CORRECTED - BP sells 20% stake in Manakin Gas Field to Trinidad's NGC
BP 'has agreed to sell a 20% stake in a block containing the Trinidad portion in the Cocuina Manakin natural-gas field across the border to the state-owned National Gas Company of Trinidad, the company announced on Monday via email. BP reported that BP and NGC had signed the agreement on?Monday. Cocuina and Manakin, which contain 1 trillion cubic feet in natural gas reserves, lie on the border between Trinidad and Tobago…
BP sells 20% stake in Manakin Gas Field to Trinidad's NGC
BP announced on Monday that it had agreed to sell a 20 percent stake to the state-owned National Gas Company of Trinidad in a block containing the Trinidad portion the Cocuina Manakin natural 'gas field. BP reported that the NGC and BP signed the agreement on Monday. The Cocuina and Manakin fields, which contain 1 trillion cubic feet in natural gas reserves, lie on the border between Trinidad and Tobago…
Matador Resources JV increases Delaware Basin footprint by $752 Million Cardinal Deal
Matador Resources, an oil and gas company, announced?on Monday that its joint venture San Mateo Midstream had agreed to purchase the operating subsidiaries of Cardinal Midstream Partners for a total of $752 million?in cash. The deal reflects the continued consolidation of the U.S. Energy Sector as producers and midstream operators expand their infrastructure and scale to support increasing shale production and growing liquefied gas export demand.
Western LNG CEO: Canada's proposed Ksi Lisims LNG plant in talks with'several utilities' to supply LNG to Europe
The CEO of Houston's Western LNG, which is the main proponent of the project said that the proposed Canadian?Ksi?Lisims LNG Export Facility has been in contact with several European utilities who are interested in buying liquefied gas from the West Coast of Canada. Davis Thames stated that Ksi Lisims is expecting to announce more agreements "shortly" after a deal to supply Germany's SEFE, the state-owned energy company.
Sources say that Trinidad's Atlantic LNG has shut down its processing unit to perform maintenance.
Gerald Ramdeen, the Chairman of the National Gas Company of Trinidad and Tobago (NGC) and two other people familiar with the operation, said that the flagship?LNG?facility of Trinidad and Tobago shut down its Train 4 processing unit for planned maintenance on Tuesday. Sources said that the outage could last for nearly two months and affect as much as 50% of Atlantic LNG’s total production capacity.
Australia requires LNG exporters reserve 20% of their gas for the east coast market
The Australian government announced on Thursday that 'energy producers should reserve 20% of the natural gas they produce for the domestic market on Australia's east coast to avoid supply shortages and lower energy costs. The government announced that the scheme would be implemented in July of next year, and will replace several current market interventions. The reservation scheme will affect three liquefied gas export projects on the East Coast operated by Origin Energy?, Shell?, and Santos.
ConocoPhillips predicts lower annual production
ConocoPhillips, an oil & gas producer, said on Thursday that it expected lower annual production and highlighted the 'impact' of uncertainty in the Middle East. Qatar output was excluded. Oil prices have risen by over 88% in this year due to the conflict in the Middle East, but damage to the energy infrastructure has hurt production. ConocoPhillips has partnered with QatarEnergy to build a liquefied gas export facility, which is one of 'the world's largest suppliers of super-cooled gas.
Rio Grande Requests Extension to Build Texas Export Facilities
Rio Grande LNG has sought a three-year extension from the U.S. Federal Energy Regulatory Commission to construct an export facility in Texas, according to a filing.The company requires the time to build certain project facilities and make the liquefied natural gas export plant at the Port of Brownsville available for service by November 2031, it said in the filing to the energy regulator on Friday.Rio Grande LNG is an under-construction facility owned by NextDecade…
US Natural Gas Reach a One-Week High as Output Drops, LNG Exports Surge
U.S. natural gas futures edged up to a fresh one-week high on Monday on a drop in output over the past couple of weeks and forecasts for cooler weather and higher demand through early May than previously expected.Gas futures were also supported by near-record gas flows to U.S. liquefied natural gas export plants and a roughly 6% jump in crude futures on fears the U.S.-Iran ceasefire could collapse after the U.S. seized an Iranian cargo ship.
European buyers discuss shipping Canadian LNG through the Panama Canal as a diversification of supply
Two sources with knowledge of the situation said that European 'buyers', including Germany's Uniper are looking into the possibility of buying liquefied gas from Canada on the Pacific coast, and shipping it via the Panama Canal as part of a strategy to diversify the'supply'. This effort has become more urgent since the 'Iran 'war'. Three sources claim that European buyers have held commercial discussions with Canada's Ksi Lisims LNG.
