Venture Global and Tokyo Gas Sign 20-year LNG Supply Deal
Venture Global, a U.S. LNG exporter, has signed a deal for Tokyo Gas to receive 1 million metric tonnes per year (mtpa), starting in 2030. Venture Global has now signed its fourth long-term LNG contract with a Japanese firm. The U.S.-based company announced in a Wednesday statement that it had signed LNG long-term contracts totaling 7.75 mtpa over the past six months. This move shows that Japan is increasing its energy purchases from the United States, while President Donald Trump pushes for increased U.S. exports of LNG to support domestic producers as well as improve trade balances with Japan.
Sources claim that Fedun, the co-founder of Lukoil, has sold his stake to the company.
Three sources and data show that Leonid Fedun sold his $7 billion stake in Lukoil. This marked the end of a 30-year journey which made Lukoil an international force, but saw it recently shrinking rapidly under sanctions. Lukoil, which had avoided Western sanctions for months over Russia's invasion in Ukraine, was severely hit by Western sanctions and now is selling its foreign assets. Analysts have long suggested that the company could be a target for Rosneft - a state-controlled competitor, which is now also subject to Western sanctions.
Woodside and East Timor target first LNG from Greater Sunrise by 2032
East Timor and Australia's Woodside Energy have agreed to investigate sending gas from large, undeveloped Greater Sunrise field to a new plant that will produce liquefied gas in Southeast Asia. The plant could begin exporting gas in seven years. In a Tuesday joint statement, Woodside and East Timor’s Petroleum and Mineral Resources Ministry said that the agreement requires the two parties to examine the commercial and technological viability of a 5 million-metric-ton LNG project. The plan is to begin production as soon as 2032-2035.
Woodside and East Timor target first LNG from Greater Sunrise by 2032
East Timor and Australia's Woodside Energy have agreed to investigate sending gas from large, undeveloped Greater Sunrise field to a new plant that will produce liquefied gas in Southeast Asia. The plant could begin exporting gas in seven years. In a Tuesday joint statement, Woodside and East Timor’s Petroleum and Mineral Resources Ministry said that the agreement requires the two parties to examine the commercial and technological viability of a 5 million-metric-ton LNG project. The plan is to begin production as soon as 2032-2035. This is the first time that the two sides have given a possible start date.
Russell: COP30 agreement is not important in the battle between renewables and fossil fuels.
It was not realistic to expect anything better from the COP30 Climate Summit than a weak statement that omitted all mention of fossil fuels. It was never going to be easy to bring nearly 200 countries together with vastly different perspectives and make a statement of commitment to fight climate change. After the Belem summit, the question that needs to be asked is, does what the final statement says and doesn't state, really matter? Imagine that environmentalists have won their case with a communique…
Russell: COP30 agreement is not important in the battle between renewables and fossil fuels.
It was not realistic to expect anything better from the COP30 Climate Summit than a weak statement that omitted all mention of fossil fuels. It was never going to be easy to bring nearly 200 countries together with vastly different perspectives and make a statement of commitment to fight climate change. After the Belem summit, the question that needs to be asked is, does what the final statement says and doesn't state, really matter? Imagine that environmentalists have won their case with a communique…
US Natural Gas Futures Ease 1% on Ample Gas in Storage
U.S. natural gas futures eased about 1% on Thursday on near-record output and ample amounts of gas in storage despite near-historic flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher demand over the next two weeks than previously expected.The price decline also came despite a federal storage report that showed energy firms pulled gas out of storage for the first time this winter during last week's cold weather.Front-month gas futures for December delivery on the New York Mercantile Exchange fell 3.7 cents…
US Natural Gas Futures Climb 4% with LNG Flows, Cold December Forecast
U.S. natural gas futures climbed about 4% on Wednesday on near-record flows to liquefied natural gas export plants and forecasts for higher demand than previously expected as the weather turns colder than normal going into December.Front-month gas futures for December delivery on the New York Mercantile Exchange rose 17.9 cents, or 4.1%, to settle at $4.550 per million British thermal units (mmBtu).LSEG said average gas output in the Lower 48 states rose to 109.1 billion cubic feet per day (bcfd) so far in November…
INSIGHT- West scrambles fill the heavy rare earth gap, as China rivalry intensifies
Western efforts to create a domestic magnets supply chain in order to reduce their reliance on China, led by the massive U.S. support for Nevada-based MP Materials, are running into a major problem: a scarcity of heavy rare earth elements. United States and its allies are scrambling to find an alternative supply chain for super-strong rare earth magnetic components, which are essential in everything from electric vehicles and defence technology to electronics and windmills. MP Materials has ambitious plans for producing magnets in the next few years. This is backed by a deal signed with the U.S.
Australian shares are on the rise as sectoral strength offsets the banking slump
Australian shares traded within a narrow range Wednesday as investors held back their risk appetite due to waning expectations for additional monetary policy ease. S&P/ASX 200 index remained at 8,474.50 as of 2320 GMT but is still down about 7% from its all-time high reached on October 21. The benchmark index ended Tuesday at a low of five months. Since the Reserve Bank of Australia held interest rates constant earlier this month, the main index has been in a downward trend. A positive jobs report…
ConocoPhillips finds gas off Australia
ConocoPhillips, the oil giant, announced on Monday that it had discovered gas off of the coasts of southeast Australia. The company began its first exploration drilling in November. Two targets located off the coasts of Victoria were identified by wireline logs. The work will continue for another two weeks, before the second exploration well is drilled to confirm that there are large gas reserves in Australia's east-coast market. Jan-Arne Johannsen, the country president of the company, said that the discovery was encouraging, and it was the first to be made in the area in four years. The U.S.
