Canada and BC approve Ksi Lisims Liquefied natural gas project on Pacific Coast
The federal government of Canada and the province British Columbia have approved Ksi LNG, a project to build a liquefied gas export terminal on Canada's northwest Pacific Coast. The Canadian government, under the leadership of Prime Minister Mark Carney, aims to speed up the construction and completion of natural resources projects in order to increase the economy's potential impact from U.S. Tariffs.
Germany Looks to Meet European Demand with Canadian LNG
German companies are looking to buy and swap Canadian LNG cargoes shipped off the Pacific coast to help meet European demand, Canada's Energy and Natural Resources Minister Tim Hodgson said on Wednesday.Canada, the world's fifth-largest natural gas producer, shipped its first-ever liquefied natural gas export cargo in June from the recently constructed LNG Canada facility in British Columbia, which…
ConocoPhillips to Buy 4 Million Tons LNG from Sempra's Port Arthur Phase 2 Project
U.S. oil and gas producer ConocoPhillips said on Thursday it would secure 4 million tonnes per annum of liquefied natural gas from Sempra's Port Arthur LNG Phase 2 project in Texas to serve key global markets.Commercial activity in the U.S. LNG sector has picked up pace after President Donald Trump lifted a moratorium on new liquefied natural gas export permits soon after taking office in January.ConocoPhillips will buy LNG over a 20-year term on a free-on-board basis…
US Natural Gas Prices Drop 4% on Record Output
U.S. natural gas futures fell about 4% to a nine-month low on Tuesday on near-record output, ample fuel in stockpiles and forecasts for less hot weather and lower demand through early September than previously expected.Another factor weighing on gas prices was a decline in the amount of gas flowing to liquefied natural gas export plants due to small reductions at several facilities.Front-month gas futures for September delivery on the New York Mercantile Exchange fell 10.8 cents…
Demand at Two Top US LNG Plants Declines
Two of the United States' largest liquefied natural gas export plants recorded major declines in demand for natural gas on Monday, suggesting parts of their facilities might be down, according to data from financial firm LSEG.Cheniere's Sabine Pass export facility in Texas, which utilizes up to 4.5 billion cubic feet of natural gas per day, was down to 3.7 bcf, and Sempra's Cameron LNG plant in Louisiana…
TotalEnergies sold 45% of its oil and gas blocks in Argentina to YPF at $500 million
TotalEnergies announced on Wednesday that Total Austral, its affiliate company, had agreed to sell 45% of its interest in two unconventional gas and oil blocks to YPF Argentina. TotalEnergies announced that the deal was valued at $500m. It represents 20% of TotalEnergies' acreage within Argentina's Vaca Muerta shale, which is the second largest unconventional gas reserve in the world. TotalEnergies…
Coterra Energy's profit beats expectations in the second quarter due to higher gas prices and strong output
Coterra Energy beat Wall Street expectations for the second quarter profit on Monday as higher production volumes, a rebound of U.S. Natural Gas prices and lower oil prices were offset. Houston-based shale producers benefited from increased production across the Permian basin and Anadarko Basin. The total production increased to 783.900 barrels equivalent of oil per day (boepd), from 669.200 boepd, during the second quarter.
Construction costs at Canada's Woodfibre Liquefied Gas project are rising
Enbridge, a Canadian pipeline company, reported that the construction costs of Canada's Woodfibre Liquefied Gas project have increased, causing capital costs to increase for all parties involved. Woodfibre is a project to build a liquefied gas export facility near Squamish in British Columbia. This project is part of a series of new LNG facilities that are planned along Canada's Pacific Coast. It is expected to be completed in 2027.
Prices of EUROPE GAS stable amid unchanged short-term outlook
After some initial gains in the short term, Dutch and British gas wholesale contracts were mostly stable. However, increased competition for LNG could pose a threat. LSEG data show that the benchmark Dutch front-month at TTF hub fell 0.25 euros to 33.80 Euros per Megawatt Hour (MWh) or $11.45/mmBtu at 0909 GMT. The price reached as high as 34.99 euro/MWh during the morning. The Dutch contract for September was down by 0.28 euros at 34.45 Euros/MWh…
Equinor extends Norway LNG Outage until August 3
Equinor, a Norwegian company, has extended a maintenance outage to its Hammerfest LNG Terminal, Europe's biggest liquefied gas export facility by another five days, until August 3. The company announced this in a filing with the regulatory authorities on Saturday. The Melkoeya plant, which is also known as Hammerfest in Arctic Norway, was scheduled to resume operation on July 19, but went offline on April 22 for maintenance.
