Business & Markets
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.
Australia In Talks to Help Papua New Guinea Buy $1.1 Billion PNG LNG Stake
Papua New Guinea's state-owned Kumul Petroleum is in talks with Australia's export credit agency to help fund a $1.1-billion acquisition of a 5% stake in the PNG LNG project from Santos Ltd., the PNG company's head said on Tuesday.
Sempra Energy Strikes 15-Year LNG Supply Deal with France's ENGIE
Sempra Energy said on Tuesday it would supply about 0.875 MTPA of LNG to French power company ENGIE for 15 years from its proposed Port Arthur LNG project in Texas.
Trafigura Enters $3 Billion Loan to Supply Germany's Sefe with Gas
Commodities trading firm Trafigura on Monday said it has entered into a $3 billion four-year loan to supply gas to German gas trader Sefe, formerly known as Gazprom Germania, and help Europe's largest economy secure volumes long-term.
Moldovagaz to Buy Gas from Energocom, Russia’s Gazprom
Moldova's natural gas company Moldovagaz will start buying gas from domestic supplier Energocom while continuing to buy it from Russia's Gazprom, the head of Moldovagaz said late on Saturday.
Outrigger Energy Sells Nearly 200 Miles of Natural Gas, Crude Pipeline to Summit Midstream
(P&GJ) — Outrigger Energy II LLC has completed the sale of its midstream system in Weld County, Colorado to Summit Midstream Partners LP, which includes approximately 160 miles of low and high pressure natural gas gathering pipeline and 30 miles of crude oil gathering pipelines with delivery to the Pony Express Pipeline.
Germany Plans 1,118-Mile Hydrogen Pipeline Network by 2027
Germany plans to develop a 1,800-km (1,118-mile) hydrogen energy pipeline network by 2027 with state participation, according to an economy ministry draft strategy paper seen by Reuters on Friday.
TAL Approves Pipeline Upgrade to Help Czechs Ditch Russian Crude
Owners of the Transalpine Pipeline (TAL) shipping crude from the Mediterranean to central Europe approved a plan on Wednesday to upgrade the link, which is key for the Czech Republic to wean itself off Russian oil, the Czech Finance Ministry said.
Repurposing Gas Networks Key to Fulfill Europe’s Hydrogen Ambitions
(P&GJ) — The European Union (EU) has set a target of 11 million tons (10 million tonnes) of renewable hydrogen production domestically by 2030 in a bid to replace fossil fuels in hard-to-abate sectors such as heavy industry and transport.
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.
Canada's TC Energy Gets Approval to Expand NGTL Gas Pipeline System
The West Path Delivery 2023 (WP2023) project will add about 40 km (25 miles) of new natural gas pipeline to the existing 25,000-km (15,534 miles) NGTL system, which ships gas across Canada and to U.S. markets.
Spain's Cepsa to Invest $3.1 Billion in Green Hydrogen Project
Spanish oil company Cepsa plans to invest $3.1 billion in a green hydrogen project in Andalusia, southern Spain, CEO Maarten Wetselaar said on Thursday. The project will consist of two electrolyzers of 1 gigawatt each in the port cities of Algeciras and Huelva.
Ineos Signs 20-Year LNG Supply Deal with Sempra
(P&GJ) — INEOS has signed a 20-year contract with Sempra Infrastructure for the supply of approximately 1.4 MTPA of LNG from Phase 1 of the Port Arthur LNG facility under development in Texas North America.
EIA: US Oil Output Climbs to Highest Since March 2020
U.S. oil output climbed 2.4% to 12.27 million barrels per day (MMbbl/d) in September, government figures showed on Wednesday, the highest since the onset of the COVID-19 pandemic.
Greece Expected to Nearly Quadruple Gas Export Capacity by 2025
Greece is becoming a European gas corridor and can nearly quadruple its gas export capacity to neighboring countries in the coming years thanks to new infrastructure under development, Maria Rita Galli, the CEO of the country's gas grid operator DESFA said on Wednesday.
Enbridge Sees Higher 2023 Profit, Joins Occidental on Carbon Capture Project
Canada's biggest pipeline operator Enbridge Inc. on Wednesday forecasted higher 2023 core earnings, banking on sustained high demand for oil and gas amid tight supplies.
API Publishes Two Updated Standards for Underground Natural Gas Storage
(P&GJ) — The American Petroleum Institute released two second-edition standards on Nov. 29 for natural gas storage in underground salt caverns and depleted hydrocarbon and aquifer reservoirs to help ensure a safe and reliable energy supply.
JERA Expects Fire-Hit Freeport LNG Texas Shipments to Fully Resume by March
Japan's biggest buyer of LNG, JERA, expects Freeport LNG's production at its fire-hit Texas plant to partially resume in mid-December and its shipments to be fully back by March, President Satoshi Onoda said on Tuesday.
Excelerate Energy's LNG Plant in Argentina Could Be Completed by 2025
Excelerate Energy, a U.S. company that provides storage and regasification services for LNG globally, could complete its planned gas liquefaction plant in Argentina by 2025, according to an executive.
ConocoPhillips, QatarEnergy to Supply Germany with LNG Starting in 2026
Germany is set to receive new flows of Qatari LNG from 2026 after QatarEnergy and ConocoPhillips on Tuesday signed two sales and purchase agreements for its export covering at least a 15-year period.
- 1,000-Mile Pipeline Exit Plan by Hope Gas Alarms West Virginia Producers
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Greenpeace Ordered to Pay $667 Million to Energy Transfer Over Dakota Access Pipeline Protests
- Boardwalk’s Texas Gas Launches Open Season for 2 Bcf/d Marcellus-to-Louisiana Pipeline Expansion
- New Alternatives for Noise Reduction in Gas Pipelines
- Construction Begins on Ghana's $12 Billion Petroleum Hub, But Not Without Doubts
- Missouri Loses Control Over 1.5 Million-Mile Gas Pipeline Network as Feds Step In
- Panama Canal Considers Pipeline to Move U.S. Gas to Asia
- Gazprom’s Grandeur Fades as Europe Moves Away from Russian Gas
