LNG traders divert cargoes to Asia from Europe as demand in the east increases
Analysts and shipping data indicate that three LNG cargoes bound for Europe were diverted to Asia in order to meet the stronger Asian demand, and because gas prices have decreased in Europe. The rapid change of course shows the agility of the trading firms to send LNG supplies either to Europe or Asia. As Asian prices rise, the arbitrage window for sending U.S. and African Liquefied Natural Gas to Asia opens.
Woodside's O'Neill says that the LNG market will grow by 50% over the next decade.
Woodside Energy's CEO, who spoke on Tuesday, said that the company expects global demand for liquefied gas (LNG), to increase by 50 percent in the next decade. Over the past decade, the LNG market has grown by 50%. Meg O'Neill, speaking at the Energy Intelligence Forum held in London, said that she expects the market to grow another 50% over the next decade. O'Neill stated that the company has received…
Woodside: LNG Market to Grow by 50% in Next Decade
Australia's Woodside Energy WDS.AX expects the global market for liquefied natural gas (LNG) to grow by 50% in the coming decade, its CEO said on Tuesday."Over the last decade the LNG market grew by 50%. We anticipate it will grow by another 50% in the coming decade," Meg O’Neill told the Energy Intelligence Forum in London.O'Neill said the company had received interest from a lot of onshore gas players…
Woodside Energy CEO: We are in discussions with potential partners about Driftwood LNG
Woodside Energy CEO Meg O'Neill announced on Monday that the company is in talks with U.S. onshore gas producers, pipelines and companies who share its views and outlook on liquefied gas for its Driftwood LNG Project. O'Neill, speaking at an investor's conference in New York said that U.S. producers of gas were frustrated by the lower Henry Hub price for gas which is then converted into LNG and sold to higher global prices.
Shell to Shut Its Convent, La. Refinery Amid Pandemic
Royal Dutch Shell said on Thursday it will shut down its refinery in Convent, Louisiana, the largest U.S. facility to close since the coronavirus pandemic first hit and devastated economic demand worldwide.The shutdown, to occur this month, comes after Shell failed to find a buyer.The refinery is the ninth in North America either to announce a shutdown or to be idled since the pandemic, which has delivered a heavy blow to fuel demand globally.
US Energy Exports Severely Disrupted by Hurricane Laura
Oil and gas exports from the United States have been severely disrupted by Hurricane Laura, with nearly a million barrels per day (bpd) of crude exports likely reduced this week by closures of U.S. Gulf Coast terminals and disruptions at ports.The hurricane also temporarily suspended operations at several liquefied natural gas (LNG) facilities in the world’s third largest exporter of the super-cooled gas…
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)
Sasol's Annual Profit up 5%
South African petrochemicals group Sasol on Monday reported a 5% rise in annual profit and shelved its final dividend as the firm sought to strengthen its balance sheet in light of a challenging trading environment.Core headline earnings per share (HEPS), which strips out certain one-off items and is the primary profit gauge in South Africa, rose to 38.13 rand ($2.61) for the 12 months ended June.
Tellurian Clears Hurdle for LNG Export
Texas-based natural gas company Tellurian has announced that the US Department of Energy (DOE) Office of Fossil Energy has issued the long-term authorisation for Driftwood LNG to export domestically produced LNG from its proposed export facility to non-free trade agreement (non-FTA) countries.U.S. Secretary of Energy Rick Perry said, “I am pleased to announce the order signed today authorizing Driftwood…
FERC Authorises Driftwood LNG
U.S. Federal Energy Regulatory Commission (FERC) has granted the authorisation for the construction and operation of Tellurian's Driftwood LNG export facility in Louisiana, U.S.Driftwood LNG is a proposed 27.6 million tonnes per annum (mtpa) liquefaction export facility near Lake Charles, Louisiana, and the associated Driftwood pipeline, a 96-mile proposed pipeline connecting to the facility.President and CEO Meg Gentle said…
BSEE Responds to Oil Platform Fatality in the GOM
The Bureau of Safety and Environmental Enforcement is conducting an investigation into the fatality of a platform worker in an area of the Gulf of Mexico known as West Cameron 215A, about 64 miles south of Lake Charles, Louisiana. The offshore oil and gas operator, Energy Resource Technology GOM, LLC, a subsidiary of Talos Production LLC, reported that the fatality occurred at approximately 10:30 am on Feb. 17, 2018.