FERC approves NextDecade’s request for more employees and longer hours in Texas
According to a'regulatory filing,' U.S. federal regulatory authorities approved on Friday a request by NextDecade for an increase in the number of workers who will be working at the Rio Grande LNG project in Texas. NextDecade informed regulators that geopolitical tensions in the world had increased demand for U.S. Liquefied Natural Gas (LNG), prompting developers and companies to act quickly to bring new supplies online. Global LNG supply issues have been caused by the Iran war.
Australia's resources outlook is delayed due to 'extreme volatility caused by the Iran war'
The Australian government's quarterly energy and resources outlook was delayed for the very first time due to the "extreme volatility", caused by the U.S./Israel war on Iran. This is making forecasts outdated, according to a spokesperson. The delay comes as Australia's Government faces?growing demands for a windfall?tax on?liquefied?natural?gas export profits, while some miners are struggling to secure diesel supplies.
Gas prices in Europe fall due to forecasted milder temperatures
Dutch and British wholesale gasoline prices dropped on Monday morning due to forecasts of milder temperatures than previously anticipated. Data compiled by LSEG revealed that the benchmark Dutch front-month contracts at?the TTF Hub were down 2.13 Euros?at a price of?32.72 per megawatt hour (MWh) or $11.39 /mmBtu by 0926 GMT. The Dutch April contract dropped by 1.73 euros to 30.67 euros/MWh. The British contract for the day-ahead price dropped by 8.25 pence to 82.25 p/therm.
EUROPE GAS-Dutch prices fall tracking U.S. futures
Dutch wholesale gas prices fell on Wednesday morning, as U.S. Natural Gas Futures fell. Demand and supply forecasts in north-west Europe were stable. LSEG data revealed that the benchmark European gas contract - the front-month Dutch contract on TTF hub - was?down 1.67 euros to 37.95 euros for a megawatt hour (MWh), which is $11.03/mmBtu, at 0908 GMT. The contract for March fell by 1,54 euros, to 36.26 Euro/MWh.
US Natural Gas Falls Over 5% Ahead of Above Normal Temperatures
U.S. natural gas futures fell over 5% on Tuesday, pressured by forecasts of above normal temperatures next week, though the market was set for a second consecutive yearly gain led by record gas flows to liquefied natural gas export plants. Front-month gas futures for February delivery on the New York Mercantile Exchange traded 20.3 cents lower, or 5.1%, to $3.77 per million British thermal units. The contract was up over 4% so far this year.
US Natural Gas Futures Rise as Forecasts Predict Colder Weather
U.S. natural gas futures rose on Friday in thin-volume trading and were on track for a weekly gain, ending a two-week losing streak, as forecasts pointed to colder weather and increased demand in the weeks ahead.Front-month gas futures for January delivery on the New York Mercantile Exchange were up 4.4 cents, or 1% at $4.29 per million British thermal units. The contract was up 8.5% so far this week.Prices reached their highest level since December 11…
US Natural Gas Futures Rise Alongside LNG Export Demand
U.S. natural gas futures rose 4% on Tuesday, boosted by record gas flows to liquefied natural gas export plants and forecasts for more demand than previously expected over the next two weeks.Front-month gas futures for January delivery on the New York Mercantile Exchange rose 15.3 cents, or 4%, at $4.105 per million British thermal units by 08:59 AM ET. Priced ended 0.5% lower on Monday. "The demand for LNG is very strong and they're keeping those numbers near record high.
Why US producers are paying attention to Canada's most popular shale play
Executives, analysts, and advisors say that U.S. producers of oil and gas are seeking new drilling territories in Western Canada's Montney Basin, an enormous shale play in a remote area. The basin is already a hub of M&A and may see even more deals in the near future. The United States has become the largest oil producer in the world as a result of extensive drilling on shale deposits over the past 15 years.
The new BP CEO has a long-lasting legacy at Australia's Woodside
Energy industry veteran Meg O'Neill was tapped by BP as the leader of a shake-up within the venerable London based major. She made an immediate impact when she took over at Australia's Woodside Energy and secured a deal which doubled the production portfolio. Woodside's acquisition of BHP petroleum assets by 2021 in a merger of then-$28 billion boosted the Perth-based firm with an international presence?during an industry consolidation period…
Australia's Waitsia Project begins sending gas to LNG export
Beach Energy, an Australian company, announced on Monday that the Waitsia onshore project located north of Perth has begun sending natural gas to Woodside Energy's liquidified natural gas export facility. Mitsui, a Japanese company, operates the Waitsia Project and shares it with Beach. Mitsui and Beach have signed a contract with the North West Shelf partners Woodside, BP Shell and Japan LNG for the supply of the facility in 2020.
