trade Agreement countries until the Department of Energy finishes a new review of climate impacts.

QatarEnergy, Excelerate Energy sign 15-year supply LNG deal

QatarEnergy and U.S.-based Excelerate Energy signed a 15-year agreement to supply 1 MMtpa of LNG to be delivered to Bangladesh for 15 years from January 2026.

Dana Gas resumes operations at Iraqi Kurdistan’s Khor Mor gas field

United Arab Emirates energy firm Dana Gas has resumed the production operations at Iraqi Kurdistan's Khor Mor gas field have been resumed, the company said in a statement.

Qatar delays LNG shipments to Europe amid Red Sea conflict

Qatar, one of the world's biggest LNG exporters, is delaying some shipments to Europe as conflict in the Red Sea forces longer travel times.

LPG exports from Russian ports to Turkey double in 2023

Supplies of LPG from Russian ports to Turkey doubled in 2023, according to traders and LSEG data, as trade between Moscow and Ankara grows at a brisk pace amid Russia's pivot away from Europe.

Gas exporting group sees tight global LNG markets until 2026

The Gas Exporting Countries Forum sees tight global LNG markets until 2026 as demand rises 1.5% this year and up to 22% through 2050.

Qatar set to sign cheaper long-term LNG deal with India

Qatar Energy within weeks could sign a long-term deal to provide LNG to Indian buyers on cheaper and more flexible terms than existing contracts as India seeks to meet a goal to increase the fuel's use.

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.

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.

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.

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.

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.

Asia LNG prices hit 4-mos low despite supply, geopolitical concerns

Asian spot LNG prices hit their lowest level in over 4 mos this week on strong inventories and weak demand despite supply concerns as more tankers avoid the Red Sea, following attacks launched by Yemen's Houthi group on commercial ships.

Some LNG vessels avoid passing Yemen after Red Sea attacks increase

Several LNG vessels have changed their courses in recent days to avoid the Red Sea region amid maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.

QatarEnergy CEO says new LNG supply deals 'imminent'

QatarEnergy expects to agree new long-term liquefied natural gas supply deals in Asia and Europe, with several "imminent".

Afghanistan doubles Russian LPG fuel imports, industry data shows

Afghanistan's Taliban government doubled purchases of Russian LPG in the January-November period, according to industry data, as Russia redirects supplies away from Europe amid political fallout from the Ukraine conflict.

Countries in the Middle East and North Africa supply about one-third of global LNG

Exporting countries in the Middle East and North Africa region supplied nearly one-third (29%) of global LNG exports in 2022, according to data from the International Group of Liquefied Natural Gas Importers.

ADNOC and SOCAR to collaborate on hydrogen, carbon management and geothermal technologies

ADNOC and the State Oil Company of Azerbaijan Republic announced the signing of a strategic collaboration agreement that sets out their intention to collaborate on the potential development of low carbon energy technologies.

OPEC head accuses IEA of vilifying fossil fuel industry

OPEC Secretary General Haitham Al Ghais accused the International Energy Agency of vilifying the oil and gas industry, in the latest clash between the groups over climate policy.

Pakistan LNG gets bids from OQ Trading, others in Jan import tender

Pakistan LNG Ltd's import tender for a liquefied natural gas (LNG) cargo for delivery in January drew bids from OQ Trading, QatarEnergy Trading, Trafigura and Vitol, it said in a notice on Friday.

BASF shares rise on report ADNOC exploring Wintershall Dea deal

Shares in chemicals giant BASF rose on Friday after a report that Abu Dhabi National Oil Co is exploring an acquisition of the German group's energy business Wintershall Dea.

Spain's Endesa cuts profit, dividend outlook after LNG ruling

Spanish power utility Endesa cut its profit and dividend outlook to take into account the impact of a court order to pay $570 MM following a dispute over a long-term LNG supply contract with Qatar.

Oman, BP sign LNG deal

State-owned producer Oman LNG has signed a deal to supply LNG to energy giant BP.

Egypt expected to resume LNG exports in December or January

Egypt is expected to resume exports of LNG in December or January as domestic demand declines during winter and as it receives more gas from Israel.

Mideast conflict dims prospect of more Egyptian LNG exports to Europe

The prospect of the EU receiving more LNG from Egypt in the short and medium term looks unachievable due to tight gas balances and reduced imports form Israel.