U.S. GoM Energy Producers Evacuating Ahead of T/S Nate
Oil and natural gas producers began evacuating staff at U.S. Gulf of Mexico platforms on Thursday ahead of Tropical Storm Nate, the second storm in as many months to threaten Gulf Coast oil and refining facilities. Nate, which has already killed three people in Costa Rica, according to local authorities, is forecast to scrape past Honduras and Mexico, enter the Gulf and strengthen into a hurricane before making landfall early on Sunday in Louisiana, near several major refineries.
Fuel Shortages from Harvey to Hamper Labor Day Travel
Travelers and fuel suppliers across the United States braced for higher prices and shortages ahead of the Labor Day holiday weekend as the country's biggest fuel pipelines and refineries curb operations after Hurricane Harvey. Just six days after Harvey slammed into the heart of the U.S. energy industry in Texas, the effects are being felt not just in Houston, but also in Chicago and New York, and prices at the pump nationwide have hit a high for the year.
US DoE Releases 500 mb from SPR
The U.S. Energy Department said on Thursday it would release 500,000 barrels of crude oil from the Strategic Petroleum Reserve as Tropical Storm Harvey's disruption of the petroleum industry has sent fuel prices soaring. The first emergency release from the reserve since 2012 will be delivered to the Phillips 66 refinery in Lake Charles, Louisiana, according to a department statement. That plant has not been affected by the storm, which has hammered the Gulf Coast for several days.
Dakota Access Pipeline 99% Complete
Energy Transfer Partners LP said on Thursday that 99 percent of its controversial Dakota Access Pipeline is complete after receiving all federal authorizations necessary earlier this month. The crude pipeline will begin or continue line fill in late March or early April, according to executives on its fourth-quarter earnings call. It will then begin "demand charges" on subscribed volumes by June 1.
Pipeline Fight Moves from Dakotas to Louisiana
When Hope Rosinski's father gave her a six-acre plot in Louisiana more than a decade ago, she was surprised to find oil and gas pipelines crisscrossing the property. Pipeline companies later secured her permission for two more lines, one of which has since caused flooding and consistently leaves her land saturated. Now she's had enough. Rosinski is fighting the latest request for a right-of-way, this…
MLNG, VGS Sign HOA for sales to KGLNGT Terminal in India
Liquefied Natural Gas Ltd (LNGL or the Company) has advised that its 100% owned subsidiary, Magnolia LNG, LLC (MLNG or Magnolia), has signed a Heads of Agreement (HOA) with Vessel Gasification Solutions, Inc. (VGS) in relation to the Magnolia LNG Project, in Lake Charles, Louisiana, United States (MLNG Project). The non-binding HOA provides for a 20 year Free-on-Board (FOB) Sale and Purchase Agreement (SPA) of up to 4 million metric tonnes per annum (mtpa).
Technip, Venezuelan Firms Tapped to Refurbish Aruba Refinery
A consortium formed by France's Technip and Venezuela's Tecnoconsult and Y&V Group was picked to refurbish Aruba's 225,000-barrel-per day refinery, the Caribbean island's government said on Thursday. The facility will be overhauled in a $700 million project that is expected to take 18 months starting in early 2017. It has been idle since 2012 when it was shut by the previous operator, U.S. Valero Energy.
US Refiners Face Severe Labor Shortage
After years of running flat out, U.S. Gulf Coast refiners are lining up repairs to plants in 2017 - but facing a severe labor shortage that could delay work, drive up costs and raise accident risks. Fuel producers such as Marathon Petroleum Corp (MPC.N) and Valero Energy Corp (VLO.N) have delayed routine work in the past 24 months amid high margins. Those margins collapsed this year in a global fuel supply glut…
DOE Nod for Magnolia LNG Non-FTA Exports
Liquefied Natural Gas Limited have informed that the US Department of Energy (DOE) has announced today its decision granting LNGL’s Magnolia LNG Project authorization to export liquefied natural gas from the proposed facility in Lake Charles, Louisiana, USA to countries with which the United States has not entered into a free trade agreement (non-FTA approval). Greg Vesey, LNGL Managing Director and CEO…
