Gas

U.S. natural gas prices climbed 4% to a six-month high as near-record LNG export flows boosted demand and Lower 48 gas output dipped. LNG feedgas reached 17.9 Bcf/d, setting a new record and underscoring strong export-driven pull on U.S. pipeline supply.

The European Union will relaunch its gas demand pooling system to help companies secure non-Russian gas and expand LNG imports. The move aims to diversify supply sources, lower prices, and support the bloc’s plan to phase out all Russian oil and gas imports by 2028.

EnCap Investments has closed a $2 billion continuation vehicle for PennEnergy Resources. The fund will support development of PennEnergy’s Marcellus Shale assets, expand its natural gas inventory, and fund bolt-on growth opportunities in a favorable gas market.

Aramco has completed an $11 billion leaseback deal with a GIP-led consortium for its Jafurah gas processing and NGL facilities. The transaction supports Saudi Arabia’s largest non-associated gas project, expected to start production in late 2025 and expand capacity to 2 Bcf/d of sales gas by 2030.

U.S. natural gas futures rose 4% as forecasts for colder weather lifted demand and LNG export feedgas hit a record 17.4 Bcf/d. Near-record output and strong storage levels kept prices in check, but LNG flows to Gulf Coast terminals continue driving market strength.

Venezuela’s oil ministry said it will ask President Nicolás Maduro to suspend all energy cooperation agreements with Trinidad and Tobago, including joint gas developments such as the 4.2 Tcf Dragon field led by Shell and NGC. The move follows growing political tensions between Caracas and Port of Spain.

Tidewater Midstream has sold its Sylvan Lake gas processing facility and related gathering system to Parallax Energy for $5.5 million. The non-core asset sale will help the Calgary-based company reduce debt and focus on core midstream operations.

Dana Gas and Crescent Petroleum completed the KM250 expansion at Iraq’s Khor Mor field eight months early, boosting gas capacity by 50% to 750 MMscf/d and advancing the Kurdistan region’s clean power goals.

Centuri Holdings has appointed industry veteran Ryan Palazzo as President of U.S. Gas, strengthening leadership as demand for natural gas infrastructure services grows across North America.

Spanish gas grid operator Enagás is in discussions to buy GIC’s 32% stake in France’s Terega, the country’s second-largest gas transmission operator and a partner in the H2Med hydrogen pipeline network linking Spain, France, and Germany.

The deal strengthens Terramont’s position in North America’s midstream infrastructure market as Bull Moose expands its compression and power generation operations.

The Canadian midstream operator controls key natural gas and NGL processing, storage and transportation assets in the Montney and Duvernay regions.

The expansion supports West Texas’ growing energy demand and advances Vistra’s $2 billion plan to add 3,100 MW of new capacity in ERCOT by 2028.

West Texas is rich in natural gas but lacks the infrastructure to meet soaring AI-driven power demand. Experts say the Permian Basin must expand pipelines and generation capacity to compete with other U.S. shale regions.

The rise of artificial intelligence is fueling record growth in U.S. data center power demand, with gas-fired generation expected to play a critical role. Analysts warn that up to 10 Bcf/d of new natural gas capacity may be needed by 2030 to support AI-driven energy needs.