Processing/LNG
Energy Trader Gunvor Posts Record $2.36 Billion Net Profit in 2022
Gunvor's rivals also had a bumper year amid high price volatility and as Russia's war in Ukraine reshaped global commodity flows, with Vitol and Mercuria previously posting record net profits of $15 billion and $2.98 billion, respectively.
Shell Sees Stronger LNG Volumes and Oil Product Performance in Q1
Shell, which recorded a record $40 billion profit last year, said in an update ahead of results due on May 4 that it expected first-quarter liquefaction volumes of 7 to 7.4 million tonnes, up from 6.8 million tonnes in the previous quarter.
Tellurian to Sell Land for $1 Billion and Lease Back for Driftwood LNG Project
U.S. LNG developer Tellurian Inc. has entered into an agreement with an institutional investor to sell 800 acres of land in Louisiana for $1 billion, a regulatory filing by the company showed on Thursday.
QatarEnergy Awards LNG Contract to Baker Hughes for North Field South Gas Project
(P&GJ) — Baker Hughes has been awarded a contract from QatarEnergy to supply two main refrigerant compressors for the North Field South project, which will be executed by Qatargas. The project will boost Qatar’s LNG production capacity from 110 million to 126 million tons by 2027.
Technip Energies Bags LNG Contract Valued at $273 Million
(P&GJ) — Shaanxi LNG Reserves & Logistics Co. Ltd. has given Technip Energies a large contract for the 3 million normal cubic meter per day Xi'An LNG Emergency Reserve & Peak Regulation Project in China. The deal is valued between $54.53 million and $272.67 million.
US LNG Exports Back on Rising Track, Reached Record in March
U.S. producers of LNG last month regained momentum as the country's second-largest exporter Freeport LNG ramped up output, sending total shipments to an all-time record of 7.73 million tonnes, data showed on Monday.
Philippines Set to Receive First-Ever LNG Cargo for Power Generation
The Philippines has bought its first-ever LNG cargo, which will be delivered this month, bound for a new terminal that will fuel a 1,200-megawatt power plant, global energy trader Vitol said on Monday.
China’s LNG Imports to Show Small Rebound in 2023
The import rebound could be smaller than some analysts anticipate because domestic gas production is rising strongly and the country has mostly completed its transition to natural gas for urban residents.
Venture Global LNG Delays Commercial Ops at Calcasieu Pass in Louisiana
U.S. liquefied natural gas company Venture Global LNG told federal energy regulators and customers this week that it needs to make repairs at Calcasieu Pass in Louisiana that will delay the start of the export plant's full commercial operations.
Finland's Floating LNG Terminal to Receive First Commercial Cargo
Finland is set to receive the first commercial delivery of LNG to the Inkoo floating terminal set up to replace Russian gas supply after the start of the war in Ukraine.
Analysts: Financial Hurdles Rise for Green-Lighting New US LNG Plants
The banking crisis added a new snag to rising interest rates and supply chain shortages for these multibillion-dollar projects, which months ago were seen as sure bets. Two of four new projects aiming for a financial okay this quarter have been pushed back, and others will face that higher bar, said analysts.
QatarEnergy Picks Up Stakes from Exxon in Canadian Offshore Blocks
Qatar's state-owned energy company on Wednesday signed a deal to acquire from Exxon Mobil stakes in two Canadian offshore explorations block, the latest in the Gulf state's efforts to expand its global oil and gas portfolio.
EU Countries Seek Legal Option to Stop Russian LNG Imports
European Union countries agreed on Tuesday to seek a legal option to stop Russian companies sending LNG to EU nations by preventing Russian firms from booking infrastructure capacity.
SocGen Says It Has Pulled Out of NextDecade’s Rio Grande LNG Project
Societe Generale pulled out of Texas-based energy company NextDecade's Rio Grande LNG project last year, the French bank disclosed for the first time on Tuesday, in news that could help explain the project's repeated delays.
ConocoPhillips to Pay $500 Million to Raise Stake in Australia's APLNG
ConocoPhillips currently holds a 47.5% stake in APLNG, one of the largest suppliers of natural gas to Australia's East Coast. Origin and China's Sinopec hold the remaining shares in APLNG.
Virginia Natural Gas Receives Approval for Renewable Natural Gas Pilot Program
(P&GJ) — The five-year pilot program will allow for the production and delivery of RNG into Virginia Natural Gas' pipeline system and support the procurement of both RNG and next-generation natural gas.
