economics

Australian government declares gas to be essential until 2050 and beyond

Australia's Future Gas Strategy highlighted a commitment for Australia to remain a reliable trading partner for liquefied natural gas (LNG), while underscoring the role of gas in Australia's energy mix until 2050 and beyond.

Trump vows to target EVs, LNG exports in meeting with oil CEOs

Republican presidential candidate Donald Trump vowed to reverse dozens of the Biden administration's environmental rules and policies at a meeting with top U.S. oil executives.

Naturgy: Gas supply contracts with Algeria unaffected by any shareholding change

Spanish energy firm Naturgy said that its gas supply contracts with Algeria do not include any clauses that would be affected by changes to its shareholding structure.

U.S. power and natgas prices turn negative in Texas, California and Arizona

U.S. spot power and natural gas prices turned negative in Texas, California and Arizona for Tuesday as pipeline maintenance trapped gas in the Permian Shale in West Texas amid low demand for energy and ample hydropower in the West.

EU eyes Russia LNG transhipment ban, tighter control of sanction busting

The European Union is looking to enact harsher sanctions against Russia, including holding LNG owners more accountable for receiving Russian natural gas shipments.

Sinopec in talks with Pembina for LNG offtake of Cedar LNG project

China's Sinopec is in discussions with Pembina Pipeline Corp for a LNG offtake agreement and equity stake in the $4-B, 3-MMtpy Cedar LNG project in British Columbia, Canada.

Japan aims for zero-carbon electricity generation

Over the last several years, the Japanese government has announced energy policies aimed to achieve carbon neutrality by 2050 by lowering emissions in the electric power, industrial, and transportation sectors.

U.S. natgas prices jump 5% on higher demand forecast, lower output

U.S. natural gas futures jumped about 5% on Thursday on a continued drop in output and more demand next week than previously expected is forecasted due to an increase in the amount of gas flowing to liquefied natural gas (LNG) export plants.

Gazprom plunges to first annual loss in 20 yr as trade with Europe hit

Kremlin-owned gas giant Gazprom revealed that it plunged to a net loss of 629 B roubles ($6.9 B) in 2023, its first annual loss in more than 20 yr, amid dwindling gas trade with Europe, once its main sales market.

U.S. LNG exports fall in April for fourth straight month

U.S. exports of liquefied natural gas (LNG) fell for a fourth consecutive month to 6.19 MM metric t in April from 7.61 MM metric t in March on production outages, preliminary data from financial firm LSEG showed.

IEEFA: Tidal wave of new LNG supply to flood market amid demand uncertainty

Sluggish demand growth for liquefied natural gas (LNG), combined with a record increase in global export capacity through 2028, will likely thrust markets into an extended period of oversupply, according to the latest Global LNG Outlook from the Institute for Energy Economics and Financial Analysis (IEEFA).

U.S. natgas flows rise to 3-week high as Texas Freeport pulls in more fuel

The amount of natural gas flowing to the seven U.S. LNG export plants was on track to rise by about 5% to a three-week high as Freeport LNG in Texas started to pull in more feedgas.

Turkey in talks with ExxonMobil over multibillion-dollar LNG deal

Turkey is in talks with U.S. energy giant ExxonMobil over a multi-billion-dollar deal to buy LNG, in an effort to curb its dependence on Russian energy.

bp signs long-term LNG agreement with Korea Gas Corp

bp has entered into a long term LNG sale and purchase agreement with South Korea's state run Korea Gas Corp.

PetroChina profit boosted by stronger gas sales and fuel demand

China's top energy producer PetroChina posted a 4.7% rise in first-quarter net income helped by growth in natural gas and a recovery in fuel demand.

Top Tellurian executives poised for big payday if LNG plant goes ahead

Top executives of U.S. LNG developer Tellurian Inc could earn tens of millions of dollars if its proposed Driftwood LNG plant gets a green light, or if company is sold.

As demand for U.S. LNG booms, one plant struggles to stay online

The second-largest U.S. LNG export facility has been running below 80% of its capacity due to technical problems, data from financial firm LSEG showed, denting U.S. exports.

Equinor's Hammerfest LNG plant outage extended

The planned restart of Equinor's Hammerfest LNG plant, which was evacuated and shut earlier this week due to a gas leak, has been postponed until Saturday, transparency data showed.

U.S. natgas drops on lower feedgas to Freeport LNG, storage surplus

U.S. natural gas futures slipped ahead of the expiration of the May contract, weighed down by a drop in feedgas to Freeport LNG's Texas export terminal and a huge surplus of gas in storage.

TotalEnergies chief calls potential EU sanctions on Russian LNG a financial boon

Sanctions on Russian gas from the Yamal LNG project would cause prices to spike and profit global gas sellers including TotalEnergies, chief executive Patrick Pouyanne said, in response to an analyst question about the impact of potential EU sanctions.

Aspen Technology introduces new strategic planning for sustainability pathways solution

Aspen Technology, Inc. introduced AspenTech Strategic Planning for Sustainability Pathways â€“ a new and unique integrated modelling and optimization solution that aims to guide companies in carbon capture utilization and storage decision making and sustainability strategy investments.

Asia spot LNG prices fall for first time in over two months

Asian spot LNG prices dropped slightly for the first time in more than two months this week over expectations of weak demand, amid easing concerns around supply due to tensions in the Middle East.

Shareholders’ Resolution: MOL to pay $668-MM dividend

At the Annual General Meeting of MOL Plc, shareholders approved the Board of Directors' financial performance report for 2023 and adopted the parent company- and consolidated financial statements.

European Commission expected to propose new sanctions on Russian LNG

The European Commission's next sanctions package is expected to propose restrictions on Russian LNG for the first time, including a ban on trans-shipments in the EU and measures on three Russian LNG projects.

U.S. natgas prices drop 5% on forecasts for less demand

U.S. natural gas futures slipped about 5% on an outlook for reduced heating demand next week and on the eve of a closely watched weekly federal storage report.

DTE Energy misses quarterly profit estimates on natgas unit weakness

Electric and gas utility DTE Energy missed Wall Street estimates for the first-quarter profit, hurt by weakness in its natural gas unit.

Equinor to expand LNG trading, eyes deals in Europe, Asia, senior exec says

Norwegian energy group Equinor plans to expand its LNG trading business and is in talks with a number of potential buyers in Europe and Southeast Asia.

First tanker in 12 days sets sail from Freeport LNG in Texas (U.S.)

The first tanker in 12 days set sail from Freeport LNG's Texas export terminal, signaling the resumption of gas processing after an outage this month.

Rising spot LNG prices starting to bite some Asian buyers

There are early signs that the rise in the spot price for LNG for delivery to Asia to a three-month high is starting to crimp demand from price-sensitive buyers such as India.

Steep discounts, new vessels spur demand for LNG to power ships

Demand for LNG to power ships will rise this year on attractive prices, while more dual-fuel vessels join the global fleet, industry executives said.