LNG








Asia

North America

Natural Gas Utilities

Aethon Energy to purchase Tellurian upstream properties for $260 million

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...

LNG

EUROPE GAS-Prices rangebound as supply rebounds

LONDON, May 29 - Dutch and British wholesale gas rates were rangebound on Wednesday early morning as maintenance outages in Norway reduced and supply rebounds. The benchmark front-month agreement at the Dutch TTF center inched up by 0.21 euro to 33.76 euros per megawatt hour (MWh) by 0917 GMT, while the July contract edged up by 0.01 euro to 33.89 euros/MWh, according to LSEG data. In the British market, the June contract was 0.08 pence greater at 80.85 pence per therm. There isn't a clear instructions at the moment. Norwegian supply is healthier however demand isn't that strong, a gas...

Oil & Gas Exploration

Glenfarne seeks 5 more years to build Texas LNG export plant

U.S. energy company Glenfarne Group LLC has actually asked federal energy regulators to offer it until November 2029 to put its proposed Texas LNG export plant into service, according to a filing provided on Tuesday. Texas LNG is one of more than three lots LNG export plants being established in the U.S., Mexico and Canada, a few of which have been under development for many years. The U.S. Federal Energy Regulatory Commission approved building of Texas LNG in November 2019. That order provided the business five years, until November 2024, to construct the facility and location it into service. We...

Fossil Fuels

US spot natgas costs hit record low in California, power rates remain negative

U.S. area gas costs in Southern California was up to a record low for Tuesday, while power in Arizona and California remained unfavorable amidst low energy demand over the Memorial Day holiday weekend and ample inexpensive hydropower and other sustainable supplies. Negative costs signal there is excessive power or gas being produced in a region. Energy companies can either decrease output, pay someone to take their power or gas, or, if they can get a. license, flare undesirable gas. Next-day gas prices at the Southern California (SoCal). Border slid to a record low of 92 cents per. million British thermal...

Power Markets

EUROPE GAS-Prices dip on warmer temperatures and strong supply

LONDON, May 24 - Dutch and British wholesale gas costs fell on Friday morning on expectations of warmer temperature levels and strong supply from Norway. The benchmark front-month agreement at the Dutch TTF hub was down 0.77 euro at 34.60 euros per megawatt hour ( MWh) at 0807 GMT, while the September contract was down 0.52 euro at 36.20 euros/ MWh. In the British market, the front-month price was down 1.33 cent at 84 pence per therm. The latest temperature projection is primarily in line with the previous weather run, anticipating temperatures to vary between 0.8 degrees (Celsius) and 3.8...

Climate Change

Youth climate-change claim targets Alaska LNG job

8 young Alaska homeowners took legal action against the state on Wednesday seeking to block a major natural gas job, the latest in a. string of climate-change related lawsuits by youths arguing that. government policies promoting nonrenewable fuel sources break their rights. The Anchorage state court lawsuit, brought by a group of. complainants ranging in age from 11 to 22, alleges that an Alaska. law mandating the job's advancement infringes on their due. process rights and other constitutional securities by triggering. the release of greenhouse gases that damage their health and. livelihood. Numerous of the other youth climate-change lawsuits have....

Natural Gas

Youth climate-change claim targets Alaska LNG project

8 young Alaska homeowners sued the state on Wednesday seeking to block a major gas job, the current in a string of climatechange associated lawsuits by youths arguing that federal government policies promoting fossil fuels breach their rights. The Anchorage state court claim, brought by a group of plaintiffs varying in age from 11 to 22, alleges that an Alaska law mandating the task's development infringes on their due procedure rights and other constitutional protections by triggering the release of greenhouse gases that hurt their health and livelihood. Several of the other youth climate-change claims have recently been dismissed, consisting...

