Natural Gas








Asia

North America

Natural Gas

US oil and gas production program signs of flattening: Kemp

U.S. oil and gas production are finally revealing signs of flattening out as drilling rigs and well conclusion teams have been idled in action to the retreat in rates considering that the middle of 2022. Across the country crude and condensates production was performing at practically 13.2 million barrels per day (b/d) in March 2024 according to the most recent data from the U.S. Energy Details Administration (EIA). Nevertheless, there had been no net development given that October 2023, showing the surge in production after completion of the coronavirus pandemic and Russia's invasion of Ukraine had ended. Production from the...

Natural Gas

NY power grid deals with shortfalls as brand-new energy supply lags, operator states

New york city's electrical grid will deal with supply deficiencies if the rate of retiring old fossil fired power plants continues to quickly outmatch the addition of tidy brand-new energy supply at the exact same time demand rises, the state's grid operator said on Thursday. New York has actually set an objective for 100 percent clean energy on its grid by 2040 to reduce carbon emissions and slow the progress of climate modification. The effort that will need a large roll-out of renewable energy and the axing of power plants sustained by fossil fuels like natural gas. In the 5...

Energy Markets

Texas startup hopes 4th time's an appeal to construct initially big US oil refinery since 1977

Aspect Fuels Holdings, a. Dallasarea start-up proposing to construct the very first allnew U.S. oil refinery in almost 50 years, on Thursday said it was. relaunching efforts to build a large plant in South Texas. The Brownsville, Texas, job has been proposed by. entrepreneur John Calce a minimum of two times previously by his ARX Energy,. and JupiterMLP startups, with one leading to a personal bankruptcy. filing. The job was originally owned by a holding business. that also owned Centurion Terminals. Aspect is seeking to raise funds for the very first phase, which. will allow the refinery to process about...

Energy Markets

TotalEnergies, APA to make investment decision in Suriname in Q4

TotalEnergies and APA Corp will make a. last investment choice on Suriname's a lot of appealing oil and. gas task in the fourth quarter, intending to begin output in. 2028, the French energy business stated on Wednesday. Its $9 billion project is carefully enjoyed as it will be. Suriname's first industrial offshore advancement. Block 58 also. lies adjacent to Exxon Mobil's enormous Stabroek block in. Guyana, where more than 11 billion barrels of recoverable oil. and gas have been found. Engineering studies are advancing for the development. of the Sapakara and Krabdagu fields, with combined recoverable. resources estimated above 700...

Fossil Fuels

Norway gas supply to Britain to ramp up on Friday, costs relieve

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 & Gas Exploration

Saudi Aramco holding LNG talks with US companies Tellurian, NextDecade, sources say

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...

Natural Gas

Goldman Sachs-backed Danish energy trader sees profit plunge

Danish energy trader InCommodities, backed by Goldman Sachs, on Tuesday reported a. plunge in its pretax revenue for 2023 to 136 million euros, just. 10% of its record earnings seen a year earlier, as energy markets. returned to calmer waters. In 2022, the Aarhus-based business, which trades power and. gas in Europe, the United States and Asia, had tape-recorded a profit. before tax of 1.4 billion euros ($ 1.52 billion). Goldman Sachs and chosen financiers own a 15% stake in the. company while its four creators and employees own the rest,. according to its annual report. There's no doubt that...

Oil & Gas

US oil futures draw restored interest from hedge funds: Kemp

Portfolio investors purchased petroleum agreements for the first time in seven weeks as traders squared up short positions ahead of a meeting of OPEC? ministers to decide production policy in the 2nd half of 2024. Hedge funds and other money supervisors bought the equivalent of 21 million barrels in the 6 most important futures and alternatives agreements over the 7 days ending on May 28. The purchases were the first after 6 weeks of sales totalling 304 million barrels since April 9, according to records released by ICE Futures Europe and the U.S. Commodity Futures Trading Commission. Most of the...

Power Markets

US area power rates turn negative in California, Arizona again

U.S. area power prices in California and Arizona turned unfavorable again for Monday, while nextday natural gas costs in northern California fell to their lowest considering that 2001 in the middle of low need and ample low-cost hydropower and other sustainable supplies. Unfavorable prices signal there is excessive power or gas being produced in an area. Energy firms can either minimize output, pay someone to take their power or gas, or, if they can get a. permit, flare undesirable gas. Next-day power at the Palo Verde hub in. Arizona fell to unfavorable$ 2.50 per megawatt hour (MWh) for. Monday, while...

