US natgas manufacturers chase AI-driven surge of power demand to weather low price
Shale gas producers are contacting data-center operators in the U.S. Permian Basin to build up the capacity needed to power an AI boom. They want to relieve the pressure of a two-year-old slump in prices. Devon Energy, Expand Energy Diamondback Energy and Permian Resources highlighted the potential of AI and data centres to drive gas…
US natural gas drillers will increase output in 2025, reversing a year-long cut
The U.S. Natural Gas producers will increase output in 2025 after a series production cuts this past year. Rising demand from LNG export plants should raise prices, which had dropped to multi-decade lows. According to the latest U.S. Energy Information Administration outlook, U.S. natural gas production will decline in 2024, for the first drop since 2020 when the COVID epidemic reduced demand.
Change of Ørsted Region Americas CEO
Ørsted announced today that David Hardy, Group EVP and CEO Americas, has decided to leave the company to join GE Vernova as Chief Commercial Officer, Wind. He will step down from his position effective November 30.The search for a successor Region Americas CEO is well underway. In the interim period, Ørsted's Chief Commercial Officer and Deputy CEO…
Baker Hughes: US drillers reduce oil and gas rigs in the US for the first time in 4 weeks.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies have cut back on the number of oil rigs for the first time since four weeks. The number of oil and gas drilling rigs, a good indicator of future production, dropped by one in the week ending Nov. 15 to 584, the lowest level since early September. This is a reduction of 34 rigs, or 6% from the same time last year.
US natgas exports to LNG plants are on track to reach a 9-month high
According to data provided by financial firm LSEG, the amount of gas going to seven large U.S. liquefied gas export plants is on track to reach a new nine-month record on Thursday. This was due to feedgas reaching multi-week records at a few plants. Energy market is concerned about feedgas flow to U.S. Liquefied Natural Gas plants…
Sources say that Venture Global LNG is planning to raise $3 billion from its US IPO.
According to sources familiar with the situation, Venture Global LNG plans to raise up to $3 billion in its New York initial public offering. This could happen as early as this year. The people who spoke to Venture Global said that the company is in discussions with Goldman Sachs, JPMorgan Chase and other banks about the listing plan.
Henry Hub natgas price drops to a 25-year low, while Waha is in negative territory
According to LSEG's pricing data, U.S. natural gas spot prices fell to a new 25-year low in Louisiana at the Henry Hub benchmark and entered negative territory at the Waha hub for the 47th consecutive time. The energy traders noted that the mild weather this year has had a negative impact on Henry Hub prices next day, resulting in lower heating and cooling demands than usual.
US federal energy revenues to fall 10% by 2024 but remain among the highest ever
The U.S. Interior Department reported that federal revenue from energy production in public lands and water fell 10% to $16.4 billion during the last fiscal year. Interior Department announced on Friday. This was the fourth-highest year since 1982, and the lowest total since 2021. Biden's administration has implemented policies that will help the transition from fossil fuels to renewable energy sources…
Baker Hughes: US Rig Count Remains Steady
U.S. energy firms this week kept the number of oil and natural gas rigs operating unchanged for a record third week in a row, according to energy services firm Baker Hughes' data going back to 1987.The oil and gas rig count, an early indicator of future output, was steady at 585 in the week to Nov. 8, Baker Hughes said on Friday. Baker Hughes said that puts the total rig count down 31 rigs…
Venture Global gets FERC Nod for LA LNG Plant
Federal regulators on Wednesday gave Venture Global LNG permission to introduce natural gas into its Plaquemines export plant in Louisiana, documents show, moving the plant a step closer to producing the superchilled gas.The 20 million metric tons per annum (MTPA) Plaquemines LNG plant will be the second-largest U.S. export facility when fully operational.
Who would be the best person to run Trump's energy policy?
Donald Trump, the president-elect of the United States, has pledged to overhaul U.S. Energy Policy. He aims to maximize oil and gas production in this country which is already at record levels by rolling back regulations and accelerating permits. Who will he select to lead the departments and agencies that are critical to completing this task? These are some names that have been considered.
Venture Global receives permission from federal regulators to add natural gas to LNG plant
Documents show that federal regulators granted Venture Global LNG approval on Wednesday to introduce natural gases into its Plaquemines Export Plant in Louisiana. This allows the plant to move closer to producing supercooled gas. When fully operational, the 20 million metric ton per annum (MTPA), Plaquemines LNG facility will be the second largest U.S. Export Facility.
Woodside and Tokyo Gas discuss stake in US LNG Project
Tokyo Gas and Woodside Energy are in discussions about a possible stake in the multi-billion dollar Louisiana LNG export project. Two people familiar with these talks confirm this. Woodside, a major Australian oil and natural gas company, closed a deal this month to buy Tellurian Inc., a developer that had put itself up for sale after running out of money while building a U.S.
US Steelworkers Union looks at clean energy to replace lost jobs at oil refineries
A union official stated that the United Steelworkers union will rely on clean energy projects in order to boost membership growth and offset losses at oil refineries and petrochemical facilities, even if Donald Trump is elected president on November 5. The USW, a union that represents 30,000 workers at crude oil refineries and petrochemical plants in North America…
Venture Global won't begin LNG deliveries to Italy Edison until 2025
Italian energy group Edison reported on Monday that U.S. Gas Exporter Venture Global LNG had told it to not expect contract cargoes until April 2025 from its Louisiana export facilities. Edison, along with Shell, BP, and Repsol, has filed contract arbitration against Venture Global over its failure to deliver contracted cargoes more than two years since it began exporting LNG from Calcasieu Pass LNG Plant.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 4 weeks.
Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first time since four weeks. The number of oil and gas rigs, a good indicator of future production, increased by one in the week ending October 11. Baker Hughes reported that the total number of rigs was down by 36 or 6% compared to this time last.
Shell denied by US regulator the request for documents older than Venture Global LNG
Shell lost its bid on Thursday to obtain access to non-public documents related to Venture Global LNG’s Calcasieu Pass plant. This is a setback to a larger dispute over the access to cargoes coming from the facility. Shell, BP and BP Galp have filed contract arbitration lawsuits in the U.S.A. and Europe over the status and inability of the plant to receive contract cargoes.
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024.
Maguire: Slow rollout of charge points could stall US EV sales momentum
The United States has seen a 140% increase in electric vehicle sales since 2023. However, further growth could be hindered if public charging stations are not rolled out more evenly and at a slower pace. According to the Alternative Fuels Data Center, U.S. electric vehicle registrations will reach just over 3.5 millions by September 2024.
Woodside completes Tellurian acquisition for $1.2 billion
Woodside Energy announced on Wednesday that it had completed the acquisition, including the debt, of U.S. Gulf Coast Liquefied Natural Gas export project developer Tellurian. Tellurian's shareholders voted last week in favor of the proposed acquisition by Australian energy producer. Woodside has announced that it is renaming the Driftwood Louisiana LNG opportunity to Woodside Louisiana LNG.
