Gas

Saudi Aramco has awarded SLB a five-year contract covering stimulation, well intervention, frac automation, and digital solutions to support the Kingdom’s large-scale unconventional gas development program.

Stonepeak has agreed to acquire Allgas, a Queensland-based gas distribution network serving about 120,000 customers, expanding its footprint in Australia’s regulated gas infrastructure market.

Chevron has signed a five-year liquefied natural gas supply agreement with Hungary’s state-owned MVM Group, providing up to 2 Bcm of LNG as the country works to diversify gas imports amid the European Union’s planned phaseout of Russian supply.

Uniper has launched a sale process for its 20% stake in the OPAL gas pipeline, one of Europe’s largest transmission corridors, as the asset progresses toward partial conversion under Germany’s Hydrogen Core Network framework.

Penspen has begun a new NIA-funded study with National Gas Transmission to evaluate whether oxygen can inhibit hydrogen embrittlement in repurposed pipeline infrastructure—critical research as the UK develops a 1,500-mile hydrogen transmission network.

Phillips 66 has increased its 2026 capital budget to $2.4 billion, directing more funds toward expanding its midstream NGL network, new fractionation and pipeline projects along the Gulf Coast, and refinery upgrades aimed at higher margins.

Great Basin Gas Transmission closed its second open season for the $1.7 billion 2028 Expansion Project in Northern Nevada, securing nearly 800 million cubic feet per day in capacity requests as demand for natural gas infrastructure continues to rise.

CRC Evans has secured a major contract for Saudi Arabia’s Master Gas III Pipeline Phase 3, delivering welding and construction on a 56-inch, 150-km pipeline. The award strengthens the company’s growing presence in the Middle East and highlights its advanced welding technologies and long-term role in the region’s gas infrastructure buildout.

Golar LNG has closed a $1.2 billion refinancing for its FLNG Gimi vessel, unlocking $400 million in liquidity and securing improved terms for one of the world’s major floating LNG assets. The deal signals strong lender appetite for offshore gas infrastructure amid rising global LNG demand.

Condor Energies has reached total depth on its first horizontal well in Uzbekistan and delivered strong gas flow from two new Jurassic workovers, pushing production to nearly 12,000 boe/d.

Blackstone Energy Transition Partners has approved a $1.2 billion investment to build West Virginia’s first combined-cycle natural gas power plant, a 600-MW facility expected to create 500 construction jobs and meet rising AI-driven electricity demand.

CSV Midstream Solutions has launched its 150 million cubic feet per day Albright gas plant in Alberta—the province’s first new sour gas facility with sulfur recovery in more than 30 years—boosting Montney processing capacity and setting the stage for future projects at Gold Creek and Valhalla.

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.