OPEC+ will discuss Kazakhstan's output at the Thursday meeting, sources claim
Two delegates said that eight OPEC+ nations meeting on Thursday, will focus on convincing Kazakhstan to stop exceeding their output quota as well as its plans to compensate overproduction while the group increases gradual production. Sources have said that the record Kazakh production has angered other members of OPEC+, including Saudi Arabia.
Malaysian palm oil rises in second session with support from rival oil
Malaysian palm futures rose on Thursday for the second time, following strength on the Dalian market as China switched to palm oil in response to a trade dispute with Canada. By midday, the benchmark contract for palm oil delivery in June on Bursa Derivatives Malaysia Exchange had gained 35 ringgit or 0.82% to 4,277 Ringgit ($965.90), a metric tonne.
Glencore refinery in South Africa invests in cleaner fuels
Astron Energy, an affiliate of the global commodity trader Glencore will invest up six billion rands ($328 million) in order to install new equipment, and to become compliant with South Africa’s cleaner fuel specification before a 2027 deadline. Astron officials have said that the foundations for a Gasoline Hydrotreating Process, which will reduce petrol to Euro 5 specifications has already been laid in the 100…
Egypt talks to Excelerate Energy about floating gas unit, says ministry
The Egyptian petroleum ministry announced on Thursday that it is in discussions with Excelerate Energy about a floating storage unit and regasification (FSRU). This will help to ensure a steady supply of natural gas for the Egyptian market. According to a statement, Steven Kobos CEO of Excelerate Energy expressed his company's willingness to supply the FSRUs necessary to Egypt.
Egypt leases German gas liquefaction units to boost production
The Egyptian Petroleum Ministry announced in a Tuesday statement that Egypt plans to lease an German floating gas-liquefaction unit. Egypt, the largest Arab country by population, is seeking to increase production of its offshore giant Zohr gas field in order to meet the rising demand for domestic gas during the summer heat. Eni, the operator of Zohr…
Prices of EUROPE GAS are rising amid higher demand and lower Norway exports.
Dutch and British wholesale prices of gas rose on Tuesday morning due to lower Norwegian exports into Europe and increased demand. The benchmark front-month contracts at the Dutch TTF Hub were up 0.64 euros at 41.68 Euro per Megawatt Hour (MWh) at 0932 GMT, LSEG Data showed. The contract for the month of May increased by 1,15 euros to 41,66 euros/MWh.
Baghdad seeks to replace Iranian gas after US action on Iraq-Iran energy trade
Baghdad, which has been unable to import electricity from Iran due to U.S. sanctions, is now looking at Qatar and Oman, should Washington also impose the same restrictions on their gas trade, according to the head of Iraq's South Gas Company. A spokesperson for the State Department said that President Donald Trump’s administration revoked…
Vitol signs 10-year LNG contract for delivery to Philippines
Vitol, a global energy trading company, announced that it had signed a long term deal with a Philippine-based entity to supply LNG to the country starting in 2025. It is the first long-term LNG supply agreement signed in the Philippines. The country only started importing super-chilled fuels in 2023. In a 10-year deal with LNGPH, Vitol has agreed to supply LNG up to 0.8 millions tons annually.
Equinor Norway LNG plant will be off-line March 10-14
According to a Friday regulatory filing, Equinor will shut down its Hammerfest LNG Terminal from March 10 through March 14 to perform "corrective maintenance". This will reduce the daily production capacity from 18.4 millions cubic metres to zero. The Hammerfest plant (also known as Melkoeya LNG) has the ability to deliver approximately 6.5 billion cubic meters of gas each year.
Data shows that Portovaya, Kryogaz-Vysotsk and other Russian LNG exporters have stopped LNG exports due to sanctions.
LSEG data on Thursday showed that two small-scale Russian LNG producers located along the Baltic Sea shores, Portovaya LNG, and Kryogaz Vysotsk have stopped LNG deliveries. This is due to the U.S. sanctions. Washington introduced new sanctions last month against Russia for the conflict in Ukraine. These included the two nuclear plants. There was a grace period up until the 27th of February.
US Energy Secretary attacks "sinister" net zero goals and singles out Britain
Chris Wright, the U.S. Energy secretary, called Monday's pledge to reach net zero carbon emission by 2050 "a sinister goal" and criticized British efforts to meet clean energy targets. The former president Joe Biden has set an ambitious goal for 2021: to reduce emissions to zero by 2050 in order to combat climate change. This will be achieved…
Adani Total Dhamra terminal expansion is not imminent, CEO claims
Adani Total, an Indian joint venture, has not yet conducted feasibility studies for doubling the capacity of the LNG terminal at Dhamra. Chief Executive Surjeet S. Lamba said this on Thursday. This comes a year after Adani Total announced that it was planning to expand its terminal. Lamba stated that the 5 million tonnes per annum (mtpa)…
BP plans to add six new gaswells to the Azeri Caspian sea field in order for it continue production.
BP will add six new gas wells in Azerbaijan’s Shah Deniz field in the Caspian Sea in order to maintain stable production for the future, a senior manager from the international energy giant said. BP operates 21 gas-wells in Shah Deniz. This area is being developed by a BP led consortium, and is crucial to Azerbaijan’s commitment to increase gas exports to Europe, offering an alternative to dwindling Russian supply.
Total CEO: Company rejected Venture Global LNG as supplier due to lack of trust
TotalEnergies has rejected the opportunity to be a long-term client of Venture Global LNG U.S. Terminals, because it does not trust them, said CEO Patrick Pouyanne on Wednesday. Venture Global, the U.S.'s most valuable LNG company, has seen its stock price soar after a massive initial public offering (IPO) last month. However it has faced…
Germany builds up LNG import terminals
Germany is expanding its natural gas import options to replace Russian supply, a drive intensified by the latest suspension of Russian flows via Ukraine and U.S. President Donald Trump targeting Europe with liquefied natural gas exports.Plans also include shore-based regasification terminals and facilities to import and produce ammonia and green hydrogen under decarbonization strategies.
Germany builds LNG import terminals
Germany is increasing its natural gas imports to replace Russian supplies. This drive has been intensified due to the recent suspension of Russian gas flows via Ukraine, and U.S. president Donald Trump's targeting Europe with LNG exports. Here are some details about the terminals that will be developed to house floating storage regasification (FSRU) units for seaborne LNG.
Golden Pass LNG, a former contractor, will emerge from bankruptcy at the end of March
The Texas contractor who last year walked away from the Golden Pass project of a liquefied gas plant, a joint venture with Exxon Mobil and QatarEnergy, may be able to exit Chapter 11 bankruptcy by April, according to the company. Zachry Holdings announced that the U.S. Bankruptcy Court of the Southern District of Texas approved its reorganization plans on Friday…
Golden Pass LNG, a former contractor, will emerge from bankruptcy in April
The Texas contractor who last year walked away from the Golden Pass project of a liquefied gas plant, a joint venture with Exxon Mobil and QatarEnergy, may be able to exit Chapter 11 bankruptcy by April, according to the company. Zachry Holdings announced that the U.S. Bankruptcy Court of the Southern District of Texas approved its reorganization plans on Friday…
Canadian farmers warn Bunge Viterra's takeover of Bunge will reduce competition
Farmers say that Canada's approval for Bunge's $34 billion takeover of Glencore's Viterra by U.S. grain traders Bunge will reduce their ability to sell crops at competitive rates and that the government has not made enough concessions. The approval of Canada with conditions, on Tuesday, was the last step needed to complete the largest global agriculture merger in dollar terms.
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…
