Ghana warns about power cuts as Eni, the Italian gas company, works to increase gas supply
The West African nation said that the Italian energy group Eni would temporarily suspend operations on Sunday at a Ghana gas plant to implement an increase in supply, which could result in power outages. Ghana, which is the second largest cocoa producer in the world, has tried to boost oil and gas production, both to increase revenue and to prevent fossil fuels becoming stranded. The energy ministry announced on X that it had reached an agreement with Eni for a 30 million standard cubic foot per day increase in natural gas supplies to 270 millions.
TotalEnergies UK Assets to Be Bought by Prax Remain Unsold
The TotalEnergies West of Shetland offshore assets it agreed to sell to Prax Group last year remain under the French oil major's ownership, it said on Wednesday, so will not be subject to disposals resulting from liquidation proceedings affecting the British company."The transaction to sell our West of Shetland asset to Prax has not yet completed and as such we remain the operator of the Shetland Gas Plant and related fields," TotalEnergies EP UK said in its statement.TotalEnergies had agreed to sell Prax a portfolio of mature offshore fields producing about 7…
ADNOC, the UAE's oil company, boosts US investment and says AI is a once in a lifetime opportunity to invest.
ADNOC Chief Sultan al-Jaber stated on Tuesday that the state oil company in the United Arab Emirates aims to increase its U.S. investments by six-fold, to $440 billion over the next ten years. Jaber, speaking at an event in Washington, told the audience that AI was a rare investment opportunity. Jaber cited the UAE's recent anchor investments in the largest liquefied gas plant in Texas and in petrochemicals across the U.S., as well as a planned addition 5.5 gigawatts in renewable energy and storage from coast to coast.
Australia approves Woodside's North West Shelf LNG Plant to operate until 2070
Australia approved Woodside Energy’s request on Wednesday to extend the lifespan of its North West Shelf Gas Plant until 2070. This follows a six-year process that was plagued by delays, complaints and criticism from environmental groups. North West Shelf, located in Western Australia on the Burrup Peninsula, is Australia's largest and oldest liquefied gas plant. It also serves as a major supplier of LNG to Asian markets. In a press release, Environment Minister Murray Watt stated that the decision to approve an extension of the project was subject to strict conditions.
US regulators approve construction of Venture Global CP2 liquefied natural gas plant in Louisiana
A document published by the FERC on Friday showed that US regulators had given Venture Global permission for construction to begin at its CP2 Liquefied Natural Gas plant in Louisiana. If built, CP2 would be the largest LNG export facility to the U.S. It will also help the U.S. remain the largest exporter in the world of supercooled gas. Venture Global could become the largest U.S. company for LNG. A final environmental report concluded that the plant, which produces 28 million metric tonnes per year, is in the public's interest. Venture Global was approved to build the plant.
Upgrades to the EU's power grid are needed at a cost of trillions of dollars in order to avoid blackouts similar to those that occurred in Spain
To cope with the increasing demand for electricity, and the growing green energy production in Europe, and to prevent blackouts, trillions of dollars will be needed to invest. Spain and Portugal experienced their worst power outages in a week. Analysts and industry representatives believe that infrastructure investment will be essential, regardless of the results. Authorities are currently investigating the cause. The blackout served as a warning. The blackout showed the urgent need to upgrade and strengthen Europe's electrical grid. Half of the power lines in the European Union are older than 40 years.
Upgrades to the EU's power grid are needed at a cost of trillions of dollars in order to avoid blackouts similar to those that occurred in Spain
To cope with the increasing demand for electricity, and the growing green energy production in Europe, and to prevent blackouts, trillions of dollars will be needed to invest. Spain and Portugal experienced their worst power outages in a week. Analysts and industry representatives believe that infrastructure investment will be essential, regardless of the results. Authorities are currently investigating the cause. The blackout served as a warning. The blackout showed the urgent need to upgrade and strengthen Europe's electrical grid. Half of the power lines in the European Union are older than 40 years.
The policies of Australia's major political parties in a single glance
Australians will cast their votes on Saturday, in a tight-run national vote marked by concerns about the cost of housing and living as well as the trade tensions caused by U.S. president Donald Trump's tariffs. Compare the key policies of the Liberal-National Coalition led by Peter Dutton and Anthony Albanese’s Labor Party, a centre-left party. The government has promised to spend A$10 Billion ($6.40 Billion) on building up to 100,000 homes. First-time homebuyers would be able to use up to $50,000 of their mandatory retirement savings to make down payments. Tax deductions for mortgage interest payments will be available.
Venture Global raises $3 Billion for CP2 Louisiana LNG Plant
Venture Global announced on Thursday that it had raised $3 billion to finance the construction of the CP2 LNG Plant in Louisiana. This would be the biggest liquefied gas plant in America. Venture Global, the U.S. second largest LNG exporter, has played an important role in making this country the largest exporter worldwide of super-cooled gas. Venture Global stated that the money raised would be used to pay for construction of the CP2 LNG facility. This facility will have a capacity of 28 million tonnes per year.
LNG Canada begins cooling down of the plant as a final step to producing LNG
Two people have confirmed that LNG Canada is cooling down its Kitimat liquefied gas plant, British Columbia. This is a last step before the company begins producing super-cooled gas. LNG Canada will be the first LNG export facility in Canada. It is expected to export 14 million metric tons per year (MTPA). People said that the company began using refrigerants on Tuesday as part of its cooling process. Tomorrow, it is expected to add natural gas to the plant. The cooling of an LNG plant prior to its production…
Sources say India is considering scrapping the import tax on US LNG to boost purchases.
