Global natural gas markets are on the verge of a major transformation, with unprecedented LNG capacity growth projected through the end of the decade, according to the International Energy Agency’s new Gas 2025 outlook released Monday.
Shell CEO Wael Sawan says LNG will be the company’s biggest growth driver over the next decade, with demand expected to climb 60% by 2040 and key projects underway in Canada, Abu Dhabi and Nigeria.
ExxonMobil will cut 2,000 jobs worldwide as part of a global restructuring, adding to widespread oil and gas sector layoffs amid weaker prices and industry consolidation.
The report highlights steady U.S. shale output, rising production from Brazil and Guyana, and LNG demand growth to 900 Bcm by 2035, led by U.S. and Middle East exports.
ADNOC’s investment arm and partners have withdrawn their $18.7 billion takeover bid for Australian gas producer Santos, ending months of talks and slowing the UAE company’s global gas expansion strategy.
Wood Mackenzie expects new gas-fired generation projects of around 890 gigawatt (GW) capacity to be added globally between 2025 and 2040, with the U.S. and China leading at 47% annual additions during the same period.
Elon Musk’s xAI allegedly installed more gas turbines at its Tennessee data center without proper permits, potentially violating the Clean Air Act, according to local environmental groups. The expanded operations may make xAI a top pollution source in Memphis.
The 2024 Gulf Energy Information Excellence Awards was held on Wednesday evening at the Post Oak Hotel in Houston, Texas (U.S.). The black-tie gala recognized the energy industry’s leading innovations and thought leaders.
As the nation’s second-largest natural gas producer, Pennsylvania is crucial in the upcoming election, with energy policies on LNG and fracing poised to shape the battleground state’s economy. Harris’s approach remains unclear, leaving industry leaders concerned about the potential impact on jobs and energy costs.
U.S. crude oil export gains should plateau in 2024 after years of strong growth, with domestic output expected to increase by the smallest amount since the pandemic at a time when global oil demand remains sluggish.
Brazil's privately owned Grupo Potencial will invest $37 million to build two "green fuel" pipelines in the south of the farm powerhouse, the company's Vice-President Carlos Hammerschmidt said on Monday.
The project will have access to the European market through the “SoutH2 Corridor”, a hydrogen pipeline project connecting North Africa to Italy, Austria, and Germany, which is expected to be commissioned around 2030.
Acquiring oilfields in Guyana from Hess would provide Chevron with a means to mitigate the geopolitical risks tied to the TengizChevroil project in Kazakhstan. In addition, this acquisition could counterbalance the cost overruns experienced at Chevron's Australian LNG projects, which have been affected by labor and operational issues.
Venezuela has about 30 trillion cubic feet of non associated gas reserves, which remain largely undeveloped due to lack of investment, and more recently US sanctions.
Moscow has slashed gas exports to Europe since invading Ukraine in 2022, and an undersea explosion shut down the Nord Stream pipeline from former top gas supplier Russia to Germany. The EU has rapidly replaced Russian fuel with renewable energy and more gas from other suppliers. But the bloc still got 15% of its gas from Russia last year.
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