Business & Markets
Indonesia's Medco Energi Signs 5-Year Gas Supply Contract with Singapore
Indonesian oil and gas group Medco Energi Internasional Tbk (MedcoEnergi) has signed an agreement with Singapore to continue supplying the city state with gas for five years, beginning August 2023.
Sempra Set to Approve Port Arthur LNG Export Plant in Q1 2023
California energy company Sempra Energy said Thursday that its Sempra Infrastructure unit planned to greenlight the first phase of its proposed Port Arthur LNG export plant in Texas during the first quarter of 2023.
Forty Countries Expected to Unveil Methane Plans at UN Climate Summit
Some forty of the 119 countries that pledged last year to slash emissions of the powerful greenhouse gas methane will unveil their plans to do so at the UN climate summit next week, according to a senior U.S. official.
US Sells Last Batch of Emergency Reserve Oil from Historic Release
The U.S. Department of Energy on Thursday said it sold 15 million barrels of oil from the Strategic Petroleum Reserve to six companies, completing the last batch of the largest-ever release from the stockpile announced by President Joe Biden in March.
US Natural Gas Falls 5% on Big Storage Build, Lower Demand Forecast
U.S. natural gas futures fell about 5% on Thursday on a bigger-than-expected storage build and forecasts for lower demand over the next two weeks than previously expected.
IEA: Europe Must Act Now to Avoid Winter 2023 Gas Shortages
Europe needs to act now to avoid a natural gas shortage next year given the loss of Russian supply and expectations Chinese demand will increase, the International Energy Agency said on Thursday.
EIA: US Crude Stocks Down, Refining Runs Rise
Crude oil and gasoline stocks fell in the most recent week, while refiners ramped up activity ahead of the heating season with inventories already tight, the U.S. Energy Information Administration (EIA) said on Wednesday.
Mitsui Says Russia's Sakhalin-2 Gas Project Can Cope Without Shell
The Sakhalin-2 LNG project in Russia has enough technical expertise to operate even without departed shareholder Shell, Mitsui & Co. CEO Kenichi Hori said on Wednesday.
Centrica Reopens UK's Rough Gas Storage Site in Time for Winter
British Gas owner Centrica has reopened its Rough gas storage site off England's east coast at about 20% of its previous capacity, enough to heat 1 million homes for 100 days this winter, the company said on Friday.
US Regulators Want More Data on Texas Freeport LNG Plant Before Restart
U.S. federal regulators have told Freeport LNG to provide information needed for the planned restart of its LNG export plant in Texas, the second-largest U.S. LNG export plant, as soon as possible to allow sufficient time for review.
US LNG Exports Dip in October, More Cargoes Head to Asia
U.S. LNG exports in October remained capped by plant outages, with producers shifting more cargoes to Asian buyers last month, according to Refinitiv Eikon tanker monitoring data, after a pipeline leak cut supplies from Malaysia.
Energy Transfer Hikes Full Year Profit Forecast on Natural Gas Demand
Energy Transfer LP's raised its full profit forecast for the third time this year, helped by an acquisition as well as strong production and demand for natural gas that it moves on its pipelines.
MPLX Reports Higher Pipeline Throughput for Q3 2022
MPLX LP's total pipeline throughputs for the third quarter 2022 were 5% higher than the same time last year, while the company increased its quarterly cash distribution by 10%, it said in an earnings statement on Tuesday.
Enterprise’s Pipelines Transport Record Volumes of Products for Q3 2022
Enterprise's pipelines moved 11.3 million barrels per day equivalent of the products, while the company's natural gas pipelines transported a record 17.5 trillion British thermal units per day, the company said.
ICE to Launch Two LNG Futures Contracts by Dec. 5
Intercontinental Exchange Inc. said it plans to launch two LNG futures contracts for northwest and southwest Europe by Dec. 5, as talks among EU countries to cap gas prices continue.
New Fortress Energy, CFE Finalize Deal for FLNG Hub Offshore Mexico
(P&GJ) — New Fortress Energy Inc. has finalized its agreements with Comisión Federal de Electricidad (CFE) to create a new FLNG hub off the coast of Altamira, Tamaulipas, with CFE supplying requisite feedgas to multiple NFE FLNG units using CFE’s existing and underutilized pipeline capacity.
Schlumberger, Linde to Collaborate on Carbon Capture Projects
(P&GJ) — Schlumberger and Linde have entered into a strategic collaboration on carbon capture, utilization and sequestration (CCUS) projects to accelerate decarbonization solutions across industrial and energy sectors.
Hydrogen Takeoff, Grounded in Safe Pigging Operations
(P&GJ) — As a critical medium for storing and transporting large volumes of renewably produced energy over long distances, hydrogen is expected to help fuel the drive to net-zero emissions. According to the International Energy Agency (IEA), over the next 25 years, hydrogen demand is expected to grow six-fold from today’s levels.
Factbox: Germany's LNG Import Project Plans
Germany is acquiring LNG terminals as part of its efforts to diversify away from Russian gas. Here is a snapshot of known LNG project activity in Germany.
Japan Asks Malaysia's Petronas to Help Customers after LNG Disruption
Japanese industry minister Yasutoshi Nishimura has asked Petronas CEO Tengku Taufik to continue efforts to mitigate the impact on Japanese customers of its LNG after a disruption at Malaysia LNG.
Higher LNG Exports May Turbocharge US Energy Transition
Sales of U.S. "freedom gas" are on track to smash volume and earnings records in 2022, but the stellar short-term gains for exporters may have long-term consequences for the entire U.S. energy sector due to the resulting higher natural gas prices.
Israel, Lebanon Set Maritime Boundaries on Path to Offshore Production
Lebanon and Israel have finalized a U.S.-brokered deal that sets maritime boundaries for the first time, clearing a path for more offshore gas production and infrastructure development in the Eastern Mediterranean.
Denmark's Orsted Signs Deal for Norwegian Gas via Baltic Pipe
Orsted AS has signed a supply deal for Norwegian gas from Equinor to be delivered via the newly constructed Baltic Pipe, cushioning the impact of Russian gas cuts on Danish energy markets.
Trinidad Plans LNG Hub to Help Caribbean Wean Off Oil
Trinidad and Tobago's state-owned gas company has started work on designing a small-scale LNG hub that could help the Caribbean move away from oil-based power generation
Europe's Natural Gas Demand Falls on Industrial Cutbacks
Europe slashed its natural gas use in August and September as industries cut production in response to soaring prices and scarce Russian supply, although the cuts were unevenly spread between countries.
PHMSA Approves Expansion of Cameron LNG Plant
An expansion of the Cameron LNG liquefied natural gas export plant won approval by a U.S. regulator on Wednesday, advancing development of a fourth gas-chilling unit.
Serbia's New Government Makes Energy Infrastructure Top Priority
The Serbian parliament appointed a new government on Wednesday whose main priorities are EU membership and investment in oil and gas pipelines and other energy infrastructure.
Factbox: Why European Gas Prices Have Been Falling
Despite dwindling Russian gas pipeline supplies, Dutch front-month gas, the European benchmark, has fallen 67% since hitting an all-time high in August to around 100 euros per megawatt hour and is at the lowest level since mid-June.
LNG Ships Wait off Spain's Coast as Higher Prices Eyed
Several ships carrying LNG anchored off Spain's Bay of Cadiz are likely to stay there until late November in anticipation of a rise in European gas prices, industry sources said.
EU Energy Chief Says Gas Price Cap Possible This Winter
The European Union could introduce a gas price cap this winter to limit excessive price spikes, but only if countries give Brussels a mandate to propose the measure, the bloc's energy chief said on Wednesday.
- 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
