Vitol executive: Increased LNG supply in the coming decade will put pressure on the LNG market
The head of LNG for global trader Vitol, who spoke on Wednesday, said that a rapid increase in LNG supply in this decade will put downward pressure on the prices. Pablo Galante Escobar, speaking at the LNG2026 Conference in Doha (Qatar), said: "We are experiencing an unprecedented increase in the supply from 2024 to 2030. The LNG supply coming online between 2026-2029 has raised fears of a glut, which could lead to lower prices. Projects such as Golden Pass LNG along the U.S. Gulf Coast or Qatar's North Field Expansion are expected to provide significant volumes.
Prices for gas in Europe rise due to lower winds and tensions between the U.S. and Iran
The benchmark British and Dutch wholesale prices of gas rose, as fears about the increasing tensions between Iran and the United States and the declining wind output increased. LSEG data revealed that the benchmark Dutch 'contract for March' at the TTF hub had risen by 2.00 euros?to $33.30 per megawatt-hour, or $11.54/mmBtu by 0914 GMT. The Dutch April rate was up by 0.80 euros at 31.05 Euro/MWh. The British day-ahead contracts was up 2.62 pennies at 83.05 pence per therm. Prices have dropped significantly this week since U.S. president Donald Trump said that Iran had "seriously talked" to Washington over the weekend, which eased concerns of conflict.
What is the purpose of Europe? It must act fast: Stephen Jen
We all know someone who seems to be cursed with bad luck. Europe is beginning to resemble that unfortunate person, as it faces both internal and external problems. The region now needs a clear purpose and an ambitious plan to reach it. The challenges that Europe faces are external, like the fraying Transatlantic relations with the U.S. or the competitive pressures coming from China. Some of the challenges Europe faces stem from its past policies, such as over-regulation or an ill thought out energy strategy. These are in conflict with the goal to maximise economic growth and prosperity. The economic impact is clear in both cases.
Germany's Uniper stresses diversification and downplays the increasing reliance on US Liquefied Natural Gas
DOHA, February 4 - A top executive of German utility Uniper played down European concerns about increasing reliance on liquefied gas (LNG), which is imported from the United States. He said that companies sign contracts with 'firms, not governments', and stressed the importance of diversification. The transactional diplomacy of U.S. president Donald Trump and his pursuit to "energy dominate" have heightened European concerns over their heavy dependence on U.S. LNG. This has replaced the majority of volumes previously supplied by Russia. According to Kpler, the European Union's LNG exports from the U.S. will reach almost 60 million tonnes in 2025.
Eni's LNG market for 2026 is 'finely balancing' due to Asian demand and a thin supply
An Eni executive stated that the global LNG market will remain 'finely balanced' this year due to thin supply buffers and low European inventories, as well as a resurgent Asian demand. This leaves little room for weather-related shocks. Eni's Cristian Signoretto is the director of global gas and LNG portfolio. He said that Europe has very little storage, so we must replenish it this summer. He added that he expected Asia, China to recover a little from last year's low consumption, as prices would be lower than they were last year. Signoretto explained that if there is a sudden cold snap in the last months of winter…
Petronas signs a 20-year LNG Supply Deal with QatarEnergy
QatarEnergy has agreed to supply Petronas with 2 million metric tonnes of LNG per year in a deal lasting 20 years. This will help meet the country's increasing gas demand despite its dwindling gas reserves. Qatar signed a 27-year LNG deal with Japan in the last week, and this deal was the first long-term LNG supply agreement between the two nations. Petroliam Nasional (Petronas) is pursuing new investments in natural gas fields abroad, and is seeking partnerships with foreign companies to increase extraction. It also seeks LNG import deals due to the falling reserves of local reserves.
Sources say that the US will soon issue a general license for oil extraction in Venezuela
Three sources said that the U.S. is preparing to issue a general license allowing oil and gas companies to operate in Venezuela as soon as 'this week'. Washington aims to encourage increased production in the OPEC country since capturing the president. Sources said that the Office of Foreign Assets Control of the Treasury would allow companies to explore for and pump crude oil and gas. OFAC has already granted U.S. companies permission to store, refine and sell Venezuelan oil under a general license that was issued last month. On Tuesday, OFAC also issued a license for the sale of U.S. dilutients required to convert Venezuelan crude grades to exportable oil.
