economics
Freeport LNG sues three contractors over defects at Texas plant
U.S. LNG exporter Freeport LNG filed a lawsuit in April against three contractors, alleging that installation defects in electric motors at its $14-B Texas export plant caused prolonged outages and costly repairs.
Golden Pass LNG construction turmoil to delay Texas plant's startup
The startup of Golden Pass LNG, the QatarEnergy and ExxonMobil $11-B JV LNG project in Texas, has been delayed by at least six months due to construction turmoil, according to analysts.
Scorching heat drives India's gas-fired power use to multi-year highs in May
Sweltering heat and policy measures are fueling a surge in the use of gas-fired power in India, with imports of LNG forecast to rise sharply over the next two years.
Norway eyes faster ramp-up of gas export to Britain
The resumption on Friday of Norwegian gas exports to Britain via the Langeled pipeline will progress at a faster pace than initially planned, Norwegian system operator Gassco said.
U.S. natural gas prices fell after a volatile 2022
As average prices of U.S. natural gas fell in 2023, natural gas prices also became less volatile compared with 2022.
Japan, EU agree to work on creating hydrogen demand and supply
Japan and the European Union agreed to work together on policies related to creating demand and supply for clean hydrogen as well as to cooperate in advancing technologies to develop the new fuel
Goldman Sachs: Global LNG market to grow by 50% by 2029
Growth in oil investment shows signs of peaking in non-OPEC countries, while investment in liquified natural gas (LNG) is expected to increase more than 50% by 2029, according to Goldman Sachs Research.
Extreme Asian heat spurs LNG demand ahead of summer months
Extreme temperatures across Asia are driving up liquefied natural gas (LNG) demand in the region as importers seek cargoes ahead of summer, with imports in South Asia hitting records.
Malaysia's Petronas Q1 profit falls on high costs, lower LNG prices
Malaysia's state energy firm Petronas, or Petroliam Nasional Berhad, reported a near 11% decline in first-quarter net profit on Friday due to higher operating costs and lower realized prices across its businesses.
Southeast Asia's $220-B gas expansion plans to boost power/LNG capacity
Southeast Asia has more than $220 B in projects that could raise Southeast Asia's gas-fired power capacity by more than 100 GW, doubling the current level, and raise LNG imports into the region by 80%.
ConocoPhillips to acquire Marathon Oil Corporation for $22.5 B
ConocoPhillips and Marathon Oil Corporation announced today that they have entered into a definitive agreement pursuant to which ConocoPhillips will acquire Marathon Oil in an all-stock transaction with an enterprise value of $22.5 B.
Argentina government unblocks key Petrobras gas shipment amid supply cuts
Argentina's government, facing domestic gas shortages and targeted service cuts, has unblocked the unloading of a key Petrobras gas shipment, which it added should stabilize local supply.
U.S. natgas prices slide 3% on rising output, high stockpiles
U.S. natural gas futures slid about 3% on Wednesday on signs some drillers were starting to pull more gas out of the ground and worries about the tremendous oversupply of gas still in storage.
Hess shareholders sign off on $53 B sale to Chevron
Hess shareholders approved the proposed $53 B merger with Chevron that paves the way for the No. 2 U.S. oil company to gain a prize asset and a foothold in rival ExxonMobil's massive Guyana discoveries.
Aethon Energy to buy Tellurian upstream assets for $260 MM
Aethon Energy will acquire Tellurian's upstream assets for $260 MM and purchase 2 MMtpy of LNG from its Driftwood LNG plant, the companies said on Wednesday.
UK's National Grid seeks buyer for Europe's biggest LNG terminal
British energy infrastructure operator National Grid said it is looking to sell its Grain liquefied natural gas (LNG) terminal in Britain, Europe's largest such facility, in a bid to streamline operations.
Asian spot LNG prices at five-month high on firm demand, geopolitical risks
Asian spot liquefied natural gas (LNG) prices surged to a five-month high, marking the fourth consecutive week of gains.
Energy Workforce responds to U.S. Energy Secretary's testimony on LNG export permit pause
Energy Workforce responds to U.S. Energy Secretary's testimony on LNG export permit pause
Australian natural gas industry seeks policy repairs to boost investment
Australia's natural gas industry executives are seeking more measures to restore an investment environment they say has been damaged by a series of state interventions to boost domestic supply and curb soaring energy prices.
Gato Negro Permitium Uno seeks U.S. DOE approval to ship gas to Mexico
Gato Negro Permitium Uno is seeking U.S. permission to export gas to Mexico, turn it into LNG and send it to countries with U.S. free-trade agreements.
Firm building QatarEnergy-Exxon LNG plant in Texas (U.S.) files for bankruptcy
The lead contractor building a Texas LNG plant for QatarEnergy and ExxonMobil on Tuesday filed for Chapter 11 bankruptcy protection, citing challenges at the project.
Lead contractor building Golden Pass LNG plant in Texas files for bankruptcy
On Tuesday, the lead contractor building a Texas liquefied natural gas (LNG) plant for QatarEnergy and ExxonMobil filed for Chapter 11 bankruptcy protection, citing challenges at the project.
Gas prices steady amid heavy Norway maintenance
Dutch and British wholesale gas prices were largely steady on Tuesday morning as the market was looking for any indication of potential extensions to Norwegian maintenance outages, which are at their heaviest this year so far.
Phillips 66 to buy Pinnacle Midland for $550 MM
Phillips 66 agreed to acquire Pinnacle Midland, a midstream company owned by private equity firm Energy Spectrum Capital, for $550 million in cash, expanding the U.S. refiner's natural gas gathering and processing footprint in the Midland Basin.
China LNG imports could hit record levels in 2024, says PetroChina
According to PetroChina, domestic LNG imports could reach between 78 MMtpy-80 MMtpy this year, with the industrial and commercial sectors driving demand.
Australia gas producers endorse govt strategy, warn of shortages this decade
Australia's energy producers endorsed a government strategy to boost natural gas development, but warned the country still faces new gas supply shortfalls this decade while markets remain volatile due to global conflicts.
ADNOC purchases stake/offtake from NextDecade LNG (U.S.)
ADNOC announced the acquisition of a 11.7% stake in Phase 1 of NextDecade's Rio Grande LNG, along with a 20-yr LNG offtake agreement from Train 4.
UAE's ADNOC planning US trading expansion
Abu Dhabi National Oil Company (ADNOC) is planning to set up a trading desk in the U.S. as part of the United Arab Emirates-backed oil and gas producer's global expansion efforts.
Waste manager WM explores $3 billion sale of renewable natural gas unit
Waste management firm WM is exploring a sale of its renewable natural gas business that could be worth about $3 B.
U.S. Republican lawmakers urge FERC to approve LNG applications
Two influential U.S. Republican lawmakers have urged the head of the federal energy regulator to process applications for LNG projects.
- Gasum powers Equinor's platform supply vessel with bio-LNG
- ADNOC deploys pioneering AI-enabled process optimization technology
- Mexico Pacific announces long-term LNG SPA with POSCO International
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Golar LNG signs EPC deal for $2.2-B MK II FLNG conversion project
