ConocoPhillips launches natural gas drilling offshore eastern Australia
ConocoPhillips, a U.S.-based independent company, has begun drilling its first exploration hole as part of a larger campaign to search for natural gas off the eastern Australian coast, 3D Energi its junior partner said on Monday. 3D Energi announced in a filing with the ASX that work began on the Essington-1 oil well over the weekend. It will take 32 days for the drilling to reach 2,650 metres (8.694 feet).
Shell and Total raise concerns about the timing of a new global LNG supply
Shell and TotalEnergies are the two world's largest LNG traders. They said that the timing of the new LNG projects around the globe is still in flux. This could lead to uncertainty regarding long-term supplies. The construction costs of new LNG projects have increased due to rising tariffs. U.S. LNG suppliers are attempting to renegotiate contracts to cover these costs.
Shell Finance Chief flags unpredictability in the timing of global LNG supply
Shell, the largest LNG trader in the world, announced on Thursday that there is uncertainty regarding the long-term supply of LNG due to the uncertain timing of new LNG projects around the globe. Shell CFO Sinead Gorman's comments suggest caution, as forecasts indicate ample LNG supplies in the future. However, she wasn't concerned…
Equinor anticipates a tighter European gas markets this winter
Equinor's chief financial officer said on Wednesday that the outlook for Europe's gas market is tighter this winter than most had anticipated, as storage levels in Europe are 12 percentage points less than they were a year earlier. In 2022, the Norwegian company will overtake Russia's Gazprom to become Europe's largest natural gas supplier when Moscow's invasion of Ukraine disrupts decades-old energy ties.
IEA predicts record LNG demand to lower prices and spur demand
The International Energy Agency announced on Monday that a record amount of liquefied gas production capacity will be coming online by 2030. This is expected to change the dynamics of the gas market, strengthening global supply and easing pressures. In its "Gas 2025", medium-term outlook, the IEA stated that by 2030, 300 billion cubic meters per year of LNG will be exported.
Eni increases share buybacks after Q3 results better than expected
Eni, the Italian energy company, announced on Friday that it would increase the share buybacks by 20% following better than expected third quarter results. The company posted a net profit adjusted of 1,25 billion euros in the third quarter. This was slightly below the 1,27 billion euro profit reported in the same period last year.
Baker Hughes exceeds profit expectations on the strength of industrial and energy technology demand
Baker Hughes, a provider of oilfield services, beat Wall Street expectations for its third-quarter profits on Thursday. This was due to the strength in their industrial and energy technologies (IET) division. Oilfield services firms are navigating a volatile oilfield market. Resilient areas such as LNG infrastructure, upgrades to the power grid…
Germany Sets New LNG Import Terminals into Operation
Germany is putting natural gas import terminals into operation as part of the country's efforts to replace piped Russian gas following Moscow's invasion of Ukraine in 2022.It is deploying floating storage regasification units (FSRUs) to receive seaborne LNG, which official data shows has captured an 11% share of all German gas imports over the first three quarters of 2025.Long-term…
EUROPE GAS - European prices are down on a milder outlook, but winter risks still remain
Dutch and British gas opened lower on Monday morning. The current cold snap is expected to last only a short time, but winter risks remain due to the reduced storage year-over-year and the reliance on LNG imports. LSEG data shows that the benchmark Dutch front-month contract was lower by 0.20 euros at 31.72 Euro per Megawatt Hour (MWh), which is $10.79/mmBtu at 0804 GMT.
Australia Gas Market Interventions Fail, Regulator Finds
The Australian Competition and Consumer Commission said that the government's recent efforts to increase gas supplies and lower prices in Australia have largely been unsuccessful and could even be increasing the risk of shortage, according to the regulator. In a recent report, the Australian Competition and Consumer Commission (ACCC)…
NGSA: US natgas production to reach record levels this winter
According to the Natural Gas Supply Association’s Winter Outlook 2025-2026, U.S. Natural Gas production will reach record levels this winter. This will help meet domestic demand and a growing liquefied gas export market. This winter, the U.S. Natural Gas Market faces a balance act: increasing supply versus growing demand. The NGSA stated that while production and storage is strong…
German LNG Terminals Seek to Replace Russian Gas Pipelines
Germany is putting into operation natural gas import terminals as part of efforts to replace piped Russian gas following Moscow's invasion of Ukraine in 2022.Its first move has been to deploy floating storage regasification units (FSRUs) to receive seaborne LNG, while long-term it is planning shore-based facilities to import and produce ammonia and green hydrogen.Here are details of the latest developments:
Russell: ADNOC must offer more than just money to make the Santos deal work.
Abu Dhabi National Oil Company's (ADNOC) $18.7billion bid for Australian liquefied gas producer Santos faces a much higher hurdle than the money offered. The politics surrounding the deal, which would represent Australia's biggest-ever cash takeover in history, are becoming increasingly difficult to overcome. ADNOC, Australia's second largest oil and gas company launched its bid in June…
Russell: ADNOC must offer more than just money to make the Santos deal work.
Abu Dhabi National Oil Company's (ADNOC) $18,7 billion bid for Australian liquefied gas producer Santos faces a much higher hurdle than the money offered. The politics surrounding the deal, which would represent Australia's biggest-ever cash takeover in history, are becoming increasingly difficult to overcome. ADNOC began its bid in June for Santos, Australia’s second largest oil and gas company.
PetroChina's H1 profits down 5.4% from the previous record
PetroChina, China's largest gas and oil company, reported a 5.4% drop in its first-half net profit compared to a record set a year ago, due to lower oil prices. According to a filing at the Hong Kong Stock Exchange, the net profit was 84 billion Yuan ($11.7billion), down from the 88.8billion yuan of the same period in last year. Revenues fell 6.7%, to 1.45trillion yuan.
Maguire: US gas-heavy pipeline to fuel tensions with LNG exporters
U.S. energy firms are building the largest gas-fired generation capacity in the world, cementing the position of the United States as the world's biggest natural gas consumer and the gas-fired producer. The growing dependence on natural gas in the domestic power sector will also exacerbate tensions between the rapidly expanding LNG export sector and the domestic power industry…
Maguire: US gas-heavy pipeline to fuel tensions with LNG exporters
U.S. energy firms are building the largest gas-fired generation capacity in the world, cementing the position of the United States as the world's biggest natural gas consumer and the gas-fired producer. The growing dependence on natural gas in the domestic power sector will also exacerbate tensions between the rapidly expanding LNG export sector and the domestic power industry…
Prices of gas in Europe are rising as Norwegian supplies increase.
The Dutch and British gas wholesale prices were trading in a narrow band early on Tuesday, as the higher temperatures in Europe restricted heating use. Meanwhile, the cooling demand and low winds generation mainly affected the power market. LSEG data shows that the benchmark Dutch front-month contract was up 0.37 euros at 33.40 Euro per megawatt-hour or $11.55/mmBtu at 0848 GMT.
Low wind and hot weather will increase spot prices
German and French power contract prices for the next week will rise due to low wind output, which is limiting supply. Hot weather also increases demand. However, more forward-looking contracts were at a lower price on Friday morning in line with gas market. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 0926 GMT.
The price of gas in Europe has fallen from its 11-week peak, but Middle East concerns remain dominant
The Dutch and British wholesale prices of gas largely eased Friday morning, after reaching new 11-week-highs on Thursday. However, they remain volatile due to the possibility of an escalation of the Israel-Iran dispute and possible U.S. participation. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell 0.23 euros to 40.05 Euro per megawatt hour by 849 GMT.