Executives say that Japanese utilities could find a replacement for Sakhalin-2 in the event of LNG supply interruption.
Executives said that Japanese utilities JERA, Tohoku Electric Power Co and Sakhalin-2 can find alternative sources of gas if the flow is interrupted. This comes amid U.S. demands to stop energy imports from Russia. This month, the U.S. urged Japan and other Russian energy consumers to stop imports as they push the Kremlin toward ending the Ukraine war. Japan's contracts with Sakhalin-2…
Executives say that Japanese utilities could find a replacement for Sakhalin-2 in the event of LNG supply interruption.
Executives said that Japanese utilities JERA, Tohoku Electric Power Co and Sakhalin-2 can find alternative sources of gas if the flow is interrupted. This comes amid U.S. demands to stop energy imports from Russia. This month, the U.S. urged Japan and other Russian energy consumers to stop imports as they push the Kremlin toward ending the Ukraine war. Japan's contracts with Sakhalin-2, which are long-term agreements, cover 9% of its imports of LNG.
Tokyo Gas CEO: US is priority market for overseas expansion, Tokyo Gas.
Tokyo Gas will prioritize the U.S. for its overseas expansion because of its high growth potential, CEO Shinichi SASAYAMA said on Wednesday. Japan's biggest city gas provider is looking at a possible offtake of gas from Alaska. Tokyo Gas, Japan's largest buyer of liquefied gas, and JERA (Japan's second-largest LNG buyer) have signed agreements to purchase 1 million metric tonnes of LNG each annually from the $44 billion Alaskan LNG project…
The US opens up the Alaska Wildlife Refuge to oil and Gas Development
The Trump administration announced on Thursday a series steps to open the Alaskan wilderness for energy and infrastructure development. This includes resuming leasing of oil and gas in remote Arctic National Wildlife Refuge. The Interior Department said in a statement that it will reopen the full 1.5-million-acre (0.6-million-hectare) Coastal Plain of the ANWR to leasing…
Japan claims that replacing LNG from Sakhalin-2 in Russia would be expensive.
Japan's Industry Minister said that replacing the liquefied natural gas from Russia's Sakhalin-2 Project would be expensive and lead to higher electricity rates. Scott Bessent, U.S. Treasury secretary, has urged Tokyo, ahead of U.S. president Donald Trump's trip to Japan next Monday, to cease its Russian energy purchases. These mainly include LNG, which accounts for 9% or Japan's fuel imports.
JERA, Japan's largest power generator, will buy US shale-gas assets for $1.5billion
JERA, Japan's largest power generator, announced on Thursday that it would acquire natural gas assets in the United States. This will be its first venture into shale-gas production. JERA announced that it had reached an agreement with Williams and GEP Haynesville II, pipeline operators in the Haynesville Shale Basin in western Louisiana. The agreement is for JERA to purchase 100% of their interest in the South Mansfield Gas Field.
The new Japanese Prime Minister's energy policies puts nuclear power at the heart of their policy
Sanae Takaichi, the new Japanese prime minister, is expected to press for a rapid revival of nuclear energy to combat inflation, which has been a major source of discontent amongst the public. Reactor restarts are also key to reducing expensive fuel imports. Analysts said that Takaichi appointed Ryosei Acazawa as its trade and industry minister, a position which includes energy.
New Japan PM's energy policies focuses on nuclear power
Sanae Takaichi, the new Japanese prime minister, is expected to press for a rapid revival of nuclear energy to combat inflation, which has been a major source of discontent amongst the public. Reactor restarts are also key to reducing expensive fuel imports. Analysts said that Takaichi appointed Ryosei Acazawa as its trade and industry minister, a position which includes energy.
As US onshore oil growth slows, will improved drilling boost Gulf of Mexico offshore oil production?
Analysts and consultants predict that offshore investment will continue to grow as new technology and more friendly regulations encourage investment. In recent years, the offshore oil and natural gas sector has been overshadowed by shale because it requires more upfront investment and years of construction. The entry costs for shale were lower and the returns faster, so the rapid expansion of shale led to the U.S.
Sherry Duhe, Santos' Finance Chief, resigns after one year in the role
Santos announced on Tuesday the resignation of CFO Sherry duhe, only one year after she assumed the position. The Australian gas producer is navigating a period of transition ahead of the start-up of its Barossa, and Pikka, projects. Duhe was appointed as Santos' new CEO in September of last year, amid speculation about a possible leadership change. Lachlan Harris, the current Deputy CFO of the company, has been appointed acting Finance Chief.
