Pipeline operator Enbridge raised its full-year profit forecast on Friday as it benefits from newly acquired assets and said it was well-positioned to capitalize on growing demand for natural gas to supply U.S. data centers.
The U.S. has reinforced its position as the leading global producer of natural gas and LNG exporter, with notable increases in LNG supply and significant reductions in European and Russian gas imports.
Russian energy giant Gazprom's average daily natural gas supplies to Europe in July reached their highest this year, up 5.7% compared with a year ago and 12% higher than in June, Reuters calculations showed.
Texas-based Freeport LNG is the country's second-largest LNG export facility, and its production woes in the last few years have played a crucial role in swings in U.S. natural gas and global LNG prices.
TC Energy revealed that 300 data centers under construction in the U.S. will require an additional 6-8 Bcf/d of natural gas, with over 60% of these centers located within 50 miles of their pipelines.
Enbridge, WhiteWater and MPLX have approved the 365-mile Blackcomb Pipeline to transport up to 2.5 Bcf/d of natural gas from the Permian Basin to the Gulf Coast. The project aims to enhance gas takeaway capacity and is slated for completion in late 2026.
India's Hindustan Petroleum is scouting for LNG import deals as it expects to start its 5 million ton per year LNG terminal in western India by end of this year, its head of finance said on Tuesday.
Analysts say that is a sure sign the Permian Basin region needs more gas pipelines, which has already prompted Kinder Morgan, Energy Transfer and other U.S. energy firms to propose new projects.
Enterprise Products Partners is expanding the company’s NGL export capacity by 300,000 bbl/d in the Houston Ship Channel to meet strong demand.
Williams Cos.’ $1 billion pipeline project is halted after a U.S. appeals court overturns the Federal Energy Regulatory Commission's approval, citing inadequate environmental and public interest reviews.
The latest round of deals kicked off last autumn with Exxon's $60 billion offer for Pioneer Natural and has spread through the U.S. energy industry, moving across Texas and North Dakota oil and gas producers to energy pipeline operators.
Spanish utility Iberdrola faces claims worth up to $535 million in an arbitration process launched by Singaporean LNG company Pavilion Energy over a supply contract, according to Iberdrola's earnings report.
TC Energy said it will sell a minority stake in its Nova Gas transmission system and the Foothills pipeline assets for $722.1 million to certain indigenous Canadian communities as part of a plan to reduce its debt and fund investments.
The pipeline will supply natural gas to the Xinhui Daze gas thermal power project in Daze, Xinhui, Jiangmen, Guangdong.
EDF's Italian unit Edison will sell its gas storage unit to gas grid operator Snam in a deal giving the assets an enterprise value of around $608 million, the two companies said on Thursday.
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