Regions

U.S. Natural Gas Prices Drop 3% on Near-Record Output

U.S. natural gas futures fell more than 3% on July 28 as production neared record levels, though forecasts for extreme heat limited deeper losses. Prices hit their lowest point since late April.

JGC Wins $550 Million Preliminary Deal for African FLNG Project

JGC France has secured a $550 million preliminary contract for an African floating LNG project, covering early-phase EPCIC work and potentially leading to a full-scale award as the company expands in the continent’s LNG sector.

Corinth Pipeworks to Supply Pipeline for Greece–North Macedonia Gas Link

Corinth Pipeworks will supply hydrogen-ready linepipe for the Greece–North Macedonia Natural Gas Interconnector, a 76-mile cross-border pipeline set to enhance regional energy security and support decarbonization efforts by 2027.

Venture Global Reaches FID on $15 Billion CP2 LNG Project in Louisiana

Venture Global has reached a final investment decision and secured $15.1 billion in financing for the first phase of its CP2 LNG project in Louisiana, set to become the largest U.S. export facility with a peak capacity of 28 million tonnes per year by 2027.

Petrobras Cuts Brazil Natural Gas Prices by 14% Starting August

Petrobras will reduce Brazil’s natural gas prices by 14% starting August 1, citing lower oil prices and a stronger real. The cut marks a 32% decline since late 2022 as the state-run company adjusts prices quarterly.

U.S. LNG Developers Climb on $750 Billion EU Energy Purchase Agreement

U.S. LNG producers surged after the European Union agreed to $750 billion in strategic energy purchases as part of a new trade pact, boosting companies like NextDecade, Venture Global, and Cheniere amid rising transatlantic energy ties.

Ukraine Secures First Transbalkan Gas Deal with Azerbaijan’s SOCAR

Ukraine has signed its first gas supply deal with Azerbaijan’s SOCAR using the Transbalkan route, a move seen as key to diversifying energy sources amid Russian attacks on domestic production and high transit fees on other routes.

Qatar Threatens to Cut LNG Supplies to EU Over Sustainability Law

Qatar has warned it could cut LNG supplies to the European Union in response to the bloc’s new corporate sustainability law, citing concerns over forced labor and climate transition requirements, according to a letter seen by Reuters.

Pembina Secures Settlement with Shippers for Alliance Pipeline

Pembina Pipeline reached a 10-year settlement with shippers on the Alliance Pipeline, revising toll structures and filing for Canada Energy Regulator approval. The agreement lowers long-term tolls and introduces revenue sharing on biddable capacity.

EU Lawmakers Push to Speed Up Russian Gas Phase-Out to 2027

EU lawmakers are proposing to move the bloc’s Russian gas phase-out deadline forward by one year to January 2027, intensifying negotiations on a legally binding ban amid ongoing energy diversification efforts.

PHMSA Picks Louisiana for 20-Year LNG Safety Center Lease

PHMSA signed a 20-year lease with McNeese State University in Lake Charles, Louisiana, to establish the National Center of Excellence for LNG Safety, aimed at advancing research, training, and collaboration on safe LNG operations.

California Steps In to Prevent Valero Refinery Closure, Avert Fuel Shock

California is making a rare move to find a buyer for Valero’s Benicia refinery near San Francisco to prevent its closure, reflecting concerns over fuel supply and soaring gasoline prices in the state.

Trump Claims Japan, U.S. to Form Joint Venture for Alaska LNG Exports

U.S. President Donald Trump said Japan will form a joint venture on an Alaska LNG project, but Japanese officials and companies say they are unaware of such plans, raising questions about the announcement’s details.

From Europe to Australia: Green Hydrogen Projects Canceled Before They Began

Green hydrogen projects across Europe, Australia, the U.S., and Asia are being canceled or postponed as high costs and weak demand force developers to scale back ambitious plans for low-carbon fuel.

Exxon, Chevron Overlap Could Fuel Talk of Next Mega-Merger

Exxon Mobil and Chevron’s overlapping operations in key regions like the Permian Basin and Guyana are driving speculation about a potential $800 billion mega-merger, which would reshape the U.S. energy sector and evoke comparisons to Standard Oil.

