Business & Markets

Canada Commits Additional $1.5 Billion in Loans for Trans Mountain Pipeline Expansion

The Canadian government is backing up to $1.5 billion in new commercial loans for Trans Mountain Corp., the crown corporation building an over-budget and long-delayed oil pipeline expansion to the Pacific coast.

Trinidad: First Output from Venezuela's Dragon Gas Field Expected in 2 Years

A natural gas project to be developed in Venezuelan waters by Shell and Trinidad and Tobago's state firm National Gas Company could achieve first output in the next two years if a positive investment decision is made, Trinidad officials said on Friday.

TotalEnergies to Restart Its Delayed Mozambique LNG Project in Early 2024

French energy firm TotalEnergies plans to restart its long-delayed $20 billion Mozambique liquefied natural gas (LNG) project in the first quarter of next year, two sources told Reuters late on Friday.

China Seeks Exemption from U.S. Sanctions on Russian LNG Plant

China's state oil majors CNPC and CNOOC have both asked the U.S. government for exemptions from sanctions on a new Russian LNG export plant, a Beijing-based industry official with direct knowledge of the matter said.

Equinor Unloads Azerbaijan Assets, Including BTC Pipeline

Norway's Equinor said on Friday it has agreed to sell its assets in Azerbaijan to state-owned energy firm SOCAR, including interests in the ACG oilfield and the BTC pipeline for an undisclosed price.

Lack of Arctic Tankers Puts Russia's LNG Development Dreams on Ice

Russia is hoping its shipments of liquefied natural gas (LNG) will offset a sharp fall in pipeline gas exports to Europe, but a shortage of gas tankers and sanctions hold back its plans, analysts and industry sources said.

Smart Tech Takes Aim at U.S. Methane Emissions

(P&GJ) — It’s hardly surprising that major gas leaks hit international headlines. Known as super-emitter events, these leaks cause plumes of methane to escape into our atmosphere — sometimes for days on end. However, these leaks are often spotted by satellites orbiting our planet before they are even known about on Earth.

Energy Transfer Faces Allegations of Anti-Competitive Practices in Louisiana Pipeline Dispute

(P&GJ) — The dispute centers around Energy Transfer's denial of three projects seeking to cross its pipelines, leading to a legal battle impacting over $2 billion in energy infrastructure.

Germany's $55 Billion Gas Deal with Norway Ends Russian Dependency

Germany's decision to make Norway its biggest gas supplier, culminating in a deal this week that will cover a major chunk of its industrial needs, means it has replaced the formerly dominant Russia with another equally dominant supplier.

Canada Regulator Denies Trans Mountain Variance Due to Pipeline Integrity, Environmental Concerns

The Canada Energy Regulator said on Wednesday it denied a variance request from the Trans Mountain expansion project because the application did not adequately address concerns about pipeline integrity and environmental protection impacts.

ADNOC Signs 15-Year LNG Supply Deal with Unit of China's ENN

Abu Dhabi's state oil giant ADNOC said on Wednesday it signed a 15-year agreement to deliver at least 1 million metric tons a year of LNG to a subsidiary of China's ENN Natural Gas.

Shell, Trinidad's NGC Get License to Develop Venezuela's Dragon Gas Field

Shell and Trinidad and Tobago's National Gas Company (NGC) were awarded a license by Venezuela on Thursday to develop the 4.2 trillion cubic feet (Tcf) Dragon gas field and export its production to the Caribbean nation.

Woodside Energy to Supply LNG to Pilbara Minerals Unit

Woodside Energy said on Thursday it has signed a sales and purchase agreement with a unit of Pilbara Minerals for the supply of domestic liquefied natural gas (LNG) from its Pluto Truck Loading Facility in Western Australia.

Russia's Novatek Issues Force Majeure Notices Over Arctic LNG 2 Project

Novatek, Russia's largest producer of LNG, has sent force majeure notifications to some of its clients over future supplies from its Arctic LNG 2 project, four industry sources told Reuters on Thursday.

Harbour Energy Strikes $11.2 Billion Deal for Wintershall Dea Assets

Britain's Harbour Energy on Thursday agreed to acquire Wintershall Dea's non-Russian oil and gas assets in a $11.2 billion share and cash deal with BASF and LetterOne that creates one of the world's largest independent producers.