Nuclear Power

New England grid gotten ready for summer electrical energy need, operator says

The New England electrical power grid is set to meet peak electrical energy need this summer season, even if extended heat triggers demand to spike, the ISO New England ( ISONE) stated on Monday. Under typical weather conditions, the grid operator expects electricity demand to touch 24,553 megawatts (MW) however warmer-than-average weather condition could increase that forecast to 26,383 MW, ISO-NE said in a statement. However, while this would tighten up supply margins, the ISO is prepared to take steps to maintain the region's power system dependability if needed, it added. The grid operator manages the electric system across six...

Natural Gas

United States oil futures draw renewed interest from hedge funds: Kemp

Portfolio investors purchased petroleum agreements for the very first time in seven weeks as traders squared up short positions ahead of a conference of OPEC? ministers to decide production policy in the second half of 2024. Hedge funds and other money managers bought the equivalent of 21 million barrels in the 6 crucial futures and choices contracts over the 7 days ending on May 28. The purchases were the first after 6 weeks of sales amounting to 304 million barrels given that April 9, according to records published by ICE Futures Europe and the U.S. Product Futures Trading Commission. The...

Natural Gas

United States LNG exports rise in May as Freeport LNG returns to production

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...

Europe

LNG

Egypt to provide tender for a minimum of 15 LNG cargoes to cover summertime demand - sources say

Egypt prepares to release a buy tender looking for 1520 freights of melted natural gas (LNG) to cover heavy summertime need that had actually led to a wave of rolling blackouts and forced short-term shutdowns of chemical and fertilizers plants, 4 industry sources informed . The most populous Arab country has actually returned to being a web importer of gas, reversing its position as an exporter in the last few years as part of a plan to end up being a trustworthy provider to Europe. Gas supplies that help Egypt generate electrical energy have been decreasing at a time when...

Power Markets

German utilities to bid for new power station capability

Germany's government has announced it will launch tenders in 2024 for 10 gigawatts (GW). of brand-new gasfired power station capacity that should be ready to. switch to clean hydrogen in the transition away from fossil. fuels. Economy minister Robert Habeck said on Thursday that the. tenders could be finalised before the summer break. Energies intend to bid for aids that Berlin has actually dedicated. to pay because the plants will match unpredictable renewables. until such time that electricity can be 100% green. They will need financial backing since they will just. operate when weather-driven sustainable supply falls short - not....

Natural Gas

German economy minister: power plant strategy to be completed quickly

German Economy Minister Robert Habeck stated on Thursday he was putting finishing touches to a postponed power plant method in close talks with the European Commission, which needs to approve it to prevent unfair benefits for utilities in Germany. We are down to the small print, Habeck said at the yearly congress of the nationwide energy industry association BDEW in Berlin. The EU Commission also wishes to end up, he said of the prepare for tenders for 10 gigawatts (GW) of initially gas-fired capability to enhance green power and switch to tidy hydrogen later on, efforts that have actually taken...

Western Europe

Middle East

Oil Refineries

Egyptian fertilizer plants shut down momentarily due to gas supply pressures

Gas products will slowly resume flowing since Thursday to fertilizer factories in Egypt after a number of chemical and fertilizer companies closed down plants on a momentary basis, the petroleum ministry said. The business stated in bourse disclosures that increased consumption-driven pressures on the natural gas network led to changes in supply. Some cited heats as a reason for the disturbance, as more gas was utilized for power generation. On Tuesday, a joint statement by the petroleum and electrical power ministries revealed an extension of rolling power cuts across the country for an extra hour to allow for preventative upkeep...

Natural Gas Utilities

QatarEnergy indications LNG supply deal with Taiwan's CPC

QatarEnergy signed a deal on Wednesday to provide Taiwan's stateowned oil company CPC with liquefied gas (LNG) for 27 years and giving it a stake in the Gulf state's gas growth project. The state-owned Qatari company said that it will supply CPC with 4 million tons per year (mtpa) of LNG from the North Field East, the eastern growth of the job. CPC will likewise take an equity stake because part of the job, QatarEnergy's declaration stated. The stake is the equivalent of 5% of one LNG train with capability of 8 million metric loads a year. This transfer will...

Natural Gas

Saudi Aramco holding LNG talks with United States firms Tellurian, NextDecade, sources say

Oil giant Aramco is in talks with U.S. firms Tellurian and NextDecade on 2 separate melted gas (LNG) projects as the Saudi company looks for to improve its gas trading and production, 3 sources near the talks informed . U.S. gas production has actually boomed over the past decade with oil majors and Aramco's rivals such as Qatar Energy competing to build several tasks to export gas to Europe and Asia. The state energy firm is in talks with Tellurian to purchase a stake in its 27.6 million metric ton per year (mtpa). Driftwood LNG plant near Lake Charles, Louisiana....

