Australia's Santos signs LNG deal with QatarEnergy unit
Santos, an Australian oil and natural gas producer, announced on Friday that it had signed a long-term contract for the supply of liquefied gas with QatarEnergy Trading. This is a unit owned by QatarEnergy which is the largest LNG exporter in the world. Santos has agreed to supply 0.5million tonnes of LNG annually over a two-year period starting in 2026. In a statement, the company said that it would supply the commodity from its wide portfolio of LNG assets.
Indonesia is looking for new technologies to improve oil drilling
Officials said that Indonesia issued a new regulation on Tuesday to encourage investment by oil drilling technology providers to increase production at existing wells. Yuliot Tajung, the deputy energy minister, told reporters that this policy aims to reactivate idle wells as part of an effort to increase oil production to one million barrels per daily (bpd) by 2029-2030, from less than 600,000.
Qatari Output at Gas Field Shared With Iran Is Steady
Qatar's gas production at the South Pars field is steady and supply is proceeding normally, it said on Tuesday, after the world's largest gas field was hit by an Israeli airstrike on Saturday, prompting Iran to partially suspend its production.Qatar, the world's third-biggest liquefied natural gas exporter after the U.S. and Australia, shares the South Pars gas field with Iran."So far, gas supplies are proceeding normally.
Conflict affects Iranian and Israeli energy sites
The military strikes between Iran & Israel have raised concerns about possible damage to oil and gas infrastructure and fields in the region. Here are some details on these sites, and how they have affected them so far. Israel attacked an installation in the South Pars offshore field where Iran had partially suspended production on June 14. South Pars is a part of the world's largest gas reserves, which Iran shares jointly with Qatar.
Qatar confirms that its gas production at the field shared with Iran has remained steady following Israeli strikes
Qatar announced on Tuesday that its gas production is stable and the supply is proceeding as normal, following Israel's Saturday strike on the world's biggest gas field, which caused Iran to temporarily suspend its production. Qatar, which is the third largest liquefied gas exporter in the world after the U.S.A. and Australia shares the South Pars field with Iran. Iran has partially halted production on the field following an Israeli attack that caused a Saturday fire.
Overview of Iran's major gas fields and oil infrastructure
Israel attacked an installation in Iran's South Pars Gas Field on Saturday. This was the first attack against Iran's oil-and-gas sector, as part of a long-term operation that the Israeli government warned would take place to stop Tehran from developing an atomic bomb. Iran has temporarily suspended gas production at the South Pars Field, Iran's share of the world's biggest natural gas reserve. The field is located beneath the Gulf, and it's shared with Qatar, a major gas exporter.
Overview of Iran's major gas fields and oil infrastructure
Israel attacked an installation in Iran's South Pars Gas Field on Saturday. This was the first attack against Iran's oil-and-gas sector, as part of a long-term operation that the Israeli government warned would take place to stop Tehran from developing an atomic bomb. Iran has temporarily suspended gas production at the South Pars Field, Iran's share of the world's biggest natural gas reserve. The field is located beneath the Gulf, and it's shared with Qatar, a major gas exporter.
Trump tariffs stymie M&As and IPOs during what was expected to be a record-breaking quarter
The global trade war started by U.S. president Donald Trump, and the subsequent market turmoil, has shattered bankers' expectations for a strong start to Wall Street deals in 2018. Dealogic data for the first quarter showed that mergers and purchases volume increased 12.6% from the year-ago period to $984.38 Billion. The Asia Pacific region was largely responsible for this, where three state-run…
M&A revenues fall as Trump pursues his tariffs. Global deal activity is disappointing
The global trade war started by U.S. president Donald Trump, and the subsequent market turmoil, has shattered bankers' expectations for a strong start to Wall Street deals in 2018. Dealogic data for the first quarter showed that mergers and purchases volume increased 12.6% from the year-ago period to $984.38 Billion. The Asia Pacific region was largely responsible for this, where three state-run…
Hungary turns to Romania for help in diversifying its energy sources
Hungary wants to expand its gas sector cooperation with Romania to diversify energy sources. Their respective companies are already in negotiations for an agreement. Szijjarto stated that Hungary is keen to work with Romania in energy matters as Romania will soon become a net gas exporter as a result of a new offshore field starting production. In a few weeks, Romania could begin drilling at the Neptun Deep field, which is one of the most important gas deposits in the European Union.
