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. In May, prices remained just above this floor, fetching around $4.20 per million British thermal units (MMBtu).But this floor seems to be crumbling…
U.S. LPG Gas Exports Up in Q1
North American liquefied petroleum gas (LPG) export capacity is forecast to grow considerably over the next two years, said Dorian LPG.According to the LPG shipping company, bolstered by additional volumes out of Marcus Hook in the northeast U.S. due to the startup of the Mariner East 2 pipeline, U.S. exports reached their highest levels for the first calendar quarter of 2019 in January with over 3 million metric tons of LPG exported during the month.However, significant reductions in U.S.
Kinder Morgan's $1.75 bln Gas Pipeline Hit with Steel Tariff
U.S. pipeline operator Kinder Morgan Inc will pay a tariff on imported steel used in a $1.75 billion natural gas pipeline project, the U.S. Department of Commerce ruled on Monday, dealing a setback to energy industry efforts to avoid the penalties.The tariff could add up to $80 million to the construction cost of Kinder Morgan's Gulf Coast Express Pipeline, analysts estimated, because about half the project employs some Turkish pipe subject to a 50 percent tariff.
US LNG Opens Floodgates to Europe
The United States has nearly tripled its natural-gas exports to the European Union (EU) since July and signed new licenses seeking to establish American energy as an EU mainstay. US exports of LNG surged following a meeting between Donald Trump and Jean-Claude Juncker in July 2018.In their Joint Statement of 25 July 2018 in Washington D.C., President Juncker and President Trump agreed to strengthen EU-U.S. strategic cooperation with respect to energy. They came in particular to an understanding on the benefits of expanded exports of U.S.
U.S. FERC Approves Two New LNG Export Terminals
The U.S. Federal Energy Regulatory Commission (FERC) on Thursday approved construction of two proposed liquefied natural gas (LNG) export terminals, Tellurian Inc's Driftwood in Louisiana and Sempra Energy's Port Arthur in Texas.Tellurian said in a release it planned to make a final investment decision on its $30 billion Driftwood project, which includes pipelines and production fields in addition to the liquefaction plant, in 2019 with first LNG production…
$13 Bln Papua LNG Project Pushes Ahead
France's Total and its partners signed a long-awaited deal with Papua New Guinea on Tuesday that will allow initial work to start on a $13 billion plan to double the country's liquefied natural gas exports.Developing the Pacific island nation's gas reserves is seen as crucial to its economy as LNG is its biggest export earner, while demand for the fuel is surging globally.Total's partner Oil Search said the agreement would allow the parties to start…
U.S. Natural Gas Production Sets New Record
According to the U.S. Energy Information Agency (EIA), US natural gas production registered an increase by 10.0 billion cubic feet per day in 2018, noting an 11% rise in comparison to 2017.The development reported was the largest annual increase in production on record, establishing a record high for a second year in a row, it said in a press release.U.S. natural gas production measured as gross withdrawals averaged 101.3 Bcf/d in 2018, the highest volume on record, according to EIA’s Monthly Crude Oil, Lease Condensate, and Natural Gas Production Report.U.S.
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, an independent energy research and business intelligence companyMature fields exhibit relatively high decline rates, but volumes from the recent start-ups and discoveries in Yamal, East Siberia and the Far East are expected to offset the decline.
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 produced about 600 billion cubic feet (Bcf) of dry natural gas in 2017 and exported about 210 Bcf, according to EIA’s International Energy Statistics.“Azerbaijan is planning to expand its natural gas exports to Europe.
Equatorial Guinea to Offer Ophir's Old Blocks
Equatorial Guinea will offer offshore Block R with the related Fortuna gas development project in the April licensing round, after the concession was reclaimed from Ophir Energy Plc, the oil minister said on Tuesday.Gabriel Obiang Lima told Reuters in Cape Town that Block R would be one of up to 13 deepwater and ultra deepwater blocks offered in the licensing round on April 1.Ophir was denied an extension in December to its licence for Block R and its plan for a floating liquiefied natural gas (LNG) project.
