Commonwealth LNG receives US approval to export non-FTA products for 20 years
Commonwealth LNG, a U.S. company, has been granted a 20-year export license from the Department of Energy for liquefied?gas to be exported from its proposed Louisiana plant to countries that do not have free trade agreements. The company also received approval for 25 years of exports to FTA countries. The authorizations become effective either when the facility begins exporting commercially, or after seven years from the date of the grant.
Analyst: Myanmar to resume LNG imports following cargo received last month
Myanmar will resume LNG imports in 2019 after receiving half of a cargo of the super-chilled fuel last month. This marks an end to a four-year-long hiatus of shipments. After the civil war, shipments of LNG to Southeast Asia were stopped. Since then, Myanmar has experienced gas shortages and widespread blackouts. Analyst Nelson Xiong said that Kpler expected Myanmar to import 0.4 millions tons of LNG by 2026. Two'restarted' or upgraded LNG to power projects will ramp up to a total 500 megawatts.
Australia requires LNG exporters to retain a minimum for the home market
Australia's new scheme will require exporters of liquefied?gas to keep up to 25% of their output for domestic use. The plan was announced on Monday in an effort to curb price spikes and fill a supply gap that has been predicted. The government of Anthony Albanese, a centre-left Prime Minister, said that it would work closely with exporters to create a system which limits the amount of domestic gas. A minimum allocation at local level is between 15 and 25 percent.
Australia is preparing to review its gas market, which could affect LNG exports
Australia will soon issue a review of the gas market that could limit exports from its east coast. Three operators, led by Shell and Santos, send cargoes to Asia. They said that the review, which they expect Canberra to release this week, may 'include a plan for LNG exporters to prioritize local supply in the populous east, the main source of domestic demand. Tony Wood, energy analyst at Melbourne's Grattan Institute, said that the government is trying to solve a difficult problem.
Shell-led LNG Canada’s second processing unit is still down, according to sources
Two sources have confirmed that Shell-led LNG Canada’s second processing unit known as Train 2 is still down almost a month after it was first started up. On November 20, the company announced that a restart was scheduled for December 1, and would last approximately two weeks. On Thursday, a spokesperson for LNG Canada stated that it would provide an update this week. The complex, located in Kitimat (British Columbia)…
TotalEnergies and Petronas get the green light for exploration in Guyana
TotalEnergies and Petronas are oil producers who have signed an agreement for five years with the Guyana government to explore shallow-water blocks, officials and executives of both companies said on Tuesday. Guyana is struggling to diversify its industry. Its energy sector is currently dominated by an Exxon Mobil-led consortium, which controls all oil and gas production since Guyana became a producer of crude oil in 2019.
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LNG Canada announces that it has begun production at its second unit.
The company announced that LNG Canada had begun producing liquefied gas in the second of two processing units. This unit is known as Train 2. A spokesperson said that both trains of the Shell-led Kitimat project, each with a 6.5 million ton capacity per year, are now operational. LNG Canada, Canada's first major LNG export plant and first facility on the West Coast of North America to provide direct access into Asia, the largest liquid fuel market in the world, is now operational.
Eni and Petronas combine Indonesian and Malaysian assets in joint venture
Eni, the Italian energy company, and Petronas, Malaysia's state-owned energy company announced on Monday that they had signed an agreement for a joint venture to combine their upstream oil assets and gas assets located in Indonesia and Malaysia. NewCo will manage 19 assets in Indonesia and Malaysia. It plans to invest $15 billion over the next five-year period to develop and explore about 3 billion barrels in discovered reserves. The agreement was signed in Abu Dhabi at ADIPEC.
Eni increases share buybacks after Q3 results better than expected
Eni, the Italian energy company, announced on Friday that it would increase the share buybacks by 20% following better than expected third quarter results. The company posted a net profit adjusted of 1,25 billion euros in the third quarter. This was slightly below the 1,27 billion euro profit reported in the same period last year. Eni announced that it would increase its share buyback for 2025 by 20%, to 1.8 billion Euros. This is due to the fact that pro-forma debt levels are near historic lows.
