Business & Markets

US New England Set to Get First LNG Cargo Since Summer

New England could get a load of much needed LNG for the winter heating season in coming days from a vessel full of the super-cooled fuel that is sitting in Boston Harbor.

Qatar Signs 27-Year Deal with China as LNG Competition Heats Up

QatarEnergy has signed a 27-year deal to supply China's Sinopec with LNG, the longest such LNG agreement so far as volatile markets drive buyers to seek long-term deals.

Delfin Gets More Time to Build US Gulf of Mexico LNG Export Plant

U.S. energy regulators on Friday extended until September 2023 the amount of time liquefied natural gas developer Delfin LNG has to put the onshore part of its proposed Gulf of Mexico floating export project off Louisiana into service.

Shell's Zydeco Oil Pipeline Running at Reduced Capacity

Shell Pipeline Co.'s Zydeco oil pipeline from Houston to Port Neches, Texas, is operating at reduced capacity due to project work at Port Neches, and is expected to remain at reduced capacity until mid to late December, the company said on Thursday.

High Energy Prices Expected Through 2023

(P&GJ) — A variety of U.S. energy prices will remain historically high through 2023, including oil, natural gas, coal and electricity, according to its Short-Term Energy Outlook.

Mexico In Talks with US Storage Providers to Set Up Gas Reserve

Mexico is in talks with U.S. storage providers to create a strategic gas reserve that could be used in emergencies, an official with the country's state power utility said, after a 2021 cold snap left businesses in northern Mexico without gas.

White House Asks Congress for $500 Million to Modernize Oil Reserve

The Biden administration has asked Congress for $500 million to modernize the U.S. strategic petroleum reserve (SPR), a document outlining the request shows. The SPR oil is stored in hollowed-out, underground salt caverns that can shift and potentially require maintenance when petroleum is removed and replaced.

Green Groups Sue Louisiana Over Venture Global LNG Permit Exemption

Three environmental groups have sued the Louisiana Department of Natural Resources for exempting Venture Global LNG from needing an environmental permit to build a LNG terminal, the organizations said on Wednesday.

Malaysia's Petronas Interested to Join Abadi LNG Project

Malaysian state oil and gas company Petronas has expressed interest to participate in Indonesia's takeover of Shell's stake in the Abadi LNG project, Indonesia's upstream oil and gas regulator told a parliamentary hearing on Wednesday.

EIG Targets Australia's Origin to Build Global LNG Company

EIG, teaming with Brookfield Asset Management in a A$15.5 billion ($10.5 billion) bid to split Australia's Origin Energy, is looking to use the deal to help build a global LNG company, its boss said on Wednesday.

New Fortress to Sign Deal for Mexico's Lakach Gas Project Next Week

U.S. company New Fortress Energy expects to sign an agreement next week with the Mexican government for the development of a LNG project associated with Mexico's Lakach offshore gas field, a company executive said on Wednesday.

UGI to Develop Fifth Renewable Natural Gas Project in Upstate New York

(P&GJ) — The project is expected to produce approximately 35 million cubic feet of RNG annually that will be delivered to a local natural gas pipeline serving the regional distribution system.

Trinidad Soon to Decide on Bids for Deepwater Gas Exploration Auction

Trinidad and Tobago's Cabinet will make a decision soon on bids submitted for four deepwater exploration blocks that are key to expanding its natural gas production, Energy Minister Stuart Young said.

Germany Completes Construction of Wilhelmshaven Floating LNG Terminal

Germany on Tuesday completed construction of its first floating terminal for LNG at the North Sea port of Wilhelmshaven as it scrambles to secure more LNG and move away from Russian pipeline gas.

Oil Prices Settle Higher on Druzhba Oil Pipeline Disruption

Oil prices rose on Tuesday and settled higher after news that oil supply to Hungary via the Druzhba oil pipeline has been temporarily suspended due to a fall in pressure. Russia's state-owned pipeline monopoly Transneft has been notified by Ukraine of the pipeline disruption, the RIA news agency quoted Transneft as saying on Tuesday.