Spain Asks Gas Importers to Wean Themselves Off Russian LNG
The Spanish government has asked LNG buyers to refrain from signing new contracts for Russian gas once existing contracts have expired, two sources familiar with the matter told Reuters on Friday.
CEO: Gunvor to Expand in United States After Strong Profits
Energy trader Gunvor made strong profits last year and is looking to expand its oil trading and develop a significant power trading arm in the United States, its CEO told Reuters.
TotalEnergies' Bet on Gas Means No Big Emissions Cut by 2030
French oil major TotalEnergies forecasts its overall greenhouse gas emissions will not see a big reduction by 2030 given it wants to grow its gas business, executives said in an update on its climate strategy on Tuesday.
Lukoil-backed Congo Project to Begin LNG Output in December
Lukoil Vice President Ivan Romanovsky said the initiative will produce around 600,000 tonnes of LNG per year, and that Lukoil plans to boost total LNG output at the Marine XII oil and gas project in the Congo to 3 million tonnes by the end of 2025.
Sempra Reaches Final Investment Decision on Port Arthur LNG Plant's Phase 1
U.S. power and gas utility Sempra Energy said on Monday the first phase of its proposed Port Arthur LNG export terminal received the financial greenlight to move ahead with investment firm KKR & Co. agreeing to a minority stake in the project.
Canada's B.C. Province Sets High Emissions Bar for New LNG Projects
British Columbia's decision this week to toughen emissions standards for new LNG projects creates one of the most robust climate plans in North America, but sets a high hurdle for industry even as many countries look to Canada to become a global supplier of gas.
Kremlin: Turkish Gas Hub is Complex, Will Require Time
President Vladimir Putin proposed the idea of a Turkish gas hub - the exact details of which remain unclear - last year as European countries moved to sharply cut their imports of Russian gas in response to Russia's military actions in Ukraine.
Thailand Approves Nearly $1 Billion Investment in LNG Terminal Project
"The projects that have been granted investment privileges today will help strengthen the country's infrastructure, which is a key factor in attracting more foreign investment," Mr. Narit Therdsteerasukdi, Secretary General to the BOI, told reporters at a briefing held at Government Houses after the board meeting chaired by Prime Minister General Prayut Chan-o-cha.
Germany Cannot Rule Out Gas Shortage Emergency for Winter 2023/24
Additional risks could be posed if Germany's planned liquefied natural gas import infrastructure does not work and if neighboring countries require supply support from Europe's biggest economy down the line.
Norway Named Europe’s Largest Gas Supplier in 2022 as Russian Flows Drop
Norway exported more than 120 billion cubic meters of gas in 2022, mainly via pipelines, making it Europe's largest gas supplier following a drop in Russian flows last year.
British Columbia Toughens Emissions Standards for New LNG Projects
As part of a new energy action framework, the western Canadian province will require proposed LNG projects that are going through or entering the environmental assessment process to have a credible plan to be net-zero emissions by 2030.
Repsol Ditches Plans to Develop LNG Terminal on Canada’s East Coast
"Following a study carried out by the company, it was determined to not continue with the Saint John liquefaction project as the tolls associated to it made it uneconomical," a Repsol spokesperson said in a statement.
Strikes at LNG Terminals and Gas Refineries Continue in Response to French Pension Reform
At least seven LNG ships heading to France have changed course to terminals in Britain, the Netherlands and Spain since the strike action started. The closure of French terminals for another week would significantly hamper France's ability to export gas to neighboring countries.
India Seeking Delivery of Eight LNG Cargos to First East Coast Terminal
The Dhamra terminal by Adani Total Private Ltd will be India's first one on the east coast. It is expected to receive its first LNG cargo in April and begin commercial operations 30 to 45 days after receiving the shipment.
- Phillips 66 to Shut LA Oil Refinery, Ending Major Gasoline Output Amid Supply Concerns
- FERC Sides with Williams in Texas-Louisiana Pipeline Dispute with Energy Transfer
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- U.S. Appeals Court Blocks Kinder Morgan’s Tennessee Pipeline Permits
- Malaysia’s Oil Exports to China Surge Amid Broader Import Decline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Marathon Oil to Lay Off Over 500 Texas Workers Ahead of ConocoPhillips Merger
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
