Business & Markets
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.
Pembina Pipeline, Haisla Nation Receive Approval to Construct Pipeline for Cedar LNG Project
The Haisla Nation and Pembina Pipeline Corp., partners in the development of the proposed Cedar LNG project, have announced that Cedar LNG has received its Environmental Assessment Certificate for the construction of a pipeline that will connect the project into the Coastal GasLink pipeline.
Wave of New LNG Export Plants Threatens to Knock Gas Prices
A flood of LNG export projects due online worldwide in mid-decade will vie against lower-cost renewable energy and a revived nuclear power sector, which could rock gas prices and hurt some proposed projects, analysts say.
Minister: Britain to Announce New CCS Support Within Days
The British government will outline within days incentives for companies to bury their greenhouse gases deep underground, using a promising technology for reducing atmospheric carbon dioxide, a minister said on Thursday.
Norway Does Not Fear EU Joint Gas-Buying Will Create Cartel
Europe's biggest natural gas supplier Norway is not worried the European Union scheme to buy gas jointly in global markets will create a buyers' cartel, its oil and energy minister said on Friday.
EIA: US Shale Production Set to Rise to Highest Since December 2019 in April
Shale production is expected to rise by 68,000 barrels daily — the slimmest rise since December 2022 — to 9.21 million bbl/d, the EIA data showed. Crude output in the Permian Basin in Texas and New Mexico, the biggest U.S. shale oil basin, is expected to rise to 5.62 million bbl/d.
Venture Global LNG to Move Forward with Phase 2 of Plaquemines Export Plant
U.S. liquefied natural gas company Venture Global LNG said on Monday that it will go forward with the second phase of its Plaquemines LNG export plant in Louisiana after securing $7.8 billion of financing.
Malaysia's Petronas Posts Higher Q4 Profit, Sees Lower Oil Prices in 2023
Malaysia's state oil firm Petronas on Monday posted a 55% jump in quarterly profit on higher energy prices and bigger sales volume but warned of moderating prices for this year due to an expected slowdown in the global economy.
Biden Administration Approves ConocoPhillips' $7 Billion Willow Project in Alaska
The Biden administration has approved a scaled-back version of ConocoPhillips' $7 billion oil and gas drilling project in Alaska. The department reduced the size of ConocoPhillips' proposal by 40% by denying two requested drill pads that will prevent the development of 11 miles of roads, 20 miles of pipelines, and 133 acres of gravel.
Bahrain Explores Constructing LNG Export Facility
Bahrain aims to slash domestic natural gas consumption under a plan to decarbonize its economy and is exploring ways to export the fuel to international markets, the chairman of the kingdom's energy company said.
Trans Mountain Oil Pipeline Expansion Costs Surge 44% to $22.4 Billion
The cost of the Canadian government-owned Trans Mountain oil pipeline expansion has jumped 44% from last year's estimate to $22.35 billion, the federal corporation building the project said on Friday.
Brazil's Petrobras, Shell to Look for Joint Drilling Opportunities
Brazilian state-run company Petrobras and international oil major Shell will work together to identify potential opportunities to explore for and produce crude and natural gas, Petrobras said on Thursday.
Ecopetrol: With Reserves of Its Own, Colombia Does Not Need Venezuela's Gas
Colombia can go without Venezuelan natural gas because of promising offshore developments of its own, Felipe Bayon, chief executive of state-controlled oil company Ecopetrol, told Reuters.
Oil, Gas Executives on Hydrogen: Forget the Rainbow, Just Make It Profitable
Hydrogen as a potential alternative to natural gas, coal or oil burned in heavy industry or shipping is seen as key to reducing emissions in sectors where electrification is impractical. Hydrogen is often described by color and many in the industry call it a "rainbow renewable," but the most important color is green — as in cash, executives at CERAWeek said.
CERAWeek: Keystone Pipeline Oil Flows Won't Change After US Order to Cut Pressure, CEO Says
Oil flows on TC Energy's Keystone pipeline will not change after the U.S. pipeline regulator said it would require the company to reduce pressure following a 13,000-barrel oil spill in Kansas in December, CEO François Poirier told Reuters on Thursday.
Ukraine to Jointly Buy Gas with European Union Countries
Ukraine will take part in the European Union scheme to jointly buy gas in global markets, to procure 2 billion cubic meters of the fuel ahead of next winter, the EU energy policy chief said on Thursday.
YPF CEO: Green Light for Argentina's Gas Project with Petronas to Come in 2024
Argentina's state-controlled energy firm YPF and Malaysia's Petronas expect to make a final decision next year on whether to invest in the first phase of a massive $60 billion natural gas project in Argentina, the head of YPF said on Wednesday.
CERAWeek: Collapse in US Natural Gas Prices Dents Market for Shale Deals
This year's freefall in U.S. natural gas prices has upended the acquisitions market for gas producers and spooked investors that lined up to buy when prices were much, much higher.
- Repsol Ditches Plans to Develop LNG Terminal on Canada’s East Coast
- Kazakh Oil Decouples from Russian Crude But Risk Weighs on Price
- Pipeline Operator TC Energy Says Stress, Weld Fault Caused Keystone Oil Spill
- US to Sell 26 Million Barrels of Oil Reserves As Mandated by Congress
- Ukraine to Jointly Buy Gas with European Union Countries
- Company Cancels Byhalia Connection Pipeline Project
- US Intelligence Suggests Pro-Ukrainian Group Sabotaged Nord Stream Pipelines -NYT
- EIA: US Natural Gas Output to Hit Record High in 2023, Demand to Fall
- US Regulator Orders Lower Pressure on Keystone Pipeline System After Spill
- US Carbon Pipeline Faces Setback as Residents Refuse to Cede Land Rights