Commonwealth LNG signs 20-year supply agreement with Mercuria in response to US LNG export growth
Commonwealth LNG announced on Tuesday that it had signed a sale-and-purchase agreement for 20 years to supply Mercuria 1 million metric tonnes of liquefied gas per year. The deal stipulates that Mercuria would provide Commonwealth with the equivalent amount of natural gas (estimated at 133 millions cubic feet per day) and Commonwealth will convert it to LNG, which Mercuria can then purchase. Commonwealth, a company owned by energy asset management firm Kimmeridge and majority-owned by Commonwealth, is attempting to build America's first integrated export facility for LNG. Kimmeridge will provide gas from Eagle Ford shale to the plant.
Sources say that Malaysia's Petronas is set to sign a deal for LNG supply with QatarEnergy.
Two sources familiar with the matter said that Malaysia's state-owned company Petronas was set to sign a deal with QatarEnergy for the supply of liquefied gas. The southeast Asian nation is seeking more supplies of the super-cooled fuel. One of the sources said that Petroliam Nasional or Petronas will sign a deal for LNG up to 2,000,000 metric tons annually. According to Kpler data, Qatar was the second largest LNG exporter in the world after the United States. It shipped out 81.07 millions tons of fuel last year. QatarEnergy has signed a huge LNG deal with Japan’s Jera. The massive 'North Field expansion project' will produce the first LNG in 2026, during the second half.
QatarEnergy signs long-term LNG supply agreement with Japan's Jera amid surge in demand
QatarEnergy signed a contract with Japan's largest power generator Jera on Tuesday to supply 3,000,000 tons of LNG per year for 27 years starting in 2028. This deal will further strengthen Qatar's position on the Japanese market. The agreement was made at the LNG2026 Conference in Doha and would strengthen QatarEnergy’s position in Japan, as the competition from U.S. companies and Gulf rivals,?United Arab Emirates, and Oman who offer more flexible terms, intensifies. The two firms have been in talks for months. First reported the talks in 2025.
Castrol India's quarterly profits drop due to higher costs and one-time charges
The lubricant maker Castrol India reported a 9.9% decline in its fourth-quarter profit on Tuesday. This was due to higher raw material costs and an unforeseen?charge, which outweighed the boost from a sustained demand. Profit after tax for the company fell from 2.71 billion rupees to 2.45 billion (about $27.2 million) during the quarter ending December 31. The results include a?one-time charge of 225.3 millions rupees related to?India’s newly enacted labor code. Castrol India is a major supplier of lubricants for automakers such as?Maruti Suzuki, Hero MotoCorp and?Hyundai.
EUROPE GAS-European gas prices drop on warmer temperatures and US gas price drops
The benchmark British and Dutch wholesale gasoline prices dropped on Tuesday morning, as warmer temperatures were expected to?curb demand. This was followed by a market that had seen prices plummet in the U.S. after freezing temperatures eased. LSEG data shows that the benchmark?Dutch Front-Month Contract at the TTF Hub was down 2.17 Euros at 32.30 EUR per Megawatt Hour, or $11.18 /mmBtu by 0910 GMT. This week, the contract is down more than 20%. Analysts at Engie EnergyScan said in a daily report that the move was triggered by an easing of geopolitical risk and the strong downward correction on the U.S. Gas market. U.S.
Libya plans to increase gas exports to Europe before 2030
Massoud Suleman, Chairman of the National Oil Corporation said that Libya will increase its natural gas production in the next five to ten years to?have a greater supply available to export to Europe before early 2030. Suleman, who spoke at the LNG2026 Conference in Qatar, told the delegates that the country intends to increase its gas production by nearly 1 billion standard cubic feet per day and begin drilling for shale in the second half of this year. Foreign investors are wary about investing in OPEC-member Libya. The country has been?in a'state of chaos? since the 2011 overthrow of Muammar Gaddafi.