Balticconnector Still on Course for April Repair, Gasgrid Says

Finnish gas grid operator Gasgrid on Thursday said commissioning of the Balticconnector gas pipeline between Finland and Estonia was still technically possible in April of 2024, provided that ongoing design and repair work was successful.

FERC Approves MVP’s Southgate Gas Pipeline Extension in North Carolina, Alongside Rate Hike

(P&GJ) — The Mountain Valley Pipeline (MVP) has received two federal approvals from the Federal Energy Regulatory Commission (FERC): one for increased rates on the transportation of natural gas through the 303-mile pipeline and the other for additional time for the construction of a North Carolina extension known as the Southgate Project.

Study: Texas Grid Over Relies on Natural Gas to Restore Power After Blackouts

The Texas electric grid is too dependent on natural gas-fired backup power generators after blackouts, U.S. regulators found on Tuesday in a study that also called for gas suppliers and electric utilities to sync their plans to recover from outages.

DNV and NGT Collaborate on Pioneering Hydrogen Pipeline Research for UK's Gas Network

DNV has announced that it is the lead partner for National Gas Transmission (NGT) in further expanding a world first hydrogen pipeline research facility FutureGrid. DNV will support NGT in developing a hydrogen de-blending, purification, and re-fueling facility at the site.

Mubadala Energy Makes Major Gas Discovery in Indonesia’s South Andaman

United Arab Emirates' Mubadala Energy said it discovered a major deep sea gas reserve in Indonesia's South Andaman Block, which analysts said is the world's second-largest deepwater discovery this year.

Germany's Stade LNG Project Set for February Arrival of Floating Terminal

Germany's emerging LNG terminal in the Elbe river port of Stade expects its floating regasification vessel (FSRU) to arrive in February, allowing seaborne gas cargoes to be fed into local pipeline grids, its management said on Wednesday.

Mexico Shows Elevated Methane Emissions from Gas Pipeline, Scientists Report

Mexico emitted "extreme" amounts of methane from a natural gas pipeline running through its northern border state, Durango, in 2019, a research paper published on Tuesday showed, citing data collected from satellites.

Beijing Eyes Broader Energy Collaboration with Russia, Discusses Power of Siberia 2 Gas Pipeline

Beijing intends to expand energy cooperation with Russia along all stages of production, and Chinese Ambassador to Russia Zhang Hanhui said that both countries were in active discussions about Russia's planned Power of Siberia 2 gas pipeline.

Putin Directs Removal of Wintershall Dea, OMV Stakes in Russian Arctic Gas Projects

Russian President Vladimir Putin has ordered that Wintershall Dea and OMV be stripped of multibillion-dollar stakes in gas extraction projects in Russia's Arctic.

U.S. Purchases 2.1 Million Barrels for Strategic Reserve, Below 2022 Average Price

The U.S. bought 2.1 million barrels of crude oil, the Energy Department said on Tuesday, to help replenish the Strategic Petroleum Reserve (SPR) after the largest sale in history last year.

Some LNG Vessels Avoid Passing Yemen as Red Sea Attacks Increase

Several liquefied natural gas (LNG) vessels have changed their courses in recent days to avoid the Red Sea region amid maritime attacks by Yemen's Iran-aligned Houthis on the world's main East-West trade route.

BP Short-Lists Three Internal Candidates for CEO

BP's board has short-listed interim CEO Murray Auchincloss and two senior female executives as internal candidates to replace Bernard Looney as chief executive, three company and industry sources told Reuters.

FERC Approves $1.2 Billion PJM Settlement for Outages During 2022 Storm

The Federal Energy Regulatory Commission (FERC) on Tuesday approved a $1.2 billion settlement between PJM Interconnection and more than 80 parties that resolved complaints stemming from a massive outage during a 2022 winter storm.

Congo LNG Project Boosts Drive for Viable Gas Economy

(P&GJ) — The Republic of Congo is among the African countries making progress in harnessing natural gas for export as LNG, as well as meeting the energy demands of an increasing population — now estimated at 6 million — and expanding its installed electricity capacity of 600 MW by 2018.

Natural Gas’ Sleeping Giant Explores Its Possibilities

(P&GJ) — Africa is a land full of promise, blessed with abundant resources and huge untapped potential in human capital. And when it comes to natural gas, the country’s gas reserves in 2021 were estimated at 625.6 Tcf, which is nearly equivalent to that of the United States.