How much will the price of ROI-LNG drop by 2026? Russell
The market for liquefied gas is bracing itself for an increase in supply, mostly from the top exporter, the United States. However, it is not clear how low the spot price will need to fall to clear these additional volumes. According to commodity analysts Kpler, the global supply of super-chilled gasoline is forecast to reach 475 million metric tonnes in 2026. This represents a 10.2% increase over the 431 millions tons predicted for 2025. This figure is comparable to South Korea's total annual demand, which is the third largest LNG importer in the world behind China and Japan.
Inpex Japan raises its annual profit forecast due to lower costs
Inpex, Japan's largest oil and gas exploration company, raised its net profit forecast by 5% for the year on Thursday. Lower-than-expected expenses offset a reduced shipment of its Ichthys project in Australia because of maintenance. The company expects a net profit of $3.65 billion in 2025. This is up from the August forecast of $3.65 billion. It also exceeds analysts' estimates of 370.9 billion yen, according to an LSEG survey. The net profit from January to the end of September increased by 1.4% over the previous year, reaching a new record of 293.4 billion yen.
Australia shares are up as lithium miners shine but tech stocks hold gains.
The benchmark index of Australian shares rose a little bit on Wednesday, as lithium stocks led the rally in commodities stocks. A slump in technology stocks dampened the gains. By 2352 GMT, the S&P/ASX 200 Index rose by 0.2% to 8,836.90. The benchmark index ended Tuesday 0.2% lower. Copper prices have pushed domestic miners to their highest levels since October 22. Mineral Resources, a lithium miner, also gave the sub-index a boost. Its stock rose 10.8% and reached its highest level since 10 October 2024. The miner signed a deal to sell 30% of its operational lithium business to South Korea's POSCO.
Australian shares increase as resources improve, ANZ rebounds
Australian shares rose on Monday. Resources stocks gained due to higher underlying prices, and the lender ANZ Group recovered from its early losses despite reporting a decline in annual cash profits. As of 2321 GMT, the S&P/ASX 200 was up 0.3% to 8,799.50. The benchmark index ended Friday 0.7% lower. Andrew Hauser, Deputy Governor of the Reserve Bank of Australia, said that the country's monetary policies are facing an unusually difficult challenge. He stressed the importance of maintaining a tight policy to control inflation, which, according to projections, will remain above the target level until mid-2026.
AGL sells most of its Tilt stakes to QIC Future Fund for $487 Million
AGL Energy, Australia has agreed to sell 19,9% of its 20% stake to Tilt Renewables' clean energy developer for A$750m ($487.35m) to vehicles led Queensland Investment Corp and Australia's sovereign Future Fund. The goal is to free up capital that can be invested in fast-starting energy projects and batteries, which will support the grid if renewable production drops. AGL shares rose 2.8% in early trading to A$9.17, a new one-week high. This outperformed a slight 0.2% increase in the benchmark index.
Maguire: Clean energy push in Australia reaches pivotal milestone for energy transition
Last month, Australian utilities produced more electricity using clean energy sources than fossil fuels. This was a first for one of the top coal and natural gas exporters in the world. Data from the energy think tank Ember show that in October, utility-supplied electricity from clean sources reached 9.88 terawatts hours (TWh), which was higher than the 9.82 TWh produced by fossil fuels. The breakthrough in the energy mix is a result of a 77% increase in Australia's clean electricity output compared to five years ago as well as a reduction of 15% in fossil fuel consumption over that time period.
ConocoPhillips launches natural gas drilling offshore eastern Australia
ConocoPhillips, a U.S.-based independent company, has begun drilling its first exploration hole as part of a larger campaign to search for natural gas off the eastern Australian coast, 3D Energi its junior partner said on Monday. 3D Energi announced in a filing with the ASX that work began on the Essington-1 oil well over the weekend. It will take 32 days for the drilling to reach 2,650 metres (8.694 feet). The company stated that this is the first well in the Otway Exploration Drilling Program for the development of new gas for Australia’s eastern domestic market.
AGL Australia to reduce jobs as part of Clean Energy Push
AGL, Australia's largest energy producer, announced on Friday that it would cut jobs in order to transition towards cleaner energy. It also plans to close its coal-fired plants by the mid-2030s. A spokesperson for AGL said: "We need to make sure that our current business is productive and competitive on this market, while continuing to invest in the business of tomorrow. The Australian newspaper reported that the total number of roles cut could reach 300. A spokesperson for AGL did not specify how many of the 4,200 total jobs that AGL employs would be eliminated.
Origin Energy, Australia, reports a 12% decline in APLNG revenue for the first quarter.
Origin Energy, Australia's largest energy company, reported a 12% drop in revenue from its Australia Pacific LNG stake for the first three months of the year. The fall was attributed to lower LNG prices and volumes. The power producer reported revenues from the APLNG joint venture -- a joint project with U.S. oil major ConocoPhillips, and China's State-owned Sinopec — of A$482 ($313.20) million for the three-month period ended September 30 compared to A$547 in the previous quarter. Prices for liquefied natural gases fell to multi-week lows during the third quarter due to a lackluster demand in Asia…