Russia's proposed gas pipeline to Iran
The Russian President Vladimir Putin announced on Friday plans to build a pipeline to Iran that will eventually transport up to 55 billion cubic meters (bcms) of gas per year into the West Asian nation. Here are some background details about the cooperation between Iran, Russia and the gas sector. Iran is the second largest gas producer in the world after Russia. However, U.S. sanctions are preventing access to technology as well as slowing down gas exports.
Hungary will increase its gas exports to Slovakia starting April
The transmission system operator FGSZ announced on Tuesday that Hungary would increase its gas export to Slovakia from 2.63 billion cubic metres per year to 3.5 bcm by April. Hungary's decision to increase its export capacity to the north follows Ukraine refusing to renew a transit agreement with Russia, as it seeks a reduction in revenue that goes to Moscow for funding the war in Ukraine. The expiration…
Equinor extends Norway LNG Outage by 10 Days
Equinor announced in a Wednesday regulatory filing that it has extended the outage of its Hammerfest LNG facility in Arctic Northern Norway by 10 more days, to January 19, as they continue to repair a faulty compressor. The Hammerfest plant (also known as Melkoeya LNG) has the ability to deliver approximately 6.5 billion cubic meters of gas each year. This is enough to provide about 6.5 millions European homes and accounts for about 5% of Norwegian gas exports. On Jan.
Serica Energy, UK, restarts production on Triton vessel
Serica Energy, a UK-based company, announced on Tuesday that the production of its Triton floating storage and offloading vessel (FPSO) in the North Sea had resumed on December 27. The wells are still being restarted and the process is ongoing to phase-in the new and existing producing wells. It reported that its annual production in 2024 would average 34,600 barrels equivalent per day (boepd), a little below its previous estimate of 35,000-36,000.
Equinor's Hammerfest liquefied natural gas plant closed for a week due to compressor failure
Equinor announced on Thursday that its Hammerfest LNG facility in Arctic Northern Norway suffered an unexpected outage because of a compressor failure. The company said the plant's output was halted for a week. The Hammerfest plant (also known as Melkoeya LNG) has the ability to deliver approximately 6.5 billion cubic meters of gas each year. This is enough to provide about 6.5 millions European homes and accounts for about 5% of Norwegian gas exports.
US Energy Department: Two LNG reviews must be waited for by regulator
The U.S. Department of Energy announced on Tuesday that it will not be able to finish its reviews of two proposed liquefied gas export terminals planned for Louisiana until an independent regulatory agency completes their environmental assessments of these projects. The Department of Energy said that it must wait until the Federal Energy Regulatory Commission (FERC) has completed its work to review…
Serica Energy reduces full-year production forecast due to Triton Outage
Serica Energy, a UK-based company, said Tuesday that it expected full-year production will be lower than previous estimates following an outage in its Triton hub located in the North Sea. Serica stated in a press release that following the suspension of Triton production on October 26, there was an extended outage due to problems with the compression capability for gas export. Last month, the company reported that the Triton floating storage and offloading vessel (FPSO)…
Kremlin claims new U.S. Sanctions are an attempt by the U.S. to halt Russian gas exports
The Kremlin said on Friday that the new U.S. Sanctions on Russia's Gazprombank are an attempt by Washington, to hinder the Russian gas export. However, a solution will be found. Washington imposed new restrictions on Gazprombank Thursday, which prevent it from completing any new energy transactions that could affect the U.S. Financial System. It also banned its trade with Americans as well as freezing its U.S. Assets.
Freeport LNG liquefaction train at Texas export plant shuts
Freeport LNG reported to state regulators on Thursday that one of the three liquefaction train at its export plant in Texas was shut down on Wednesday. Freeport stated that Train 3 was tripped during operation due to a problem with a lube-oil pump. This caused an emissions event which lasted for more than 11 hour from Wednesday evening until early Thursday morning. The state report did not include any details about the company's plans to restart. U.S. Natural Gas Futures fell after the news.
US natgas exports to LNG plants are on track to reach a 9-month high
According to data provided by financial firm LSEG, the amount of gas going to seven large U.S. liquefied gas export plants is on track to reach a new nine-month record on Thursday. This was due to feedgas reaching multi-week records at a few plants. Energy market is concerned about feedgas flow to U.S. Liquefied Natural Gas plants, because in recent years exports were the largest source of growth for the gas industry. In 2023, the U.S.
