Business & Markets
Canada's Trudeau Urges Alberta to Contribute to Carbon-Capture Incentives
Canadian Prime Minister Justin Trudeau on Friday urged the government of the main oil-producing province of Alberta to use its budget surplus to help bolster tax credits meant to help scale up carbon capture and storage and reduce emissions.
Rosneft Wants to Supply Gas to Power-of-Siberia 2 Pipeline
Russia's Gazprom is aiming to start delivering gas via the 2,600-km Power-of-Siberia 2 pipeline by 2030. The pipeline could carry 50 billion cubic meters of natural gas per year.
Shell LNG Trading to Lift Quarterly Profits Despite Output Drop
Earnings from Shell's LNG trading operations are likely to have been significantly higher in the fourth quarter of last year despite an output drop caused by plant outages, it said on Friday.
EOG Eyes Flat Permian Activity, Tighter Global Oil Supply in 2023
Global oil supply will likely tighten this year, EOG Resources CEO Ezra Jacob said at a Goldman Sachs conference in Miami, Florida, but he cautioned the demand outlook is currently more "difficult to see."
Global Pipeline Construction Outlook 2023
(P&GJ) — Seldom has a new year arrived with the degree of supply and demand uncertainty facing global energy markets at the start of 2023. Pipeline & Gas Journal's annual survey of global construction activity reflects a renewed emphasis on energy security after Russia's invasion of Ukraine.
Proved US Reserves of Natural Gas Reach New Record
In 2021, proved reserves of natural gas set a new record in the United States, and proved reserves of crude oil and lease condensate increased, but not quite to pre-pandemic levels.
Shale Producer Pioneer Expects OPEC to Boost Oil Prices as Brent Tumbles
The Organization of the Petroleum Exporting Countries (OPEC) will likely take steps to boost oil prices, which started the year in free-fall, the chief executive of top shale producer Pioneer Natural Resources Scott Sheffield said on Thursday.
Equinor, RWE to Build Hydrogen Supply Chain for German Power Plants
Equinor and RWE said on Thursday they plan to develop a supply chain for low-carbon hydrogen, allowing Germany to cut its reliance on coal power and thus its CO2 emissions.
US Poised to Regain Crown as World's Top LNG Exporter
The United States is on track to become the world's biggest exporter of LNG this year — ahead of current market leader Australia — once a fire-idled Texas plant is restarted, according to Reuters data.
Canada Oil Sands Producers to Begin Evaluating Proposed Carbon Storage Site
Canada's largest oil sands producers signed an agreement with the Alberta government allowing them to assess the geology of an underground carbon storage site, a step in their plan to tackle greenhouse gas emissions, the companies said on Wednesday.
Sources: Tokyo Gas Nears $4.6 Billion Deal to Buy US Natural Gas Producer Rockcliff
Rockcliff produces more than 1 Bcf/d of natural gas from the Haynesville shale formation, which stretches across Louisiana and East Texas. Quantum originally backed the Rockcliff management team with a $350 million investment in 2015.
Uniper Says Working with UAE's Masdar on Hydrogen Project
German utility Uniper on Thursday said it was involved in a project with the United Arab Emirates (UAE) clean energy company Masdar to produce green hydrogen, confirming a report on Bloomberg
Baker Hughes to Provide Equipment for Petronas Carbon Capture Project
Baker Hughes will provide turbo compression equipment to transport CO2 emitted from flaring at the Kasawari gas development and reinject it into a depleted offshore field through a subsea pipeline.
Kazakhstan to Raise Supply of Oil to Germany Via Druzhba Pipeline in 2023
Russian oil pipeline operator Transneft said Kazakhstan's KazTransOil had requested 1.2 million tonnes of capacity on the Druzhba pipeline for 2023 to facilitate extra oil shipments to Germany, the RIA Novosti news agency reported.
Japan Insurers to Maintain Cover for LNG Vessels in Russian Waters
Japanese insurers are expected to maintain marine war insurance, which covers the sinking and requisition of ships due to war in Russian waters for at least three months for LNG vessels, industry sources said on Friday.
China Starts Up Crude Oil Pipeline Linked to Mega Private Refiner
A major crude oil pipeline connecting a storage farm in east China's Zhoushan of Zhejiang province to mega private refiner Zhejiang Petrochemical Corp. started pumping oil for the first time on Wednesday, local state media reported.
Tellurian Gains More Time to Fulfill LNG Supply Deal with Gunvor
The company now has until Jan. 31, 2023, a one-month extension, to meet certain terms of the deal, according to a filing on Friday. The amendments include changes to the index pricing of the fuel to be sold.
