Natural Gas Utilities








Asia

North America

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...

Natural Gas Utilities

Tokyo Gas seeks more US gas assets, president says

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...

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...

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...

Oil & Gas Transportation

EUROPE GAS-Prices mainly lower on Norwegian flows, wind output

LONDON, May 28 - Dutch and British wholesale gas rates mostly decreased on Tuesday early morning on higher Norwegian exports and above-normal wind power output. The benchmark front-month contract at the Dutch TTF center was down 1.43 euros at 33.80 euros per megawatt hour (MWh) at 0755 GMT, according to LSEG information. The July agreement was down 1.00 euro at 34.10 euros/MWh, while the British month-ahead agreement inched down by 0.45 pence to 81.60 cent per therm. Circulations from Norway are rebounding following outages and the existing upkeep schedule from the start of June will have a. negligible impact from...

Natural Gas Utilities

India's Adani Enterprises recuperates to pre-Hindenburg levels

Shares of Adani Enterprises on Friday bounced back to levels last seen in January 2023, before a report by U.S. shortseller Hindenburg Research triggered a selloff in billionaire Gautam Adani's. portstopower conglomerate. Shares of the Adani group's flagship company increased as much as. 2.1% to 3,457.85 rupees. The stock had actually closed at 3,442 rupees on. Jan. 24, 2023, the session before Hindenburg in a report accused. the group of stock manipulation and incorrect use of tax sanctuaries. The group, which refuted the accusations, suffered a loss of. as much as $150 billion in combined market price, as the. short-seller's...

Oil & Gas Exploration

Equinor to enhance Troll gas output with $1.1 bln investment

Equinor and its partners in the North Sea Troll gas field, Europe's largest, will invest 12 billion Norwegian crowns ($ 1.13 billion) to further increase production, the Norwegian energy business said on Friday. Norway is already Europe's largest supplier of natural gas after a sharp decrease in Russian deliveries because the start of the war in Ukraine in 2022. The gas from Troll alone fulfills around 10% of Europe's. demands, Equinor's head of exploration and production in Norway. Kjetil Hove said in a statement. This is an extremely profitable task that will protect high. gas production from the Troll field,...

Oil & Gas Equipment

Guyana might reallocate gas areas if Exxon does stagnate job forward

An Exxon Mobilled oil consortium might need to choose by October whether it will proceed and establish a. large gas find off the coast of Guyana, the nation's. vice president stated on Thursday. The federal government has been pressing for a gold mine from mostly. untapped gas reserves discovered by the Exxon-led group. The. consortium, that includes Hess Corp and CNOOC Ltd. , is required under its production contract to return. to the federal government by October about 20% of its huge Stabroek. block if that location remains undeveloped. Exxon has said it wishes to complete an appraisal of the...

Oil & Gas Transportation

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

Gas streaming to Freeport LNG's. export plant in Texas was on track to hit a fivemonth high up on. Friday, LSEG information revealed, with a liquefaction train expected to. return from a quick upset on Thursday. The startup and shutdown of Freeport and other U.S. liquefied natural gas (LNG) export plants typically has a significant. impact on international gas costs. U.S. gas futures at the Henry Hub standard in. Louisiana have skyrocketed by around 59% over the previous 3 weeks,. due in part to the boost in feedgas at Freeport after it. left a failure in late April. U.S. gas...

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...

Fossil Fuels

US Mountain Valley passes test after fixing leak in WV-VA natgas pipe

U.S. natural gas pipeline endeavor Mountain Valley Pipeline stated on Friday it repaired a segment of pipeline that stopped working a water test earlier in the month and will continue to prepare the longdelayed West VirginiaVirginia pipe for service. The endeavor was on track to finish the $7.85 billion project by the end of May, U.S. energy company Equitrans Midstream , the lead partner in the Mountain Valley venture, stated in late April. Mountain Valley continues to expect to complete building and construction and last commissioning activities on or about May 31, 2024, an Equitrans representative said. Mountain Valley made...

Natural Gas Utilities

Duke Energy first-quarter profit beats as domestic customers rise

Duke Energy beat Wall Street quotes for firstquarter profit on Tuesday on higher electrical energy rates as the utility saw increasing property and business consumer need in its U.S. sunbelt service area, executives with the company said on Tuesday. Duke's customer base grew 2.4% in both the Carolinas and Florida in the very first three months of the year compared to the very same duration in 2023, while the company's overall industrial and industrial load grew 1%, driven mainly by information center organizations, executives stated. Electric lorries, manufacturing and data centers supporting artificial intelligence innovation is anticipated to increase electricity...

Europe

Oil & Gas

S&P cuts Eni's outlook to negative, affirms ratings

Credit ranking firm S&P said on Tuesday it cut the outlook on Italy's Eni health club to ' unfavorable' from 'steady' while it verified the energy business's. ratings 'A' and 'A2'. A mix of elevated investments, lower cashflow. generation due to moderating natural gas rates, and stable. investor distributions will likely lead to Eni's funds from. operations (FFO) to financial obligation falling to around 45% in 2024-2025,. which is below our expectations for current market conditions,. the credit score company stated in a statement. The credit ranking agency said that it anticipated Eni's credit. situation to start improving from 2026,...

