economics

Lower LNG prices trigger surge in Asian spot market purchases

Price-sensitive LNG buyers from China, India and parts of Southeast Asia are snapping up more spot shipments of the fuel to power industries and generate electricity after prices have fallen to the lowest level in nearly three years.

Samsung Engineering rebrands name to 'SAMSUNG E&A'

The company name change to SAMSUNG E&A CO., LTD. was confirmed during the 57’s general shareholders' meeting on 21 March 2024, where the change of articles of incorporation were passed.

German Stade LNG hub agrees on land-based terminal from 2027

Backers of the LNG terminal in Germany's Elbe river port of Stade have taken a final decision to build a land-based terminal from 2027, costing around $1.1 B.

Venture Global approved to re-introduce hazardous fluids at Louisiana (U.S.) LNG plant

U.S. LNG company Venture Global LNG received U.S. regulatory approval to re-introduce hazardous fluids into "HRSG 372" at the company's Calcasieu Pass LNG export plant in Louisiana.

Freeport LNG plans to raise production 10% by June

Freeport LNG said that it will increase its production of LNG at its Texas (U.S.) facility by June and is working on installing additional compressor capacity across its three trains.

Suriname presses Exxon, TotalEnergies to combine gas developments

Suriname's state-owned oil company Staatsolie has begun talks with oil majors Exxon Mobil and TotalEnergies to encourage joint development of natural gas fields that straddle its and Guyana's maritime borders.

Freeport LNG says Trains 1, 2 at Texas (U.S.) facility seen shut until May

Freeport LNG said its Train 2 liquefaction unit at the Texas plant has been shut down, while Train 1 will be taken down imminently as it expects inspections and any subsequent repairs at both the units to be completed by May.

Saudi Aramco gas output to rise 60% by 2030

Saudi state energy giant Saudi Aramco will increase gas output by 60% by 2030, Aramco's Executive Vice President for Strategy and Corporate Development Ashraf Al Ghazzawi said at an energy conference.

Natural gas intrastate pipeline capacity additions outpaced interstate additions in 2023

In 2023, 5.2 Bcfd of natural gas intrastate pipeline capacity was added in the U.S., according to EIA's recently updated Natural Gas Pipeline Projects Tracker and are within a single state and are regulated by state agencies.

Petronas starts construction of floating LNG facility for Argentina

Malaysia's state energy firm Petronas has begun the construction of a floating LNG processing unit to be placed off the coast of Argentina, which aims to begin exports by 2027.

Global LNG market will 'be tight' until 2026 - TotalEnergies CEO

The global LNG market will be tight until 2026, Patrick Pouyanne, CEO of TotalEnergies, said at a conference in Houston.

European coal-to-gas fuel switching set to continue this year

The fall of European wholesale gas prices to levels from before the Ukraine war and greater use of renewable energy is encouraging more electricity utilities to ditch heavily polluting coal, further pushing coal out of the power mix.

Europe requires greater infrastructure to cut reliance on Russian gas

Europe will need to come up with more infrastructure if it is to replace Russian gas as thoroughly has it has crude oil, oil and gas executives said at an energy conference.

Methane to become key criteria for future EU energy imports

The EU will increasingly use methane emissions as a criteria for deciding who it buys energy from in the future, an official said at a U.N. methane conference, urging other major importers to do the same.

U.S. natgas prices up 3% to 1-week high on colder forecasts, lower output

U.S. natural gas futures climbed about 3% to a one-week high on forecasts for colder weather and higher heating demand over the next two weeks than previously expected.

Viridi Energy developing renewable natural gas facility in Maine (U.S.)

Viridi Energy said it has acquired a biosolids digester plant in Brunswick, Maine, (U.S.) as part of its plans to develop a facility to convert waste into RNG in the state.

CERAWeek - Lower LNG prices should boost gas demand, executives say

LNG prices have fallen about a third over the past nine months, propping up demand, which should tighten the LNG market in the near-term, executives said at the CERAWeek energy conference.

TES partners with 7 large international companies to create a global e-NG coalition

TES has entered into an MOU with other large international companies to sponsor the creation of a global coalition, the e-NG Coalition, which is exclusively dedicated to electric natural gas (e-NG or e-natural gas), also referred to as e-methane.

Ukraine has no plan to extend Russian gas transit deal

Ukraine said it does not plan to prolong a five-year deal with Russia's Gazprom on the transit of Russian gas to Europe or to sign another one.

U.S. natgas prices jump 4% on colder forecasts, lower output

U.S. natural gas futures jumped about 4% on forecasts for colder weather and higher heating demand over the next two weeks than previously expected, and on a continued drop in U.S. output after gas prices collapsed to a 3-1/2-year low in February.

Venture Global LNG to buy fleet of vessels

Venture Global LNG said it would acquire a fleet of nine LNG transport vessels, expanding its ability to sell and ship its own cargoes.

LNG developer Tellurian to explore sale among other options, CEO steps down

Tellurian said it was looking at all options, including a potential sale, and that CEO Octavio Simoes had stepped down from his role, amid the LNG developer's efforts to keep its Driftwood export project alive.

Germany's Stade LNG terminal to receive first vessel

Germany's LNG terminal in the Elbe river port of Stade expects its first floating regasification vessel to arrive, the state-appointed manager of regasification terminals said.

Germany builds up LNG import terminals

Germany's Elbe river LNG port at Stade expects its first floating regasification vessel to arrive, shortly after the first arrival of LNG at the Baltic Sea terminal of Mukran.

Venture Global LNG asks U.S. energy regulator to keep documents confidential

LNG exporter Venture Global LNG delivered to U.S. regulators a proposed protective order seeking to keep documents on the construction of a Louisiana export facility confidential.

U.S. natgas prices rise 8% on larger-than-expected storage withdrawal

U.S. natural gas futures rebounded from an early two-week low to gain about 8% after a weekly report showed a larger-than-expected storage withdrawal.

TC Energy to sell Prince Rupert pipeline project to Ksi Lisims LNG partners

TC Energy has agreed to sell its Prince Rupert natural gas pipeline project to two partners in Ksi Lisims LNG, a proposed Canadian export terminal.

bp in talks with Venezuela and Trinidad governments to develop gas field

bp Venezuela confirmed they are in talks with Trinidad and Tobago government to develop a shared offshore gas field in the Caribbean.

Technip Energies and GE Vernova drive UK's net-zero with gas power and carbon capture project

Technip Energies, leader of a consortium with GE Vernova, and construction partner, Balfour Beatty, received a Letter of Intent from bp, on behalf of NZT Power Limited for the execution phase of the Net Zero Teesside Power in the UK.

U.S. natural gas prices firm as investors await storage report

U.S. natural gas futures gained, having hit their lowest in more than two weeks earlier, as investors awaited a weekly storage report that is expected to show a much smaller-than-usual storage withdrawal on lower heating demand.