Business & Markets
NextDecade Signs 20-Year LNG Supply Deal with Portugal's Galp
NextDecade Corp. said on Tuesday it will supply 1 million metric tonnes per annum (MTPA) of LNG to Portugal's Galp Trading SA for 20 years from its Rio Grande LNG export project in Brownsville, Texas.
Gas Starts to Flow to Freeport LNG Export Plant in Texas
Freeport LNG's long-shut liquefied natural gas export plant in Texas was on track to receive natural gas on Tuesday, according to data from Refinitiv, a possible sign the plant might meet the company's projected end of the year return date.
Explainer: Oil Storage Situation in Canada, US After Keystone Spill
Days after TC Energy Corp.'s Keystone pipeline shut following a 14,000-barrel spill into a creek in Kansas, traders are questioning whether there is enough oil in storage in key areas if the pipeline remains closed for a number of weeks.
US Begins Buying Back Oil for Strategic Petroleum Reserve
The U.S. Energy Department said on Friday it will begin buying back oil for the Strategic Petroleum Reserve, or SPR, the first purchase since this year's record 180 million barrel release from the stockpile.
US Poised to Become Net Exporter of Crude Oil in 2023
Sales of U.S. crude to other nations are now a record 3.4 million bbl/d, with exports of about 3 million bbl/d of refined products like gasoline and diesel fuel. The United States is also the leading LNG exporter, where growth is expected to soar in coming years.
Winter Storm Cuts North Dakota's Shale Oil Production
A winter blizzard sweeping across the northern United States has cut North Dakota's oil output by 200,000 to 250,000 barrels per day, or 18% to 22%, state Pipeline Authority Director Justin Kringstad estimated on Friday.
Norway's Hoegh LNG in Talks to Supply More Regasification Vessels to Europe
Norway's Hoegh LNG is in talks to supply more of its floating storage and regasification units to several European countries seeking alternatives to Russian gas, its CEO said.
US Energy Regulator Approves Energy Transfer's 135-Mile Louisiana Gas Pipeline
Pipeline operator Energy Transfer on Thursday received approval to start operations on a natural gas pipeline that will deliver fuel to the U.S. Gulf Coast at a time of supercharged demand overseas.
Putin Plans to Increase Gas Sales to China
President Vladimir Putin said on Thursday that Russia would increase gas supplies to "the East", particularly China, and set prices for sales to Europe using an electronic platform.
German Pipeline Firms Say They Will 'Make Hydrogen Happen' in 2025
Germany's Gascade, Ontras and terranets have agreed to convert high-pressure gas pipelines to transport low-carbon hydrogen from the Baltic Sea all the way the south of the country by 2025, the companies said on Thursday.
Hungary to Start Talks with Qatar About Buying LNG
Hungary and Qatar have agreed that their state-owned energy companies will start talks about Hungary buying LNG from the Gulf Arab state, Foreign Minister Peter Szijjarto said in a Facebook video on Wednesday.
Morgan Stanley Sees Brent Crude Oil Back at Around $110/bbl by Mid-2023
Morgan Stanley on Wednesday said it expects Brent crude oil prices to rally to around $110 per barrel level by mid-2023, citing support from rising demand and continued supply tightness.
Report: Global Investment Financing Trends Rebound
(P&GJ) — Are global and regional foreign direct investment (FDI) trends favorable for those investing in new pipelines or redeveloping existing ones? The United Nations Conference on Trade and Development’s (UNCTAD’s) “World Investment Report 2022” answers that question.
Oil Rises to Over $80/bbl as Dollar Slumps on Slowing Inflation
Oil settled over $80 a barrel on Tuesday and recorded its biggest daily gains in over a month, as investors bought up risk assets after U.S. data pointed to slowing inflation.
EU Delays Decision on Natural Gas Price Cap, Countries Still At Odds
European Union energy ministers meeting in Brussels on Tuesday failed to strike a final deal on a bloc-wide cap on natural gas prices, after months of infighting over whether the measure can ease Europe's energy crisis.
IEA: EU Could Face 27 Bcm Gas Shortage Next Year
If Russia was to cut the small share of gas it still delivers to Europe, and Chinese gas demand rebounded from COVID-19 lockdown-induced lows, the EU could face a gas shortfall of 27 billion cubic meters (Bcm) in 2023, the IEA said. Total EU gas consumption was 412 Bcm in 2021.