Oil & Gas Refining

EUROPE GAS-EU standard contract at six-month high up on Norwegian unplanned outage

European gas costs jumped to a sixmonth high on Monday after Norway's gas exports to Europe fell sharply as a shutdown of the offshore Sleipner hub halted operations at the Nyhamna onshore processing plant. The benchmark front-month contract at the Dutch TTF hub rose by 2.57 euros to 37.17 euros per megawatt hour ( MWh) by 1443 GMT, its highest intraday level given that early December, while the August agreement included 2.35 euros to 37.15 euros/MWh, according to LSEG information. In the British market, the day-ahead agreement was up 8.25 pence at 91.75 cent per therm and the July agreement...

Natural Gas Utilities

Norway interruption presses European gas prices to highest this year

Norway's gas exports to Europe fell dramatically on Monday as a shutdown of the overseas Sleipner hub halted operations at the Nyhamna onshore processing plant, pipeline operator Gassco said, lifting European costs to their highest level this year. The failure was brought on by a fracture found in a two-inch pipeline onboard Norway's overseas Sleipner Riser platform, the company stated. It was not yet known the length of time this will require to repair work, however the situation is ruled out unsafe, it added. This has big effects from a supply perspective, Alfred Hansen, head of pipeline system operations at...

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

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...

Energy Markets

ADNOC makes 4th gas foray abroad with Mozambique offer

Abu Dhabi National Oil Business ( ADNOC) has bought Galp's 10% stake in the Area 4 concession of the multibilliondollar gas job in Mozambique's Rovuma basin, its fourth worldwide foray into gas. The deal ADNOC revealed on Wednesday comes hot on the heels of it acquiring an 11.7% stake in NextDecade's Rio Grande liquefied gas (LNG) export facility in Texas, confirmed on Monday. ADNOC has big aspirations in gas and LNG, which in addition to renewable energy and petrochemicals, it views as pillars for its future development. It plans to grow its 6 million metric heaps per annum (mtpa) LNG...

Natural Gas Utilities

Indonesia desires Mubadala to accelerate South Andaman gas advancement

Indonesia will ask Mubadala Energy to accelerate gas advancement in Indonesia's. South Andaman Block after the United Arab Emirates explorer made. a 2nd discovery there, Dwi Soetjipto, chairman of upstream. regulator SKK Migas, stated on Tuesday. The federal government hopes gas production could begin in 2028, Dwi. told reporters on the sidelines of the Indonesia Petroleum. Association conference. Indonesia's oil and gas production has declined sharply in. the previous several years due to a lack of investment. Jakarta is. eager to reverse the pattern, targeting output of one million. barrels of oil and 12 billion standard cubic feet daily of...

Fossil Fuels

Iran, Pakistan seek ways to total gas pipeline job

Iran and Pakistan are looking at methods to finish a longdelayed gas pipeline project between the 2 countries, Iran's Consul General to Pakistan, Hassan Nourian, stated on Monday. We see political determination from Pakistan to complete the project, he told press reporters in the southern city of Karachi. The nations signed a contract to construct the pipeline from Iran's South Fars gas field to Pakistan's Balochistan and Sindh provinces in 2010, however work on Pakistan's portion has actually been held up due to fears of U.S. sanctions. The 1,900 kilometre (1,180 mile) pipeline was indicated to supply 750 million to...

Oil & Gas Exploration

Cyprus seeks enhancements to Chevron-led plans for overseas gas field

Cyprus said on Thursday it wished to see enhancements to Chevronled plans to extract gas from an overseas field, giving the consortium led by the U.S. major six months to meet its requirements. There have been protracted talks on the future advancement of the Aphrodite field south-east of Cyprus since Chevron tried to introduce modifications to a 2019 field advancement strategy. That strategy had actually been concurred between Cyprus and licence-holder Noble, an independent energy operator Chevron obtained in 2020. A brand-new field advancement proposition was sent by Chevron on March 29. Following a mindful evaluation, and with advisors of...

Natural Gas

TotalEnergies eyes conclusion of first stage of solar, gas jobs in 2025, says Iraq

TotalEnergies aims to complete the first stages of a solar energy task and an associated gas project in 2025, the Iraqi prime minister's. office stated in a statement, pointing out the business's chief executive. Patrick Pouyanne. The first phase of the gas job in southern Iraq is. expected to at first produce 50 million cubic feet a day. ( mcf/d) within the next year, the prime minister's office said. Iraq looks for to produce much-needed natural gas for power. stations and cut imports that put a problem the nation's budget plan. The OPEC manufacturer currently relies greatly on Iranian gas....

Natural Gas Liquids

Asia area LNG at fresh three-month high up on supply concerns

Asian area liquefied natural gas (LNG) rates rose this week to a new threemonth high due to supply issues amid tensions in the Middle East and a drop in feedgas shipments to 2 LNG terminals in the United States. The typical LNG rate for June shipment into north-east Asia increased to $10.50 per million British thermal systems ( mmBtu), its highest since Jan. 12, industry sources estimated. Costs hit a 15-week high previously this week, a little going beyond $11.00/ mmBtu, tracking gains in European gas markets, but have actually softened ever since. Spot gas prices have been strong over...

Energy Markets

Spain energy minister: early to state if state will take stake in Naturgy

Spain's Energy Minister Teresa Ribera stated on Thursday that it was still to early for the federal government to evaluate a potential stake in Spanish energy firm Naturgy in view of a possible takeover quote by Abu Dhabi's TAQA. TAQA verified on Wednesday it is in conversations with the three largest shareholders of Naturgy which could cause a. possible full takeover bid for the largest natural gas company in. Spain. As such, the federal government will have a say on any. acquisition. Naturgy and has essential agreements with Algeria and also a. long-lasting agreement to import some 3 billion cubic...