Maguire: Recovering wind power may cool Europe's hot gas market
The wind-powered electricity produced in Europe in January 2024 was down by more than 7%, denying regional power producers a vital source of clean energy just as the demand for heating reached its peak. This wind shortage triggered an increase…
Data shows that Ukraine gas imports will increase by 10% on Thursday.
Data provided by the operator for gas transmission systems shows that Ukraine will increase its gas imports by 10% to 25 million cubic metres on Thursday, following Russian missile attacks which damaged Ukrainian gas production plants earlier in the week.
EIA: US natgas production and demand will reach record highs by 2025
The U.S. Energy Information Administration released its Short-Term Energy Outlook Tuesday, predicting that both the U.S. Natural Gas output and demand would reach record highs by 2025. EIA's projected dry gas production is expected to rise from 103.1 billion cubic feet per day in 2024…
Energy Transfer signs Natural Gas Supply Agreement with CloudBurst
Energy Transfer, a U.S. pipeline company, entered into an agreement on Monday with CloudBurst Data Centers of Denver to supply natural gas for the development of Central Texas. Data centers, driven by the rising demand for power from AI and the slow grid improvements…
Data show that Ukraine kept its gas imports high on Sunday.
The operator of the state-owned gas transmission system revealed that Ukraine will maintain its gas imports to a high level, 16,3 million cubic meters (mcm), on Sunday. Data suggested that Ukraine would import gas from Hungary, Slovakia and Poland.
Nigeria's NNPC and partners to build 5 mini-LNG for local gas usage
A company spokesperson announced late Thursday that the state-owned Nigerian National Petroleum Company has started construction on five mini-liquefied gas plants (LNG). This is part of government initiatives to boost economic growth and gas consumption.
The demand for US natgas is expected to reach a record high on Tuesday
The U.S. demand for natural gas is expected to hit a record on Tuesday as the extreme cold that has affected much of America puts pressure on power grids, and certain oil and gas operations. Last week, the February natural gas contract reached its highest price since December 30, 2022.
Sources say that Kretinsky EPH is among the suitors who have approached Uniper about its EPH.
Three people with knowledge of the matter claim that Berlin has approached Daniel Kretinsky, a Czech billionaire, about buying German state-owned utility Uniper. Sources said that other funds approached included the New York-based fund Brookfield and Equinor, a Norwegian company.
After holiday weekend, US demand for natgas is expected to reach record levels
The U.S. demand for natural gas is expected to hit a record next week, as the extreme cold that has gripped the U.S. this winter will put pressure on power grids again the day following the Martin Luther King Jr. Day weekend. This week,…
Sinopec, a top refiner, claims that China's oil demand will peak in 2027.
Sinopec, the state-owned refinery, said that China's oil demand will peak in 2027. This is due to a decline in diesel and gasoline consumption, which has slowed down global oil markets. Sinopec stated that the peak oil demand in 2027 will not exceed 800 million metric tonnes…
The spot price rises on the drop in wind and nuclear demand, as well as higher French demand
European power prices rose Thursday as the main wind producer Germany was expected to experience a sharp drop in wind production output, and French nuclear availability fell sharply. LSEG's analysis painted a positive picture. It noted that…
Sinopec predicts China's oil consumption will peak in 2027
Sinopec (China Petrochemical Corp.) expects China’s petroleum consumption will peak in 2027, at no more that 800 million metric tonnes or 16 million barrels a day. The state energy group released an outlook on Thursday. The forecast is more…
EIA: US natgas production will decline in 2024 as demand reaches record levels, EIA reports
The U.S. Energy Information Administration's (EIA) Short Term Energy Outlook, released on Tuesday, predicted that U.S. Natural Gas production would decline by 2024 and demand would rise to a new record. EIA predicted that dry gas production would decline from a record 103…
ADNOC, the state oil company of UAE, has established an international investment arm XRG
ADNOC, the state-owned oil company of the United Arab Emirates, announced on Wednesday that it had launched XRG. This investment firm focuses on low-carbon energy sources and chemicals. It is valued at over $80 billion. When it starts operating in 2025's first quarter…
US natgas manufacturers chase AI-driven surge of power demand to weather low price
Shale gas producers are contacting data-center operators in the U.S. Permian Basin to build up the capacity needed to power an AI boom. They want to relieve the pressure of a two-year-old slump in prices. Devon Energy, Expand Energy Diamondback…
US natural gas drillers will increase output in 2025, reversing a year-long cut
The U.S. Natural Gas producers will increase output in 2025 after a series production cuts this past year. Rising demand from LNG export plants should raise prices, which had dropped to multi-decade lows. According to the latest U.S. Energy Information Administration outlook, U.S.
TC Energy expects higher core profit in 2025 on natgas and electricity demand
TC Energy announced on Tuesday that it expects its core profit in 2025 to be between C$10.7 and C$10.9 Billion, higher than the C$9.9 to C$10.1 Billion forecast for 2024. This is due to an increase in demand for electricity and natural gas.
Prices for gas in Europe are rising as the low wind increases demand.
Dutch and British wholesale prices of gas rose on Monday as low wind speeds increased gas demand for electricity generation. Strong inventories and temperatures above normal could limit further increases. LSEG data shows that the benchmark…
Mitsubishi Japan expects LNG production to reach 17 million tonnes per year by early 2030
Mitsubishi, a Japanese trading company, expects to see its LNG production capacity grow by over 17 million tonnes per year in the early 2030s. This is due to its stakes including projects in Malaysia and Canada. Mitsubishi has invested in 12 LNG projects with a total production capacity of 110…
Sinopec's Q3 profits fall by 52.1% due to lower oil prices and refining margins
Sinopec, a Chinese refiner, reported a 52.1% drop in its net profit year-on-year to $8.54 billion yuan (US$1.2 billion) during the third quarter due to lower oil prices. Sinopec, the world's biggest refiner based on capacity, reported 790.4 billion Yuan in revenue for its third quarter…
