Business & Markets

Italy to Approve New LNG Terminal Next Week

A state-appointed commissioner said on Friday he would give the go-ahead for Italy's new LNG terminal in the Tuscan port of Piombino at the beginning of next week, in time for it to start delivering gas in the spring.

Technip Energies Signs Deal to Fully Exit Arctic LNG 2 Project in 2023

Technip Energies expects to fully exit the liquefied natural gas project Arctic LNG 2 led by Moscow-listed gas producer Novatek next year, the French oil and gas services provider said on Thursday.

US FERC Says Winter Natural Gas Prices Will Be Up from Recent Years

Natural gas prices at major U.S. trading hubs for the upcoming winter are expected to remain higher than in recent years, the Federal Energy Regulatory Commission said on Thursday.

Italy Aims for 'Miracle' with LNG Project in Energy Crunch

Italy is invoking the need for energy security in the face of Russian supply cuts to rush through in a matter of months a new LNG terminal – a process that would normally take years due to local objections and permitting.

Dozens of LNG-Laden Ships Queue Off Europe's Coasts Unable to Unload

Dozens of ships carrying LNG circling off the coasts of Spain unable to secure slots to unload have prompted grid operators for the country to warn they may have to suspend loading to deal with this "exceptional situation".

Biden to Announce Emergency Oil Sales to Prevent Price Spikes

U.S. President Joe Biden will announce a plan on Wednesday to sell off the last portion of his release from the nation's emergency oil reserve by year's end and detail a strategy to refill the stockpile when prices drop, administration officials said.

US Could Sell More Oil from Emergency Reserve This Week

Oil

The Biden administration plans to sell more oil from the U.S. Strategic Petroleum Reserve in a bid to dampen fuel prices before next month's congressional elections, according to three sources familiar with the matter.

Gulf Coast Midstream Launches Open Season for Natural Gas Storage Services at Freeport Hub

(P&GJ) — The Freeport Energy Storage & Sequestration Hub is strategically located for providing high deliverability, multiple inventory cycle gas storage services to the Texas Gulf Coast intrastate market, with potential connectivity to as many as 11 intrastate pipeline segments.

QatarEnergy Expanding in LNG, Won't Divert Supplies to Europe

QatarEnergy is working to expand its gas production and trading operations as global demand surges and will not divert LNG contracted with Asian buyers to Europe this winter, CEO Saad al-Kaabi said on Tuesday.

Finance Minister: Canada Would Back 'Economically Viable' New LNG Terminals

Canada will look at supporting more LNG terminals as long as they are economically feasible because they are needed to keep the world from burning coal again amid the current energy crunch, Finance Minister Chrystia Freeland said on Friday.

US Approves LNG Shipping Waiver for Puerto Rico After Hurricane

The Biden administration late on Sunday approved a waiver of U.S. shipping rules to address Puerto Rico's urgent need for LNG after Hurricane Fiona.

Sources: Exxon's Russian Oil Output Collapsed After Rejecting Local Tanker Insurance

Oil

Oil output at the giant Exxon-led Sakhalin-1 Russian Pacific project collapsed following the U.S. major's refusal to accept local insurance for tankers after Western insurers pulled out due to sanctions, several industry sources told Reuters.

China Halts LNG Sales to Foreign Buyers to Ensure Own Supply

China has asked its state-owned gas importers to stop reselling LNG to buyers in Europe and Asia as it seeks to ensure its own supply for the winter season, Bloomberg News reported on Monday.

Exxon Exits Russia Empty-Handed with Oil Project 'Unilaterally Terminated'

Exxon Mobil Corp. said on Monday that it left Russia completely after President Vladimir Putin expropriated its properties following seven months of discussions over an orderly transfer of its 30% stake in a major oil project.

Brunsbuettel LNG Hub Expected to Be Ready in 2026, Gasunie Says

Dutch gas grid operator Gasunie said its German subsidiary has signed deals related to the development of a new LNG terminal at Brunsbuettel with 8 billion cubic meters of throughput capacity, due to be completed by 2026.