US Natural Gas Futures Pare Gains on Texas Freeport LNG Delay Rumors

U.S. natural gas futures pared earlier gains on Monday from up over 8% to up just 3% on unconfirmed rumors that Freeport LNG delayed the restart of its liquefied natural gas export plant in Texas from November to December.

Poland Gains Control of Gazprom’s Local Gas Pipeline Assets

Poland will take over Gazprom's Polish assets, a minister said on Monday, adding the move concerned the Russian company's 48% stake in Europolgaz, which owns the Polish section of the Yamal gas pipeline.

Mexico's Pemex to Work with EPA to Bring Down Methane Emissions

Mexican state oil company Pemex said Saturday that it would work with the U.S. Environmental Protection Agency (EPA) to reduce greenhouse gas emissions — especially methane — to meet ambitious international commitments.

Norway's Aker BP Wants "Price Floor" in European Gas Supply Deals

European buyers of Norwegian natural gas should commit to paying a minimum price if they want to obtain long-term supply deals that prevent price spikes like those seen this year, the chair of Norwegian producer Aker BP told Reuters.

Oil Refiner Citgo Petroleum Reports $477 Million Third Quarter Profit

Oil refiner Citgo Petroleum on Thursday reported third quarter earnings of $477 million on strong margins and higher throughput at its three U.S. oil processing plants.

Canada, Nigeria Target Oil and Gas Methane Emissions with New Laws

Oil and gas producers Canada and Nigeria have become the latest countries to tackle the potent greenhouse gas methane with laws to rein in emissions in the fossil fuel energy sector.

Portugal Seeks to Become Major Exporter of Green Hydrogen

Portugal expects to become a major producer and exporter of green hydrogen with 70 private investors or groups planning to spend 10 billion euros ($10.2 billion), the environment minister said on Thursday.

Chevron, MOL to Study CO2 Shipping from Singapore to Australia

(P&GJ) — Chevron Corp. has signed joint study agreement with Mitsui O.S.K. Lines Ltd. (MOL) to study the feasibility of transporting liquified carbon dioxide from Singapore to permanent storage locations offshore Australia.

US, EU Plan New Pledge Targeting Oil and Gas Methane Emissions

The United States and European Union plan to unveil a joint agreement at the U.N. climate summit this week to step up efforts to reduce emissions of the potent greenhouse gas methane from the fossil fuel sector and are hoping other nations will sign up.

US Allows Transactions to Free Sanctioned Oil Tanker Stranded in Indonesia

The Indonesian navy has been trying to free the Djibouti-registered ship, Young Yong, which ran aground off Indonesia's Riau Islands on Oct. 26 near a gas pipeline.

Alaska State Company Proposes Hydrogen Hub, Eyeing Federal Funds

"The Alaska Hydrogen Hub concept anticipates using $850 million in DOE funding along with $3.75 billion in private-sector funds, backed by offtake agreements from hydrogen customers in the U.S. and Asia," the Alaskan state-owned AGDC said.

INGAA CEO Writes to President Biden to Address New England Reliability Concerns

(P&GJ) — Interstate Natural Gas Association of America (INGAA) President and CEO Amy Andryszak sent a letter to President Biden on Monday to address New England gas-electric reliability concerns brought forward in a letter from Eversource President and CEO Joseph R. Nolan Jr.

Mauritania and BP to Explore Green Hydrogen Projects

BP has signed an agreement with Mauritania to explore ways to develop low-carbon hydrogen on a large scale in the West African country, the British energy company said on Tuesday

Two New Natural Gas Reservoirs Discovered in Bahrain

Bahrain has announced two natural gas discoveries in the Al-Joubah and Al-Jawf reservoirs, state news agency BNA said on Tuesday.

Exxon Mobil to Start Gas Reserve Seismic Surveys in Greece

Exxon Mobil will start conducting seismic surveys in two blocks southwest of Greece's Peloponnese peninsula and the island of Crete in the coming days, Prime Minister Kyriakos Mitsotakis said on Monday.