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 to export record-high natural gas volumes of 200 bcm to Europe this year.The company said that with the launch of the final unit, Bovanenkovo will reach a projected capa
LNG Booster for Canada
Canada could increase revenues from exports to Asia by $6.366 billion with the two new major liquified natural gas (LNG) projects in British Columbiaprojects, said a new research report.A new paper by Macdonald-Laurier Institute Munk Senior Fellow Philip Cross, titled BC’s LNG Projects: A Turning Point for Canada’s Energy Industry, makes the case that these two projects will hold considerable benefits.The most important impact could be that greenlighting…
U.S. Approves LNG Exports from Corpus Christi, Texas Plant
The U.S. Department of Energy said on Friday it has approved exports of liquefied natural gas exports to non-free trade agreement countries from the Corpus Christi Liquefaction Project in Texas for two years.The approval for 2.1 billion cubic feet per day of natural gas was issued to Cheniere Marketing, LLC and Corpus Christi Liquefaction, LLC, who own the plant. The DOE authorized exports from the plant to free trade agreement countries in September.(Reuters, Reporting by Timothy Gardner Editing by Chizu Nomiyama)
Peru Suspends Natural Gas Exports, Imposes Fuel Rationing
Peru has suspended exports of natural gas and will impose fuel rationing due to technical issues at Argentine energy company Pluspetrol's operations in the country, it said on Thursday.Peru, one of South America's largest producers of natural gas, declared an emergency to direct all natural gas supplies for domestic consumption, citing a drop in production at Pluspetrol's Las Malvinas plant in the Camisea gas fields in southern Peru.The Camisea consortium…
Gazprom CEO Says Output Up This Year
Gazprom's output in the last nine and a half months is up by 6.8 percent year on year and the Russian gas producer expects production close to 500 billion cubic metres (bcm) this year, RIA news agency cited its chief executive as saying.The TASS news agency, also citing Gazprom CEO Alexei Miller, said the company had increased gas deliveries to non-CIS countries by 8 bcm in the past nine and a half months.Gazprom said in a follow-up statement that its…
Israeli, Egyptian Partners Buy into Pipeline to Allow Gas Deal
Israeli and Egyptian partners have agreed to purchase 39 percent of the shares in the EMG pipeline for $518 million, a deal that will enable natural gas exports from Israel to Egypt to begin as early as the start of 2019, the companies said on Thursday.Under the deal, Israel's Delek Drilling and Texas-based Noble Energy who together have been developing Israeli gas fields, will each pay $185 million, while the Egyptian East Gas Co will pay $148 million for the stake in EMG, whose pipeline runs between the two countries.The deal also includes EMG agreeing to e
Norway's Gas Exports Set to Match Annual Record
Norway's gas exports hit a new high of 36.8 billion cubic meters (bcm) this summer and the annual deliveries will be on a par with the record annual figure achieved in 2017, gas system operator Gassco said on Friday.Between May and August, which is normally a season with fewer gas exports, Norway's deliveries almost matched a normal winter level as European importers needed to refill depleted gas storages which drained during last year's cold winter."It's too early to say exactly where we'll end up this year…
Germany to Build LNG Terminal in 'Gesture to U.S.'
Germany will chose a city to host a new liquefied natural gas (LNG) terminal by year end's in what its economy minister on Tuesday called "gesture" to the United States, which wants to increase gas exports to Europe."This is a gesture to our American friends," Peter Altmaier said after a meeting with the EU's energy chief in Brussels.
Environmentalists File Second Complaint to Block Nord Stream 2
Environmental campaign group ClientEarth has filed a complaint with a court in Sweden to block the construction through Swedish waters of the Nord Stream 2 gas pipeline intended to transport Russian gas to Germany, it said on Wednesday.Sweden approved the pipeline in June, but ClientEarth's complaint argues that the Swedish Ministry of Enterprise and Innovation failed to consider the impact the project would have on wildlife in the Baltic Sea.The work…
Yamal LNG Exports Accelerate in Time for Winter
Liquefied natural gas exports from Novatek's Yamal terminal in the Arctic have come on stream faster than expected over the summer and exceeded volumes from Russia's only other LNG facility, Sakhalin, for the first time in August.The pace of commissioning the multi-billion dollar project has surprised a market used to chronic delays. Additional volumes from the start of another facility should now come in time for the northern hemisphere winter, a time of price spikes.Novatek said earlier this week it had begun commissioning the third train…