LNG

US natgas flows to Freeport LNG in Texas seen at five-month high, LSEG information shows

Gas streaming to Freeport LNG's. export plant in Texas was on track to hit a fivemonth high up on. Friday, LSEG information showed, with a liquefaction train expected to. return from a short upset on Thursday. The start-up and shutdown of Freeport and other U.S. liquefied gas (LNG) export plants frequently has a major. impact on international gas rates. U.S. gas futures at the Henry Hub standard in. Louisiana have soared by around 59% over the past 3 weeks,. due in part to the boost in feedgas at Freeport after it. left a blackout in late April. U.S. gas futures...

Crude Oil

Canada's Pembina Pipeline expects financial investment choice on Cedar LNG task in June

Pembina Pipeline Corp stated on Thursday development on its proposed $4 billion Cedar job remains on track and a last financial investment choice (FID) is anticipated in June on what would be among Canada's first liquefied gas export terminals. Cedar, a joint endeavor between indigenous community Haisla First Country and Pembina, would produce 3.3 million tons of melted gas (LNG) per year after completion in 2028. We do have all crucial regulative licenses. Cedar financing has been launched and is on target for that FID timing ... We have extremely well defined plans that have actually been finished and the...

Environment

US regulators seek emission data updates for Venture Global LNG plant

U.S regulators asked LNG exporter Venture Global LNG to update its emissions analysis for its proposed Calcasieu Pass 2 LNG export task in Louisiana, according to a letter sent out on Wednesday. Venture Global is seeking consent from the Federal Energy Regulatory Commission to double the capability of its Calcasieu Pass liquefaction plant with a 2nd phase that would produce 20 million lots of LNG per year. The Arlington, Virginia-based business has actually provided other regulators different emissions info on its CP1 project, FERC said, requesting upgraded emissions data following a. complaint from environmental groups. Last month, the Sierra Club...

Natural Gas

Republican US lawmakers prompt regulators to process LNG task applications

2 influential U.S. Republican politician lawmakers have actually prompted the head of the federal energy regulator to procedure applications for liquefied natural gas, or LNG, projects, saying any delays might force allies and partners to turn to nations like Qatar and Iran for the fuel. President Joe Biden, a Democrat, in January announced a. time out on Department of Energy approvals of LNG exports to. nations in Asia and Europe in order to study environmental,. climate and financial effects of the growing service. The Federal Energy Regulatory Commission, an independent. panel, approves other aspects of LNG jobs consisting of. building....

LNG

Ships queue at Freeport LNG plant in Texas as complete operations resume

LNG tankers started loading at Freeport LNG in Texas today as full operations resumed at the liquefied natural gas export plant after repair work and upkeep, information from financial firm LSEG revealed on Wednesday. Interruptions at the second-largest U.S. liquefaction plant have pushed U.S. gas prices lower and raised LNG rates in Europe in the past. The plant, which has actually been undergoing repair work for a number of weeks, has resumed complete operations, a Freeport LNG representative validated. The Shinshu Maru LNG tanker was moored at Freeport LNG's. terminal on Wednesday, and Flex Vigilant left on Tuesday,. LSEG information...

Europe

LNG

EUROPE GAS-Dutch prices firm as supply dangers stick around

May 27 - Dutch wholesale gas rates increased on Monday morning as better gas flows from Norway and windier weather projections failed to settle nerves over larger supply issues. The benchmark front-month contract at the Dutch TTF center was up 0.63 euros at 34.38 euros per megawatt hour ( MWh) at 0907 GMT, according to LSEG data. The July agreement was up 0.60 euros at 34.75 euros/ MWh while the day-ahead contract got 0.15 euros to 34.43 euros/MWh. The British market was closed on Monday since of a. legal holiday. Gas seems to be in a bullish trend given that...

LNG

Australian gas industry looks for policy repairs to increase financial investment

Australia's natural gas industry executives are looking for more steps to bring back an investment environment they say has been damaged by a series of state interventions to boost domestic supply and curb skyrocketing energy prices. While most executives at the Australian Energy Manufacturers Conference in Perth were broadly in favour of the Australia Future Gas strategy unveiled by the federal government this month, they required instant action and improvements to the policy to avoid new gas supply deficiencies. If you take a look at some of the policy modifications that have occurred over the past couple of years, there...

