Chevron estimates repairs at Wheatstone gas plant will take weeks
The company stated on Sunday that it is likely to take several weeks for the Wheatstone Liquefied Natural Gas facility in Western Australia to fully resume production as they repair damage caused by the cyclone last week. The Australian LNG supply was disrupted by Cyclone Narelle, a disruption of more than 30,000,000 metric tons per annum. Saul Kavonic, MST Marquee analyst, said on Friday that the Middle East conflict and the cyclone Narelle have combined to disrupt more than a quarter of global LNG supply.
Australia LNG continues to disrupt after Narelle, thousands of people without power
On 'Sunday', Australia's liquefied gas production was still disrupted. Thousands of people in the remote north were without power for more than a month after the Narelle Storm System?hit Australia. The impact of?Narelle, which was downgraded to a?tropical storm on Saturday, has been exacerbated by a global LNG supply crisis caused by the Iran War, which is now a month old. Qatar's production was halted after Iranian attacks damaged its facilities, and Australia became the second largest LNG exporter in the world. Woodside Australia said on Sunday that there was no new information.
Narelle continues to disrupt Australia LNG despite its weakening from tropical cyclone
Ex-Tropical cyclone Narelle, which has been affecting Australia's Queensland state and Northern Territory since March 20, further affected production at two of Australia’s largest liquefied natural gas plants. The storm system was waning in the country's northwestern region. Narelle, which has been sweeping across Australia's Queensland and Northern Territory state since it made landfall on March 20 as a Category 4 tropical cyclone, hit Western Australia on Friday, affecting LNG plant run by Woodside and Chevron. The impact of the storm on LNG plants has increased a global shortage caused by the Iran War.
Venture Global CEO: We are working with critical LNG cargoes to ship globally
Venture Global, a liquefied natural 'gas exporter, is working with countries all over the world to 'help cover shortages of supply in the short term, said CEO Mike Sabel on Tuesday at.the CERAWeek conference in Houston. The world was reeling from the attacks on energy infrastructure during the U.S. - Israeli war against Iran. The price of oil and gas has risen following the closure of the Strait of Hormuz, and the attacks on energy infrastructure in the Middle East. QatarEnergy reported that a strike on its LNG plant knocked out up to 17% of the capacity, which could last for five years.
Australia's Santos temporarily closes Darwin LNG Plant amid Mideast Supply Squeeze
Santos, an Australian company, announced on Tuesday that it had temporarily closed its Darwin liquefied?gas plant. This would disrupt exports of a newly restarted?supply chain during a period when the markets were tightening because of disruptions in the Middle East. This outage occurs as LNG exports from Qatar to Europe and Asia have already been under pressure due to disruptions in shipments. Australia is a major LNG supplier to Asian buyers. Santos is the second largest oil and gas producer in the country. Santos, the country's No.
NextEra CEO: NextEra has secured land in Texas to build a giant gas plant that will power data centers
NextEra Energy secured land in?Texas to build a gas-fired power plant that will be used to power a massive data?center. The project is backed by a U.S.Japan agreement. Last week, the power provider revealed that President Donald Trump's administration had approved the construction of two gas plants totaling 10 gigawatts in Texas and Pennsylvania. This will help to meet the exploding electricity demands of data centers. The $33 billion project would be developed by NextEra and operated by them, but jointly owned by the United States of America and Japan. This is part of an?overall trade agreement between the two nations.
US Energy Chief: US considers selling oil from strategic reserves
Energy Secretary Chris Wright stated on Monday that the U.S. may consider coordinating oil sales from its Strategic Petroleum Reserve with those of other countries as prices have soared during the war against Iran. Wright said that the U.S. also has "some options" to allow more sales of Russian crude oil in tankers in Asia. Washington, for example, issued a waiver late last week allowing the sale of Russian crude oil currently stranded on sea to continue into India. Wright, speaking to reporters at a Colorado natural gas plant, said: "We're talking about coordinated releases from SPR." The U.S.
