Monday, February 10, 2025

Louisiana News

Venture Global CP2 export plant in Louisiana to move forward with environmental report

The proposed CP2 LNG export plant of Venture Global, a U.S. liquefied gas (LNG), company in Louisiana has moved a big step closer to being built after the U.S. Federal Energy Regulatory Commission released a draft report on Friday. As global prices rose, the demand for LNG increased. This was due to the new projects developed by Venture Global…

Total CEO: Company rejected Venture Global LNG as supplier due to lack of trust

TotalEnergies has rejected the opportunity to be a long-term client of Venture Global LNG U.S. Terminals, because it does not trust them, said CEO Patrick Pouyanne on Wednesday. Venture Global, the U.S.'s most valuable LNG company, has seen its stock price soar after a massive initial public offering (IPO) last month. However it has…

Senators introduce resolution to repeal Biden methane fees rule

The U.S. Senate Republicans introduced a resolution on Tuesday to overturn Biden's administration's proposed methane emission fee, which was one of the last measures taken by the former Environmental Protection Agency to force oil and gas companies to reduce emissions of this powerful greenhouse gas. The resolution, introduced by Republican…

Data shows that Europe consumed almost all US LNG exported last month.

The preliminary data of financial firm LSEG shows that U.S. LNG exports to Europe jumped by a significant amount in January, as the cold weather drove demand up and prices for super-chilled gas increased. The total exports for the month of 8.46 million metric tons (MT) to all countries reached nearly nine out of ten cargoes. According to LSEG…

Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 8 weeks.

Baker Hughes, a leading energy services company, said that the U.S. added oil and gas rigs this week for the first eight-week period. The number of oil and gas drilling rigs, a good indicator of future production, increased by six in the week ending January 31. Baker Hughes reported that despite this week's increase in rigs the total count is still 37 rigs or 6% lower than this time last year.

Baker Hughes signs supply agreement with Venture Global

Baker Hughes, a provider of oilfield services in the United States, announced on Thursday that it had signed an agreement with Venture Global for technology and equipment to support its projects involving liquefied gas (LNG). Venture Global has signed a framework agreement for services to support phases 1 and 2 in Louisiana's Plaquemines LNG Project.

US NatGas Demand Could Hit Record High

(c) Mike Mareen / Adobestock

U.S. spot natural gas and power prices soared to multi-year highs in several parts of the country with extreme cold expected to boost gas demand to a daily record high on Tuesday.Extreme weather has created havoc for power and gas markets in recent years as demand has come close to outpacing supply.In February 2021, a freeze in Texas killed more than 200 people and left millions without power…

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…

The demand for US natgas is expected to reach a record high on Tuesday

The U.S. demand for natural gas is expected to hit a record on Tuesday as the extreme cold that has affected much of America puts pressure on power grids, and certain oil and gas operations. Last week, the February natural gas contract reached its highest price since December 30, 2022. The cold weather that accompanied the weekend had the potential to reduce output due to the freezing of gas wells and pipelines.

Republican-led states file suit against Biden administration for offshore drilling ban

A group of Republican states filed a suit on Friday to challenge a ban on offshore oil and natural gas development announced earlier this month by the outgoing Democratic U.S. president Joe Biden. According to a court document, the lawsuit is seeking a reversal Biden's prohibition with declaratory and judicial relief. The filing argues…

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…

US natgas flow to Freeport LNG Export Plant in Texas reduced – LSEG data

According to data provided by financial firm LSEG, the amount of natural gases flowing to Freeport LNG’s Texas export plant was on course to reach a new one-month record low on Monday. Freeport LNG has one of the highest levels of attention in the world, as the start-up and shutdown of its operation can cause huge price swings on global gas markets. U.S.

Winter storms in the US could lead to power outages and a reduction of natgas supplies

According to energy analysts, the next few weeks could see massive power outages across the U.S. and a spike in natural gas demand. As a result of the "freeze offs" of oil and gas pipes and wells, the demand for gas is expected to increase. According to the U.S. Energy Information Administration, gas is responsible for 43% of America's electricity generation and 45% of its homes are heated by it.

Dallas Fed: US oil executives will expect quicker permits under Trump

According to a Federal Reserve Bank of Dallas study released on Thursday, U.S. Energy executives expect quicker permitting times for drilling federal lands in the Trump administration. According to a survey conducted in December of 134 energy companies in Texas, Louisiana, and New Mexico, the overall outlook improved, activity levels increased, and uncertainty decreased in the fourth quarter of 2024.

US NatGas up as LNG feedgas rises, Frigid Temps Forecast

U.S. natural gas futures edged up about 1% on Thursday on near record flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher heating demand over the next two weeks than previously expected.Also supporting U.S. futures, traders noted that European gas prices climbed to a 13-month high due to cold…

EUROPE GAS - Prices rise due to colder weather forecast and transit concerns in Ukraine

Dutch and British wholesale prices for gas rose on Friday, boosted by cold weather forecasts in January and the fading hope of a new agreement to transit Russian gas via Ukraine. By 0914 GMT, the benchmark front-month contract for the Dutch TTF hub had increased by 1.27 euros to 46.80 euros/megawatt hour or $14.36/mmBtu. The contract for February was increased by 1,211 euros to 46,96 euros/MWh.

Document filed by Venture Global LNG shows that it wants to extend the force majeure for its first plant until 2025.

Venture Global LNG intends to extend force majeure for its Calcasieu Pass plant in Louisiana until 2025. This would delay the first deliveries under long-term contract to three years following production. Due to power problems, the plant's prolonged commissioning has resulted in contract arbitration actions brought by BP, Shell, Edison, Repsol Galp and Orlen.

US LNG Rises 2% on LNG Plant Volume Data

U.S. natural gas futures climbed about 2% on Wednesday on rising flows to the nation's liquefied natural gas (LNG) export plants and expectations utilities pulled more gas out of storage than usual to heat homes and businesses during extreme cold for a second week in a row last week.Analysts, however, projected rising output and forecasts…

Venture Global says it has produced the first LNG at its Plaquemines plant.

Venture Global LNG produced its first LNG (liquefied natural gases) on Friday at its Plaquemines facility in Louisiana. The first U.S. plant to produce super-chilled natural gas in two years, Cheniere Energy Corpus Christi's midscale expansion project has been beaten to the market. Venture Global said that it had built two of its fastest…

Oil rises by 1% in a 3-week period as sanctions on Russia and Iran increase

The price of oil rose by about 1% on Friday to a record high for three weeks, as a result of expectations that additional sanctions against Russia and Iran would tighten up supplies. Lower interest rates in Europe or the U.S. may also boost the demand for fuel. . U.S. West Texas Intermediate crude (WTI), which is a blend of oil from Texas and Louisiana, rose by 79 cents or 1.1% at $70.81.

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