Natural Gas

OPEC+ changes method to safeguard market share: Kemp

Oil futures rates have been up to the most affordable level for four months and calendar spreads have plunged after OPEC+ ministers indicated their intent to begin increasing production from the fourth quarter of 2024. Front-month Brent futures closed at $78 per barrel on June 3, the first day of trading following the OPEC+ ministerial conference on June 2, up just $2 per barrel compared with the exact same time in 2015. Front-month Brent futures traded at a premium of $1.50 per barrel over contracts 6 months further forward (56th. percentile for all months because 2000) down from an average...

Natural Gas

Egypt adds an additional hour to rolling blackouts on Tuesday

Egypt said it was extending its rolling power blackouts across the nation for an extra hour on Tuesday to allow for preventative maintenance on its regional gas and power networks and since of increased consumption triggered by a heatwave. Temperature levels rose to nearly 40 degrees Celsius (104. Fahrenheit) in Cairo on Tuesday and were anticipated to climb up even. greater over the coming few days. This needs increasing the load shedding duration for an. additional hour, today just, to maintain the functional. efficiency of the nationwide electrical power transmission and gas. networks, a joint declaration by the ministries of...

Energy Markets

Egypt includes an additional hour to rolling blackouts on Tuesday

Egypt stated it was extending its rolling power blackouts across the nation for an additional hour on Tuesday to permit preventative maintenance on its regional gas and power networks and because of increased consumption brought on by a heatwave. Temperatures rose to nearly 40 degrees Celsius (104. Fahrenheit) in Cairo on Tuesday and were anticipated to climb up even. higher over the coming couple of days. This requires increasing the load shedding duration for an. additional hour, today only, to maintain the operational. performance of the national electrical power transmission and gas. networks, a joint statement by the ministries of...

Oil & Gas

Turkey, Azerbaijan consent to extend gas agreement until 2030

Turkey and Azerbaijan have actually agreed to extend their natural gas supply agreement, due to end at the end of this year, till 2030, and to provide Turkmen gas to Turkey, Turkish Energy Minister Alparslan Bayraktar said on Tuesday. The extended Azerbaijan-Turkey gas deal covers the delivery of 3.5 billion cubic metres (bcm) of natural gas per year to Turkey until 2030, a SOCAR official told in Baku. In addition to the accord in between Turkey's state gas grid operator BOTAS and the Azeri gas supply business, 4 contracts were signed between BOTAS and Azerbaijan's state oil company SOCAR for...

Oil & Gas Exploration

Saudi Aramco: the oil colossus

Saudi Arabia may reveal a. landmark secondary share offering in oil giant Aramco. later Thursday, pending final approval from Crown Prince. Mohammed bin Salman, people with knowledge of the matter stated. The landmark sale follows Aramco's record IPO nearly five. years earlier, as the kingdom pushes ahead plans to diversify its. economy away from oil. Below are essential realities about Aramco: HISTORY Explorers from the Rockefeller family's Requirement Oil Company. struck oil in Saudi Arabia in 1938. The endeavor ended up being called. the Arabia American Oil Business and petroleum production hit. 500,000 barrels daily in 1949. By 1980, the...

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...

Energy Markets

EUROPE GAS-Prices calm as Norwegian upkeep alleviates

LONDON, May 22 - Dutch and British wholesale gas prices were bit changed on Tuesday early morning as an alleviating in maintenance resulted in increased circulations from Norway. The benchmark front-month contract at the Dutch TTF center inched 0.08 euro greater to 33 euros per megawatt hour ( MWh) by 0839 GMT, according to LSEG information. In the British market, the day-ahead agreement was 0.25 pence lower at 78.50 p/therm. On the positive side, some of the Norwegian properties are back online which has increased the output substantially compared to yesterday, experts at Auxilione said in a daily research note....

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...

Climate Change

Gas manufacturer Qatar sells $2.5 bln in green dollar bonds, IFR says

Major gas manufacturer Qatar has actually introduced a $2.5 billion two-part green bond, set income news service IFR stated on Tuesday. The Gulf Arab state has actually offered $1.0 billion in a five-year tranche at 30 basis points (bps) over U.S. Treasuries (UST) and $ 1.5 billion in 10-year bonds at 40 bps over the very same benchmark, the IFR report said. The price was tightened from initial guidance of 70 basis points over UST for five-year bonds and from 80 bps for the 10-year note after combined orders topped $10.9 billion. It is the Gulf Arab state's very first...