Germany fills up all LNG regasification slots in Wilhelmshaven terminals
The state-owned German Energy Terminal GmbH (DET), said that it has successfully allocated all regasification slots available for its Wilhelmshaven LNG terminals 1 and 2. This is a further step in enhancing energy security for Germany, and Europe. DET is responsible to market and operate floating terminals which turn liquefied gas back into natural gas and feed them into Germany's Gas Network.
Fico: Slovakia can't support new EU sanctions on Russia without energy solutions
Robert Fico, Slovakia's Prime Minister, said that the country will not support the EU's 18th sanctions package against Russia until the European Commission offers a solution for the problems the country would face if the bloc were to phase out Russian energy according to plan. The Commission proposed a new set of sanctions on Tuesday against Russia, for its invasion of Ukraine over three years ago.
CEO Seeking to Build Philadelphia LNG Terminal Meets with White House
The CEO of a company seeking to build a liquefied natural gas terminal near Philadelphia told Reuters on Wednesday he met officials at the White House this week to "provide intelligence" about the project in the works for years despite local opposition.Penn America Energy Holdings wants to export 7.2 million tons a year of LNG from a site near Philadelphia to markets in Europe and Asia.
The White House meets with the CEO of a company seeking to build a Pennsylvania LNG terminal
The CEO of the company that wants to build a terminal for liquefied gas near Philadelphia said on Wednesday that he had met with officials at the White House in this week to provide "intelligence" about the project, which has been in the works despite local resistance. Penn America Energy Holdings plans to export 7.2 millions tons of LNG per year from a facility near Philadelphia to European and Asian markets.
Wind opponents sue Trump Administration to block New York wind projects
Fishing companies, as well as offshore wind opponents, filed a suit on Tuesday to challenge the Trump administration’s decision to reverse its course and allow construction on Empire Wind to resume. Empire Wind is a $5 billion project for a wind farm off New York’s coast. Protect Our Coast New Jersey and Clean Ocean Action along with ACK for Whales…
Brookfield plans to triple India's assets in five years, from $100 billion to $300 billion
Brookfield Asset Management is planning to triple its India investment in five years. It will bet on India's growth prospects, and the rising demand for infrastructure and clean energy. Brookfield has increased its investments in India and in the last few years has invested $12 billion into infrastructure assets such as gas pipelines, tower assets…
Prices rise following reports of a strike at Sudzha Gas Metering Station
The Dutch and British wholesale prices for gas rose on Friday after reports of a striking at the Sudzha gas station, which was the point where Russian gas used to enter Europe via Ukraine. LSEG data revealed that the Dutch contract for Winter 2025 was up 1,93 euros at 43.35 Euros/MWh at 0830 GMT. The Dutch contract for front-month was also 1.70 euros higher at 44.55 Euros/MWh.
Gunvor CEO: Global oil supply is growing faster than demand.
Gunvor's CEO, one of the largest oil traders in the world, stated on Monday that global oil supply is growing faster than demand. Last week, oil prices fell to a three-year-low due to a slowdown in demand growth in China as well as concerns over the global impact of President Donald Trump’s protectionist trade policy. "That's the issue." Tornqvist stated that the demand for diesel and gasoline has plateaued in China…
Gunvor CEO: Global oil supply is growing faster than demand
Gunvor, one of the largest oil traders in the world, said that the global oil supply is growing faster than the demand. Last week, oil prices fell to their lowest level in three years due to a slowdown in demand growth and concern about the global economic impact of President Donald Trump's protectionist policies. Torbjorn Tornqvist, CEO of Gunvor…
Bolivia's YPFB and other operators will pump almost $704 mln in oil projects this Year
The Bolivian state oil company YPFB, along with other operators, will invest $703,7 million in this year's investment plan, according to the company, which noted that almost three quarters of the plan will be spent on exploration and production. According to a YPFB statement, 72% of the budget will go towards so-called "upstream" activities…
EQT's profit for the fourth quarter beats estimates due to higher natural gas prices and sales
EQT's fourth-quarter profit exceeded analysts' estimates on Tuesday as the natural gas company benefited from increased prices and sales. The natural gas price rose during the first quarter of this year, reaching a peak that has not been seen in two years. This was due to an increase in gas flow to export plants for liquefied gas. Prices were also boosted by the forecast of more cold weather for January…
Senate confirms Chris Wright, a fracking executive, as Trump's Energy Secretary
The U.S. Senate confirmed Chris Wright as President Donald Trump's Energy Secretary on Monday. Wright is a fracking executive. Seven Democrats and an Independent who caucuses alongside Democrats crossed the aisle. Wright, 60 years old, has been the CEO of Liberty Energy, since 2011. He announced that he would step down as soon as the confirmation was received.
US NatGas Demand Could Hit Record High
U.S. spot natural gas and power prices soared to multi-year highs in several parts of the country with extreme cold expected to boost gas demand to a daily record high on Tuesday.Extreme weather has created havoc for power and gas markets in recent years as demand has come close to outpacing supply.In February 2021, a freeze in Texas killed more than 200 people and left millions without power…
Finland: Russia's Baltic oil exports have fallen 10% following EU sanctions
The Finnish Border Guard reported that the Russian oil exports via the Baltic Sea dropped by 10% in the final four months of 2024 as the EU sanctions on Russian oil and gas were implemented. Baltic Sea nations have been put on high alert following disruptions in power cables, gas pipelines, and telecom links since Russia's full scale invasion of Ukraine 2022. Some of these disruptions are linked to tanker activities.
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, gas futures reached two-year highs ahead of the freezing weather. Meanwhile, spot prices in several major…
Kinder Morgan will purchase a natgas gathering systems for $640 million
Kinder Morgan, a pipeline operator, said that its Hiland Partners unit has agreed to purchase a natural-gas gathering and processing system from Outrigger Energy II LLC in North Dakota for $640m. As U.S. oil production has increased, the oil and gas sector has seen a consolidation of operators. Persistent problems with permits for new pipelines also have made existing operators valuable.
Prices fall in Europe due to milder weather and abundant LNG
The Dutch and British wholesale gas price fell on Friday morning due to forecasts of mild weather and winds next week, and because higher prices in Asia led to more LNG flowing into Europe. LSEG data revealed that the benchmark front-month contract for the Dutch TTF hub had fallen 1.60 euros to 43.70 euros (MWh) or $13.19 /mmBtu by 0931 GMT. The Dutch March contract is down 1.54 euros to 43.76 Euros/MWh.
Europe's imports of LNG are on the rise, but not to Asia's detriment: Russell
In December, Europe's LNG imports reached an 11-month record high. However, this was not at the expense Asia, who also saw higher arrivals. According to commodity analysts Kpler, Europe imported 10.89 million tons of super-chilled gasoline in December. This is up 23% compared to 8.86 million in Novembre and the highest amount since January, when 11.18 millions were imported.
Japan Gas Lobby urges stronger diplomatic efforts to drop LNG Destination Clauses
The head of Japan Gas Association urged on Friday the government to intensify diplomatic efforts in order to eliminate destination clauses from long-term contracts for liquefied gas. This would allow the government more flexibility in reselling LNG in response to changing demand. The Japan's Industry Ministry unveiled on Tuesday a draft version of its revised basic policy for energy…
Europe's imports of LNG are on the rise, but not to Asia's detriment: Russell
In December, Europe's LNG imports reached an 11-month record high. However, this was not at the expense Asia, who also saw higher arrivals. According to commodity analysts Kpler, Europe imported 10.89 million tons of super-chilled gasoline in December. This is up 23% compared to 8.86 million tons in November, and the most since the 11.18 million tons imported in January.
