Moroccan Energy Ministry Pauses Gas Pipeline Project
Morocco's energy ministry said on Monday it has paused a tender launched last month for a gas pipeline project, without giving details on the reasons for the suspension.The tender sought bids to build a pipeline linking a future gas terminal at the Nador West Med port on the Mediterranean to an existing pipeline that allows Morocco to import LNG through Spanish terminals and supply two power plants.It also covered a section that would connect the existing pipeline to industrial zones on the Atlantic in Mohammedia and Kenitra."Due to new parameters and assumptions related to this project...
India's demand for LNG is set to increase across industries, if prices are cooperative
Executives from India's leading importers have said that the demand for liquefied gas in India is expected to increase over the next few years. This will be driven by the demand for city gas, fertilizers, power, and refining. They added that a lower price would be necessary to encourage further consumption. India is the fourth largest 'buyer' of LNG in the world and wants to increase the gas share to 15% from its current 6.2% by 2030. The market is seen as one of the key drivers for global demand but remains price-sensitive.
Kinder Morgan beats quarterly profit estimates on strong natgas demand
Kinder Morgan, which is a subsidiary of Kinder Morgan Inc., beat Wall Street's expectations on Wednesday for its fourth-quarter profits. This was due to higher volumes transported by its pipelines. In extended trading, shares of the pipeline operator increased 1.4% to $28.99. U.S. Midstream Companies such as Kinder Morgan benefit from the surge in oil production and natural gas demand in the Permian Basin. This is due to record exports of liquefied gas and an increase in power generation linked to artificial intelligence, cryptocurrency mining, and data centers.
EUROPE GAS - European benchmark hits 7-week-high on low storage, cold and geopolitics
The benchmark European gas contract reached a seven-week high due to colder weather forecasts and low storage levels, as well as increased geopolitical risk for LNG shipments. LSEG data revealed that the benchmark 'Dutch front month contract' at TTF hub had risen?0.93 euros to 29.35 euro per megawatt-hour (MWh) or $10.05/mmBtu by 0902 GMT. According to data, it briefly reached 29,69 euros/MWh - its highest level since 25 November. The Dutch day-ahead contracts was up 0.60 euro to 29.60 euros/MWh. The British gas day-ahead price increased by 3.65 pence to 77.00?pence per thermo.
Orlen, Grupa WB Collaborate to Improve Maritime Infrastructure Security
State-controlled Polish refiner Orlen and private defence technology company Grupa WB have agreed to work together to improve the security of critical infrastructure, Orlen said on Tuesday.The Baltic Sea region is on high alert following power cable, telecom link and gas pipeline outages since Russia invaded Ukraine in 2022.Under an agreement the two companies signed, they will cooperate to ensure energy security by protecting maritime infrastructure and to counter criminal acts including terrorism, diversion, and sabotage.They said the agreement also covers the implementation of innovative unmanned systems and advanced monitoring t
Glenfarne signs 20-year LNG contract with POSCO in South Korea
Glenfarne’s Alaska LNG unit announced on Thursday that it had finalized an arrangement to supply 1,000,000 tonnes of liquefied gas per year to South Korean trading company POSCO International from its planned project for export over a period of 20 years.The agreement follows one signed in September.Since the Russian invasion of Ukraine in 2022, global demand for superchilled fuels has risen. This has led buyers in Europe and Asia into long-term supply agreements with U.S. suppliers.Glenfarne, since becoming the majority owner and lead developer of the Alaska LNG Project in March…
Gazprom reports a net profit of $1.72bn for the third quarter, compared to a loss of $1.2bn a year ago
Gazprom, Russia's largest energy company, announced on Friday that it had a net profit of $1.72 billion for the third quarter, compared to a loss of 53 billion dollars a year earlier, when the company was hit with a one-time tax. The government's decision to lower the tax burden for the company was a major factor in the financial results. After the start of the conflict between Ukraine and the EU, the company lost its main source of revenue, the European Gas Pipeline Market. Interfax, a news agency, polled analysts and found that the net profit was below expectations. They expected it to be 200 billion dollars.
Woodside and East Timor target first LNG from Greater Sunrise by 2032
East Timor and Australia's Woodside Energy have agreed to investigate sending gas from large, undeveloped Greater Sunrise field to a new plant that will produce liquefied gas in Southeast Asia. The plant could begin exporting gas in seven years. In a Tuesday joint statement, Woodside and East Timor’s Petroleum and Mineral Resources Ministry said that the agreement requires the two parties to examine the commercial and technological viability of a 5 million-metric-ton LNG project. The plan is to begin production as soon as 2032-2035.
Woodside and East Timor target first LNG from Greater Sunrise by 2032
East Timor and Australia's Woodside Energy have agreed to investigate sending gas from large, undeveloped Greater Sunrise field to a new plant that will produce liquefied gas in Southeast Asia. The plant could begin exporting gas in seven years. In a Tuesday joint statement, Woodside and East Timor’s Petroleum and Mineral Resources Ministry said that the agreement requires the two parties to examine the commercial and technological viability of a 5 million-metric-ton LNG project. The plan is to begin production as soon as 2032-2035. This is the first time that the two sides have given a possible start date.
Energean CEO: New $400 million Israel to Cyprus gas pipeline is awaiting approval from government
The head of Eastern Mediterranean gas producer Energean said on Tuesday that a $400 million pipeline will transport natural gas between Israel and Cyprus. Israel has also expressed its support. Energean signed on Monday a letter-of-intent with Cyfield, the leading Cypriot energy and industrial group, for the possible supply of natural gases from Israel via the new pipeline to Cyfield’s planned power station, according to Mathios Rigas, CEO of British firm. Rigas said in an interview at the ADIPEC conference in Abu Dhabi that gas could be flowing through the pipeline in 12 months after the approvals are granted by the government.