US provides historic $26.5 billion loan to Southern Co subsidiaries
The?U.S. The Energy Department announced on Wednesday that it has provided a loan of $26.54 billion to'subsidiaries' of Southern Co in order to improve grid reliability. This is the largest loan ever offered by its loan office. According to the Energy Department, this financing will allow power customers in Georgia & Alabama to save more than $7 billion. Southern announced last year that it would freeze power bill increases for three years. Negotiations over loans made the company's decision possible, according to the?department. The Trump administration changed the name of the loan office to Energy Dominance Financing.
Norway Socialist Party Withdraws Support for LNG Electricity Project Opposition
Norway's Socialist Party has withdrawn its support for a proposal to block Equinor's Hammerfest liquefied natural gas plant from receiving a planned onshore power connection, clearing the way for the grid development to proceed.Parliament is due on Thursday to vote on an opposition proposal seeking to revoke the LNG plant's planned link to the power grid, but the motion is likely to fail without backing from the Socialist Party.The government approved the connection in 2023 to cut greenhouse gas emissions at the plant on Melkoeya island off Hammerfest and extend its lifetime.Critics say hooking up the currently gas-driven plant
Australia and Timor call for progress on Greater Sunrise Gas Field
On Wednesday, East Timor's Xanana Gushmao and Australia's Anthony Albanese said that the Greater Sunrise -gas project should begin "as quickly as possible" with Australia pledging a third of state revenues to its neighbour. Albanese signed a partnership agreement on Wednesday with Gusmao, during his first visit to Australia's northern neighbor. The agreement covers deeper defence ties, border security, and economic development. The visit coincides with the tiny Catholic nation's?push to build a Liquefied Natural Gas plant on its southern coast, instead of?piping gas to an Australian plant in Darwin.
Australia PM Albanese discusses security and gas with East Timor during his visit to the country
In his first official visit to East Timor, Prime Minister Anthony Albanese is expected to highlight Australia's desire for stronger security and energy relations when he speaks in the?parliament of East Timor on Wednesday. The visit comes at a time when the tiny Catholic nation - also courted by China - continues to push for a liquefied gas plant to be built on its south shore, rather than in the Australian city Darwin. Albanese is scheduled to address the East Timor Parliament and meet with its President Jose Ramos Horta and Prime Minster Xanana Gulmao.
Tanzanian minister: Tanzania will sign $42 billion mega LNG Project before June
A senior government minister said on Monday that Tanzania is expecting to sign a deal before June for its $42 billion project to build a liquefied gas plant. Production will begin in eight years. Equinor & Shell are the joint operators for this mega-gas project. It aims to unlock 47.13 trillion cubic foot of natural gas reserves. Exxon Mobil, Pavilion Energy, Medco Energi, and Tanzania's National Oil Company TPDC, are also partners. Proposed government changes to an agreement reached in financial 2023 slowed down the development.
Darwin LNG begins shipments on the Kool Blizzard with its first cargo
Ship-tracking data revealed that the Darwin liquefied gas plant (DLNG), operated by Australian oil producer?Santos since restarting operations, had exported its first shipment. The shipment is currently heading to Sakai in Japan. Darwin LNG stopped shipments at the end of 2023, as its previous gas supply, the Bayu Undan Field in the Timor Sea was running out. The Barossa project, owned by Santos and SK E&S and JERA, is now supplying the plant with natural gas. The Kool Blizzard, a tanker that left the Darwin LNG facility in Australia's Northern Territory (Australia) on January 25th, picked up the first cargo after the restart.
