QatarEnergy leases 10 LNG tankers amid a production halt and soaring shipping costs, according to sources
QatarEnergy offers 10 liquefied 'natural gas' tankers to lease, according to two industry sources. This comes after the 'world’s second largest?LNG - exporter announced a halt in production at its 77 mtpa facility, and shipping rates soared as the U.S. - Iran conflict entered its second week. Qatari Energy Minister Saad Al-Kaabi told the Financial Times that it would still take weeks or months to resume normal deliveries even if the conflict ended today. The company declared force majeure for LNG shipments Wednesday. The production stoppage has increased competition between the Atlantic and Pacific basins in terms of LNG cargoes.
BP wants at least $3.7 Billion from Venture Global arbitration, a filing states
Venture Global's yearly report shows that BP wants at least $3.7billion from its arbitration victory against?Venture Global, in a case involving liquefied?gas (LNG). According to the report released this week, BP is seeking a range of'remedies', including damages ranging between $3.7 billion and potentially exceeding $6.0 billion as well as costs, interest, and attorney fees. BP declined to comment. A Venture Global spokesperson stated that the British 'oil majors' requested damages were "unserious" and "not supported by evidence or governing law".
Cornwall Insight predicts that Britain's energy cap will rise by about 10%.
Analysts from Cornwall Insight said on Wednesday that the UK's energy price cap will rise by about 10% this July due to an increase in wholesale prices linked to a war in Iran. The rise in energy prices would not be welcome news for the Labour government of Prime Minister KeirStarmer, who is under pressure to keep its promise to reduce household energy costs. This would also wipe out any savings from the decision to scrap the policy which forces energy providers to pay for measures like insulation and new heating systems. The British energy regulator Ofgem sets the domestic price cap using a formula that takes into account wholesale energy prices as well as network costs…
US-Israeli War on Iran Causes Major Oil, Gas Disruptions
The U.S. and Israel war against Iran has caused oil and gas exports to be disrupted from the Middle East, and production from Qatar?to Iraq was forced to stop. Here are the major energy disruptions that have occurred so far. Iraq, OPEC’s?second largest producer, has reduced?output by almost a third due to storage limitations and the absence of export routes, officials said. The country could be forced to close 3 million barrels per day, or nearly all its production, within days, if exports don't resume. QatarEnergy LNG halted operations: Qatar ceased operations at its LNG plants on Monday.
Middle East is a major source of oil and LNG globally
India and other Asian countries are most dependent on Middle East oil and gas, which makes them vulnerable to supply disruptions if the conflict that has erupted following the Israeli and U.S. attack on Iran continues. Here is an overview of the imports and stockpiles of major Middle Eastern buyers. INDIA In January, the share of Middle Eastern crude oil in India’s crude imports reached its highest level since late 2022. This is amounted to?about 2,74 million barrels a day. Refiners have reduced their intakes of Russian oil. India has enough crude and refined fuel in its inventory to cover demand for 74 days.
EUROPE GAS-European Gas Prices Close Higher on Disruption to LNG Shipments
The benchmark European wholesale gas price closed Monday around 35-40% more expensive, after major LNG exporter Qatar Energy announced that it had stopped production due to attacks in the Middle East. A cargo standstill through the Strait of Hormuz also raised concern about the length of the disruption. Qatar is soon to become the second largest LNG exporter in the world after the United States. It plays a significant role in balancing the demand for LNG on both the Asian and European market. QatarEnergy, according to a source familiar with the situation, is set declare force majeure for LNG shipments.
EUROPE GAS - European gas prices rise as Qatar stops LNG production
Benchmark Dutch and British wholesale?gas?prices rose by almost 50% Monday after a major LNG exporter, Qatar Energy, announced that it had stopped production due to the attacks in Middle East. Qatar is soon to become the second largest LNG exporter in the world after the United States. It plays a significant role in balancing the demand for LNG on both the Asian and European market. QatarEnergy, according to a source familiar with the situation, is preparing to declare force majeure for LNG shipments. Europe has been increasing its LNG imports over the last few years in order to phase out Russian Gas following Russia's invasion into Ukraine.
