Business & Markets
Gas Producer Energean Is Looking to Increase Israel FPSO Capacity, CEO Says
Gas producer Energean is looking at options to increase the capacity of its floating production storage and offloading (FPSO) vessel off Israel to 12 Bcm a year, CEO Mathios Rigas told Reuters on Thursday.
Russia Hopes to Seal Power of Siberia 2 Deal with China This Year
Moscow is eyeing the 2,600 km (1,620 mile) pipeline — which would have a capacity of 50 Bcm of gas per year — as a way to replace lost exports to Europe.
US Energy Secretary Says It Could Take Years to Refill Oil Reserve
It could take years for the United States to refill the Strategic Petroleum Reserve, the energy secretary told lawmakers on Thursday, after sales directed by President Joe Biden last year pushed the stockpile to its lowest level since 1983.
Editor’s Notebook: Getting the CO2 Out
(P&GJ) — Navigator Heartland Greenway has voluntarily withdrawn its application for a certificate of authority to build a 250-mile portion of its CO2 pipeline through a part of western Illinois, but the company said it plans to refile soon.
IPC CEO Urges Canada to Offer More Funding to Build Carbon Capture
International Petroleum Corp., the first foreign oil company to sanction a project in Canada's oil sands in more than a decade, could add carbon capture and storage (CCS) to the plant if more government financial incentives become available, its CEO told Reuters.
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.
Explainer: Does China Need More Russian Gas Via the Power-of-Siberia 2 Pipeline?
Russian President Vladimir Putin and Chinese leader Xi Jinping met in Moscow for two days of talks which ended Tuesday, during which they discussed a major new infrastructure project, Power-of-Siberia 2, to deliver gas to China via Mongolia.
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.
Azerbaijan's January-February 2023 Oil Exports Via BTC Pipeline Rise 6.9% from 2022
Azeri oil exports through the Baku-Tbilisi-Ceyhan (BTC) pipeline via Georgia and Turkey were up by 6.9% in January-February 2023 from a year earlier at 4.6 million tonnes, the State Statistics Committee said on Friday.
Insight: Huge Phillips 66 Biofuels Project Will Test the Industry’s Green Promises
In the oldest refining town in the American West, Phillips 66 is promising a greener future as it moves to halt crude-oil processing and build a massive renewable diesel plant.
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.
China Strengthened Energy Ties With Russia Through Oil and Gas Purchases in 2022
Putin, Xi and the president of Mongolia held talks in September 2022 on a proposed new Power of Siberia 2 pipeline capable of delivering 50 bcm of gas per year from Russia to China via Mongolia. Moscow put forward the idea many years ago, but it has gained urgency as Russia turns to China to replace Europe as its major gas customer.
Netherlands to Build Hydrogen Production Facility, Use Existing Gas Pipeline for Transport
The new hydrogen plant will be connected to an offshore wind farm off the coast of the northern province of Groningen, where the hydrogen could be transported to land by using an existing natural gas pipeline.
Edison to Make Final Investment Decision on Mediterranean Gas Pipeline by Years-End
The EastMed-Poseidon pipeline, which would initially connect several gas fields offshore Israel to Italy and have an annual capacity of 10 billion cubic meters of gas, could be ready by 2027, Edison said.
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.
Study Finds Potential for Massive North Sea Hydrogen Pipeline Network
The study, commissioned by German gas pipeline operator Gascade, says that up to 300 terawatt hours a year of clean hydrogen made from North Sea offshore wind power could be transported by the grid.
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.
Australian LNG Exports May Be Diverted to Mitigate Winter Gas Shortage
Despite increased production commitments from the industry since last year, the supply in southern Australia is declining rapidly, raising risks of near-term shortages and long-term supply gaps, the Australian Energy Market Operator said.
Exxon Considers Selling Stake in LNG Terminal Offshore Italy
Exxon Mobil Corp. is considering selling its majority stake in Italy's main regasification terminal as part of a wider strategy to divest from noncore assets, the company said in a statement on Wednesday.
Green Groups Sue Biden Administration Over Approval of Alaska Willow Oil Project
Six environmental groups filed a lawsuit on Tuesday over the Biden administration's approval of ConocoPhillips' Willow oil and gas project in Alaska, which they claimed could be a stepping stone to more development in an ecologically sensitive region.
Osaka Gas to Secure More LNG Than Usual in FY23/24 Amid Tight Global Supply
Japan's Osaka Gas Co. Ltd. plans to secure more LNG than usual in the financial year starting in April to ensure a stable supply of the fuel as global supply is expected to stay tight, its president said on Wednesday.
Mongolia to Decide on Gas Pipeline Route After Russia-China Cost Agreement
Mongolia will make a decision on which part of its territory will be used to construct the Russia-China gas pipeline once its neighbors reach an agreement on costs, the country's prime minister said.
- Trump Aims to Revive 1,200-Mile Keystone XL Pipeline Despite Major Challenges
- Valero Considers All Options, Including Sale, for California Refineries Amid Regulatory Pressure
- ConocoPhillips Eyes Sale of $1 Billion Permian Assets Amid Marathon Acquisition
- ONEOK Agrees to Sell Interstate Gas Pipelines to DT Midstream for $1.2 Billion
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- U.S. LNG Export Growth Faces Uncertainty as Trump’s Tariff Proposal Looms, Analysts Say
- Tullow Oil on Track to Deliver $600 Million Free Cash Flow Over Next 2 Years
- Energy Transfer Reaches FID on $2.7 Billion, 2.2 Bcf/d Permian Pipeline
- GOP Lawmakers Slam New York for Blocking $500 Million Pipeline Project
- Texas Oil Company Challenges $250 Million Insurance Collateral Demand for Pipeline, Offshore Operations