$400m Natural Gas Pipeline Between Israel and Cyprus Awaits Government Approval
A $400 million pipeline to transport natural gas from Israel to Cyprus is awaiting government approval from both countries and Israel has expressed support, the head of Eastern Mediterranean focused gas producer Energean told Reuters on Tuesday.Energean on Monday signed a letter of intent with leading Cypriot industrial and energy group Cyfield for the potential supply of natural gas from Israel to Cyfield's planned power plant via the new pipeline, said Mathios Rigas, CEO of the British firm.Gas could flow through the pipeline within 12 months of the government approvals being granted…
ONEOK reports higher third-quarter profits as acquisitions payoff
ONEOK, the U.S. oil and gas pipeline operator, reported a higher profit in the third quarter on Tuesday. This was due to the robust volumes in Rocky Mountain Region as well as the effect of a number of acquisitions. ONEOK has diversified its portfolio over the last two years through acquisitions, including a Gulf Coast NGL pipe system from Easton Energy as well as Medallion Midstream, EnLink Midstream, and Medallion Midstream. ONEOK acquired the remaining 49.9% of NGP XI Midstream Holdings' stake in the Delaware Basin Joint Venture in June for $940 million.
Energean, a UK-based company, signs a 15-year contract for the transmission of Israeli gas
Energean, a British gas producer, announced on Friday that it had signed 15-year contracts for the planned Nitzana gas pipeline from Israel to Egypt. The agreement was part of a $4 billion contract with Israel. Energean reported that the deal with Israel Natural Gas Lines, a state-owned pipeline operator, covers a transmission of up 1 billion cubic meters of natural gas each year. There are options to extend and terminate early. Energean stated that the Nitzana Pipeline will run from Ramat Hovav, in southern Israel, to the Egyptian border, near Nitzana.
EUROPE GAS - Prices rise after Ukraine attacks on gas infrastructure and colder forecasts
Dutch and British gas rates rose on Monday morning, as colder weather forecasts increased demand for heating. Worries over Russian attacks against Ukrainian gas production may also have contributed to the increase. LSEG data shows that the benchmark Dutch front-month contract was 32.70 euros per Megawatt Hour (MWh) or $11.19/mmBtu at 0935 GMT. This is an increase of 1.32 euros. The Dutch day-ahead contracts was up 1,74 euros to 32,74 euros/MWh. The British day-ahead contracts rose by 10.34 pence, to 81.00 cents per therm.
Targa will build a 500-mile NGL pipe in Permian
Targa Resources announced on Tuesday that it will construct a 500-mile natural gas liquids pipeline from its plants located in the Permian basin to its fractionation, storage and distribution complex in Mont Belvieu in Texas. The Speedway NGL Pipeline will cost approximately $1.6 billion, and have a capacity of 500 thousand barrels a day at first. The pipeline with a diameter of 30 inches is expected to enter service in the third quarter 2027. The pipeline operator is also building a natural-gas processing plant called Yeti in the Permian-Delaware basin of Texas. It has a daily capacity of 275 millions cubic feet.
How Canada's Haisla become the first Indigenous LNG owner in the world
Maureen Nyce wore a hardhat and a safety vest during an August visit to Cedar LNG's pipeline site, not as a dignitary visiting or cultural emissary, but as the owner. Haisla, who have lived on Canada's Northwest Coast for over 9,000 years, own 50.1% of the $4 billion Cedar LNG export project in Kitimat. The remainder is owned by Calgary-based Pembina Pipeline. The world's first majority-Indigenous-owned LNG project, expected to be operational in 2028, could drastically change the future of Nyce's people and serves as a test case for Canada…
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, after banks solicited offers in recent weeks, the people said, asking not to be identified because the discussions are private.The deal would mark JERA's first foray in shale gas production…
Chevron, Israel Natural Gas Lines to Begin Construction of Gas Pipeline to Egypt
Chevron has signed a deal with state-owned pipeline operator Israel Natural Gas Lines to kickstart construction of the Nitzana natural gas pipeline to transport gas from the Leviathan gasfield to Egypt, the U.S. company said on Tuesday.Nitzana would ease an energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas and is part of a concerted effort to boost Israeli gas exports to the Arab world's most populous nation.Last month, the owners of the Leviathan natural gas field off Israel signed a $35 billion export deal to supply gas to Egypt.
Shell Signs 10-year Gas Supply Deal with MVM CEEnergy
Oil and gas major Shell signed a 10-year natural gas deal with Hungary's MVM CEEnergy on Tuesday, in a move designed to strengthen its presence in central and eastern Europe.Shell, the world’s biggest liquefied natural gas (LNG) trader, said it would sell around 200 million cubic metres (mcm) of natural gas a year to the Hungarian natural gas wholesaler MVM CEEnergy, beginning in January 2026.MVM Group receives a large amount of its gas from Russia, unlike energy providers in most European countries following…
Chevron and Israeli pipeline operator will launch new gas pipeline towards Egypt
Chevron announced on Tuesday that it had signed a contract with Israel's pipeline operator, a state-owned company, to begin construction of the Nitzana pipeline. The pipeline will transport gas from Leviathan to Egypt. Nitzana will ease Egypt's energy crisis. Egypt has spent billions on the importation of liquefied gas. This is part of an effort to increase Israeli gas exports into the Arab World's largest nation. The owners of Leviathan, a natural gas field located off Israel, signed a deal worth $35 billion last month to export gas to Egypt. Leviathan is owned by NewMed Chevron Ratio Energies.