Libya plans to increase gas exports to Europe before 2030
Massoud Suleman, Chairman of the National Oil Corporation, said that Libya intends to?boost? its natural gas production over the next five to six years in order to increase supply to Europe before early 2030. Suleman, who spoke at the LNG2026 Conference, said that the country plans to increase its gas production up to a maximum of nearly 1 billion cubic feet per day. It will also begin drilling for shale-gas in the second half of this year. He said that Libya's 80 trillion cubic feet (80 trillion cubic meters) of gas resources are split between conventional and unconventional sources.
Activist shareholders ACCR and pension funds urge BP show that shift to oil will deliver value
UK pension funds, European activist shareholders and ACCR have urged BP to 'publish more information' to prove that its strategy to shift spending from low-carbon projects to oil and natural gas will bolster shareholder value. BP's then CEO Murray Auchincloss had announced a strategy shift back to hydrocarbons a year earlier, claiming that this would increase profitability after BP's predecessor Bernard Looney made ill-fated attempts at renewables. ACCR announced on Tuesday that it filed a joint resolution with a group of asset managers managing 191 billion pounds ($262 'billion).
The US LNG production was cut in January by the winter freeze; imports from Trinidad filled the gap.
LSEG's preliminary data shows that exports of liquefied gas from the U.S. in January fell to 11.3 million metric tons, down from December’s record of 11.5 MT. A winter freeze in late-January shut some plants while lowering output at others. On January 26, gas flows into U.S. liquefied natural gas plants reached a record low. Freeport LNG, the country's third largest LNG exporter, was partially offline during the freezing. Kinder Morgan's Elba Island plant in Georgia, which stopped taking in feedgas in the week before the freeze, imported LNG from Trinidad and Tobago. In the U.S., spot gas prices rose to record highs during the last week in January.
Qatar Energy CEO: By 2030, the LNG glut may be reduced to a gap due to AI power requirements.
Qatar Energy CEO Saad Al-Kaabi said on Monday that the expected global glut of liquefied gas could become a shortage in 2030 due to rising demand for gas and fuels, particularly in Asia. The LNG supply expected between 2026-2029, including projects such as Golden Pass LNG in the U.S. Gulf Coast region and Qatar's North Field Expansion are likely to be significant. Kaabi added that the demand expectation has increased "primarily due to...AI and data center needs". He told LNG2026 that if all of this pans out there will be a deficit, not an oversupply, by 2030.
According to QatarEnergy's CEO, the rising demand for AI-powered power could lead to a shortage of LNG in 2030.
Saad Al-Kaabi, CEO of QatarEnergy, said that the growing demand for electricity from AI and data centers, combined with an increase in fuel consumption in Asia and European gas requirements, could turn a global glut of liquefied gas into a shortage by 2030. Concerns about a glut of LNG, which could lower prices, have been raised by a record-breaking?wave? of LNG production, due to come online between 2026-2029. The new LNG supply is expected to be boosted by projects like the 'Golden Pass LNG' on the U.S. Gulf Coast, and Qatar North Field Expansion. Kaabi added that the demand expectation has increased "mainly because of...
Devon and Coterra merge in $58 billion deal to create U.S. Shale giant
Devon Energy and Coterra Energy decided on Monday to merge as part of a $58 billion all-stock transaction, creating a large-cap company with the top spot in the Permian Basin. The shale industry is consolidating to reduce costs and increase'scale. The largest deal in the sector, since Diamondback's deal of $26 billion for Endeavor Energy Resources 2024, comes at a time when a global glut of oil and the increasing likelihood that more Venezuelan barrels will return to the market are putting pressure on U.S. crude price margins. M&As have slowed in the sector in 2025. However, producers continue to pursue size advantages.
Energy Commissioner: EU's Russian import ban is legal and will stop 'blackmail,'
Dan Jorgensen, the EU's Energy Commissioner, told reporters on Monday in Lisbon that the decision to ban Russian imports was "100% legal", adding that it would prevent Russia weaponizing energy. Last week, European Union countries approved a law that will ban Russian gas imports until late 2027. This is a concrete step towards a political commitment to sever?energy relations with Moscow four years after Russia’s?full scale invasion of Ukraine. EU ministers approved this measure despite Hungary and Slovakia's opposition. Bulgaria abstained, and Hungary plans to contest it before the EU court. Jorgensen stated that Hungary is free to challenge this?law at court.