Business & Markets

Russia: Future of Nord Stream 1 Depends on Gas Demand and Sanctions

Russian Foreign Ministry spokeswoman Maria Zakharova said on Thursday that the future of the Nord Stream 1 gas pipeline to Germany would depend on gas demand in Europe and Western sanctions against Russia.

European Commission Proposes Azerbaijan Gas Deal, Pipeline Expansion

The European Commission has proposed to EU countries a deal with Azerbaijan to increase imports of natural gas and support the expansion of a pipeline to do this, according to a draft document seen by Reuters.

Siemens Energy to Power Low-Emission LNG Facility in Canada

Siemens Energy has been selected as the single solution supplier for the all-electric Woodfibre LNG project in British Columbia, Canada, the company said on Tuesday.

Tellurian Acquires Natural Gas Assets in Haynesville Shale for $125 Million

Tellurian Inc. has entered into an agreement to purchase natural gas assets located in the Haynesville Shale from EnSight Energy Partners LP for $125 million, the company said on Wednesday.

Hungary, Romania Plan to Boost Capacity on Cross-Border Gas Pipeline

Hungary and Romania are in talks to increase the capacity of a natural gas pipeline interconnector that straddles their borders to more than 3 billion cubic meters of gas per year, Hungarian Foreign Minister Peter Szijjarto said on Tuesday.

Fluor Wins Contract for New Fortress Energy Fast LNG Project

Fluor Corp. has been awarded a full notice-to-proceed contract by New Fortress Energy Inc. for the engineering, procurement and fabrication management of the NFE Fast LNG 2 project.

Operator Enagas to Invest $4.8 Billion in Gas Infrastructure, Hydrogen Projects by 2030

Spanish gas grid operator Enagas said on Tuesday it expects to invest $4.77 billion in gas infrastructure, renewable hydrogen and biomethane production projects by 2030, including the completion of an underwater gas pipeline between Spain and Italy.

Serbia, Azerbaijan Discuss Gas Deal for Next Year – Minister

Serbia, which is fully dependent on Russian gas supplies, plans to purchase gas from Azerbaijan in 2023 when it expects an interconnector to Bulgaria's pipeline to be completed, Serbia's energy minister said on Tuesday.

Trans-Foreland Pipeline Seeks Extension for Alaska LNG Import Project

Marathon Petroleum Corp.'s Trans-Foreland Pipeline Co. unit said it has yet to make a final investment decision to build the project because the COVID-19 pandemic and the war in Ukraine have worsened economic and logistical conditions.

Strong LNG Demand to Keep Tanker Rates Firm in 2022, Beyond

Tanker rates to ship LNG are expected to remain firm as market players try to secure cargoes for winter demand amid soaring LNG prices and tight global supply, Reuters reported on Friday.

Spain Minister Urges Firms to Curb Russian LNG Imports

Spain's Energy Minister Teresa Ribera urged Spanish companies on Monday to reduce imports of LNG from Russia and search for alternatives and said the country was readying a contingency plan for the winter in order to help EU neighbors.

Environmental Groups Attempt to Slow LNG Exports to Europe

Despite Biden’s commitment to get more U.S. LNG to Europe, environmental groups are trying to convince FERC to slow or kill export LNG facilities and pipelines that serve them on mostly environmental grounds.

Biden Administration Issues Options for ConocoPhillips’ Alaska Oil Drilling Project

The Biden administration on Friday outlined several options for the development of ConocoPhillips' planned $6 billion Willow oil and gas project in Alaska, including a proposal to build up to five drill sites, dozens of miles of roads, seven bridges and pipelines.

Analysis: Oil Majors Face Output Slump, Deep Losses If Russia Stops Kazakh Pipeline

Western energy majors will cut output and lose billions of dollars if Russia, as is feared, suspends a pipeline that is almost the only export route for oil from land-locked Kazakhstan, company sources, traders and analysts say.

Cheniere Asks Biden Administration for Exemption from Pollution Rule

Cheniere Energy Inc. has asked the Biden administration to exempt it from a pollution rule under the U.S. Clean Air Act, arguing the limits would force the LNG exporter to shut for an extended period and endanger the country's efforts to ramp up supplies to Europe.