Saipem Expects Mozambique LNG Project to Restart by End of Summer

Saipem expects the $20 billion Mozambique LNG project for TotalEnergies to restart by late summer, ending a force majeure that halted work in 2021 after insurgent attacks. The restart would mark a major step for the Golfinho and Atum fields.

U.S. Natural Gas Prices Drop 5% on High Output, Lagging LNG Exports

U.S. natural gas futures fell about 5% to a 12-week low on July 23 on near-record output, stagnant gas flows to LNG export plants, and ample amounts of gas in storage.

Libya, U.S. to Collaborate on Gas Project to Boost Output

Mellitah Oil and Gas will work with U.S. construction consulting firm Hill International to manage a project which aims to boost Libya's gas output, the country's National Oil Company (NOC) said in a statement on July 23.

Liberty Energy, Oklo Join to Advance Natural Gas Power Generation

Oklo Inc. and Liberty Energy Inc. have launched a strategic alliance to accelerate integrated power solutions and meet immediate power demand with natural gas generation and variable load management solutions.

Puerto Rico Ends $20 Billion LNG Contract Talks With New Fortress, Sources Say

Puerto Rico is ending talks to negotiate a $20 billion liquefied natural gas contract with New Fortress Energy, Bloomberg News reported on July 23, citing a negotiator.

Crude Flows From BTC Pipeline, Ceyhan Port Resume After Contamination Scare

Azeri BTC crude oil loadings from the Turkish port of Ceyhan resumed on July 23, after increased checks linked to a contamination issue delayed loadings in recent days.

Equinor Forecasts Tighter Gas Market Following Q2 Profit Drop

Europe's gas market could tighten further ahead of the winter season as storage levels remain well below last year and the continent faces competition from Asia for LNG shipments, the CEO of Norway's Equinor said.

Hanwha to Deliver First U.S.-Flagged LNG Carrier in Korea-Philly Partnership

Hanwha Shipping has ordered the first US-flagged LNG carrier in nearly 50 years, combining Korean shipbuilding with final outfitting and compliance handled at Philly Shipyard. The vessel is set for delivery in 2028.

Halliburton Warns Mexico Oil Decline Requires Reactivation, But Pemex Still Owes Suppliers

Halliburton says declining oil output in Mexico is creating pressure to restart oilfield services work, but ongoing payment delays from Pemex continue to stall activity. Mexico’s crude production fell 8.4% in May.

U.S. Crude Flows to Nigeria Surpass Imports for First Time, EIA Reports

For the first time, the United States became a net exporter of crude oil to Nigeria in early 2024, driven by shifts in refinery operations and rising demand from Nigeria’s new Dangote refinery, according to the EIA.

CPS Energy, Modern Hydrogen to Pilot Gas-to-Hydrogen Power Project in Texas

Texas utility CPS Energy will pilot Modern Hydrogen’s technology to convert natural gas into clean hydrogen, aiming to reduce carbon emissions while improving grid resilience. The process produces hydrogen and captures solid carbon for reuse.

SLB Secures Carbon Storage Deal for North Sea CCS Project

SLB will develop six carbon storage wells for the Northern Endurance Partnership’s East Coast Cluster CCS project in the UK, supporting efforts to reduce industrial carbon emissions starting in 2028.

Natural Gas Utilities Innovate to Meet Growing Storage, Energy Demand, AGA Says

America’s natural gas utilities are expanding flexible storage options and urging policy reforms to meet surging energy demand, according to the American Gas Association. LNG storage and infrastructure upgrades are key to long-term reliability.

Turkey Seeks New Deal with Iraq to Revive Kirkuk-Ceyhan Oil Pipeline

Turkey plans to negotiate a new agreement with Iraq to restart the Kirkuk-Ceyhan oil pipeline, which has been shut down since 2023 due to arbitration disputes.

U.S. Natural Gas Prices Drop 6% on Record Output, Tepid LNG Demand

U.S. natural gas prices fell 6% to a one-week low as record production, sluggish LNG demand, and strong storage levels weighed on the market. Analysts say supply growth is outpacing demand despite summer heat.

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