Refined Products

Shell sees emerging Asian markets taking more of world's growing LNG supply

Shell anticipates its Australian supplies of liquefied gas (LNG). to help meet need from emerging markets in south and southeast. Asia, which are tipped to soak up a few of the pick up in global. products towards completion of this years. Asian spot LNG costs increased last week to the highest levels. considering that January as heat throughout the region stimulated demand. for the super-chilled fuel. That combination of decarbonisation, and declining domestic. production (will drive LNG demand growth), Cecile Wake, Nation. Chair at Shell Australia informed on the sidelines of the. Australian Energy Producers Conference on Wednesday. Wake expects...

Western Europe

East Asia

Power Markets

Tokyo Gas seeks more US gas assets, president states

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...

Environment

Severe Asian heat spurs LNG demand ahead of summer season

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...

Natural Gas

Proposed EU ban on Russian LNG transhipments present no issues for Asia, EU commissioner says

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...

LNG

Woodside gets $1 bln in funding for Scarborough LNG job

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...

Fossil Fuels

Firm structure QatarEnergy-Exxon LNG plant in Texas files for bankruptcy

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...

Energy Markets

China LNG imports might strike record levels in 2024, PetroChina authorities says

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...

Fossil Fuels

China CNOOC's 2023 revenue falls 12.6% after record 2022

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...

Renewable Energy

Oil mergers, tidy fuels vie for attention at Houston energy conference

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....

Heating Oil

Sinopec's 2023 net income falls 9.9% in 'complex environment'

China Petroleum & & Chemical Corp. , better known as Sinopec, reported a 9.9%. decrease in 2023 net revenue on Sunday, weighed by falling oil and. gas prices but supported by recuperating fuel demand. The world's largest refiner by capacity posted earnings of. 60.5 billion yuan ($ 8.37 billion), based on Chinese accounting. standards, in a filing to the Shanghai stock market. Sinopec faced a complicated operating environment and. intense competitors in 2015, it stated in a statement to. . Air travel fuel and gas led a post-pandemic need. healing as passenger air traffic rose and individuals drove more. in...

Energy Markets

Not even China can help Australia's commodity exports: Russell

Australia has gone from a leader of the pack in product exports to a. laggard, as costs of resources more based on China struggle. to build momentum. China is the world's most significant importer of petroleum, iron. ore, coal, melted gas (LNG), copper and lithium,. to name a few more minor products. Australia is the world's largest exporter of iron ore and. lithium, and ranks second in coal and LNG. Australia was likewise a major recipient in the spike in. rates for numerous products, including coal and LNG, that. occurred in the wake of Russia's intrusion of Ukraine in February....

Natural Gas

Asia takes LNG that Europe doesn't require as area cost remains soft: Russell

Asia's. imports of melted natural gas (LNG) increased dramatically in March as. the topbuying region benefited from lower spot costs to. draw cargoes away from Europe. A total of 24.16 million metric tons of the super-chilled. fuel landed in Asia in March, up from February's 22.73 million. and likewise up 11.5% from the 21.67 million in March 2023,. according to information assembled by commodity experts Kpler. The strength in imports came as area costs for LNG for. shipment to North Asia remained soft in February and early. March, when the bulk of freights would have been arranged. The spot cost...

LNG

Russia's Arctic LNG 2 suspends gas liquefaction amid sanctions, absence of tankers, sources state

Novatek, Russia's largest producer of liquefied natural gas (LNG), has suspended production at its Arctic LNG 2 job due to sanctions and a lack of gas tankers, two sources familiar with the matter informed on Tuesday. The task had been wishing to begin business shipments in the first quarter of this year. But strategies were made complex in 2015 when it was included in Western sanctions over Russia's conflict in Ukraine, prompting foreign investors to freeze involvement and Novatek to issue a force majeure. The decision to suspend converting gas to LNG is a. blow to Russia's goal to capture...