UAE's ADNOC weighs Venezuela gas investment, Bloomberg News reports
Bloomberg News, citing sources familiar with the situation, reported that the?state oil company of Abu Dhabi, ADNOC, is considering entering Venezuela's energy industry. It could also seek a partnership to participate in Venezuela's gas projects with?another? international producer. Could not verify the report immediately. XRG, ADNOC’s international investment arm, set up?inlate 2024, declined comment. Bloomberg stated that ADNOC was interested in investing, but it would be dependent on the legal and financial structure of any investment. Any approach to Venezuela would need coordination with the U.S. Donald Trump, the U.S.
The Dutch benchmark is expected to finish the year 40% lower than last year's price.
The Dutch and British gas wholesale prices were not much changed on Wednesday morning as wind power output curbed gas plant demand. However, the benchmark Dutch contract for the front month of 2025 is expected to be around 40% lower than it was at the beginning of the year. LSEG data shows that the benchmark Dutch front-month contract was up 0.32 euros at 28.12 Euros per megawatt hour or $9.66 /mmBtu at 0904 GMT. LSEG data shows that this is a 42% drop from the last transaction on December 31, 2020 of 48.40 eur/MWh. The Dutch benchmark fell despite Europe's?efforts to phase-out remaining Russian gas imports.
Woodside's new CEO must navigate LNG projects with high costs through glut risk
Woodside Energy is facing a leadership shake up after Meg O'Neill's unexpected departure for the top position at?BP. This comes at a time when the Australian company is trying to deliver on key projects in a?braced?for a glut of supply. Analysts say that the oil and gas company will continue to pursue its global growth strategy. This requires continued investment in new assets as well as continuity in mature fields. After project delays and rising costs, it will be important to advance the Louisiana LNG project. The Louisiana LNG project, valued at $17.5 billion, will be Woodside's key project.
Woodside's new CEO must navigate LNG projects with high costs through glut risk
Woodside Energy is facing a leadership shake up after BP's?chief executive Meg O'Neill's unexpected departure for the top position at BP. This comes as the Australian 'firm' is trying to deliver key projects on a market that's braced for an oversupply. Analysts say that the oil and gas "producer" is expected to continue with its global strategy of growth, which requires sustained investment in both new assets and continuity within mature fields. After project delays and rising costs, it will be important to advance the Louisiana LNG project. The Louisiana LNG project, valued at $17.5 billion, will be Woodside's key project.
EUROPE GAS-European gas prices rise due to a colder and less windy climate, LNG shortage
Gas prices in the Netherlands and Britain rose on Wednesday, supported by an improved weather forecast and an interruption at the Freeport Liquefied Natural Gas?plant. Storages are still 'below previous years' levels. LSEG data shows that the benchmark Dutch front-month contract was 27.50 euros per Megawatt Hour (MWh) or $9.44/mmBtu at 0941 GMT. This is an increase of 0.60 Euro. The February contract increased by 0.45 euros to 27.19 Euro/MWh. The British day-ahead gas prices increased by 1.40 pence to 70.50 pence a therm.
Venture Global responds to Shell's fraudulent claims in LNG arbitration
Venture Global responded late Tuesday night to Shell's legal challenge over its loss in an arbitration case involving liquefied gas cargoes. The company rejected allegations of fraud, and accused Shell of breaching arbitration confidentiality. The legal documents filed in New York Supreme Court are the latest in a long-running saga about Venture Global's inability to deliver LNG in accordance with long-term contracts, while selling LNG on the spot market when prices rose after Russia's invasion in Ukraine. Shell, BP, Edison and other companies filed arbitration claims in 2023 against Venture Global.
Sources say Saudi Aramco will export the first condensate in February from Jafurah Gas Plant
Two sources familiar with the matter confirmed on Tuesday that Saudi Aramco, the state energy company, plans to export the first condensate from the Jafurah Gas Plant in 'February. Aramco is aiming to be a global leader in natural gas by increasing its production capacity. The $100 billion Jafurah Project, which contains 229 trillion standard cubic feet of raw gas, and 75 billion barrels condensate according to estimates, is at the heart of this ambition. Saudi Finance Ministry said that the first phase of production began in early this month.