Dominican Republic Kicks Off Licensing Round
The Dominican Republic's first oil licensing round will be a success if it awards more than two of the 14 blocks on offer this year, a government official said at an event disclosing the Caribbean nation's fiscal terms.The licensing round, which began on Wednesday with disclosure of contract terms, comes after Brazil, Guyana and Mexico attracted billions of dollars in oil investment.
European Gas Prices Fall To 10-Years Low
European natural gas prices reached their lowest in at least a decade, fueled by a battle for market share between Russia, traditionally the continent's supplier, and the U.S., whose gas exports have gained momentum on the back of the shale boom.European natural gas prices are at a historical low and below the cost of shipping gas from the US to Europe.
Pavilion Acquires LNG assets of Iberdrola
Singapore-based LNG company Pavilion Energy said its wholly owned subsidiary Pavilion Energy Trading & Supply has agreed to buy Spanish energy company Iberdrola's portfolio of liquefied natural gas (LNG) assets.The portfolio comprises about 4 million tonnes per annum (mtpa) of Iberdrola's long-term LNG sale and supply…
Natural Gas Flaring Hits Record High
As spot prices in the region have remained near or below zero, natural gas flaring and venting in the Permian Basin in Texas and New Mexico reached a new all-time high in the first quarter of 2019, averaging as much as 661 million cubic feet per day (MMcfd).According to research conducted by Rystad Energy, this widespread…
Repsol's Q1 Net Profit Rises
Spanish oil and gas firm Repsol said on Tuesday first quarter adjusted net profit rose 6 percent from a year earlier, as a fall in oil and gas prices and a halt to production in Libya were offset by lower costs and a stronger U.S.
GasLog Predicts LNG Spot Rate Recovery
GasLog Partners, which owns, operates, and acquires liquefied natural gas (LNG) carriers under multi-year charters, said that the longer-term outlook for natural gas demand continued to strengthen in the first quarter of 2019.Despite LNG demand in the first quarter of 2019 being negatively impacted by warmer than usual weather in the Northern Hemisphere winter…
Gas Production Set to Triple in Iraq
Gas developments in Iraq will overtake oil projects in 2019, measured in resources sanctioned for development, according to analysis from Rystad Energy."For the world’s fourth largest crude producer, natural gas is about to take pole position," said a statement from the energy research and business intelligence company.New…
Energy Demand Rose at a Record Rate
Global energy demand grew 2.3% last year, marking its fastest pace in a decade, amid a robust global economy and stronger heating and cooling needs in many regions, said the International Energy Agency (IEA).Natural gas emerged as the fuel of choice, posting the biggest gains and accounting for 45% of the rise in energy consumption.
Russian Share of European Gas Growing
With gas supplies growing at a faster rate than domestic demand, Russia can increase pipeline and liquefied natural gas (LNG) exports to Europe, said a report.Russia’s gas production has been steadily increasing since the low of 611 Bcm in 2015, and reached 695 Bcm in 2018, according to a report form Rystad Energy,…
U.S. LNG Exports Soar, Europe a Big Buyer
U.S. LNG to Europe may squeeze out smaller gas suppliers.Shipments of U.S. liquefied natural gas (LNG) have gathered pace in March and Europe is set to stay a top destination for spot cargoes with Asian prices still too low to ship the chilled fuel that far.But winter demand for gas is fading, while steady supplies of gas and LNG have kept inventories well stocked…
Natural Gas Contributes to Low Carbon Future
Equinor sold natural gas for around $26 billion in total in 2018, an increase of 29 percent from 2017. As more countries prepare for the energy transition, Equinor sees strong market opportunities for gas and expects global demand to grow by around 10% towards 2030.Equinor is the largest producer of natural gas on the Norwegian continental shelf and the second-largest gas supplier to Europe.
Gazprom to Start Gas Supply to China
Russian gas giant Gazprom will start supplying Russian natural gas to China via the Power of Siberia pipeline almost one month early than previously planned.Alexey Miller, Chairman of Gazprom Management Committee, said after the negotiations with representatives of Chinese partner CNPC in Beijing, “Construction of the Power of Siberia gas pipeline is going ahead of schedule…
EIA: Azerbaijan Surges in Natural Gas
Azerbaijan is an important supplier of crude oil and natural gas in the Caspian Sea region, particularly to European markets, the US Energy Information Administration said in its report.The EIA’s report notes that Azerbaijan’s exports of natural gas are poised to become a more significant part of the country’s economy.Azerbaijan…
Excelerate FSRUs Hit Send-out Milestone
US-based LNG solutions company Excelerate Energy's Northeast Gateway Deepwater Terminal (Northeast Gateway), located offshore Boston, reached a peak send-out flow rate of over 800,000 MMBTU per day of natural gas on February 1, 2019, a first for the terminal.The operation was completed by two of Excelerate’s floating storage regasification units (FSRUs)…
Japan Ink LNG Supply Deal with China
Japanese natural gas utility and supplier Shizuoka Gas signed an LNG sale and purchase agreement with Clean Energy in China for the delivery of chilled fuel from the Shimizu LNG terminal in ISO containers.Shizuoka Gas has been seeking further utilizations of Shimizu LNG terminal since 2017 when it made a success of…
US Natural Gas Demand Nears Record High
U.S. homes and businesses will likely use record amounts of natural gas for heating on Wednesday as an Arctic-like freeze blankets the eastern half of the country, according to energy analysts.Harsh winds brought record-low temperatures across much of the Midwest, unnerving even residents accustomed to brutal winters…
Exxon, BHP to Develop West Barracouta Gas Field
ExxonMobil Corp and the world's top miner BHP Billiton said on Thursday they approved development of the West Barracouta gas field in the Gippsland Basin in Australia, to bring fresh gas to Australian domestic markets.Exxon said the project, located off the shore of the state of Victoria, is part of its continuing investment in the Gippsland Basin, an area rich in oil and gas.
UKCS Still Worth Investment Despite Brexit -Equinor
Norwegian oil and gas firm Equinor will remain committed to the mature British continental shelf regardless of the country's plans to leave the European Union, a senior executive told Reuters.British Prime Minister Theresa May abruptly decided on Monday to pull a parliamentary vote on the Brexit deal, thrusting U.K.'s divorce from the EU into chaos…
ADNOC, Inpex in LNG Bunkering Pact
ADNOC Logistics & Services (ADNOC L&S), a wholly-owned subsidiary of UAE's ADNOC, has signed an agreement with Japan's Inpex Corp to collaborate on LNG bunkering activities.Under the agreement, ADNOC L&S and Inpex will explore opportunities for LNG bunkering in the UAE as well as the potential to jointly expand LNG bunkering activities to cover other regions…
Gazprom Starts Operations at Final Yamal Unit
Russian gas giant Gazprom said on Wednesday it had begun operations at a third and final unit at its Bovanenkovo gas field on the Arctic Yamal peninsula, allowing it to boost natural gas production.Gazprom also said it had increased the capacity of the Ukhta-Torzhok gas pipeline, aimed at facilitating Russian gas exports to northern Europe, including via the Nord Stream pipeline.Gazprom plans
