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…
Trump lifts the freeze on LNG export permits
The U.S. President Donald Trump ordered on Monday that the U.S. resume processing applications for export permits for new liquefied gas (LNG). This is part of his effort to increase U.S. energy production and to dismantle climate policies from his predecessor. The Republican executive order was expected and reverses the pause that Joe Biden…
The demand for US natgas is expected to reach a record high on Tuesday
The U.S. demand for natural gas is expected to hit a record on Tuesday as the extreme cold that has affected much of America puts pressure on power grids, and certain oil and gas operations. Last week, the February natural gas contract reached its highest price since December 30, 2022. The cold weather that accompanied the weekend had the potential to reduce output due to the freezing of gas wells and pipelines.
Republican-led states file suit against Biden administration for offshore drilling ban
A group of Republican states filed a suit on Friday to challenge a ban on offshore oil and natural gas development announced earlier this month by the outgoing Democratic U.S. president Joe Biden. According to a court document, the lawsuit is seeking a reversal Biden's prohibition with declaratory and judicial relief. The filing argues…
Sources say that Trump will end the need to renew some LNG export permits
According to two sources familiar with the plan, Donald Trump, the U.S. president-elect will eliminate the requirement that some LNG producers renew their export permits. Sources said that Trump would likely include this change in his executive order on LNG, which he will issue during his first day of office. Trump, who will take office…
US natgas flow to Freeport LNG Export Plant in Texas reduced – LSEG data
According to data provided by financial firm LSEG, the amount of natural gases flowing to Freeport LNG’s Texas export plant was on course to reach a new one-month record low on Monday. Freeport LNG has one of the highest levels of attention in the world, as the start-up and shutdown of its operation can cause huge price swings on global gas markets. U.S.
Winter storms in the US could lead to power outages and a reduction of natgas supplies
According to energy analysts, the next few weeks could see massive power outages across the U.S. and a spike in natural gas demand. As a result of the "freeze offs" of oil and gas pipes and wells, the demand for gas is expected to increase. According to the U.S. Energy Information Administration, gas is responsible for 43% of America's electricity generation and 45% of its homes are heated by it.
Dallas Fed: US oil executives will expect quicker permits under Trump
According to a Federal Reserve Bank of Dallas study released on Thursday, U.S. Energy executives expect quicker permitting times for drilling federal lands in the Trump administration. According to a survey conducted in December of 134 energy companies in Texas, Louisiana, and New Mexico, the overall outlook improved, activity levels increased, and uncertainty decreased in the fourth quarter of 2024.
US NatGas up as LNG feedgas rises, Frigid Temps Forecast
U.S. natural gas futures edged up about 1% on Thursday on near record flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher heating demand over the next two weeks than previously expected.Also supporting U.S. futures, traders noted that European gas prices climbed to a 13-month high due to cold…
EUROPE GAS - Prices rise due to colder weather forecast and transit concerns in Ukraine
Dutch and British wholesale prices for gas rose on Friday, boosted by cold weather forecasts in January and the fading hope of a new agreement to transit Russian gas via Ukraine. By 0914 GMT, the benchmark front-month contract for the Dutch TTF hub had increased by 1.27 euros to 46.80 euros/megawatt hour or $14.36/mmBtu. The contract for February was increased by 1,211 euros to 46,96 euros/MWh.
Document filed by Venture Global LNG shows that it wants to extend the force majeure for its first plant until 2025.
Venture Global LNG intends to extend force majeure for its Calcasieu Pass plant in Louisiana until 2025. This would delay the first deliveries under long-term contract to three years following production. Due to power problems, the plant's prolonged commissioning has resulted in contract arbitration actions brought by BP, Shell, Edison, Repsol Galp and Orlen.
US LNG Rises 2% on LNG Plant Volume Data
U.S. natural gas futures climbed about 2% on Wednesday on rising flows to the nation's liquefied natural gas (LNG) export plants and expectations utilities pulled more gas out of storage than usual to heat homes and businesses during extreme cold for a second week in a row last week.Analysts, however, projected rising output and forecasts…
Venture Global says it has produced the first LNG at its Plaquemines plant.
Venture Global LNG produced its first LNG (liquefied natural gases) on Friday at its Plaquemines facility in Louisiana. The first U.S. plant to produce super-chilled natural gas in two years, Cheniere Energy Corpus Christi's midscale expansion project has been beaten to the market. Venture Global said that it had built two of its fastest…
Oil rises by 1% in a 3-week period as sanctions on Russia and Iran increase
The price of oil rose by about 1% on Friday to a record high for three weeks, as a result of expectations that additional sanctions against Russia and Iran would tighten up supplies. Lower interest rates in Europe or the U.S. may also boost the demand for fuel. . U.S. West Texas Intermediate crude (WTI), which is a blend of oil from Texas and Louisiana, rose by 79 cents or 1.1% at $70.81.
Venture Global Louisiana Plaquemines LNG Plant "on track"
U.S. liquefied natural gas (LNG) company Venture Global LNG's Plaquemines export plant under construction in Louisiana was on track to pull in enough natural gas on Friday to produce first LNG, according to data from financial group LSEG and energy analysts.Plaquemines was on track to pull in about 0.16 billion cubic feet per day (bcfd) of pipeline gas on Friday…
US offshore driller requests judge block insurers' demand for $250 million collateral
W&T Offshore is an independent driller in the U.S. Gulf of Mexico. It has asked a federal court to block the insurance companies' demand for $250 million additional collateral in exchange for tearing down old oil infrastructure. Offshore drilling companies are under increasing pressure to issue bonds for the decommissioning of oil and gas infrastructure within federal waters.
US offshore driller requests judge block insurers' demand for $250 million collateral
W&T Offshore is an independent driller in the U.S. Gulf of Mexico. It has asked a federal court to block insurance company demands for additional collateral of $250 million for tearing down old oil infrastructure. Offshore drilling companies are under increasing pressure to issue bonds for the decommissioning of oil and gas infrastructure within federal waters.
US Energy Department: Two LNG reviews must be waited for by regulator
The U.S. Department of Energy announced on Tuesday that it will not be able to finish its reviews of two proposed liquefied gas export terminals planned for Louisiana until an independent regulatory agency completes their environmental assessments of these projects. The Department of Energy said that it must wait until the Federal…
USDoE: LNG Reviews must await EIA's
The U.S. Department of Energy announced on Tuesday that it will not be able to finish reviews of two projects for liquefied gas in Louisiana until a regulatory agency independent of the Department has completed its environmental assessments.The DOE stated that it must wait until the Federal Energy Regulatory Commission (FERC) has completed its work to review export applications to countries where the U.S.
Woodside, a company from Australia, signs a deal with Bechtel for the development of Louisiana LNG.
Woodside Energy Group, an Australian company, announced on Thursday that it had signed a contract for engineering procurement and construction with Bechtel in the United States to develop liquefied gas project in Louisiana. The EPC contract covers the development of the foundations for the three production trains in the project, which have a combined capacity of 16,5 million tons per year.
