US LNG Exports Fall in June Amidst Maintenance
U.S. liquefied natural gas exports fell to their second lowest monthly level for the year in June, as maintenance work at some of the country's largest export facilities hurt output, according to preliminary data from financial firm LSEG.The United States, the world's top exporter of LNG, sold 8.4 million metric tons of the superchilled gas during the month, down from 8.9 MT in May and well below April's record of 9.3 MT, LSEG data showed.The reduction in LNG exports was primarily due to seasonal maintenance, including at Cheniere's 4.5 billion…
Indonesia is looking for new technologies to improve oil drilling
Officials said that Indonesia issued a new regulation on Tuesday to encourage investment by oil drilling technology providers to increase production at existing wells. Yuliot Tajung, the deputy energy minister, told reporters that this policy aims to reactivate idle wells as part of an effort to increase oil production to one million barrels per daily (bpd) by 2029-2030, from less than 600,000. Indonesia, once a net oil and gas exporter, has seen its production steadily decline over the last decade due to ageing of wells and lack of investment. Under his leadership, President Prabowo subianto wants to achieve energy independence.
Canada exports first LNG cargo from Pacific Coast
A spokesperson for Shell-led LNG Canada confirmed on Monday that Canada's first LNG export cargo was shipped from its Pacific Coast to Asia. The cargo was loaded on the tanker Gaslog Glasgow at LNG Canada's Kitimat site, British Columbia. This happened just over a weeks after the facility had confirmed its first production. It became the first large commercial LNG operation of the country. LNG Canada is North America's first major LNG plant with direct access to Pacific Coast. The project comes at a moment when tensions over trade with the United States are increasing Canada's desire for diversification of its export markets.
As Wars Rage, Middle East's Waning Influence on World Oil Prices Exposed
The contained move in oil prices during the Israel-Iran war highlights the increasing efficiency of energy markets and fundamental changes to global crude supply, suggesting that Middle East politics will no longer be the dominant force in oil markets they once were.The jump in oil prices following Israel's surprise attack on Iran was meaningful but relatively modest considering the high stakes involved in the conflict between the Middle East rivals.Benchmark Brent crude prices, often considered a gauge for geopolitical risk, rose from below $70 a barrel on June 12…
Energy Transfer to Supply Chevron With Additional LNG
Pipeline operator Energy Transfer said on Wednesday it will supply U.S. oil major Chevron with an additional 1 million tonnes per annum (mtpa) of liquefied natural gas from its Lake Charles LNG export facility.The 20-year agreement brings the total volume of LNG supply contracted by Chevron to 3 mtpa, following the initial 2 mtpa agreement signed last year.Commercial activity within the sector has gained momentum in the U.S., the world's largest LNG exporter, after President Donald Trump lifted a moratorium on new LNG export permits soon after…
Congo extends its cobalt export prohibition by three months
A regulatory agency announced on Saturday that the Democratic Republic of Congo had extended its ban on cobalt exports by another three months to reduce oversupply of this material for electric vehicle batteries. In February, the world's largest cobalt exporter suspended exports for four months after prices fell to a nine-year-low of $10 per pound. The ban was set to expire Sunday. The Authority for the Regulation and Control of Strategic Mineral Substances' Markets' (ARECOMS), in a press release, said that the decision to extend the suspension was made due to the high stock levels on the market.
Analysts say that the Vaca Muerta shale is a major factor in Argentina's move towards energy independence.
Rystad Energy analysts stated on Tuesday that the shale gas formation of Vaca Muerta in Argentina will produce a large amount of oil and gas by the first quarter 2025, which is driving the nation to achieve energy independence and its ambitious plans to become a major exporter for liquefied gas. Vaca Muerta is a huge unconventional oil reserve that Argentina needs to boost its economy and reduce costly imports. Rystad estimates show that oil production in Argentina increased by 26% on an annual basis to over 447,000 barrels a day in March. Rystad reported that new drilling was only marginally up, in part because existing pipelines could not handle the additional volume.
