economics
Driven by petrochemical capacity builds, U.S. ethane increased 9% in 2022
In 2022, U.S. ethane demand increased by approximately 9%, or almost 0.2 MMbpd, according to the U.S. EIA's Petroleum Supply Monthly.
US nat gas futures ease 1% to 2-wk less cold forecasts
U.S. natural gas futures slid about 1% to a two-week low on Friday on forecasts for less cold weather and lower heating demand over the next two weeks than previously expected.
LNG to lead U.S. natural gas exports
Exports of LNG will continue to drive growth in U.S. natural gas exports over the next two years, according to the U.S. EIA.
Natural gas essential to the energy transition says Australian PM
New gas projects will play a role in the energy transition, Australian Prime Minister Anthony Albanese said, as his administration seeks to pass a reform to an emissions reduction bill amid growing pressure to ban new fossil fuel projects.
Novatek needs to find more natural gas for LNG plans
Russian Deputy Prime Minister Alexander Novak said on Tuesday the country needed to identify the resource base for about a third of its planned annual production of 100 MMt of liquefied natural gas (LNG) per year.
Braskem Idesa and Advario partner to build a new, $400-MM ethane export terminal in Mexico
Braskem Idesa and Advario partner to build a new, $400-MM ethane export terminal in Mexico
Tellurian chairman's shares sold to cover loan
U.S. LNG developer Tellurian said over $25.3 MM worth of its shares belonging to Executive Chairman Charif Souki were transferred and sold over the last month to cover a loan, securities filings showed.
Asian spot LNG prices continue to decrease
Asian spot LNG prices continued their downtrend this week, hitting the lowest level since July 2021, due to tepid demand which is expected to last until the end of March.
Germany LNG import bill to eclipse $10 B
Germany said that new infrastructure for floating LNG terminals will exceed previously expected costs, forewarning taxpayers that there will be a price to pay for energy security.
U.S. nat gas futures rose 3% on more feedstocks flowing to LNG terminals and increased heating demand
U.S. natural gas futures rose about 3% to a five-week high on Friday, with the amount of gas flowing to U.S. LNG export plants set to hit a daily record high and on forecasts for colder weather and higher heating demand in two weeks than previously expected.
India's NSE receives regulatory okay for natural gas futures
India's National Stock Exchange (NSE) said that the country's market regulator has approved the launch of rupee-denominated NYMEX crude oil and natural gas futures contracts in its commodity derivatives segment.
Enbridge to invest $2.4 B in natural gas and renewable power in 2023
Enbridge will invest $2.42 billion in natural gas and liquids infrastructure and in renewable power this year.
CAPP forecasts upstream oil/gas production to reach nearly $30 B in 2023
The Canadian Association of Petroleum Producers (CAPP) said it expects oil and natural gas investment in upstream production will reach C$40 B ($29.4 B) in 2023, surpassing pre-COVID levels.
Tellurian faces setback in $12.5-B Driftwood LNG project
Commodities trader Gunvor can walk away from a 10-year, $12 B commitment to buy LNG if Tellurian's Driftwood LNG project lacks a financial go-ahead, project financing and a full construction authorization by March 1.
Venture Global to provide LNG to Excelerate Energy from its Plaquemines LNG plant in Louisiana
Venture Global LNG said it would supply 700,000 tpy of LNG to Excelerate Energy for 20 years.
Enagas purchases gas pipeline network from Reganosa
Spanish grid operator Enagas has bought a 130-km gas pipeline network from energy firm Reganosa while selling the latter a 25% stake in its El Musel regasification plant in northern Spain.
WFW advises Hoegh LNG on refinancing options for German FSRUs
Watson Farley & Williams advised Höegh LNG on the refinancing of the Höegh Esperanza and Höegh Gannet FSRUs that will service Germany’s new FLNG terminals in the North Sea ports of Wilhelmshaven, Lower Saxony and Brunsbüttel, Schleswig-Holstein.
bp confirms Phase 2 of the Greater Tortue Ahmeyim LNG project
bp and partners confirmed the development concept for the second phase of the bp-operated Greater Tortue Ahmeyim LNG project that they will take forward to the next stage of evaluation.
CNPC shuffles regional offices to better support global portfolio
China's CNPC has completed a months-long reshuffle with the addition of six regional offices that report to Beijing headquarters to better coordinate and supervise its sprawling global portfolio.
Asian LNG spot prices fall to lowest level since July 2021
Asian spot LNG prices eased this week, extending declines to its lowest since July 2021, as demand from key buyers in northeast Asia remain weak.
ADNOC looks to raise up to $2 B from IPO of gas unit
Abu Dhabi National Oil Co (ADNOC) said it has set a price range for an initial public offering (IPO) of its gas unit that could raise up to $2 B and give ADNOC Gas an equity valuation of $47 B-$50.8 B.
Cheniere Energy doubles revenue on surging LNG demand
Cheniere Energy said its full-year revenue more than doubled and also topped analysts' estimate on surging demand for the commodity since Russia's invasion of Ukraine.
Tokyo Gas to free up funds to focus on decarbonization
Japan's Tokyo Gas will cut shareholder returns from the next financial year and use freed up funds to invest in technology to slash its carbon emissions.
U.S. natural gas futures rose more than 2% on forecasts for colder weather
U.S. natural gas futures rose more than 2% on forecasts for colder weather
Falling gas costs, rising carbon prices spur change in fuel dynamics
Falling gas prices over recent weeks have paired with rising coal and carbon costs to make European power generation from gas-fired power plants more economical, marking a trend reversal since coal took over as the cheaper fuel source last year.
Japex lifts FY22/23 profit forecast on higher natural gas prices
Japan Petroleum Exploration Co. Ltd. (Japex) has lifted its full-year net profit forecast by 13% on higher selling prices of natural gas and electricity to domestic customers, and also raised its annual dividend estimate.
Woodside, partners to pick plan for Timor Sea Sunrise gas project soon
Woodside Energy Group and its partners on Monday formally committed to working rapidly to pick the best option for developing the Greater Sunrise natural gas field, factoring in for the first time the potential benefits for East Timor.
Bangladesh could buy 10–12 spot LNG cargoes in Feb–June
Bangladesh will buy 10–12 spot LNG cargoes between February and June if prices soften further, an energy adviser to the prime minister told Reuters on Monday, in a reversal of a government decision last year to halt spot purchases after prices spiked.
Asian spot LNG prices decline, but enough to tempt buyers?
The momentum in global liquefied natural gas (LNG) markets swung away from Europe and back to Asia in January, but the modest increase in demand wasn't enough to buoy spot prices.
Managing the new risk profile of energy transition projects
The time is ripe to realize the vision of a clean energy future.
- Cheniere signs deal with Bechtel to expand U.S. LNG export capacity
- TC Energy approves $1.5-B Columbia Gas expansion after profit tops estimates
- Wärtsilä continues to expand its data center footprint with new 790 MW order in Texas
- Baker Hughes’ fuel flexible NovaLT™ 16 gas turbine certified by RINA for marine propulsion
- U.S. natural gas exports to grow nearly 30% by 2027 as LNG facilities ramp up