EUROPE GAS-European gas prices soar as Iran had conflict halts Qatar LNG output
The benchmark Dutch and British wholesale gas prices rose by nearly?50% after Qatar Energy, a major LNG exporter, announced that it had stopped production because of attacks in the Middle East. Qatar is soon to become the second largest LNG exporter in the world after the United States. It plays a significant role in balancing the demand for LNG on both the Asian and European market. Trade sources report that most tanker owners and oil majors, as well as trading houses, have stopped shipping crude oil, fuel, and liquefied gas (LNG) through the Strait of Hormuz after Tehran warned against ships moving along the waterway.
Iran's main oil, gas and infrastructure production
On Saturday, Israel and the United States launched an offensive against Iran. The attack could cause oil and gas production to be disrupted and damage the energy infrastructure in the Middle East. Iran is the third-largest oil producer in the Organization of Petroleum Exporting Countries (OPEC). It pumps 4.5% or so of world oil. Iran produces 3.3 million barrels of crude oil per day, plus another 1.3 million barrels of condensate. According to FGE, Iran's domestic refining capacity is 2.6 million barrels per day. According to Kpler's estimates, in 2025 it will export nearly 820,000 bpd, including LPG. This is slightly lower than the levels of 2024.
Cheniere Raises Share Repurchase Target After Q4 Profit Doubles
Cheniere Energy said its fourth-quarter profit more than doubled on strong liquefied natural gas (LNG) demand and the company raised its share repurchase target to more than $10 billion through 2030.Shares of the largest LNG producer in the U.S. were up 1.2% at about $223 in premarket trading on Thursday.The U.S. is the world's largest LNG exporter and had shipped 15 billion cubic feet per day (bcfpd) of the supercooled fuel last year, according to the U.S.
Cheniere increases buyback plan above $10 billion due to strong LNG demand
Cheniere Energy reported that its fourth-quarter profits more than doubled due to a?strong demand for liquefied gas (LNG). The company also raised its share repurchase goal from $10 billion until?2030. The largest LNG producer in the United States, the shares of this company are up 1.2% at $223. In premarket trading, shares of the largest?LNG producer in the?U.S. were up about 1.2% to $223. According to the U.S. Energy Information Administration, the U.S. was the largest LNG exporter in the world last year. It shipped 15 billion cubic foot per day (bcfpd), an increase of 26% from 2024.
Romgaz CEO: If acquisition proceeds, Romgaz will need more funding to complete gas project.
If the acquisition of a ailing fertilizer producer by Romgaz this year goes through, it may have to use additional funding to pay for its portion of offshore project Neptun Deep. Romgaz and OMV Petrom have teamed up to develop Neptun Deep, one of Europe's largest natural gas reserves. Both companies will share the estimated cost of 4 billion?euros ($4.72billion) for this project. Romgaz issuing euro-denominated bonds since 2024 via a programme of euro medium-term notes to finance its part of the project. However, it may need to raise more funds if the Azomures purchase goes ahead this year.
Golden Pass is moving closer to producing its first LNG by increasing natural gas flow into the facility
LSEG data show that Golden Pass, a joint venture between Exxon Mobil, QatarEnergy and Exxon Mobil, has pulled in more than 300 million cubic feet on Wednesday, bringing it closer to producing its first LNG. The '18 million metric tons per year project in Texas will be one of the biggest U.S. export facilities of super-cooled gas and help the United States maintain its position as the top exporter. Exxon CEO Darren Woods stated on January 30 that he expects the plant to begin producing LNG in March. This marks an important milestone for the project.
Caturus signs a 20-year LNG Supply Deal with Saudi Aramco
U.S. Gas Producer 'Caturus' said on Friday that its unit, Commonwealth LNG, had signed a twenty-year agreement with Saudi Aramco to supply 1,000,000 tonne per year of lNG from?its proposed Louisiana Export Project. The U.S. is working hard to surpass Qatar and Australia as the largest LNG exporter in the world. Since President Donald Trump lifted the pause on export permits last summer, commercial activity in the LNG sector has risen. Caturus CEO David Lawler said, "This agreement highlights the strong demand for U.S. LNG developers usually reach a final decision on a project once they have secured sufficient supply deals to get the financing needed for construction.