Vitol and Glencore receive $380 Million award in Nigerian LNG litigation
Court documents obtained by revealed that trading houses Vitol, Glencore, and their gas suppliers, trading firms Taleveras won a legal fight in London against Nigeria's only liquefied gas (LNG), producer, for not delivering cargoes. The London High Court and Court of Appeal heard the case, the latest of a series of lawsuits filed by buyers and sellers for non-delivery of goods after prices rose from the lows reached during the COVID epidemic when Russia invaded Ukraine on February 20, 2022.
Venture Global rises after brokerages begin coverage with bullish rating
Venture Global shares reached a weekly peak on February 18th, after several brokerages began coverage of the company with bullish ratings despite its dull market debut in January. Venture Global shares rose 5.8% to $16.87. On January 24, the liquefied gas (LNG), provider started trading at New York Stock Exchange for $24.05 per stock, valuing the company as the largest gas exporter. Its market capitalization is $58.2 Billion.
Baker Hughes signs supply agreement with Venture Global
Baker Hughes, a provider of oilfield services in the United States, announced on Thursday that it had signed an agreement with Venture Global for technology and equipment to support its projects involving liquefied gas (LNG). Venture Global has signed a framework agreement for services to support phases 1 and 2 in Louisiana's Plaquemines LNG Project. The demand for LNG has increased as Big Tech invests billions in AI technology.
In the pro-Russian region of Moldova, thousands are left without gas or heat
Authorities said that more than 51,000 households in the pro-Russian separatist region of Moldova were without gas, and 1,500 apartment blocks had no heat for winter. This was after Ukraine refused to renew a transit agreement last week with Russia. Transdniestria (a separatist region dominated by Russian speakers along the Ukrainian border) had been receiving Russian gas through Ukraine for decades.
Egypt reiterates its 42% renewable energy target for 2030 but calls on international assistance
The Egyptian government still aims to have renewable energy make up 42% of the mix for electricity generation by 2030. However, this goal is at risk if international support does not increase, said Prime Minister Mostafa Mdbouly on Tuesday, speaking at the COP29 Conference. According to a cabinet report from July, the current share of solar, wind and hydropower in Egypt's power generation is only 11.5%.
Venture Global receives permission from federal regulators to add natural gas to LNG plant
Documents show that federal regulators granted Venture Global LNG approval on Wednesday to introduce natural gases into its Plaquemines Export Plant in Louisiana. This allows the plant to move closer to producing supercooled gas. When fully operational, the 20 million metric ton per annum (MTPA), Plaquemines LNG facility will be the second largest U.S. Export Facility. The plant and others due…
Prices of EUROPE GAS rise after Norway Outage
Dutch and British wholesale gas prices rose on Tuesday afternoon, as a planned outage in Norway offset initial losses, despite a reduced demand and well-supplied storage sites. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub increased by 0.51 euro to 40.50 Euros per Megawatt Hour (MWh) at 1259 GMT. It had traded earlier as low as 39.80 Euros/MWh. The Dutch day-ahead contracts was up by 0.50 euros to 40.38 Euro/MWh.
Venture Global won't begin LNG deliveries to Italy Edison until 2025
Italian energy group Edison reported on Monday that U.S. Gas Exporter Venture Global LNG had told it to not expect contract cargoes until April 2025 from its Louisiana export facilities. Edison, along with Shell, BP, and Repsol, has filed contract arbitration against Venture Global over its failure to deliver contracted cargoes more than two years since it began exporting LNG from Calcasieu Pass LNG Plant.
US regulators support Venture Global LNG's claims of equipment failure
U.S. regulators said Venture Global LNG took adequate steps on Friday to correct equipment issues at a Louisiana-based gas-processing facility that have prevented the company from delivering goods to long-term customers under contract for over two years. The Federal Energy Regulatory Commission's findings support the U.S. liquefied gas exporter’s claim that the Calcasieu Pass plant in Louisiana has not been fully commissioned.
Venture Global doesn't need any more time from BP to begin production, BP says to regulators
BP Plc, the oil and gas producer, told federal regulators that it had reviewed confidential documents and did not believe Venture Global LNG needed more time to start commercial production. Calcasieu Pass, a plant owned by Venture Global LNG, has been the subject of a longstanding dispute involving BP and Shell regarding access to liquefied gas produced at the plant. Venture Global will become the second-largest U.S.
