$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…
US Natural Gas Hits High Amidst Cooler Outlook
U.S. natural gas futures hit a two-week high on Tuesday, underpinned by sharply colder 1–2 week forecasts that are lifting heating demand expectations, a month-to-date dip in output and strong LNG feedgas demand.Front-month gas futures for November delivery on the New York Mercantile Exchange rose 4.7 cents, or 1.4%, to $3.44 per million British thermal units (mmBtu) as of 10:09 a.m. ET, its highest level since…
US Natural Gas Prices Rise as LNG Exports Increase
U.S. natural gas futures climbed about 2% on Monday on near-record flows to liquefied natural gas (LNG) export plants and forecasts for more demand this week than previously expected.Front-month gas futures for November delivery on the New York Mercantile Exchange (NYMEX) rose 6.7 cents, or 2.0%, to $3.391 per million British thermal units (mmBtu) at 8:42 a.m. EDT (1242 GMT).In the cash market, average prices at the Waha Hub in West Texas…
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…
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…
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…
ConocoPhillips to Buy 4 Million Tons LNG from Sempra's Port Arthur Phase 2 Project
U.S. oil and gas producer ConocoPhillips said on Thursday it would secure 4 million tonnes per annum of liquefied natural gas from Sempra's Port Arthur LNG Phase 2 project in Texas to serve key global markets.Commercial activity in the U.S. LNG sector has picked up pace after President Donald Trump lifted a moratorium on new liquefied natural gas export permits soon after taking office in January.ConocoPhillips will buy LNG over a 20-year term on a free-on-board basis…
US Natural Gas Prices Drop 4% on Record Output
U.S. natural gas futures fell about 4% to a nine-month low on Tuesday on near-record output, ample fuel in stockpiles and forecasts for less hot weather and lower demand through early September than previously expected.Another factor weighing on gas prices was a decline in the amount of gas flowing to liquefied natural gas export plants due to small reductions at several facilities.Front-month gas futures for September delivery on the New York Mercantile Exchange fell 10.8 cents…
US Natural Gas Prices Drop 3% Ahead of Cooler Weather Forecasts
U.S. natural gas futures fell about 3% on Monday on near-record output, ample fuel in stockpiles and forecasts for less hot weather next week than previously expected.Front-month gas futures for September delivery on the New York Mercantile Exchange fell 9.5 cents, or 3.3%, to $2.821 per million British thermal units by 5:53 a.m. EDT (0953 GMT).The U.S. National Hurricane Center (NHC) projected Hurricane Erin, which was near the Bahamas, would move north and then east off the U.S.
US Natgas Prices Rise on Increasing Demand
U.S. natural gas futures edged up about 1% on Wednesday after dropping to an eight-month low in the prior session on forecasts for more demand over the next two weeks than previously expected and near-record gas flows to liquefied natural gas (LNG) export plants.That small price increase came despite near-record output, ample supplies of the fuel in storage, and the approach of a storm that could affect the U.S. East Coast as a demand-destroying hurricane next week.
Leviathan Natural Gas Field Signs $35b Supply Deal With Egypt
Israel's Leviathan natural gas field has signed the largest export agreement in the country's history, worth up to $35 billion to supply gas to Egypt, NewMed, one of the partners in the field, said on Thursday.The deal should ease an energy crisis in Egypt, which has spent billions of dollars on importing liquefied natural gas since its own supplies fell short of demand.Egypt's production began declining in 2022, forcing it to abandon its ambitions to become a regional supply hub.
Germany: No Auction Bids Raises Alarm for Future Offshore Wind Tenders
Germany's Economy Minister Katharina Reiche warned on Wednesday that flawed site selection and shifting market dynamics were undermining offshore wind tenders, as the country's latest offshore auctions received no bids.Two August tenders for offshore wind energy plants, with volumes of 2,000 MW and 500 MW, and planned commissioning dates in 2031 and 2030, drew no bids for the first time ever on Wednesday, utility association BDEW said…
US Natural Gas Prices Rise to Two-Week High Amidst Hot Weather
U.S. natural gas futures edged up about 1% to a two-week high on Wednesday as hot weather boosts the amount of gas power generators must burn to keep air conditioners humming and on near-record flows of gas to LNG export plants.Front-month gas futures for August delivery on the New York Mercantile Exchange rose 2.8 cents, or 0.8%, to settle at $3.551 per million British thermal units, their highest close since June 27 for a second day in a row.The U.S.
Guyana Searches For Company to Build NGL Facility
Guyana is looking for a company willing to build a natural gas liquids (NGL) facility as part of efforts to monetize its offshore gas reserves, according to a notice published by the South American government on Sunday.The storage and offloading facility would receive about 4,200 barrels per day (bpd) of liquids from a separation plant that is currently under construction. Once operational, that plant will strip…
Hindustan Oil Exploration Company Pauses Output At West India Oilfield
Hindustan Oil Exploration Company said on Friday it has temporarily suspended production at one of its oilfields in western India due to adverse weather and is monitoring the situation to resume output when the weather improves.The floating storage offshore (FSO) unit at the company's Mumbai basin has been safely de-moored and anchored at a secure location for over a week, it said."We are prepared for re-mooring the FSO...
Exxon Signs Agreement With Azeri SOCAR to Explore Oil Production
Exxon Mobil and Azeri state energy company SOCAR said on Monday they signed a deal agreeing to explore onshore oil and gas production in Azerbaijan, while BP is expected to buy into new Azeri offshore fields, according to three sources.Azerbaijan's production mainly relies on mature oil fields in the Caspian Sea and the country is aiming to maintain its oil output at around 582,000 barrels per day over the next five years with investment from Western energy companies.At the Baku Energy Week conference…
US Natural Gas Prices Fall 6% in Volatile Contract Expiration Trade
U.S. natural gas futures fell about 6% on Wednesday to a one-week low in volatile contract expiration trade, pressured by an expected decline in gas flows to liquefied natural gas (LNG) export plants.Traders said Freeport LNG in Texas might reduce output and they pointed to forecasts for less demand this week than previously expected.On its last day as the front-month, gas futures for June delivery on the New York Mercantile Exchange (NYMEX) fell 19.4 cents…
Shell LNG Trading Gives Quarterly Boost
Earnings from Shell's liquefied natural gas (LNG) trading operations are likely to have been significantly higher in the fourth quarter of last year despite a sharp output drop owing to plant outages, it said on Friday.Europe's largest oil and gas company's update ahead of its full-year results on Feb. 2 also said it expects to pay about $2 billion in additional 2022 taxes related to the European Union and British…
US Looking to Increase Gas Products Into Europe Amid Russia Cuts
The United States will keep looking for ways to increase gas products going into Europe in the face of Russian energy cuts after its invasion of Ukraine, the White House said on Wednesday."President Putin again is weaponizing energy," White House national security spokesman John Kirby said at a news briefing.(Reuters - Reporting by Jeff Mason and Doina Chiacu;)
Price is the Elephant in Australia's LNG, Domestic Gas Conundrum
Australia's threat to curb exports of liquefied natural gas (LNG) in order to ensure domestic supplies is another unwelcome pressure on a tight global market for the super-chilled fuel.But it's not an immediate threat, and it may also not materialize at all, depending on how the various players in Australia react to the government's planned action.What needs to be addressed effectively is the elephant in the room, namely the price at which natural gas is made available to domestic consumers relative to the pri