Aramco signs preliminary US deal worth more than $30 Billion
Saudi Aramco, the oil giant, said that it signed 17 preliminary agreements with U.S. firms with a total potential value of over $30 billion during a trip to Washington by Saudi Crown Prince. In a press release, the company said that these projects include liquefied gas, financial services and advanced materials manufacturing, as well as procurement of materials and other services. Saudi Arabian and U.S.
Expand Energy, a Natgas producer, posts a quarterly profit as production surges
Expand Energy, the U.S. natural-gas producer, reported a profit on Tuesday for the third quarter, compared to a loss a year ago, due to increased production and higher commodity prices. The average U.S. Natural Gas prices increased by more than 26 percent year-on-year in the third quarter. This was due to strong LNG exports, and a growing demand driven by AI-focused data centres. Expand Energy was created after Chesapeake Energy acquired Southwestern Energy in 2013…
Venture Global's commissioning extension of Plaquemines LNG Plant has been approved by federal regulators
A regulatory filing revealed that federal regulators approved Venture Global's request for additional time to commission its Plaquemines LNG facility in Louisiana before declaring full commercial operations. Venture Global can sell the liquefied gas at higher prices on the spot market by extending the commissioning phase. This is because long-term contracts are only applicable during full operation.
Court rules that Biden's ban on offshore drilling is illegal
Former U.S. A federal judge in Louisiana found that the president had exceeded his authority when he withdrawn large areas of U.S. coasts from offshore oil and natural gas development. U.S. District judge James Cain, in Lake Charles in Louisiana, sided against Republican states and groups from the oil and gas industries who sued to stop Biden's plan to protect federal waters along the East and West Coasts, in the Gulf of Mexico, and in the northern Bering Sea of Alaska.
Saudi Aramco Discusses LNG Purchase to Support Commonwealth LNG's Market Growth
Oil giant Saudi Aramco is in talks with Commonwealth LNG to buy liquefied natural gas from the U.S. company's proposed facility in Cameron, Louisiana, as it seeks to strengthen its position in the market for the superchilled fuel, four people told Reuters on Wednesday.The talks are for 2 million tons per annum (mtpa), two of the people said.Aramco and Commonwealth LNG did not immediately respond to Reuters requests for comment.If a deal is struck…
Sources: Saudi Aramco and Commonwealth LNG in negotiations for an offtake agreement
Four people said that Saudi Aramco, the oil giant, is in discussions with Commonwealth LNG about buying liquefied gas from its proposed Cameron, Louisiana facility. The company wants to improve its market position for super-cooled fuel. Two people confirmed that the talks concern 2 million tonnes per annum. Aramco and Commonwealth LNG didn't immediately respond to comments. If a deal can be reached…
Energy Transfer to Supply Chevron With Additional LNG
Pipeline operator Energy Transfer said on Wednesday it will supply U.S. oil major Chevron with an additional 1 million tonnes per annum (mtpa) of liquefied natural gas from its Lake Charles LNG export facility.The 20-year agreement brings the total volume of LNG supply contracted by Chevron to 3 mtpa, following the initial 2 mtpa agreement signed last year.Commercial activity within the sector has gained momentum in the U.S.…
NextDecade, JERA Sign 20-Year LNG Supply Deal
U.S. liquefied natural gas producer NextDecade said on Thursday it had signed a 20-year deal to supply Japan's biggest power generator JERA with 2 million tonnes per annum of LNG from its Rio Grande project's fifth liquefaction facility.Shares of NextDecade were up 5.5% at $8.11 in early trading.The United States is the world's largest exporter of LNG, shipping 11.9 billion cubic feet per day of the supercooled fuel in 2024…
US LNG Exporters Continue New Projects Despite Trade War Uncertainty
Woodside Energy's decision last month to proceed with its Louisiana LNG export facility was the first of over 90 million tonnes of new LNG shipping capacity U.S. companies plan to approve this year despite uncertainty about President Donald Trump's trade war, according to company statements and analysts.The U.S., already the world's largest exporter of the superchilled gas with 91.3 million tonnes of annual capacity…
CEO CERAWEEK Woodside says that the Louisiana LNG investment decision may be delayed until Q2.
Meg O'Neill, the CEO of Woodside LNG Australia, said on Monday that the company may delay a final decision on the Louisiana plant's liquefied gas project until the second quarter 2025 if talks to sell the half of the project continue. Woodside is looking to sell up to 50% of the project. The company has been reported to be in discussions with several buyers, including Tokyo Gas and Japan's JERA. The goal is to have it ready by the end of the first quarter.
