East Timor to build second LNG plant
Minister of Petroleum and Mineral Resources Francisco da Costa Monteiro said that East Timor plans to build a second "liquefied natural" gas plant along its southern coast. The plant will use leftover gas from Bayu-Undan, Chuditch and other fields. The company hopes to feed the 5 million metric tons per year Timor LNG plant with Greater Sunrise gas fields that it shares jointly with Woodside Energy.
Australian Inpex Workers Set Industry Precedent With New Pay Deal
Workers at Inpex's Ichthys liquefied natural gas plant in Darwin have overwhelmingly backed a new pay deal that unions hope to replicate across Australia's offshore energy sector.The agreement is the first in what unions describe as a second wave of bargaining across the sector, as they seek similar pay and conditions in upcoming negotiations with Shell…
Michael Belenkie, CEO of Advantage Energy, steps down. An interim leader is named.
Michael Belenkie, president, CEO, and board director of Canadian company Advantage Energy, announced on Monday that he has resigned, effective immediately, due to a shareholder push for'stricter financial oversight. Calgary-based energy company, Alberta Energy Productions Inc. has appointed Board Chair John Festival to the position of interim CEO as it searches for its permanent successor.
Data shows that Russian LNG exports rose 11.5% from January to May.
The preliminary LSEG data on Monday showed that Russia's exports grew by?11.5% from January to May compared to a year ago, reaching 14.5 million metric tonnes. This was due to a strengthening of supplies from the Arctic LNG 2 Project. Total Russian LNG exports jumped by 23% in May compared to a year earlier, reaching 3.12 million tonnes.
Australian maintenance workers strike Woodside's North West Shelf LNG Plant
After failed negotiations with the contractor UGL, maintenance workers at Woodside Energy’s North West Shelf and Pluto LNG export plant in Australia went on strike Wednesday. Offshore Alliance is a 'grouping of the Australian Maritime Union and the Australian Workers Union. It said that workers took action because UGL had offered a enterprise agreement below industry standards.
The Australian union has announced that some workers will begin a strike at Woodside's LNG facilities
The Offshore Alliance workers' union announced on Friday that some workers at Woodside Energy’s?Karratha liquefied natural gas /plant in Western Australia and its?Pluto gas?plant in Western Australia would begin striking action as of Wednesday. Offshore Alliance is a grouping of Australian?Workers Union' and Maritime Union of Australia.
Australian State calls for quicker approvals of new oilfield
Queensland, Australia's state, said on Wednesday that it would urge the federal government to streamline approvals of a 'potentially' first new oilfield Australia has seen in decades. It argues that faster development is necessary to boost fuel security. Taroom Trough, a frontier basin that may contain large unconventional gas reserves, could also hold significant oil.
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.
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.
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 backin
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.
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.
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…
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.
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…
How BP won a $1 billion plus case against Venture Global
Five sources familiar with the case said that BP's $1 billion arbitration win against liquefied gas producer Venture Global was won by arguing unfair behavior by the U.S. firm. This strategy could be used in similar cases by other claimants. BP won in October. Two months earlier, Shell had lost a similar lawsuit when it was unable to prove Venture Global's breach of long-term LNG agreements.
Woodside signs Williams as an investor for Louisiana LNG construction to accelerate
Woodside Energy, a company based in Australia, has hired U.S.-based Williams to be an investor and operator of the Louisiana Liquefied Natural Gas Plant. This is to benefit from its infrastructure expertise and reduce costs as construction increases. Williams will receive a 10% stake of Louisiana LNG Holding Company and 80% ownership in the Driftwood Pipeline…
Santos' GLNG facility will stop purchasing Australian domestic gas by 2027
Santos' Gladstone Liquefied Natural Gas plant (GLNG) in Australia will cease buying gas produced domestically to meet export contracts, according to its CEO on Tuesday. This could help ease the supply shortages on Australia's east coast. GLNG's CEO Stephen Harty stated that the company spent about A$1billion ($650m) a year on developing its own tenements…
UN calls on Australia to increase climate action
The UN climate chief called on Australia set an ambitious emissions target for 2035 and to accelerate its clean energy transformation, warning that failure to act could undermine living standards and regional stabilty. Simon Stiell said that Australia should "go big" and do what is smart. "Don't settle with what is easy. "Bog standard is beneath you"…
Venture Global to add natural gas to final part of Plaquemines LNG Plant, a filing shows
Venture Global asked federal regulators to allow it to inject natural gas into the final section of its Plaquemines Liquefied Natural Gas plant by Thursday, according to an official filing made on Monday. Venture Global, if the Federal Energy Regulatory Commission gives the permission, will be producing LNG soon from its entire Plaquemines facility…