Santos' GLNG facility will stop purchasing Australian domestic gas by 2027
Santos' Gladstone Liquefied Natural Gas plant (GLNG) in Australia will cease buying gas produced domestically to meet export contracts, according to its CEO on Tuesday. This could help ease the supply shortages on Australia's east coast. GLNG's CEO Stephen Harty stated that the company spent about A$1billion ($650m) a year on developing its own tenements, building its own supply and eventually would cease all domestic purchases of gas.
Eni will launch a joint venture with Petronas Gas in 2026
Guido Brusco said that Eni's gas joint venture will be up and running by the end of next year. He is the chief operating officer for global natural resources at Eni. Both companies announced in January that they would be moving forward with the project of developing gas assets in Malaysia, Indonesia and other countries. Petronas said it could take up to two years for regulatory approval, but the exact timeline was unclear.
Commonwealth LNG wants to extend the time for building a planned export facility in Louisiana
A regulatory document indicates that Commonwealth LNG asked federal regulators to extend the construction period and start shipping of liquefied gas from an export facility proposed in Cameron Parish, Louisiana by four years. Commonwealth wrote to the Federal Energy Regulatory Commission to explain that the extension was necessary due to a pause in approvals implemented by the former U.S. president Joe Biden.
Commonwealth LNG wants to extend the time for building a planned export facility in Louisiana
A regulatory document shows that Commonwealth LNG asked federal regulators to extend the time period by four years for construction and export of liquefied gas from an export facility proposed in Cameron Parish, Louisiana. Commonwealth wrote to the Federal Energy Regulatory Commission to explain that the extension was necessary due to a pause in approvals implemented by the former U.S. president Joe Biden, last year.
Malaysia's Petronas Gas receives a nod for its internal reorganisation
Malaysia's Petronas Gas Berhad announced on Wednesday that the Finance Ministry has approved a tax exemption for a proposed reorganization plan which will transfer its core business to three wholly owned subsidiaries. Petronas Gas is a subsidiary of Petronas Group. In a filing to the stock exchange, the company said that, following approval by the Board of July 23, the Ministry had approved the tax exemption. The letter was sent on September 24, and received on September 30.
Petronas confirms its gas supply commitments following Malaysian court victory
The Malaysian state-owned energy company Petronas stated on Wednesday that they remain committed to meeting their contractual obligations and maintaining a reliable gas supply for customers following a Court of Appeal decision that favored the firm in a case with Shell MDS Malaysia. Petronas has welcomed the decision of the High Court to overturn an injunction that would have allowed Shell MDS (a unit of Shell's gas-to liquids division) to stop its monthly payments to Petronas as early as August 2024.
Shell MDS ordered to pay Petronas for gas overdue payments by Malaysian court
Local media reported that the Malaysian Court of Appeal overturned an injunction by the High Court that allowed Shell MDS Malaysia to stop its monthly payments of gas to national energy company Petronas as of August 2024. According to The Edge, the three-judge panel unanimously ruled that Petronas had not breached its agreement, since it continued to supply gas to Shell MDS during the dispute. Shell MDS received competing invoices for 80 million ringgit from Petronas as well as Petros…
State media report that Malaysia's deputy PM claims Petronas was threatened to "burn" LNG facilities
According to state media, the Malaysian authorities issued a security warning for liquefied gas facilities after an employee of state energy company Petronas was threatened by telephone to burn them down. Petronas or Petroliam Nasional Berhad confirmed that it is working with the authorities following a directive from the National Security Council to tighten security at LNG facilities in Sarawak on Monday.
Executives warn that US tariffs are worsening challenges for the petrochemical sector.
TotalEnergies' executive said that U.S. Tariffs could cause a 15% decline in global petrochemicals trade. This was revealed at the APPEC Conference in Singapore, held on Tuesday. Ganesh Gopalakrishnan's, TotalEnergies head of petrochemicals, said on the sidelines APPEC that if tariffs are kept in place the petrochemicals trade will drop another 15% on top of the previous 34% decline it has experienced in the last five year.