South Korea's KOMIPO cancels plans for LNG import terminal

South Korea's Korea Midland Power Co. (KOMIPO) has cancelled plans to build a liquefied natural gas (LNG) import terminal on the western coast of the country due to high costs and declining demand for the fuel.

Australia's Woodside Energy to buy US LNG developer Tellurian for $1.2 billion

Australia's Woodside Energy said it had agreed to buy U.S. liquefied natural gas developer Tellurian, including its U.S. Gulf Coast Driftwood LNG export project, for $1.2 B including debt.

Power Knot LLC receives continued orders from ExxonMobil PNG for food waste digester consumables, spare parts

Power Knot LLC, a market leader for onsite organic waste management solutions, has received additional orders for food waste digester consumables and spare parts from ExxonMobil PNG.

Azerbaijan says it will raise gas exports to Europe to 13 Bm3 in 2024

Azerbaijani President Ilham Aliyev said the country will raise natural gas exports to Europe this year to 13 Bm3 as it moves towards a target to help the European Union (EU) replace Russian energy imports.

Global LNG: Asia spot prices supported by Freeport LNG outage, summer demand

Asian spot liquefied natural gas (LNG) prices held steady this week on the back of support from an outage at U.S. Freeport LNG which saw some cargo cancellations, and as summer weather boosted demand.

Venice Energy welcomes underground gas storage expansion project in South Australia

The gas storage expansion project means that Venice Energy's terminal will be able to cover any forecast gas shortfalls in both Victoria and South Australia.

Iran to receive 300 MMm3d of Russian gas

Iran will receive 300 MMm3d (millions of cubic meters per day) of Russian gas. Russian energy giant Gazprom signed a memorandum in June with the National Iranian Gas Company to supply Russian pipeline gas to Iran.

Russian pipeline gas exports to EU up 24% y/y in January–June

Russian natural gas exports via pipelines to the European Union countries have jumped by 24% in the first half of the year from the same period in 2023.

Russia's Arctic LNG 2 gas output slashed in May

Russia's sanctions-hit Arctic LNG 2 project, which started production in December but has yet to begin exports, slashed its natural gas output in May.

Singapore's 1H 2024 bunker sales rise on year but June sees a monthly decline

Sales of marine bunker fuel at Singapore climbed 8.5% in 1H 2024, official data showed on Monday, as shipping disruptions in the Red Sea boosted global bunkering demand, though demand slowed month-on-month in June.

Shell's bet on gas boom takes shape with string of deals

Shell has replaced liquefied natural gas (LNG) volume it lost after exiting Russia in 2022 with a string of deals that underpin CEO Wael Sawan's bet on growing demand for the fuel as he reduces the focus on renewable energy.

bp Energy Outlook: Two main scenarios see 2025 oil peak, rapid renewables growth

bp expects oil demand to peak next year and wind and solar capacity to grow rapidly in both of the two main scenarios in its annual Energy Outlook, a study of the evolution of the global energy system to 2050 the company published on Wednesday.

Japan builds gas markets in Asia to boost LNG trading, energy security

Japanese companies—foreseeing a growing surplus in stocks of liquefied natural gas (LNG) as their demand for the fuel wanes in coming years—are scrambling to invest in regional markets to provide potential outlets to sell the gas.

Global LNG trade increased more than 1.6 Bcf/d in 2023

LNG trade increased 3.1% globally in 2023 to average 52.9 Bcft/d, an increase of 1.6 Bcf/d from 2022, according to a report from the International Group of Liquefied Natural Gas Importers (GIIGNL).

Russia boosts LPG rail exports to China by almost a third in H1

Russia cranked up liquefied petroleum gas (LPG) exports to China via rail by almost a third in the first half of the year to 133,000 metric tons (t).

Austria appoints commission to try to ditch Russian gas contract

Austria's energy minister has appointed a commission of experts to examine whether Austria can scrap a gas-supply contract between OMV and Gazprom to reduce its dependence on Russia.

Shell awards Wood major engineering contract for world’s largest floating offshore gas facility

Wood, a global leader in consulting and engineering, has secured a six-year contract to provide brownfield engineering, procurement and construction management (EPCm) solutions for Shell’s Prelude floating liquified natural gas (FLNG) facility in Western Australia.

Norway keen to explore hydropower, CCS projects in Indonesia

Norway is seeking to form a stronger partnership with Indonesia and explore investment opportunities in renewable energy such as hydropower, and carbon capture and storage (CCS).

Australian regulator warns east coast to face gas shortage by 2027

Australia's east coast could face gas shortages from 2027, a year earlier than initially forecast, the country's competition regulator said on Friday, as it called for an urgent need to develop new sources of production and supply.

ADNOC's Ruwais LNG to earmark 40% stake to Shell, Total, bp, Mitsui

Abu Dhabi National Oil Co. (ADNOC) has earmarked a 40% stake in its Ruwais liquefied natural gas (LNG) project to four energy majors: Shell, TotalEnergies, bp and Japan's Mitsui.

Bangladesh's Summit LNG expected to resume operations in mid-July

The floating storage and regasification unit of Bangladesh's Summit LNG should resume operations in mid-July after it was damaged during a cyclone.

Vitol invests in future of LNG bunkering by securing three LNG bunkering vessels

Vitol has secured three LNG bunkering vessels. The vessels were secured via a 7 yr-10 yr time charter agreement with Avenir LNG Limited and CIMC Sinopacific Offshore & Engineering Co. Ltd shipyard in Nantong, China.

Wood awarded concept study for Greater Sunrise LNG development

Wood will deliver a comprehensive concept study, considering engineering, technology, financing, commercial structures, fiscal, environmental, health & safety and socioeconomic drivers including local content.

China completes its largest LNG storage base

A subsidiary of China National Offshore Oil Corporation (CNOOC) has completed the construction of China's largest liquefied natural gas (LNG) storage base, a move that aims to ensure energy security and support green growth in the Yangtze River economic belt.

TES, Itochu Corp. team up for decarbonization efforts via e-NG

TES announced a strategic collaboration with Itochu Corporation aimed at driving forward the adoption of e-NG to decarbonize hard-to-abate sectors.

Russia will start gas exports to China from far east in 2027

Russia's Gazprom will start annual pipeline gas exports to China of 10 Bm3 in 2027.

Baker Hughes awarded multi-year contract by Woodside Energy to support Australian LNG operations

Baker Hughes announced it has entered into a new 10-yr services frame agreement with Woodside Energy to support its LNG operations in Australia.

Worley to provide FEED services to help Australia Pacific LNG extract gas from the Angry Jungle gas field

Worley has been awarded the front end engineering and design (FEED) on a new natural gas compression facility in Queensland, Australia, by Origin, as Upstream Operator of Australia Pacific LNG (APLNG).

Russian court orders Italy's UniCredit to pay $480 MM over aborted gas project

A Russian court has ordered Italian bank UniCredit to pay €448.2 MM ($479.44 MM) in a lawsuit over an aborted gas project brought by St. Petersburg-based RusChemAlliance, a joint venture 50% owned by Russian gas giant Gazprom.

New DNV survey highlights oil and gas sector paradox

The latest DNV survey, “The Paradox of Petroleum—How the oil and gas sector is transforming through uncertainty,” gathered insights from nearly 450 senior oil and gas professionals to examine rapidly evolving trends and the near-term outlook for the sector.