US Natural Gas Prices Fall 6% in Volatile Contract Expiration Trade
U.S. natural gas futures fell about 6% on Wednesday to a one-week low in volatile contract expiration trade, pressured by an expected decline in gas flows to liquefied natural gas (LNG) export plants.Traders said Freeport LNG in Texas might reduce output and they pointed to forecasts for less demand this week than previously expected.On its last day as the front-month, gas futures for June delivery on the New York Mercantile Exchange (NYMEX) fell 19.4 cents, or 5.7%, to settle at $3.214 per million British thermal units (mmBtu)…
Cheniere Energy Enters Natural Gas Deal with Canadian Natural Resources
U.S. LNG exporter Cheniere Energy said on Wednesday its unit has entered into a long-term agreement to purchase natural gas from Canadian Natural Resources.WHY IS IT IMPORTANTThe U.S. is the world's largest exporter of liquefied natural gas and had shipped 11.9 billion cubic feet per day of the supercooled fuel in 2024.Commercial activity in the sector has gained further momentum after U.S.
Russia's Arctic LNG 2 Plant Shuts Down First Production Train In Absence of Tankers
Russia's Arctic LNG 2 plant, currently under U.S.
Egypt In Talks to Buy LNG Cargoes Amidst Energy Crunch
Egypt is in talks with energy firms and trading houses to buy 40-60 cargoes of liquefied natural gas (LNG) amid a worsening energy crunch ahead of peak summer demand, three sources aware of the matter told Reuters.The country faces spending up to $3 billion at current prices to secure the LNG, squeezing government coffers already under strain to keep the lights on amid falling gas production and a cost of living crisis.President Abdel Fattah al-Sisi on Wednesday directed the government to "preemptively take whatever needs necessary to ensure stable electricity flow…
Venture Global to Become Top US LNG Company if Louisiana Project Approved
Venture Global is poised to become the largest U.S. liquefied natural gas company by next year if it proceeds with its CP2 project in Louisiana and continues overproduction at its existing plants, according to LSEG data and company statements.Only a startup three years ago, Venture Global currently has a combined capacity to produce 38.5 million metric tons per annum (mtpa) of LNG from its two operational plants in Louisiana, LSEG data show.That could surge to 66.5 mtpa after it approves and completes construction of its latest project…
Mitsui OSK To Asses EU Sanction Impact On Its LNG Vessels
Japan's second-largest shipping company Mitsui O.S.K. Lines (MOL) said it is carefully assessing the impact on three of its liquefied natural gas vessels of new sanctions imposed by the European Union against Russia."We will continue to fully cooperate with the relevant authorities, including the European Union and the Japanese government, and remain committed to complying with all applicable laws, regulations, and international rules," said a company spokesperson on Wednesday."We will take appropriate measures as necessary…
Russian Arctic LNG 2 Starts Second Production Train
Russia's Arctic LNG 2 plant, which is subject to U.S. sanctions, has started production at its second train even after it has been unable to sell liquefied natural gas from a first train, a source familiar with the matter told Reuters.Russian energy company Novatek declined to comment.It owns 60% in the plant located on the Gydan peninsula that juts into the Kara Sea and had been set to become one of Russia's largest LNG plants with an eventual output of 19.8 million metric tons per year at three trains.Novatek began production at Arctic LNG in December 2023…
US LNG Exporters Continue New Projects Despite Trade War Uncertainty
Woodside Energy's decision last month to proceed with its Louisiana LNG export facility was the first of over 90 million tonnes of new LNG shipping capacity U.S. companies plan to approve this year despite uncertainty about President Donald Trump's trade war, according to company statements and analysts.The U.S., already the world's largest exporter of the superchilled gas with 91.3 million tonnes of annual capacity, should triple that before 2030 thanks to projects awaiting final investment decisions. Those come on top of 95.7 mtpa under construction…
Edison Receives First Delivery of US LNG From Venture Global
Italian energy group Edison said on Wednesday it received the first cargo of liquefied natural gas (LNG) from U.S.
GAIL: Dabhol LNG Terminal Will Run During Monsoons
Indian gas transporter GAIL (India) will operate its 5 million-tonnes-per-year liquefied natural gas (LNG) import terminal in western India during the monsoon season for the first time, after completing a breakwater facility, Chairman Sandeep Kumar Gupta said.The company typically shuts the Ratnagiri terminal — popularly known as the Dabhol LNG plant — for four months from May 25 each year to avoid high tides. The new breakwater will now enable ship arrivals during the monsoon."Our breakwater has been completed. We have applied for an all weather terminal status with the authorities and hope to get authorisation in a week's time.
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, but was forced to conduct an additional environmental review of air quality impact following a court ruling.The study concluded that the project should be allowed to continue…
