LNG

Australia's. Woodside Energy wishes to turn into one of the world's biggest. independent producers of melted natural gas (LNG). In itself this is not a bad ambition. However choosing to do so. by taking control of a distressed U.S. LNG task is certainly a brave. way of tackling it. Woodside stated on Monday it has accepted obtain all of. Tellurian for an overall worth of $1.2 billion, consisting of. a cash payment of some $900 million, or $1 per share, a premium. of 75% to the U.S. business's last closing price. The purchase price is largely irrelevant. What's important. is...

Australia's. Woodside Energy wishes to turn into one of the world's largest. independent producers of liquefied natural gas (LNG). In itself this is not a bad ambition. However choosing to do so. by taking control of a distressed U.S. LNG task is certainly a brave. method of setting about it. Woodside stated on Monday it has actually consented to obtain. all of Tellurian for an overall value of $1.2 billion,. consisting of a cash payment of some $900 million, or $1 per share,. a premium of 75% to the U.S. company's last closing rate. The purchase price is largely unimportant....

Australia's Woodside Energy stated on Monday it had consented to purchase U.S. liquefied gas designer Tellurian, including its U.S. Gulf Coast Driftwood LNG export task, for $1.2 billion including debt. The arrangement might strengthen the United States' position as the world's biggest producer of the superchilled gas by securing the conclusion of Tellurian's 27.6 million metric ton per year facility in Lake Charles, Louisiana. The deal includes the $900 million cash purchase of exceptional Tellurian common stock at $1 per share, Woodside stated in a declaration, representing a more than 75% premium to Tellurian's last closing rate. The deal offers...

Private equity company Kimmeridge, through its subsidiary Kimmeridge Texas Gas, has acquired a 90% stake in proposed U.S. liquefied natural gas export task Commonwealth LNG, it stated on Tuesday. The financial investment will enable the job to move ahead, the business stated. The sum paid for the controlling interest was not disclosed. Kimmeridge designated previous BP Americas head David Lawler as CEO of Kimmeridge Texas Gas, effective instantly. We are excited to take a controlling interest in Commonwealth LNG as we integrate our service ... and look forward to the completion of a best-in-class LNG export facility in Louisiana, stated...

Constellation Energy on May 31 completely shut down the natural gasfired Mystic Generating Station situated in Charlestown, Massachusetts, the Energy Info Administration (EIA) said in a report on Monday. The company added Mystic's future had doubted when in 2018 its then-owner, Exelon, looked for to retire the plant due to success concerns. Nevertheless, recognizing its role in ensuring fuel security and system reliability during the peak winter season need season, grid operator Independent System Operator New England (ISO-NE). mandated the plant remain functional up until May 31, 2024, the. report stated. The retirement of Mystic also raised issues about the....

Owners of a $10billion. melted natural gas (LNG) task that has stalled with the. bankruptcy of its primary specialist are asking a court to. instantly oust Zachry Industrial from the project, a court. filing revealed. Zachry, which held the lion's share of the. agreement to construct Golden Pass LNG, declared Chapter 11. bankruptcy last month after suffering enormous expense overruns,. and said it was pursuing a structured exit. Golden Pass LNG, a joint endeavor between QatarEnergy and. Exxon Mobil, asked a U.S. personal bankruptcy court late on. Tuesday to sever Zachry's $5.8-billion contract within five. days, or enable it to...

The French government ought to purchase a golden share in TotalEnergies to have a say in strategic business choices, consisting of aligning its activities with the Paris Climate Accord and vetoing any possible relocate to the U.S., a nonbinding Senate report published on Wednesday said. The report follows nearly six months of hearings by a. special commission on whether TotalEnergies' worldwide activities. are aligned with France's own environment objectives. With snap elections in France in 2 weeks, it is unclear. what an incoming legislature will do with the report's 33. recommendations. We want Overall to remain a French group and...

Norway's gas exports to Britain through the Langeled pipeline will gradually resume on June 7 following a failure that began on June 2, delivering simply under half the typical capability, Norwegian system operator Gassco stated on Wednesday. The ramp-up plan will see an offered volume of 35 million cubic metres (mcm) of gas per day on Friday from Norway's. Nyhamna processing plant, some 44% of its total 79.8 mcm. capacity, according to a message on Gassco's transparency page. Gassco had actually said on Tuesday that gas would flow from Nyhamna. by means of the Langeled pipeline to Britain's Easington terminal...