Equinor Extends Maintenance Outage at Hammerfest LNG Plant
Norway's Equinor has extended the maintenance outage at its Hammerfest LNG terminal, Europe's largest liquefied natural gas export facility, by 10 days to July 29, the company said on Monday.The Hammerfest plant in Arctic Norway, also known as Melkoeya LNG, went offline for annual maintenance on April 22, and was initially scheduled to return to operation on July 19.However, the facility will remain offline until July 29…
Canada's New LNG Exports Have Yet to Lift Gas Prices
Last month's start-up of LNG Canada, the country's first large-scale liquefied natural gas export facility, has failed to lift Western Canadian natural gas prices as quickly as some market participants and observers expected, due to a persistent supply glut and the gradual pace of the facility's ramp-up.Shell-led Canada shipped its first cargo of 70,000 metric tons from the country's Pacific coast on June 30…
Executive of Malaysian energy company Petronas says that the company has no plans to leave Canada
The CEO of Petronas' Canadian subsidiary, who spoke on Tuesday, said that the Malaysian company has no plans to abandon Canada. He added that the company was committed to exporting LNG off Canada's West Coast for decades. Petronas Canada's CEO Mark Fitzgerald said that the rumor of Petronas leaving Canada was "absolutely not true" on the sidelines an energy conference held in Calgary. Bloomberg reported that Petronas is considering selling its Canadian company Progress Energy Resources Corp.
EUROPE GAS - Prices hold firm on the elusive Ukraine ceasefire and muted supply
The Dutch and British wholesale prices for gas were slightly higher on Tuesday morning, as a weaker demand was countered by the ongoing conflict in Ukraine. Also, there was a reduced supply of liquefied gas from Norway and the United States. LSEG data shows that the benchmark Dutch front-month contract was 35.45 euros per Megawatt Hour (MWh), or $11.86/mmBtu at 0836 GMT. This is an increase of 0.48 Euro. The British day-ahead contract increased by 1.50 pence, to 83.00 pence per thermo.
US Regulators Recommend That Venture Global's CP2 LNG Project Gets Greenlight
U.S. federal regulators recommended in a final environmental report that Venture Global's proposed CP2 liquefied natural gas export project in Louisiana get the go-ahead, according to a government document filed on Friday.If constructed, CP2 will be the single largest LNG export facility in the U.S. and help the country remain the world's largest exporter of the superchilled gas.Venture Global already obtained approval to construct the 28 million tonnes per annum plant…
Document shows that Russia has reduced its estimate of energy export revenue by 15% for 2025.
According to a document from the Economy Ministry, Russia's forecast for oil and gas export revenue for 2025-2027, which is a major source of funding for state budgets, has been cut by 15% due to lower oil prices. This revision will put additional pressure on the budget already burdened by high defense spending for the war in Ukraine. Donald Trump, the U.S. president, said that lower oil prices this year could help to end the war in Ukraine.
Hammerfest LNG Plant in Norway will be closed for maintenance from July until August
Equinor announced that its Hammerfest LNG Terminal, Europe's biggest liquefied gas export facility, was shut down on Tuesday for planned annual maintenance. According to a regulatory document, the maintenance outage, which began at 0400 GMT at the Hammerfest LNG plant (also known as Melkoeya LNG), is expected to last until 10 July. A spokesperson for Equinor confirmed that the company had begun an extensive maintenance shutdown to ensure robust operation for "at least 3 new years".
Asian countries are looking to purchase more US energy in order to balance trade imbalance
As they try to reduce their trade surpluses with Washington, Asian governments are buying more U.S. gas and oil in order to ease their tariff burdens due to President Donald Trump’s new import duties. Many Asian countries have large trade surpluses and also are major energy importers. Trump's tariffs have caused economic and market turmoil. Here are some measures Asian countries will take to increase their purchases of U.S. gas and oil.
Bloomberg News reports that Abu Dhabi's ADNOC is considering a bid for Aethon US natgas assets.
Bloomberg News, citing sources familiar with the situation, reported Friday that Abu Dhabi's state oil company ADNOC was considering a bid to acquire natural gas assets from investment firm Aethon Energy Management, which could be worth up to $9 billion. ADNOC is acquiring a number of companies in the gas and chemical industries, which it sees as important pillars to its future growth. The energy giant…
Mubadala Energy acquires Kimmeridge LNG and gas projects in the US
Mubadala Energy is an arm of Abu Dhabi’s sovereign wealth fund. It signed a deal with Kimmeridge, a US-based energy investor, on Thursday that gives it stakes in American gas assets. This marks its entry into the United States market, as part of the company’s growth plans. Mubadala Energy announced that the deal to purchase 24.1% of Kimmeridge’s SoTex HoldCo would give Mubadala Energy direct access to Kimmeridge’s unconventional gas production and to a Louisiana liquefied gas export project.