Indonesia, BP Sign 20-Year Contract Extension for LNG Operations in Papua
BP is trying to increase Tangguh's production capacity from the current 7.6 MTPA to around 11.4 MTPA by adding a new, Train-3 plant which is expected to come onstream in March 2023, SKK Migas said earlier this year.
Poland Ready for Russian Oil Ban, Seeks Pipeline Sanctions
Poland is prepared for a Russian ban on oil sales to countries implementing a price cap, the climate minister said on Thursday, with the country having cut its intake of Russian crude and secured alternative supplies from producers such as Saudi Arabia.
Inpex Signs 20-Year LNG Deal with Venture Global
Inpex Corp., Japan's biggest oil and gas explorer, said on Tuesday that it has signed a long-term LNG sales and purchase agreement with U.S.-based Venture Global LNG.
Japanese Firms Sign Multiyear Agreements to Buy LNG from Oman, US
Japanese companies inked several deals on Tuesday to receive LNG supplies, with a preliminary agreement lasting up to 10 years with Oman LNG and a 20-year deal with U.S.-based Venture Global.
Sempra Inks 15-Year LNG Supply Deal with Germany’s RWE
(P&GJ) — Sempra Infrastructure has entered a 15-year deal with RWE Supply & Trading for the supply of approximately 2.25 MTPA of LNG from the Port Arthur LNG Phase 1 project under development in Jefferson County, Texas.
NextDecade Increases LNG Supply Volume in Deal with China's ENN
U.S. LNG developer NextDecade Corp. announced it will increase the volume of LNG supplies in a sales and purchase agreement signed with China's ENN Natural Gas Co. Ltd.
Russian Pipeline Gas Exports to Europe Fall to Post-Soviet Low
Russian gas exports to Europe via pipelines plummeted to a post-Soviet low in 2022 as its largest customer cut imports due the invasion of Ukraine and the Nord Stream pipeline was damaged by mysterious blasts
Analysis: Argentina’s Vaca Muerta Shale Boom Running Out of Road
Argentina’s booming shale production in Vaca Muerta, a formation that rivals the United States’ Permian Basin, is at risk of running out of road as infrastructure to handle the oil and gas nears capacity, threatening to put the brakes on rapid growth.
Italy Court Ruling Allows Work on Tuscan LNG Terminal to Proceed
An Italian administrative court has ruled against a request for a precautionary halt on works for a new LNG terminal in the Tuscan port city of Piombino, saying it did not pose an immediate threat to public safety.
Transitus, Proteum to Produce Hydrogen in Europe Using Natural Gas from North Sea
(P&GJ) — Proteum Energy and Transitus Energy have entered into an agreement to explore joint development opportunities in the U.K., Netherlands, Republic of Ireland and Norway to produce low-carbon hydrogen by reforming natural gas resources from the North Sea.
Harvest Midstream to Acquire Phillips 66's Crude Oil Terminal in Louisiana
(P&GJ) — Harvest Midstream has entered an agreement with Phillips 66 to purchase the Belle Chasse Terminal, formerly the Alliance Refinery located in Plaquemines Parish, Louisiana. The acquisition is expected to close in the first quarter of 2023.
Looking Back at the Top 10 Midstream Stories of 2022
(P&GJ) — In this year-ending issue of P&GJ, the staff, along with a little help from its readers, has taken a look back at the frequently volatile year that was 2022. As was the case during the previous 12 months, the year brought its share of anxiety as we in the energy industry – midstream in particular – worked to adjust to the global demand for natural gas, following Russia’s invasion of Ukraine.
US, Canada Natural Gas Output Could Feel Growing Pains In 2023
U.S. and Canadian natural gas production is expected to hit new records in 2023, but growth may be slow due to weakened demand, pipeline bottlenecks and a lack of new LNG export plants.
- Repsol Ditches Plans to Develop LNG Terminal on Canada’s East Coast
- Kazakh Oil Decouples from Russian Crude But Risk Weighs on Price
- Pipeline Operator TC Energy Says Stress, Weld Fault Caused Keystone Oil Spill
- US to Sell 26 Million Barrels of Oil Reserves As Mandated by Congress
- Ukraine to Jointly Buy Gas with European Union Countries
- Company Cancels Byhalia Connection Pipeline Project
- US Intelligence Suggests Pro-Ukrainian Group Sabotaged Nord Stream Pipelines -NYT
- EIA: US Natural Gas Output to Hit Record High in 2023, Demand to Fall
- US Regulator Orders Lower Pressure on Keystone Pipeline System After Spill
- US Carbon Pipeline Faces Setback as Residents Refuse to Cede Land Rights