Exxon Mobil Taps EnLink’s Pipeline Network for Louisiana Carbon Capture Project

(P&GJ) — Exxon Mobil has signed an agreement with EnLink Midstream to use EnLink’s transportation network to deliver CO2 to its 125,000-acre storage location in Vermilion Parish, Louisiana. CF Industries is investing $200 million to build a CO2 dehydration and compression unit at its Donaldsonville, Louisiana, facility to enable the captured CO2 to be transported and stored.

US Natural Gas Pipeline Exports to Mexico Reach Record High

(P&GJ) — Natural gas pipeline exports from West Texas to Mexico averaged 1.6 Bcf/d (45 MMcm/d) during May 2022 – the most pipeline exports from West Texas on record, U.S. Energy Information Administration (EIA) data showed.

US LNG Exports to Europe Rise During 2022

(P&GJ) — During the first four months of 2022, the United States exported 74% of its LNG to Europe, compared with an annual average of 34% last year, according to EIA’s Natural Gas Monthly and EIA estimates.

Chevron Sees LNG Growth Opportunity in Europe on Strong Demand

U.S. oil major Chevron Corp. expects high European prices for LNG to attract a majority of U.S. LNG exports in the short term, a top executive told Reuters on Wednesday.

Germany Receives First Gas Deliveries Directly from France

Germany on Thursday received the first direct gas deliveries from France through a pipeline link under a deal aimed at helping both countries cope with current energy supply problems, the French grid operator GRTgaz said.

Druzhba Pipeline Leak Reduces Russian Oil Flows to Germany

Germany said on Wednesday it was receiving less oil but still had adequate supplies, after Poland found a leak in the Druzhba pipeline that delivers crude from Russia to Europe that Warsaw said was probably caused by an accident rather than sabotage.

Putin Moots Major Gas Hub in Turkey with Nord Stream Supplies

President Vladimir Putin said on Wednesday that Russia could redirect supplies intended for the damaged Nord Stream pipelines to the Black Sea to create a European gas hub in Turkey, or even use the one intact part of Nord Stream 2 to supply the EU.

Eni CEO: Italy Risks Gas Shortage Without New LNG Terminal

Italy could face a gas shortfall of 5-6 billion cubic meters in the winter of 2023-24 without a new regasification terminal, the CEO of energy major Eni Claudio Descalzi said on Tuesday.

Spain's Cepsa Signs Green Hydrogen Shipping Deal with Rotterdam Port

Spanish oil and gas group Cepsa has signed a deal with the Dutch port of Rotterdam to ship green hydrogen from southern Spain to northern Europe, the oil company and the port said on Tuesday, confirming an earlier report by the Financial Times.

US Sells Oil from Emergency Reserve to Marathon, Equinor, Others

Oil

The United States has sold a 10.15-million-barrel batch of oil from the Strategic Petroleum Reserve to eight companies, the Department of Energy said on Friday.

Shell Focusing Spending on Gas Infrastructure, Supplying LNG Plants

Shell is focusing its short-term investments on new natural gas infrastructure and boosting supplies to existing LNG plants, an executive said on Thursday.

Venture Global to Expand LNG Shipments to German Energy Provider EnBW

(P&GJ) — Under the 20-year sales and purchase agreements signed in June 2022, EnBW has increased the quantity of its long-term LNG offtake from Venture Global by an additional 0.5 MTPA from Plaquemines and CP2 LNG.

CEO: TotalEnergies to Continue Shipping Russian LNG as Long as No EU Sanctions

French energy giant TotalEnergies will continue to ship LNG from Russia as long as there are no European sanctions on the fuel, the company's CEO Patrick Pouyanne said on Wednesday, reiterating a previously stated position.

Sources: Shell, Exxon to Win New Roles in Qatar's LNG Expansion

The North Field South expansion is part of Qatar's ambitious drive to consolidate its position as the world's top LNG exporter, with demand for the fuel growing as Europe scrambles to substitute the Russian pipeline gas that made up almost 40% of the continent's imports.

Gazprom Resumes Gas Exports to Italy Via Austria

Gazprom said the company and its Italian customers had found a solution following regulatory changes in Austria which halted flows entering Italy via a pipeline passing through Tarvisio in the northeast of the country.