economics

Asia spot LNG prices remain below $10/MMBtu for third week

Asian spot LNG prices have seen a slight uptick this week but remain below $10 per MMBtu for the third week running as weak demand continues to steer prices.

European and Asian companies affected by U.S. pause on LNG export permits

U.S. President Joe Biden's administration announced a pause on pending and future permits to export LNG to non-Free Trade Agreement countries until the Department of Energy finishes a new review of climate impacts.

U.S. LNG export pause leaves EU, industry at odds over energy security

Europe will have enough gas supply for the next 10 years and thereafter despite a move by the U.S. administration to pause approvals on new LNG plants, EU energy officials and analysts said, dismissing industry's warnings.

Mitsui records $93 MM more in provisions for sanctioned Arctic LNG 2 project

Japan's Mitsui & Co said it had recorded $93 MM as additional provisions on its investment in Russia's Arctic LNG 2 project sanctioned by the United States, but lifted its full-year profit forecast.

ERIKS North America honors founding legacy with rebrand to LGG Industrial

ERIKS North America, a provider of fluid handling, sealing, and material conveyance solutions, is rebranding to LGG Industrial.

Poland's Gaz-System chooses Mitsui O.S.K. Lines for FSRU

Polish pipeline operator Gaz-System has chosen Japan's Mitsui O.S.K. Lines to supply a floating storage and regasification unit.

Former Sempra Energy chief behind efforts to salvage Driftwood LNG project

U.S. LNG developer Tellurian chose a Lazard Inc. investment banker to right its struggling Driftwood LNG export project, the company's chairman told investors this week.

U.S. House of Representatives to vote on reversing Biden's LNG exports pause

The U.S. House of Representatives will vote next month on a measure to overturn the Biden administration's moratorium on approvals of new liquefied natural gas exports.

Phillips 66 shuts section of Oklahoma panhandle (U.S.) gas pipeline after fire

Phillips 66 said it has shut a section of a natural gas pipeline it operates in the Oklahoma Panhandle after a fire and rupture that occurred.

U.S. LNG export permit pause may affect Japan's fuel security

Japan's top power generator JERA expects the temporary suspension of U.S. LNG export permits may affect Japan's fuel security, and even the world's, if the issue persists.

Jenbacher engines to power Poland’s largest gas-fueled power plant, replacing coal power

INNIO Group announced that five Jenbacher J920 FleXtra engines will power a 50 MWe combined heat and power project in Bydgoszcz, Poland, for PGE Energia Ciepła S.A.

Japan worried U.S. pause of LNG export approvals may delay new projects

Japan, the world's second-biggest buyer of LNG, is concerned that a temporary suspension of U.S. export permits may delay the launch of new LNG facilities in the United States.

U.S. pause on LNG exports raises pressure on Canada, BC to do same

U.S. President Joe Biden's decision to pause expansion of American LNG exports has raised pressure from environmental groups on the British Columbia and Canadian governments to do the same, although following suit may be politically difficult.

India's Adani Total Gas posts Q3 profit rise on higher CNG sales

India's Adani Total Gas reported a nearly 18% rise in its third-quarter profit, boosted by strong sales of its CNG.

U.S. natural gas prices drop 8% on contract expiry, Freeport LNG unit outage

U.S. natural gas futures plunged about 8% in light trade ahead of the expiration of the February contract on forecasts that demand for the fuel for heating and export would remain low in coming weeks with mild weather and a unit outage at the Freeport LNG export plant in Texas.

Russia ready to discuss gas supplies with EU as Ukraine transit deal expires

Russia is ready to hold talks with the European Union on natural gas supplies as a transit deal with Ukraine expires at the end of 2024, Russian Deputy Prime Minister Alexander Novak was quoted as saying.

QatarEnergy, Excelerate Energy sign 15-year supply LNG deal

QatarEnergy and U.S.-based Excelerate Energy signed a 15-year agreement to supply 1 MMtpa of LNG to be delivered to Bangladesh for 15 years from January 2026.

Baker Hughes achieves new hydrogen milestones to accelerate transition to hydrogen economy

Baker Hughes, an energy technology company, announced several milestones to support the growth of the hydrogen economy, as part of the company’s broader strategy in new energy.

Reaction to the U.S. decision to pause LNG export reviews

The U.S. paused approvals of pending and future permits to export LNG to non-Free Trade Agreement countries, the biggest buyers of the U.S. fuel, to allow the Department of Energy to review LNG climate impacts.

Companies most affected by U.S. pause on LNG export permits

U.S. President Joe Biden's administration announced a pause on pending and future permits to export LNG to non-Free Trade Agreement countries until the Department of Energy finishes a new review of climate impacts.

U.S. natural gas prices ease 1% on warmer weather forecasts, low LNG feedgas

U.S. natural gas futures eased about 1% on forecasts for the weather to remain warmer than normal through at least the middle of February and the slow return of U.S. LNG export plants to full service after last week's Arctic freeze.

Freeport LNG faces month-long unit outage due to winter storm

Freeport LNG expects one of the three gas liquefaction units at its Texas plant to be out of service for a month after it faced a technical issue during Winter Storm Heather.

Japan's JOGMEC gearing up to support new LNG projects

The Japan Organization for Metals and Energy Security is preparing to give financial assistance to Japanese companies for new LNG projects to ensure a stable supply of the fuel.

Sanctions squeezing Sibur's supply of tankers for Ust-Luga LPG

Russia's largest petrochemical company and exporter of LPG Sibur is reducing LPG exports from the Baltic Sea port of Ust-Luga due to shortages of gas tankers amid sanctions.

Asia spot LNG prices remain flat below $10/mmBtu despite geopolitical risks

Asian spot LNG prices remained below $10 per mmBtu for the second week running, as solid inventories and mild weather continue to outweigh geopolitical risk related to the Red Sea conflict.

LNG developer Tellurian hires investment banker Lazard

LNG developer Tellurian has hired investment banker Lazard Inc amid a search for investors and customers for its Driftwood LNG export terminal.

U.S. to announce climate review of LNG export approvals

The Biden administration is expected to announce that it will begin considering climate impacts in its approvals of new LNG exports, a process that will likely delay decisions on new terminals until after the Nov. 5 presidential election.

Russia's Novatek to load first cargo from Arctic LNG 2 in February

Novatek, Russia's largest producer of LNG, may start loading first cargo from the Arctic LNG 2 plant in February.

U.S. natural gas prices slide 3% on warm forecasts, slow return of LNG feedgas

U.S. natural gas futures slid about 3% on Thursday on forecast for the weather to remain warmer than normal through at least early February and the slow return of U.S. LNG export plants to full service after last week's Arctic freeze.

White House pauses decision on Louisiana LNG export terminal

The Biden administration is delaying a decision on a Louisiana LNG export project that would be the United States' largest, but which has raised the ire of environmentalists.