ICGB Completes Greece-Bulgaria Natural Gas Pipeline

Greece and Bulgaria on Friday marked the completion of the 180-km (112-mile) pipeline between the two countries which they hope can contribute to ending Europe's dependence on Russian gas.

Argentina’s Gas Pipeline Project Receives Backing, Enters Construction Phase

Argentina will take a key step on Friday in the construction of a major new natural gas pipeline for its huge Vaca Muerta shale formation, vital to helping the South American country reverse a deep energy deficit that is costing it billions of dollars.

DNV to Evaluate Use of Hydrogen in Czech Republic Pipeline

DNV, an assurance provider, has been asked by NET4GAS, the international gas transmission system operator based in the Czech Republic, to evaluate the hydrogen suitability of an existing DN 1400 pressure natural gas transmission pipeline and related stations.

Natural Gas Consumed by US Electric Power Sector Sets Record

In January 2022, natural gas consumed for electric power in the United States averaged 31.6 Bcf/d (895 MMcm/d), the highest January average on record and the highest amount for any winter month.

NFE, Pemex Partner to Develop Mexico’s Lakach Gas Field

New Fortress Energy Inc. has signed an agreement with Pemex to jointly develop the Lakach deepwater natural gas field to supply natural gas to Mexico’s onshore domestic market.

FERC Suspends Schedule for Venture Global’s Gas Plant, Pipeline Project in Louisiana

The U.S. energy regulator has suspended the environmental review schedule for Venture Global LNG's proposed CP2 LNG export plant and pipeline in Louisiana.

Austria Orders Industry to Make Switch from Natural Gas to Oil

Austria will order industry and utilities to make plants run on alternatives to natural gas where possible, especially oil, its energy minister said on Tuesday, as the country scrambles to hoard gas in case Russia cuts it off.

Russia Seizes Control of Sakhalin-1 Oil and Gas Project

A senior Russian lawmaker said on Thursday that Moscow would take control of the Sakhalin-1 oil and gas project in which Exxon Mobil, Japan's SODECO and India's ONGC Videsh are partners, a week after taking over the neighboring Sakhalin-2.

Shell Begins Construction on Renewable Hydrogen Project in Netherlands

Shell Plc said on Wednesday it would start building a renewable hydrogen plant in the Netherlands, which according to the energy giant will be Europe's largest once it is operational in 2025.

NextDecade Inks 20-Year LNG Supply Deal with Guangdong Energy Group

NextDecade Corp. has entered a 20-year sale and purchase agreement with Guangdong Energy Group for the supply of LNG from NextDecade’s Rio Grande LNG export project in Brownsville, Texas.

Italy’s Snam Buys Floating Regasification Unit for $400 Million

Italy's Snam has signed a $400-million deal with BW LNG to buy a floating storage and regasification unit (FSRU), the gas grid operator said on Wednesday, as Rome rushes to find alternative supplies to Russian gas.

Russian Court Orders Caspian Oil Pipeline to Suspend Operations

Caspian Pipeline Consortium (CPC), which takes oil from Kazakhstan to the Black Sea via one of the world's largest pipelines, has been told by a Russian court to suspend activity for 30 days, although exports were still flowing.

New Fortress Agrees to Expand Supply of Natural Gas to Baja, Build LNG Hub Offshore GOM

New Fortress Energy Inc. has entered into an agreement with Comisión Federal de Electricidad to expand the supply of natural gas to Baja California Sur and build a new LNG hub in the Gulf of Mexico (GOM).

Shell Joins Qatar's LNG Expansion Mega-Project

QatarEnergy on Tuesday signed a deal with Shell for the Gulf state's North Field East expansion, the first phase of the world's largest LNG project, following agreements with TotalEnergies, Exxon, ConocoPhillips and Eni.

New Fortress Energy to Sell LNG Maritime Infrastructure for $2 Billion to JV

New Fortress Energy Inc. has formed a new LNG joint venture on Tuesday with buyout firm Apollo Global Management Inc. and sold 11 vessels and storage units to the JV for $2 billion.