Oil huge Aramco is in talks with U.S. firms Tellurian and NextDecade on 2 separate melted gas (LNG) projects as the Saudi firm seeks to improve its gas trading and production, 3 sources near to the talks told . U.S. gas production has grown over the previous years with oil majors and Aramco's rivals such as Qatar Energy completing to construct numerous jobs to export gas to Europe and Asia. The state energy firm remains in talks with Tellurian to buy a stake in its 27.6 million metric lot per annum (mtpa). Driftwood LNG plant near Lake Charles, Louisiana. Aramco...

U.S. exports of melted gas (LNG) rebounded in May as Freeport LNG, the country's secondlargest exporter of the superchilled gas, returned to complete production and as more materials streamed to Asia, initial data from LSEG showed. The U.S. is the world's biggest exporter of LNG and a key provider to Europe because Russia's intrusion of Ukraine, however general exports decreased for 4 successive months this year, information from the monetary firm revealed on Monday. There have actually been upkeep activities at some plants, as well as at Freeport LNG due to mechanical problems that led to 3 of its processing...

Japan's top city gas provider Tokyo Gas is wanting to include more U.S. gas possessions, its president said on Monday, as it intends to broaden its gasrelated companies in The United States and Canada after its current acquisition of a U.S. shale gas manufacturer. The Japanese business paid $2.7 billion to acquire Texas-based natural gas manufacturer Rockcliff Energy in December and agreed to purchase a 49% stake in North American energy marketing and trading firm ARM Energy Trading in February. We would still think about buying shale gas possessions if we can get them at the suitable cost and in...

Aethon Energy stated on Wednesday it would purchase Tellurian's upstream properties for $260 million and signed an offer that might enable the investment company to purchase 2 million lots per year of liquefied natural gas from Tellurian's Driftwood LNG plant. Shares of the U.S. LNG developer rose 13.2% in premarket trading. had actually reported earlier this month that Tellurian sent home more than a lots employees from its upstream gas production company amidst sale talks. The LNG designer had ousted its chairman and co-founder Charif Souki late in 2015 after auditors raised doubts about the company's capability to cover future...

China's thermal power generation fell on the year for a second straight month in June as hydropower generation rose, data from the National Bureau of Data showed on Monday. Thermal electrical energy, generated mostly by coal-fired capability, fell 7.4% in June after declining by 4.3% in May. However, thermal output still increased 1.7% over the first 6 months as a whole. Hydropower volumes rose 44.5% in June and 21.4% over the first six months. The pattern could put China on track for a year-on-year decrease in coal use for 2024 as a whole, if hydropower output remains strong, said David...

Russia's President Vladimir Putin applauded Vietnam for its balanced stance on the Ukraine war and noted development on payments, energy and sell an viewpoint piece published on Wednesday in the newspaper of Vietnam's Communist Celebration. In the piece timed for Putin's state see to Vietnam, he applauded the Southeast Asian Communist-ruled nation for supporting a pragmatic way to resolve the crisis in Ukraine, in comments released in the Nhan Dan newspaper. Vietnam, which formally pursues a neutral foreign policy in its relations with major world powers, has actually abstained from condemning Russia's attack on Ukraine, a position that Western countries...

China's. imports of significant products were either openly weak in May,. such as the decline in crude oil, or those revealing apparent. signs of strength were deceptive and mostly driven by factors. aside from increasing usage. Arrivals of crude dipped into unfavorable area for the. first five months of the year, with computations based on. main custom-mades data launched on June 7 showing imports of 11.0. million barrels each day (bpd) in the January to May duration, down. 1.2% from 11.13 million bpd in the very same duration last year. China, the world's largest crude importer, landed 11.06. million bpd...

U.S. liquefied natural gas (LNG). exporter Freeport LNG submitted a lawsuit in April against three. contractors, alleging that installation defects in electrical. motors at its $14billion Texas export plant caused extended. failures and expensive repairs. The claim, submitted in a Texas district court, declares that. work done by specialists Zachry Industrial, Chiyoda. International, and CB&I, a system of McDermott. , led to significant damage to crucial equipment. Freeport's Quintana, Texas, facility has experienced approximately. a lots events up until now this year. The plant can produce more. than 15 metric tonnes per annum of LNG and take in roughly 2.1....