VTTI Plans to Build New Floating LNG Platform in Netherlands by 2024
Dutch energy company VTTI said on Monday it plans to build a new floating LNG terminal in the Netherlands with capacity to import 5 billion cubic meters of gas annually.
Argentina Bags $689 Million from Brazilian Bank for Vaca Muerta Pipeline Project
Argentina has secured financing of $689 million from Brazilian state development bank BNDES for the second stage of a crucial natural gas pipeline in the huge Vaca Muerta shale region, energy secretary Flavia Royon said on Monday.
Gas Producers Seek Urgent Talks with Australian Prime Minister
Australia's gas industry lobby group on Sunday called for urgent talks with Prime Minister Anthony Albanese after learning that the government's plan to cap gas prices for one year, announced on Friday, includes long-term measures to limit profit margins.
280-Mile Hydrogen Pipeline Connecting Spain to France to Cost $2.6 Billion
An underwater pipeline set to carry green hydrogen between Spain and France will cost about $2.6 billion, Spanish Prime Minister Pedro Sanchez said on Friday, adding he hoped the European Union would partly fund the project.
Russia’s NG Pipeline Exports to Europe Near 40-Year Lows
(P&GJ) — Russia’s natural gas exports by pipeline to the European Union and the United Kingdom declined by almost 40% during the first seven months of 2022 compared with the same period in 2021, and by almost 50% compared with the previous five-year (2017–21) average, according to data from Refinitiv Eikon.
Commodities Trader Trafigura Doubles Profit to Hit New Record in 2022
Global commodities trader Trafigura Group posted a record profit for its full year 2022, more than double last year's record, as it cashed in on unprecedented market volatility following Russia's invasion of Ukraine.
TC Energy’s Keystone Pipeline Shut After Oil Release into Kansas Creek
TC Energy on Thursday said it shut the 622,000 barrel-per-day Keystone pipeline due to an oil spill into a Kansas creek. The size of the leak, which occurred about 20 miles south of a key junction in Steele City, Nebraska, is currently unknown.
Alaska North Slope Crude Price Falls to Lowest Since April 2020
Prices for Alaska North Slope (ANS) crude fell on Tuesday to the lowest since September 2020, as refineries in California bought more crude locally and the spread between low sulfur and higher sulfur crudes widened.
Gasunie Set to Oversee North Sea Hydrogen Network Plan
The Dutch government said it would appoint gas grid operator Gasunie to oversee plans to develop a hydrogen network in the North Sea, Energy Minister Rob Jetten said Dec. 2 in a letter to parliament.
Waha Hub Natural Gas Still Falling Below Henry Hub Price
(P&GJ) — Since late 2021, the difference has been widening between the natural gas price at the Waha Hub in West Texas and the U.S. benchmark Henry Hub in Louisiana.
Natural Gas Producer Cenovus Forecasts 21% Increase in 2023 Capital Spending
Canada's Cenovus Energy on Tuesday forecast higher capital expenditure and production in 2023 and said its natural gas business could grow by as much as 25% in coming years due to higher prices.
Ørsted Plans Large-Scale Green Hydrogen Project in Denmark
Renewable energy firm Orsted on Tuesday said it intends to invest in a large-scale facility in Denmark to produce green hydrogen, considered a cornerstone of the shift to cleaner energy. The first stage of the investment in the so-called Power-to-X facility is estimated at somewhere between $141-$705 million.
Consortium Seeks First Proposals for Carbon Capture Shipping Project
A consortium of global energy and shipping organizations said on Tuesday it was seeking proposals to study ways to offload captured carbon dioxide from ships during port calls. The call for proposals is part of the world's first project aimed at building and testing a full-scale carbon-dioxide capture system aboard an oil tanker.
Focus: BP Doubles Down on Hydrogen as Fuel of the Future
BP chief executive Bernard Looney is betting on hydrogen to power future low-carbon businesses as the governments of major economies stump up cash to develop the fuel to decarbonize.
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Canada’s Canceled Oil Pipelines: The Projects That Didn’t Make It
- Army Corps Lists Enbridge’s Line 5 as ‘Emergency’ Project Eligible to Bypass Environmental Review
- Kinder Morgan Approves $1.4 Billion Mississippi Crossing Project to Boost Southeast Gas Supply
- India’s GAIL Eyes U.S. LNG Deals Following Trump’s Policy Shift
- TC Energy Beats Q4 Profit Estimates, Driven by Mexico Pipelines' Success
- Colonial Pipeline's Main Gasoline Artery Shut for Leak Investigation Through Friday
