economics

U.S. regulators approve Mexico Pacific LNG's Saguaro connector pipeline

U.S. energy regulators approved a cross-border pipeline that would export about 2.8 Bcfd of natural gas from Texas to Mexico Pacific's Saguaro LNG export plant on Mexico's west coast.

Italy awaits EU clearance on $5.2-B tariff to cover gas storage costs

Italy's energy authority is awaiting clarity from the European Union on whether a planned tariff to cover costs of gas storage filling, potentially worth $5.18 B, is in compliance with the single market rules.

U.S. natural gas prices edge up from 3-1/2-year low ahead of storage report

U.S. natural gas futures edged up about 1% on forecasts for more demand over the next two weeks than previously expected, and as some producers said they would reduce output in 2024 after prices plunged to a 3-1/2-year low.

Shell's lofty ambitions for Asian LNG demand face price hurdle

Shell's forecast that global demand for LNG will surge by more than 50% by 2040 is both bold and questionable, with some of the underlying assumptions not supported by current trends, especially in the key Asia markets.

North Dakota natural gas output hits record high in December, flaring eases

Natural gas production in North Dakota in December rose to a record 3.525 Bcfd from the prior all-time high of 3.469 Bcfd in November, while gas flaring eased.

U.S. House passes bill to reverse Biden's LNG pause

A bill to strip the power of President Joe Biden's administration to freeze approvals of liquefied natural gas exports passed in the Republican-controlled U.S. House of Representatives on Thursday, but faces an uphill battle in the Senate.

FERC greenlights methane export pipeline for large-scale LNG supply to China via Mexico's Pacific Coast

In a split decision handed down today, the Federal Energy Regulatory Commission issued a Presidential Permit and granted authorization to allow Oklahoma-based Oneok Inc. to build the Saguaro natural gas export Pipeline.

Heidelberg Materials North America announces latest step in Edmonton CCUS Project

Heidelberg Materials North America announced a significant milestone in its two-stage competitive procurement process as it works to select the capture technology and contractor for providing the CO2 separation solution for its Edmonton, Alberta, Carbon Capture, Utilization, and Storage Project.

GTA LNG project reaches major milestone with arrival of FLNG vessel

The FLNG vessel that is a core component of the Greater Tortue Ahmeyim LNG project has arrived at its destination on the Mauritania and Senegal maritime border.

STX Group announce unique financing partnership with Biovalue for Dutch biomethane plant

STX Group announced the financing partnership with BioValue for the construction and development of the Groengas Cothen biomethane plant.

Cyprus could produce first natural gas as soon as 2026

Cyprus could start producing its first natural gas as soon as 2026 and plans to participate in a high-powered electricity cable project linking the eastern Mediterranean to continental Europe.

Japan gas utility lobby says U.S. remains key LNG supplier

The head of Japan's gas utilities group said the United States, the world's biggest exporter of LNG, remains an important supply source for Japan despite the recent pause in U.S. LNG export permits.

EU sees no need to extend deal on Russian gas transit via Ukraine

The European Union sees no need to extend an agreement to transport Russian gas to Europe via Ukraine, ahead of the contract's planned expiry at the end of the year.

Industry to drive tripling of natural gas consumption in India by 2050

In EIA's International Energy Outlook 2023, it was projected that natural gas consumption will more than triple in India by 2050 with an annual growth of 4.4% over that period, more than twice the 2.0% annual growth rate of natural gas consumption in China, the next-fastest-growing country.

ADNOC and bp to form gas joint venture

ADNOC and bp announced that they have agreed to form a new JV in Egypt which will combine the pair’s deep technical capabilities and proven track records as it aims to grow a highly competitive gas portfolio.

Kazakhstan's TCO cranks up LPG exports to Finland

Kazakhstan's Tengizchevroil exported about 2,000 metric tons of LPG to Finland by rail last month as the company seeks to expand in new markets.

U.S. president Biden's pause on LNG approvals will not hit Europe short-term supply

President Joe Biden's decision to pause approvals of new exports of LNG will have no affect on U.S. supplies to Europe over the next two or three years, a European Commission official said after meeting U.S. officials.

Iran's main gas pipeline hit by sabotage, oil minister says

Two explosions along Iran's main south-north gas pipeline network were caused by sabotage, the Iranian oil minister told state TV, without naming any suspects.

U.S. LNG export terminal permit pause could boost coal use abroad, says Williams CEO

The Biden administration's pause on approving permits for U.S. LNG export terminals could backfire by boosting coal usage overseas, Alan Armstrong, CEO of U.S. natural gas pipeline operator Williams Companies said.

Chesapeake Energy Corporation, Delfin LNG and Gunvor sign long-term LNG liquefaction offtake agreement indexed to Japan Korea Marker

Chesapeake Energy Corporation, Delfin LNG LLC and Gunvor Group Ltd, through Gunvor Singapore Pte Ltd, today announced the entrance into a LNG export deal that includes executed Sales and Purchase Agreements for long-term liquefaction offtake.

Victaulic acquires Utility Coatings & Fabrication, Inc.

Victaulic, a manufacturer of mechanical pipe-joining, fire protection and flow control solutions, acquired Utility Coatings & Fabrication, Inc., located in West Jordan, Utah.

Austria seeking to end Russian gas import contract, energy minister says

Faced with stubbornly high Russian gas imports as the war in Ukraine rages on, Austria is seeking to take more radical steps, including ending energy company OMV's long-term contract to buy gas from Gazprom.

Former Trump, Bush officials urge Congress to reverse Biden's LNG pause

Dozens of former officials from the past two Republican U.S. administrations urged Congress to reverse the Biden administration's pause on approvals of LNG exports, saying the shipments promote global stability.

National Grid, Constellation Energy agree on LNG supply deal for Massachusetts (U.S.) facility

Britain's National Grid said it reached an agreement with gas-supplier Constellation Energy that would allow it to keep operating its Everett gas-import terminal for six years.

NYK takes delivery of Japan’s first LNG-fueled capesize bulk carrier

A naming ceremony was held for an LNG-fueled capesize bulk carrier that was ordered by NYK and will be deployed to transport iron ore and coal from Australia to Japan under a long-term consecutive voyage charter contract with JFE Steel Corporation.

Diamondback in $26-B deal to buy Endeavor Energy in growing Permian push

Shale producer Diamondback Energy, said it would buy the largest privately held oil and gas producer in the Permian Basin, Endeavor Energy Partners, in a cash-and-stock deal valued at about $26 B, including debt.

ADNOC Gas reports 24% Y-o-Y increase in Q4 2023 net income to $1.35 B

ADNOC Gas plc and its subsidiaries, a world-class integrated gas processing company, today announced its consolidated financial results for the three months ended December 31, 2023 and for the period from 8 December 2022 to 31 December 2023.

Russia extends permit for LNG supplies to Germany's SEFE until 2040

The Russian government has extended a permit for its Yamal LNG plant to supply LNG to German nationalized gas importer and trader SEFE until Dec. 31, 2040.

Spain's gas imports down 5% in January from same month last year

Spain's natural gas imports fell more than 5% in January compared to the same month a year earlier, data from Spanish grid operator Enagas showed.

LNG export review should weigh impact on green hydrogen market

A review of U.S. LNG that the Energy Department will conduct during a pause on new permits should weigh the impact of gas exports on the development of the emerging green hydrogen market.