ARM Energy to Invest $2.3b in Mustang Express Pipeline
ARM Energy Holdings said on Thursday it has reached a final investment decision on its $2.3 billion Mustang Express Pipeline project in Texas, along with its partner Pacific Investment Management Company.ARM, an energy marketing firm, said the project benefits from a long-term agreement with Sempra for shipment of natural gas for its Port Arthur LNG Phase 2 project, which recently achieved its own final investment decision.Earlier this month, Sempra said it would sell a 45% stake in its infrastructure unit for $10 billion, and has approved a $14 billion expansion of Port Arthur LNG project in Texas.The U.S.
Molgas Acquires Titan LNG Bunker Supplies
Spain’s Molgas has fully acquired Dutch liquefied natural gas bunker supplier Titan, following its acquisition of a 45% stake in 2023, the company said on Tuesday.LNG bunkering demand has been rising in recent years with the introduction of hundreds of ships that can run on the fuel, as the shipping industry ramps up efforts to decarbonise by 2050 in line with International Maritime Organization targets.Molgas, backed by French private equity firm InfraVia, will merge its truck-to-ship LNG supply in Norway and Europe with Titan’s LNG bunker supply, the company said.With the acquisition, Molgas now operates a fleet of seven LNG bunker vessels, it a
US Natural Gas Prices Rise as LNG Exports Increase
U.S. natural gas futures climbed about 2% on Monday on near-record flows to liquefied natural gas (LNG) export plants and forecasts for more demand this week than previously expected.Front-month gas futures for November delivery on the New York Mercantile Exchange (NYMEX) rose 6.7 cents, or 2.0%, to $3.391 per million British thermal units (mmBtu) at 8:42 a.m. EDT (1242 GMT).In the cash market, average prices at the Waha Hub in West Texas, which fell to a record low of minus $7.07 per mmBtu on Thursday, remained in negative…
French LNG Supply Still Disrupted by Strike
Workers at French LNG terminals will continue to block ships from discharging until their salary demands are met, two representatives with the CGT union said on Friday.The blockade at three out of four of the country's terminals has reduced gas outflows from one of Europe's top gas buyers and lifted prices this week.LNG terminal operator Elengy has invoked force majeure at its three sites in France because of the month-long strikes and said no ships can discharge until October 2.Reduced deliveries from French LNG terminals contributed to a 1.3% rise in the price of the Dutch TTF front-month benchmark European gas contract on Thursday…
US-Sanctioned Tanker Carries Fuel Along North Sea Route
A tanker under U.S.
Sempra Sells 45% Stake in Infrastructure Unit, Approves Port Arthur LNG Expansion
Sempra said on Tuesday it would sell a 45% stake in its infrastructure unit for $10 billion, and has approved a $14 billion expansion of Port Arthur LNG project in Texas, sending the utility's shares to their highest in nearly seven months.The stake sale to KKR, along with Canada Pension Plan Investment Board, implies an equity value of $22.2 billion for Sempra Infrastructure Partners, which houses liquefied natural gas assets and related pipeline and storage infrastructure.A KKR-led consortium will hold 65% of the unit…
German LNG Terminals Seek to Replace Russian Gas Pipelines
Germany is putting into operation natural gas import terminals as part of efforts to replace piped Russian gas following Moscow's invasion of Ukraine in 2022.Its first move has been to deploy floating storage regasification units (FSRUs) to receive seaborne LNG, while long-term it is planning shore-based facilities to import and produce ammonia and green hydrogen.Here are details of the latest developments:MUKRANThe terminal on Ruegen island in the Baltic Sea, operated by private firm Deutsche ReGas, supplies onshore grids with LNG from pipeline firm Gascade's link OAL, via the Neptune vessel operated by Norway's Hoegh Evi.It wants to restart a se
Italy to Help Sardinia Phase Out Coal with New LNG Plants
Italy plans to send two new units for the regasification of liquefied natural gas (LNG) to Sardinia to help the island phase out coal, a government decree seen by Reuters showed.Sardinia currently relies on two coal-fired power plants for its electricity needs and is slowly developing renewable energy capacity.The government has mandated Italy's gas grid operator Snam to set up a new floating storage and regasification unit (FSRU) in the port of Oristano, on the centre-west coast of Sardinia, the decree seen by Reuters said.The document approved by the government on Friday also mentioned the possibility of a second LNG terminal in the north-west c
Third Russian Tanker from Sanctioned Arctic LNG 2 Discharges and Departs China
A third tanker from Russia's Arctic LNG 2 plant, which is under Western sanctions, discharged its cargo and exited a terminal in China on Wednesday, LSEG and Kpler's ship-tracking data showed.The U.S.-sanctioned LNG tanker Zarya unloaded more than 160,000 cubic meters of LNG from the sanctioned Russian project Arctic LNG 2 at the Beihai LNG Terminal in Guangxi, southern China.China has so far received three cargoes of LNG from Arctic LNG 2, totalling more than 386,000 cubic meters of LNG, according to data from LSEG.Two more Arctic LNG 2 cargoes are a few days away from Beihai, on the 174,000 cbm Buran and the 174,000 cbm Iris.