US oil industry calls on Trump to abandon Biden's climate policies
The U.S. Oil and Gas Industry on Tuesday called for President-elect Donald Trump's revocation of many policies implemented by President Joe Biden to combat climate change. They said the measures threatened jobs, consumer choices and energy security. The American Petroleum Institute, the nation's largest oil and gas trade association, has urged the incoming Trump administration to remove vehicle emission standards designed to encourage the auto industry to make more electric vehicles.
Sempra misses its profit forecast due to higher costs and lower utility earnings
Sempra, a U.S. energy company, missed Wall Street's third-quarter profit estimates on Wednesday due to higher interest costs and lower earnings in its utility businesses of Texas and California. Utilities are ramping up investments in their projects amid booming demand from data centers to power the artificial-intelligence wave, but elevated interest rates in the United States are eating into the companies' margins.
Equinor is preparing to assess Sleipner B damages
Equinor, a Norwegian company, said it would survey the damage to its Sleipner B platform in the North Sea on Wednesday. The platform was closed late Monday night after a smoke alarm was raised in an electrical installation. Equinor, according to a spokesperson for the company, continued to meet its gas supply obligations to Europe on Wednesday by pumping additional gas from other fields. The spokesperson said that two emergency vessels doused Sleipner in seawater Tuesday…
Drill, baby, drill in Argentina's Vaca Muerta shale lands!
Argentina's new, market-friendly government, and concerns about oil supplies from the Middle East, and elsewhere, are driving a boom in drilling and production in the Patagonian South, which is home to the giant Vaca Muerta shale, Spanish for "Dead Cow". In the flat, arid terrain, the production of shale oil and gas is surging. Fracking wells have been drilled in record numbers, and pipelines have…
Tanzania builds grid interconnector to Zambia to mitigate power crisis
Tanzania's vice prime minister announced at the Singapore International Energy Week on Monday that Tanzania will build a grid-interconnector with Zambia in order to assist in reducing a power crisis caused by a drought. "We already have interconnectors in place with our neighbours Burundi and Kenya, but now we're putting up one with Zambia. This will allow us to help our neighbor, Zambia, who is suffering from a severe drought," said Doto Biteko. He is also the Energy Minister.
Canadian Natural Gas Companies eager to capitalize on the LNG boom flood the market with excess supply
Analysts said that a huge LNG Canada terminal, led by Shell, could struggle to raise Canadian natural-gas prices dramatically when it begins operating next year, because of a glut of supply waiting to be released. Storage was full, and the price of a million British thermal unit (mmBtu), which had been at a high for two years, dropped to 5 Canadian cents in late September. The slump hurts producers…
Woodside completes Tellurian acquisition for $1.2 billion
Woodside Energy announced on Wednesday that it had completed the acquisition, including the debt, of U.S. Gulf Coast Liquefied Natural Gas export project developer Tellurian. Tellurian's shareholders voted last week in favor of the proposed acquisition by Australian energy producer. Woodside has announced that it is renaming the Driftwood Louisiana LNG opportunity to Woodside Louisiana LNG. The company stated that it aims to be ready for a final investment decision (FID)…
Venture Global doesn't need any more time from BP to begin production, BP says to regulators
BP Plc, the oil and gas producer, told federal regulators that it had reviewed confidential documents and did not believe Venture Global LNG needed more time to start commercial production. Calcasieu Pass, a plant owned by Venture Global LNG, has been the subject of a longstanding dispute involving BP and Shell regarding access to liquefied gas produced at the plant. Venture Global will become the second-largest U.S.
Freeport LNG Targets Year End for Full Operations After Fire
Freeport LNG, one of the largest operators of liquefied natural gas export plants in the United States,on Tuesday said last week's fire damage to its Texas plant would keep it fully offline until September with only partial operation through to the year end.Natural gas prices slumped in the United States and soared in Europe on the lengthier shutdown as the Quintana, Texas, facility produces roughly 20% of U.S.
Shell to Exit Lake Charles LNG Project
Royal Dutch Shell said on Monday it will exit the Lake Charles liquefied natural gas export project in Louisiana, citing the plunge in oil prices due to the coronavirus pandemic.The project is a 50-50 venture with U.S. midstream company Energy Transfer, which said in a separate statement it will take over development of the project.(Reporting by Shradha Singh in Bengaluru; Editing by Aditya Soni)