Trump lifts the freeze on LNG export permits
The U.S. President Donald Trump ordered on Monday that the U.S. resume processing applications for export permits for new liquefied gas (LNG). This is part of his effort to increase U.S. energy production and to dismantle climate policies from his predecessor. The Republican executive order was expected and reverses the pause that Joe Biden, former president, had put in place for permits to be issued for new projects in early 2024.
Sources say that Trump will end the need to renew some LNG export permits
According to two sources familiar with the plan, Donald Trump, the U.S. president-elect will eliminate the requirement that some LNG producers renew their export permits. Sources said that Trump would likely include this change in his executive order on LNG, which he will issue during his first day of office. Trump, who will take office on Monday has stated that he will issue an executive order on LNG on his first day in office.
LNG traders divert cargoes to Asia from Europe as demand in the east increases
Analysts and shipping data indicate that three LNG cargoes bound for Europe were diverted to Asia in order to meet the stronger Asian demand, and because gas prices have decreased in Europe. The rapid change of course shows the agility of the trading firms to send LNG supplies either to Europe or Asia. As Asian prices rise, the arbitrage window for sending U.S. and African Liquefied Natural Gas to Asia opens.
Woodside's O'Neill says that the LNG market will grow by 50% over the next decade.
Woodside Energy's CEO, who spoke on Tuesday, said that the company expects global demand for liquefied gas (LNG), to increase by 50 percent in the next decade. Over the past decade, the LNG market has grown by 50%. Meg O'Neill, speaking at the Energy Intelligence Forum held in London, said that she expects the market to grow another 50% over the next decade. O'Neill stated that the company has received…
Woodside: LNG Market to Grow by 50% in Next Decade
Australia's Woodside Energy WDS.AX expects the global market for liquefied natural gas (LNG) to grow by 50% in the coming decade, its CEO said on Tuesday."Over the last decade the LNG market grew by 50%. We anticipate it will grow by another 50% in the coming decade," Meg O’Neill told the Energy Intelligence Forum in London.O'Neill said the company had received interest from a lot of onshore gas players…
Woodside Energy CEO: We are in discussions with potential partners about Driftwood LNG
Woodside Energy CEO Meg O'Neill announced on Monday that the company is in talks with U.S. onshore gas producers, pipelines and companies who share its views and outlook on liquefied gas for its Driftwood LNG Project. O'Neill, speaking at an investor's conference in New York said that U.S. producers of gas were frustrated by the lower Henry Hub price for gas which is then converted into LNG and sold to higher global prices.
Shell to Shut Its Convent, La. Refinery Amid Pandemic
Royal Dutch Shell said on Thursday it will shut down its refinery in Convent, Louisiana, the largest U.S. facility to close since the coronavirus pandemic first hit and devastated economic demand worldwide.The shutdown, to occur this month, comes after Shell failed to find a buyer.The refinery is the ninth in North America either to announce a shutdown or to be idled since the pandemic, which has delivered a heavy blow to fuel demand globally.
US Energy Exports Severely Disrupted by Hurricane Laura
Oil and gas exports from the United States have been severely disrupted by Hurricane Laura, with nearly a million barrels per day (bpd) of crude exports likely reduced this week by closures of U.S. Gulf Coast terminals and disruptions at ports.The hurricane also temporarily suspended operations at several liquefied natural gas (LNG) facilities in the world’s third largest exporter of the super-cooled gas…
Shell to Exit Lake Charles LNG Project
Royal Dutch Shell said on Monday it will exit the Lake Charles liquefied natural gas export project in Louisiana, citing the plunge in oil prices due to the coronavirus pandemic.The project is a 50-50 venture with U.S. midstream company Energy Transfer, which said in a separate statement it will take over development of the project.(Reporting by Shradha Singh in Bengaluru; Editing by Aditya Soni)
Sasol's Annual Profit up 5%
South African petrochemicals group Sasol on Monday reported a 5% rise in annual profit and shelved its final dividend as the firm sought to strengthen its balance sheet in light of a challenging trading environment.Core headline earnings per share (HEPS), which strips out certain one-off items and is the primary profit gauge in South Africa, rose to 38.13 rand ($2.61) for the 12 months ended June.