Qatari Output at Gas Field Shared With Iran Is Steady
Qatar's gas production at the South Pars field is steady and supply is proceeding normally, it said on Tuesday, after the world's largest gas field was hit by an Israeli airstrike on Saturday, prompting Iran to partially suspend its production.Qatar, the world's third-biggest liquefied natural gas exporter after the U.S. and Australia, shares the South Pars gas field with Iran."So far, gas supplies are proceeding normally. However, the ill-advised targeting raises concerns for everyone regarding gas supplies," Qatar foreign ministry spokesperson Majed Al-Ansari said."This is a reckless move ...
Conflict affects Iranian and Israeli energy sites
The military strikes between Iran & Israel have raised concerns about possible damage to oil and gas infrastructure and fields in the region. Here are some details on these sites, and how they have affected them so far. Israel attacked an installation in the South Pars offshore field where Iran had partially suspended production on June 14. South Pars is a part of the world's largest gas reserves, which Iran shares jointly with Qatar. Around 200 km from Qatar, the attack targeted four units in Phase 14 of South Pars. Many of these are joint ventures between international companies, such as ExxonMobil, ConocoPhilips and other U.S. firms.
Qatar confirms that its gas production at the field shared with Iran has remained steady following Israeli strikes
Qatar announced on Tuesday that its gas production is stable and the supply is proceeding as normal, following Israel's Saturday strike on the world's biggest gas field, which caused Iran to temporarily suspend its production. Qatar, which is the third largest liquefied gas exporter in the world after the U.S.A. and Australia shares the South Pars field with Iran. Iran has partially halted production on the field following an Israeli attack that caused a Saturday fire. Gas supplies have been going smoothly so far. The ill-advised target raises concern for all about gas supplies, said Majed al-Ansari, spokesperson of the Qatari foreign ministry. "This is reckless...
Petronas CEO: Company is planning to import LNG within 4-5 years
The chief executive of Malaysian state-owned energy company Petroliam Nasional said that the firm is preparing to face a scenario where the country, which is currently a major LNG exporter in the world, begins to import super-chilled fuel. Tengku Muhammad Taufik, the Chief Executive of Petronas, said that they plan to import LNG within four to five year. He made this statement at a conference press briefing. The domestic gas demand in Southeast Asia is expected to rise. Tengku Taufik said that Petronas was also working on getting a third regasification facility up and running in Malaysia. He did not say when this would happen.
TotalEnergies acquires 40 offshore US blocks operated by Chevron
PARIS, 16 June - French oil giant TotalEnergies announced on Monday that it had acquired a 25 percent interest in 40 federal exploration leases operated by Chevron in the Gulf of Mexico. The outer continental shelf leases consist of 13 blocks located in Walker Ridge, 9 blocks within the Mississippi Canyon region and 18 blocks situated in East Breaks. The company stated that the acquisitions would help it achieve its goal of increasing production of low cost, low emission oil and gas by 3 percent annually until 2030. Total has already acquired minority stakes in Chevron's four Gulf of Mexico offshore oil and natural gas fields.
Overview of Iran's major gas fields and oil infrastructure
Israel attacked an installation in Iran's South Pars Gas Field on Saturday. This was the first attack against Iran's oil-and-gas sector, as part of a long-term operation that the Israeli government warned would take place to stop Tehran from developing an atomic bomb. Iran has temporarily suspended gas production at the South Pars Field, Iran's share of the world's biggest natural gas reserve. The field is located beneath the Gulf, and it's shared with Qatar, a major gas exporter. Iran reported that Israel had also attacked a fuel depot in Tehran and an oil refinery close to the capital, but the authorities claimed the situation was now under control.
Overview of Iran's major gas fields and oil infrastructure
Israel attacked an installation in Iran's South Pars Gas Field on Saturday. This was the first attack against Iran's oil-and-gas sector, as part of a long-term operation that the Israeli government warned would take place to stop Tehran from developing an atomic bomb. Iran has temporarily suspended gas production at the South Pars Field, Iran's share of the world's biggest natural gas reserve. The field is located beneath the Gulf, and it's shared with Qatar, a major gas exporter. Iran reported that Israel had also attacked a fuel depot in Tehran and an oil refinery close to the capital, but the authorities claimed the situation was now under control.