EEX invites comments on the extension of trading hours for benchmark gas contracts
The CEO of Deutsche Boerse's EEX (Europe's largest electricity and gas 'exchange) said that the company is currently in discussions with market participants about whether to extend trading hours on Europe's main gas benchmark. EEX - peer Intercontinental Exchange - announced last month that it would extend the daily trading hours of European gas and electricity contracts from 0800 CET until 1800 CET on April 13 to 0150 CET (2300 CET) (0050 GMT-2200 GMT). Peter Reitz, CEO of EEX, said that the company is "listening closely" to what the market participants have to say about the issue, and added that the feedback has been mixed. DOES THE MARKET WANT IT?
Trinidad's Atlantic LNG will shut down Train 4 to perform major maintenance
Three people familiar with the plan said that Trinidad and Tobago’s flagship 'Atlantic LNG' plans to close its 6 million metric ton per annum Train 4 in May and/or June for maintenance and repairs. Atlantic LNG is owned by Shell, BP and Trinidad's National Gas Company. Each company holds a 45% share. According to documents from the company, this facility will account for?roughly 15% of BP’s global LNG production in 2025 and 10% of Shell’s LNG output. People told us that the maintenance and repairs will begin on May 4, and last between 45-50 days. During this time, Atlantic will continue exporting LNG from Trains 2 &?3, with a combined 6 mtpa capacity.
Trinidad's Atlantic LNG Shuts Down Train 4 for Maintenance
Trinidad and Tobago's flagship Atlantic LNG plans to shut its 6 million metric ton per annum Train 4 for up to 50 days in May and June for extensive maintenance and repairs, three people with knowledge of the plan told Reuters.Atlantic LNG is majority owned by Shell and BP - each with a 45% stake - while Trinidad's National Gas Company holds 10%. The facility accounted for roughly 15% of BP's total global LNG production and 10% of Shell's LNG output in 2025, according to company documents.The maintenance and repairs, called a turnaround, will commence on May 4 and will run for between 45 and 50 days…
Petronas signs a 20-year LNG Supply Deal with QatarEnergy
QatarEnergy has agreed to supply Petronas with 2 million metric tonnes of LNG per year in a deal lasting 20 years. This will help meet the country's increasing gas demand despite its dwindling gas reserves. Qatar signed a 27-year LNG deal with Japan in the last week, and this deal was the first long-term LNG supply agreement between the two nations. Petroliam Nasional (Petronas) is pursuing new investments in natural gas fields abroad, and is seeking partnerships with foreign companies to increase extraction. It also seeks LNG import deals due to the falling reserves of local reserves.
Commonwealth LNG signs 20-year supply agreement with Mercuria in response to US LNG export growth
Commonwealth LNG announced on Tuesday that it had signed a sale-and-purchase agreement for 20 years to supply Mercuria 1 million metric tonnes of liquefied gas per year. The deal stipulates that Mercuria would provide Commonwealth with the equivalent amount of natural gas (estimated at 133 millions cubic feet per day) and Commonwealth will convert it to LNG, which Mercuria can then purchase. Commonwealth, a company owned by energy asset management firm Kimmeridge and majority-owned by Commonwealth, is attempting to build America's first integrated export facility for LNG. Kimmeridge will provide gas from Eagle Ford shale to the plant.
Sources say that Malaysia's Petronas is set to sign a deal for LNG supply with QatarEnergy.
Two sources familiar with the matter said that Malaysia's state-owned company Petronas was set to sign a deal with QatarEnergy for the supply of liquefied gas. The southeast Asian nation is seeking more supplies of the super-cooled fuel. One of the sources said that Petroliam Nasional or Petronas will sign a deal for LNG up to 2,000,000 metric tons annually. According to Kpler data, Qatar was the second largest LNG exporter in the world after the United States. It shipped out 81.07 millions tons of fuel last year. QatarEnergy has signed a huge LNG deal with Japan’s Jera. The massive 'North Field expansion project' will produce the first LNG in 2026, during the second half.