Japan's leading city gas supplier Tokyo Gas is seeking to add more U.S. gas assets, its president said on Monday, as it intends to broaden its gasrelated businesses in North America after its current acquisition of a U.S. shale gas manufacturer. The Japanese company paid $2.7 billion to get Texas-based gas manufacturer Rockcliff Energy in December and consented to purchase a 49% stake in North American energy marketing and trading firm ARM Energy Trading in February. We would still consider investing in shale gas possessions if we can acquire them at the appropriate price and in a competitive way, Tokyo...

Severe temperature levels across Asia are increasing liquefied gas (LNG) need in the area as importers seek cargoes ahead of summer season, with imports in South Asia hitting records. This might tighten offered supply and further lift Asian spot rates that have currently gained a third because April, with heatwaves across South and Southeast Asia boosting air-conditioner use and other cooling need. Costs are now at a near six-month peak at $12 per million British thermal units ( mmBtu) and are expected to stay raised. Area costs are now driven by Asian need. Temperatures in South Asia are increasing due...

Proposed new European sanctions targeting transhipments of Russian melted natural gas (LNG) are not likely to effect Asian purchasers, Kadri Simson, European Commissioner for Energy, told reporters in Tokyo on Monday. As part of a 14th package of sanctions on Russia over its war on Ukraine, the European Union proposed to ban re-loading services by EU facilities for trans-shipment of Russian LNG to third nations. This does not impact imports into the EU. The EU would likewise ban new investments and the provisions of goods, innovation and services by EU operators for the completion of LNG jobs under building such...

Woodside will get $1 bln in financing for its flagship Scarborough melted natural gas project from stateowned Japan Bank for International Cooperation, the Australian energy giant said on Thursday. Scarborough, a $12 billion LNG project in Western Australia, has recently been under the lens of Asian purchasers who are aiming to secure long-term supply of natural gas. Woodside in February accepted a $1.4 billion deal to offer a 15.1% stake in the task to Japan's most significant power manufacturer, Jera Co. . Japan is the world's second biggest LNG purchaser and is presently moving to support more gas after the...

The lead contractor building a Texas melted natural gas (LNG) plant for QatarEnergy and Exxon Mobil on Tuesday applied for Chapter 11 personal bankruptcy security, mentioning challenges at the task. Zachry Holdings, which held the lion's share of the $10 billion building task called Golden Pass LNG, stated it was pursuing a structured exit. Exxon stated it would review building and construction timing and provide an upgrade in the future. Golden Pass LNG is being developed at the website of a former gas-import terminal that has been transformed to process natural gas for LNG exports. It is among 2 big...

China's liquefied natural gas imports might hit record levels in 2024, a PetroChina main forecast on Wednesday. The world's top importer of the super-chilled fuel is seen shipping between 78-80 million metric tons of LNG this year, with the industrial and commercial sectors driving need, Zhang Yaoyu, international head of LNG and new energies for PetroChina International, stated at a market conference in Bangkok. Zhang's projection would be a 9-12% rise from the 71.2 million metric tons imported in 2023, according to China's custom-mades information. China imported a record 78.8 million metric lots in 2021. Based upon the very first...

Chinese energy company CNOOC Ltd. posted a fall of 12.6% in 2023 earnings. after a record high a year previously, as hydrocarbon rates fell,. although a focus on cost control and reserve growth helped. the outcome. The state-controlled overseas oil and gas expert. reported a net revenue of 123.8 billion yuan ($ 17.20 billion) in. a filing to the Hong Kong Stock Exchange on Thursday. Its oil and gas output increased 8.7% to 678 million barrels of. oil equivalent (boe), topping its target of 650 million to 660. million boe. Historically among the industry's lower-cost explorers and. manufacturers, the company's...

Top oil executives and ministers descend on Houston this week for among the world's. greatest energy conferences emboldened by hit mergers,. steady oil costs and less pressure for a largescale relocate to. tidy fuels. Worldwide oil costs have stayed in a range between. $ 75 and $85 per barrel, a level fueling earnings but not injuring. economic growth, despite war in Eastern Europe and turmoil in. the Middle East. Stock markets continue to stimulate offers, making. Big Oil even bigger. The yearly CERAWeek conference comes as need for oil and. gas continues to rise along with solar, wind and biofuels....