Court rules that Biden's ban on offshore drilling is illegal
Former U.S. A federal judge in Louisiana found that the president had exceeded his authority when he withdrawn large areas of U.S. coasts from offshore oil and natural gas development. U.S. District judge James Cain, in Lake Charles in Louisiana, sided against Republican states and groups from the oil and gas industries who sued to stop Biden's plan to protect federal waters along the East and West Coasts…
Sources say that Exxon has signed an initial agreement with Rosneft in order to map out a possible route to recover Russian losses.
According to sources familiar with these talks, U.S. oil giant Exxon Mobil signed an initial non-binding agreement to help Exxon recover a $4.6 billion loss it took on its Russian activities in 2022 due to Moscow's invasion in Ukraine. The agreement is a first step in repairing the commercial ties between the two nations, but little progress will be made until Moscow…
Australia's Santos Chief executive bets on cash-flow boost as third bidder walks away
Kevin Gallagher, Santos' boss, said on Friday that he does not plan to retire. He expects the company to see a dramatic increase in cash flow over the next few decades. This comes after the third takeover bidder in seven years backed out of a deal. A consortium led by Abu Dhabi National Oil Company, or ADNOC, failed to make a $18.7-billion bid for Santos due to disagreements over commercial terms.
JERA in Talks to Buy $1.7b of US Natural Gas Assets
Japan's top power generator JERA is in advanced talks to buy natural gas production assets in the U.S. for around $1.7 billion, people familiar with the matter said, the latest example of the Asian nation investing in America's energy sector.JERA emerged as the top bidder for the assets owned by GEP Haynesville II, a joint venture between Blackstone-backed GeoSouthern Energy and pipeline operator Williams Companies…
Alaskans fear higher energy prices as Trump drills
Alaskans spend nearly two times as much on electricity as the national average. Matt Goodnow, financial counselor at a hospital located in Homer, Alaska, a fishing village on the Kenai Peninsula, said that higher energy costs would be detrimental to the community. The Trump administration is not only planning to eliminate federal funding for renewable energy projects and to remove tax breaks…
Glenfarne and South Korea's POSCO sign 20-year deal for LNG supply
Glenfarne’s Alaska LNG unit announced on Thursday that it had signed an agreement for the provision of 1 million tonnes of LNG per year (mtpa), from its planned project, to South Korean trading company POSCO International over a period 20 years. Since the Russian invasion of Ukraine in 2022, global demand for liquefied natural gas has risen. This has led buyers in Europe and Asia into long-term supply agreements with U.S. suppliers.
US and Russian officials discussed the latest Ukraine peace talks alongside energy deals
Five sources familiar with these talks claim that U.S. officials and Russian government officials discussed energy deals in parallel to negotiations to achieve peace in Ukraine this month. They said that these deals were presented as incentives for the Kremlin, to encourage it to accept peace in Ukraine and Washington to ease sanctions against Russia. Due to sanctions imposed after the Ukraine invasion in February 2022…
US and Russian officials discussed the latest Ukraine peace talks alongside energy deals
Five sources familiar with these talks claim that U.S. officials and Russian government officials discussed energy deals in parallel to negotiations to achieve peace in Ukraine this month. They said that these deals were presented as incentives for Washington to relax sanctions against Russia and to encourage the Kremlin into peace in Ukraine. Due to sanctions imposed after the Ukraine invasion in February 2022…
Analysts say that ConocoPhillips’ deep-seated layoffs demonstrate the need for capital discipline.
Investors and analysts have said that ConocoPhillips needs to focus more on its capital discipline and its investment priorities to be competitive against its peers, as oil prices are falling and revenues are also declining. This comes after the company announced it was laying off up to 25 percent of its staff in order to reduce costs. ConocoPhillips, the third largest U.S.
GASTECH-Japan’s JERA looks at Alaska and Qatari Liquefied Natural Gas to meet demand and diversify supply
JERA, Japan's largest power generator, is increasing its interest in U.S. LNG, especially from Alaska. It is also in talks with QatarEnergy about securing faster and more efficient routes for supply to Japan. JERA, the company's Chief Low-Carbon Fuel Officer, told reporters that it is exploring other LNG suppliers than its traditional ones to meet Japan’s increasing energy needs. AI-driven data centers are driving up demand for electricity.