Four government and industry sources have said that India is considering scrapping the import tax on U.S. LNG to increase purchases and reduce the trade surplus, which is a major irritation for President Donald Trump. Both sides want to increase volumes in order to meet the energy needs of India's fast-growing economy. Qatar is India's top LNG supplier. India and the United States agreed that they would increase their energy purchases in the U.S. by $10 to $25 billion over the next few years. Both leaders also agreed to reach $500 billion of bilateral trade by 2030.
Texas LNG plans to announce its final investment decision in December
Brian Duval, CEO of Glenfarne Energy Transition, said that the company expects to reach a final decision about its Texas LNG project in December. Glenfarne Energy has developed a 4 million metric tons per year (MTPA) liquefied gas plant (LNG) in Brownsville, South Texas. He said that the company had already signed an Engineering, Procurement and Construction (EPC), contract with Kiewit for the construction of the plant. He added that the company has enough long-term customers to proceed with the construction of the plant when it receives all legal approvals. A U.S.
Data shows that Russia's LNG exports between January and February fell 7.3%.
LSEG released preliminary data on Friday showing that Russia's LNG exports in the first half of this year were down 7.3% compared to a year ago, at 5.1 million metric tonnes. This was due to sanctions and the Sakhalin-2 supply cut. Due to U.S. sanctions over the conflict in Ukraine, Russia has been unable to increase LNG exports. The new Arctic LNG 2 facility has effectively been frozen due to the Western sanctions. According to LSEG, Russia's exports of LNG fell by 8% in February, from 2,57 million to 2,36 million tonnages a year earlier.
Sources say that RPT-Australian Woodside is in talks with three partners about Louisiana LNG.
Multiple sources have confirmed that Woodside Energy is in talks with several potential investors to buy stakes in the Louisiana liquefied gas plant. These include Tokyo Gas, Japan’s JERA, and Saudi Aramco-backed MidOcean Energy. This sale of stakes is a test of market expectations for LNG following Donald Trump's return to the U.S. Presidency. Trump said that trade partners should purchase more U.S. Energy and has issued several executive order in his first week in office to boost domestic oil and natural gas production. Louisiana LNG offers global buyers the opportunity to diversify their supplies and possibly ward off U.S.
Sources: Woodside Australia is in talks with three partners about Louisiana LNG.
Multiple sources have confirmed that Woodside Energy is in talks with several potential investors to buy stakes in the Louisiana liquefied gas plant. These include Tokyo Gas, Japan’s JERA, and Saudi Aramco’s MidOcean Energy. This sale of stakes is a test of market expectations for LNG following Donald Trump's return to the U.S. Presidency. Trump said that trade partners should purchase more U.S. Energy and has issued several executive order in his first week in office to boost domestic oil and natural gas production. Louisiana LNG offers global buyers the opportunity to diversify their supplies and possibly fend of U.S.
Golden Pass LNG, a former contractor, will emerge from bankruptcy at the end of March
The Texas contractor who last year walked away from the Golden Pass project of a liquefied gas plant, a joint venture with Exxon Mobil and QatarEnergy, may be able to exit Chapter 11 bankruptcy by April, according to the company. Zachry Holdings announced that the U.S. Bankruptcy Court of the Southern District of Texas approved its reorganization plans on Friday, clearing the way for them to complete the process by the end of the month. The court scheduled a confirmation hearing for the 26th of February.
Golden Pass LNG, a former contractor, will emerge from bankruptcy in April
The Texas contractor who last year walked away from the Golden Pass project of a liquefied gas plant, a joint venture with Exxon Mobil and QatarEnergy, may be able to exit Chapter 11 bankruptcy by April, according to the company. Zachry Holdings announced that the U.S. Bankruptcy Court of the Southern District of Texas approved its reorganization plans on Friday, clearing the way for them to complete the process by the end of the month. The court scheduled a confirmation hearing for the 26th of February.
EUROPE GAS prices in tight range due to strong LNG flow and warmer weather forecast
The Dutch and British wholesale prices of gas traded in a narrow band on Thursday morning. Market participants expect further declines due to forecasts of warmer weather and high flows of LNG. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub was down 0.50 euro at 44.90 Euro per megawatt hour, or $13.80 /mmBtu by 0919 GMT. The Dutch March contract is down by 0.54 Euros at 45.46 euro/MWh. The month-ahead contract in Britain rose by 0.15 pence, to 113.5 p/therm. The prices have fallen over the past week, after reaching a 14-month peak above 50 euros/MWh in early January.
Equinor's Hammerfest liquefied natural gas plant closed for a week due to compressor failure
Equinor announced on Thursday that its Hammerfest LNG facility in Arctic Northern Norway suffered an unexpected outage because of a compressor failure. The company said the plant's output was halted for a week. The Hammerfest plant (also known as Melkoeya LNG) has the ability to deliver approximately 6.5 billion cubic meters of gas each year. This is enough to provide about 6.5 millions European homes and accounts for about 5% of Norwegian gas exports. A spokesperson for Equinor said that an Equinor compressor…
Woodside's North West Shelf Project Extension approved by Western Australia
Woodside Energy, Australia's largest oil and gas producer in terms of market value, announced on Thursday that the state of Western Australia had granted Woodside Energy approval to extend the project life of its North West Shelf LNG (liquefied Natural Gas) until 2070. You can also find out more about the decision-making process by clicking here. Woodside announced Thursday that the approval marks the end to a six-year waiting period and restarts the federal approval process for environmental protection, which was halted because of pending appeals.
