Business & Markets

Lithuania to Poland LNG Pipeline to Come Online Next Year

Lithuanian state-controlled energy company Ignitis Group will start supplying liquefied natural gas (LNG) to Poland next year when a new pipeline between the two countries comes online, its CEO said on Monday.

Europe's Unusually Low Gas Stocks Set to Underpin Prices

European gas storage levels are lower than usual for the time of year and will need to be topped up significantly in the coming months, providing support to wholesale gas prices.

Nigeria's Seplat Cutting Costs, Keeping Acquisitions on the Radar

Nigerian oil and gas company Seplat aims to cut costs and is looking out for acquisitions even after the crash in crude prices eroded its 2020 revenue.

Asian LNG Prices Fall on Lower Heating Demand

Asian liquefied natural gas (LNG) prices fell this week, with less demand for heating in the region and expectations that exports out of the United States will normalize after the Texas storm.

Cold Weather Leads to Near-Record Withdrawals from Underground Natural Gas Storage

Significant demand for natural gas in mid-February led to the second-largest reported withdrawal of natural gas from storage in the United States, according to the EIA's Weekly Natural Gas Storage Report.

Canada's Alberta Sees Budget Deficit Narrowing as Oil Prices Recover

The Canadian oil-producing province of Alberta estimated its 2021/22 budget deficit will shrink to C$18.2 billion ($14.5 billion), as its economy starts to recover from the damage caused by the coronavirus pandemic.

Max Midstream Launches Open Season on Seahawk Pipeline

Seahawk Pipeline, a subsidiary of Max Midstream, is developing a crude oil pipeline in the Eagle Ford area from its Edna Terminal to the Seahawk Terminal in the Port of Calhoun, Texas, and wants to gauge shipper interest, the company announced.

Qatar Pledges $60 million to Pipeline from Israel to Gaza

Qatar coming on board publicly gives another boost to the project, which has a 2023 target date for completion.

APA Launches Australia's First Hydrogen-Ready Transmission Pipeline Project

Australia’s APA Group announced a landmark hydrogen pilot project to enable the proposed conversion of 43-kilometers (26.7 miles) of Parmelia Gas Pipeline in Western Australia into Australia’s first 100 percent hydrogen-ready transmission pipeline.

Russia’s Gazprom Says LNG, Natural Gas Shouldn't Compete in Export Markets

Russia should ensure its natural gas and LNG supplies do not compete in international markets, Gazprom said, amid signs a local LNG rival is becoming increasingly important in the European market traditionally dominated by Gazprom.

Uganda Expects Work on Oil Pipeline with Total to Soon Start

Uganda said the construction of a $3.5 billion oil pipeline with France's Total due to run through neighboring Tanzania was expected to begin shortly.

EIA: U.S. Crude Output Falls 10%, Refinery Runs Drop to 2008 Low

U.S. crude oil production dropped by more than 1 million barrels per day last week during Texas's deep freeze, equaling the largest weekly fall ever, and refining runs tumbled to levels not seen since 2008.

U.S. Trade Groups Urge Biden to Cap Natural Gas Prices After Texas Freeze

Trade groups representing U.S. public power and natural gas companies urged President Joe Biden to declare a gas emergency for last week's extreme weather and authorize the secretary of energy to cap the price of gas.

An Alberta Petrochemical Complex is at the Heart of Brookfield's Inter Pipeline Bid

Inter Pipeline Ltd's ambitious petrochemical plant was meant to unlock new markets, instead it has left the Canadian company battling cost overruns and vulnerable to a hostile C$7.08 billion ($5.64 billion) takeover from Brookfield Infrastructure Partners.

Traders Supply Mexico With Emergency LNG After Power Crisis

Mexico's state-run power company resorted to LNG imports as natural gas supplies from the southern United States, especially neighboring Texas, were hit by frozen pipelines and rocketing prices caused by a cold snap.

Kinder Morgan and Brookfield Sell Minority Interest in Natural Gas Pipeline Company of America

Kinder Morgan and Brookfield Infrastructure Partners agreed to sell a 25% minority interest in Natural Gas Pipeline Company of America to a fund controlled by ArcLight Capital Partners for $830 million.

Brookfield Launches Hostile Bid to Buy Canada's Inter Pipeline

Brookfield Infrastructure Partners said on Monday it formally launched its hostile bid to buy Inter Pipeline Ltd, weeks after the Canadian oil and gas transportation company rejected its unsolicited offer as inadequate.

Oil Producers Eye Long Road to Recovery as Texas Thaws

Shale oil producers in the southern United States could take at least two weeks to restart the more than 2 million barrels per day (bpd) of crude output that shut down because of cold weather, as frozen pipes and power supply interruptions slow their recovery, sources said.

Spain’s Reganosa to Operate Sardinia’s First LNG Terminal

Spain’s Reganosa won a contract to operate and maintain the first liquefied natural gas (LNG) terminal on the Italian island of Sardinia, the company announced.

Australian Gas Networks Looking to Include Hydrogen in Infrastructure

Australia's natural gas pipeline owners are working to future proof their A$75 billion ($59 billion) in assets amid a global push towards clean energy, running tests to blend hydrogen with gas and produce green methane to replace the fossil fuel.

Texas Oil Refiners Will Take Weeks to Recover, Boosting U.S. Gas Prices

Texas oil refineries shut by cold-weather disruptions may take several weeks to resume normal operations, industry experts said on Friday, helping to push up fuel prices.

As Power Returns, Texas Energy Firms Slowly Emerge from Deep Freeze

Texas energy companies on Friday began preparing to resume oil and gas production after days of frozen shutdowns as electric power and water service slowly resumed at darkened oilfields and refineries.

Ford Shuts North American Plants due to Weather, Gas Supply Interruption

Freezing weather that interrupted gas supplies in the southern United States and Mexico was wreaking havoc on Thursday with car manufacturing plants, with Ford saying several of its assembly plants have been shut.

Energy Transfer Upping NGL Investments as Oil Pipeline in Doubt

Energy Transfer LP executives said the company is deepening its investments in natural gas liquids (NGLs) as crude oil pipeline shipments decline and as the company faces the possible closure of its Dakota Access line.

Texas Mandate to Bar Natural Gas Exports Likely Unenforceable

The Texas oil and gas regulator on Thursday alerted state natural gas producers of a directive to reserve their supplies for in-state electric generation even as one member questioned whether the directive could be enforced.

TC Energy Profit Rises 13% on Earnings from U.S. Gas Pipelines

TC Energy Corp reported a 13.4% rise in fourth-quarter comparable profit on Thursday, partly helped by lower operating costs for its U.S. natural gas pipelines.

President Asks Mexicans to Ration Power as Texas Limits Fuel

Mexico's president asked consumers on Thursday to use less electricity in the evenings as a measure to help overcome shortages of natural gas from Texas, which is seeking to ban exports of the fuel during freezing weather.

Texas Oil Producers Still Shut; Governor Bans Natural Gas Exports

The Texas governor ordered a ban on natural gas exports from the state to try to speed the restoration of power, which could heavily impact Mexico.

U.S. LNG Exports Forecast to Exceed Pipeline Exports in 2022

EIA forecasts that U.S. liquefied natural gas (LNG) exports will exceed natural gas exports by pipeline in the first and fourth quarters of 2021 and on an annual basis in 2022.

Northern Mexico Hit With $2.7 billion Blackout due to Texas Freeze

Factories across parts of northern Mexico on Tuesday reported $2.7 billion in losses from blackouts that extended to a second day on limited natural gas supplies from Texas, where a rare winter freeze has left millions of users without light or heat.