Venture Global withdraws its application to build Delta LNG Plant, according to a filing
Venture Global has asked U.S. regulators to withdraw their application for the proposed 24 million tons per year Delta LNG export facility to be built in Louisiana. The company said it could build its proposed Plaquemines project faster. Venture Global, the second-largest U.S. exporter of liquefied gas, has built new LNG plants faster than any other company. This is because they manufacture modular parts outside the U.S. before assembling them on site. Venture Global stated in a Tuesday filing to the Federal Energy Regulatory Commission that pursuing the Delta LNG Project was not the best use for its corporate resources.
TSMC claims tariffs may have an impact on AI demand, but TSMC believes that the impact is minimal.
The U.S. Tariffs have some impact, but the demand for Artificial Intelligence (AI) is still strong and continues to exceed supply. This was stated by the CEO of Taiwanese Chipmaker TSMC on Tuesday. The trade policies of U.S. president Donald Trump have caused much uncertainty in the global chip market and TSMC. TSMC is the leading producer of advanced semiconductors, whose customers include Apple. C.C. Wei said that the tariff uncertainty has not affected the behaviour of customers. The situation could become clearer over the next few months. "Tariffs have an impact on TSMC but not directly. This is because tariffs are only imposed on importers and not exporters.
Trinidad and Tobago Increases LNG Production in May at Atlantic Facility
Exports of liquefied natural gas from Trinidad and Tobago's flagship Atlantic LNG export facility increased by 43% in May compared to April, according to LSEG preliminary ship tracking data.Trinidad is Latin America's largest LNG exporter and its flagship plant, Atlantic LNG, is jointly owned by Shell and BP with a capacity to produce 12 million metric tons per annum (mtpa) of the superchilled gas.In May Atlantic exported 0.83 mtpa of LNG, up from 0.58 MT in April, LSEG data showed.Similar to the U.S., Europe bought the majority of cargoes sold by Atlantic, while the rest went to Asia and Latin America.BP has made Trinidad and Tobago one of its focus areas for growth of its up
South Africa offers to buy US LNG in order to seek trade deals
According to a statement on the website of the South African government's news agency, South Africa offered to purchase liquefied gas from the United States for a period of 10 years as part proposals to secure a deal. The document signed by Minister of the Presidency Khumbudzo Ntshavheni, and posted on Sunday night, stated that South Africa intends to import 75-100 petajoules (roughly 75 to 100 millions cubic feet) of LNG from the United States each year, which is the world's largest LNG exporter. The Minister said this would "unlock about $900 million to $1 billion in trade annually and $9 billion – $12 billion over 10 years, based on the applicable price".
NextDecade, JERA Sign 20-Year LNG Supply Deal
U.S. liquefied natural gas producer NextDecade said on Thursday it had signed a 20-year deal to supply Japan's biggest power generator JERA with 2 million tonnes per annum of LNG from its Rio Grande project's fifth liquefaction facility.Shares of NextDecade were up 5.5% at $8.11 in early trading.The United States is the world's largest exporter of LNG, shipping 11.9 billion cubic feet per day of the supercooled fuel in 2024, and has gained further momentum following President Donald Trump's lifting in January of a moratorium on new export permits.NextDecade's deal with JERA…
Sources say that the natural gas flow to Freeport LNG Export Plant in Texas has dropped Wednesday.
Two sources reported that the natural gas flow to an export facility for liquefied gas in Texas, Freeport, decreased on Wednesday. This likely led to a decrease in LNG production, they said. Freeport, the third-largest LNG export facility in the U.S., has helped to keep the U.S. as the largest exporter worldwide of supercooled gas. The start-up and shutdown of this LNG export plant can cause major price fluctuations on global gas markets. It can consume 2.2 billion cubic foot of gas each day and produce 16.3 millions metric tons of LNG per year (mtpa). Gas prices in the U.S. typically drop when flows to Freeport decrease due to a lower demand for fuel from the plant.
