State media report that Malaysia's deputy PM claims Petronas was threatened to "burn" LNG facilities
According to state media, the Malaysian authorities issued a security warning for liquefied gas facilities after an employee of state energy company Petronas was threatened by telephone to burn them down. Petronas or Petroliam Nasional Berhad confirmed that it is working with the authorities following a directive from the National Security Council to tighten security at LNG facilities in Sarawak on Monday.
Executives warn that US tariffs are worsening challenges for the petrochemical sector.
TotalEnergies' executive said that U.S. Tariffs could cause a 15% decline in global petrochemicals trade. This was revealed at the APPEC Conference in Singapore, held on Tuesday. Ganesh Gopalakrishnan's, TotalEnergies head of petrochemicals, said on the sidelines APPEC that if tariffs are kept in place the petrochemicals trade will drop another 15% on top of the previous 34% decline it has experienced in the last five year.
Malaysia's Petronas announces a'strategic transform' after H1 profits fall
Petroliam Nasional Bhd, the Malaysian state-owned energy company (Petronas), announced on Friday it had undergone a "strategic transform" to address operational challenges following lower profits and revenue for the first six months of the year. Petronas reported a profit of 26.2 billion ringgits ($6.2 billion) for the six-month period ending June 30. This is down from the 32.4 billions ringgits in the same period last year.
Suriname's Staatsolie will launch an offer for offshore oil fields in November
Suriname's state-owned oil company Staatsolie announced on Tuesday that it will offer an "open door" in November for the exploration and evaluation of offshore areas. The small South American country is seeking partners and funding for an oil and natural gas boom, which they hope to achieve. The country is expecting to start offshore oil and natural gas production by 2028, following a successful investment decision for the flagship 12 billion dollar Gran Morgu project…
Tokyo Gas to Buy LNG from Venture Global
Tokyo Gas is in discussions with Venture Global to purchase 1 million metric tonnes per annum of liquefied natural gas from the company's CP2 export facility, three people with knowledge of the talks told Reuters on Monday.Venture Global is the second largest U.S. LNG exporter and since 2023 has been the main source of the country's growing LNG export capacity, helping the U.S. remain the world's largest exporter…
Petronas continues talks with Petros following the adjournment of a court case
Petronas announced on Monday that a Malaysian court had granted an adjournment request from the national energy company Petronas, and the Sarawak State-run Company Petros in a case concerning a dispute regarding gas rights in the province. Petronas announced that the case at the High Court of Kuching in Sarawak has been adjourned by one month in order to allow the ongoing negotiations to continue. Petronas…
Inpex awards contracts for engineering design of Indonesian LNG Project
Inpex Corp, a Japanese oil and natural gas exploration company, announced on Monday that it had awarded several contracts for the early stages of design work in its $20 billion Abadi project for liquefied gas in Indonesia's Masela Block. This move indicates that early design is progressing towards the final investment decision. The project is expected to produce 9.5 million tons of LNG per year at its maximum. The Japanese explorer began the front-end design process in April.
Sources say Shell-led LNG Canada is facing problems when it ramps up its production.
Shell-led LNG Canada has been experiencing technical difficulties as it ramps production up at its liquefied gas plant in Kitimat. One LNG tanker was diverted away from the facility recently without superchilled fuel, according to data provided by LSEG and four sources. The facility is the first major LNG-export facility on the West Coast of North America and Canada, and provides direct access to Asia, which is the largest LNG market in the world.
Eni CEO: Italy's Eni is considering increasing the share buyback.
Claudio Descalzi, the chief executive of Italian energy company Eni, said that if positive trends continue in the first half of this year then it is possible to increase their share buyback program later this year. A weaker dollar and lower oil prices weighed down on the company's second-quarter adjusted profit. This was despite a better than expected performance in its gas business. The results exceeded analysts' expectations.
Venture Global Produces LNG from Phase 2 of Plaquemines Facility
Venture Global has started producing liquefied natural gas from Phase 2 of its Plaquemines export facility in Louisiana, according to two people familiar with its operations as well as LSEG ship tracking data and federal filings.In the last six months, the United States' second-largest LNG producer has exported LNG from Phase 1 of its Louisiana facility, and has now begun producing the superchilled gas from Phase 2…
Sources say that Venture Global has begun producing LNG at the Plaquemines Phase 2 plant.
According to LSEG ship tracking and federal filings, two people who are familiar with Venture Global's operations and have been following its operations for some time as well as two people familiarized with its operations, Venture Global began producing liquefied gas at Phase 2 of the Plaquemines Export Facility in Louisiana. Two people with knowledge of the project said that the second largest LNG producer in the United States has been exporting LNG from its Louisiana facility for the past six months.
Venture Global signs 20-year LNG contract with Petronas
Venture Global Inc, a U.S. LNG exporter, announced Thursday that Petronas had agreed to purchase 1 million metric tonnes of LNG from the CP2 Project. This is its first new CP2 client in two years. Venture Global, a startup just three years ago has grown to be the second largest LNG producer in the United States and played a major role in keeping this country stable. According to a person who has knowledge of this matter, Petronas's 20-year deal would supply oil from the first phase of the project.
Canada exports first LNG cargo from Pacific Coast
A spokesperson for Shell-led LNG Canada confirmed on Monday that Canada's first LNG export cargo was shipped from its Pacific Coast to Asia. The cargo was loaded on the tanker Gaslog Glasgow at LNG Canada's Kitimat site, British Columbia. This happened just over a weeks after the facility had confirmed its first production. It became the first large commercial LNG operation of the country. LNG Canada is North America's first major LNG plant with direct access to Pacific Coast.
Canada Produces First LNG For Export
The Shell-led Canada facility has produced its first liquefied natural gas for export in Kitimat, British Columbia, a spokesperson for the project confirmed on Sunday.The new production, which will go mainly to Asia, comes amid concerns over disruptions to the 20% of global gas supply coming from Qatar, due to the Israel-Iran conflict and the possibility of Tehran closing the Strait of Hormuz, a key shipping lane.The facility has not yet loaded its first LNG export cargo…
LNG Canada produces first liquefied natural gas for export
A Shell-led LNG Canada facility in Kitimat has produced the first liquefied gas for export, confirmed a project spokesperson on Sunday. This milestone is in anticipation of LNG Canada loading its first LNG cargo at the facility, which it said will be done by the middle this year. It is also the first major LNG plant in North America to have direct access to the Pacific Coast, thereby reducing the sailing time to Asian markets compared to U.S. Gulf Coast facilities.
LNG Canada produces first liquefied natural gas for export, sources say
Two people who were familiar with the start-up of the plant said on Sunday that the Shell-led LNG Canada has produced its first liquefied gas for export. One of the sources said that "at 4 a.m. This is the first large-scale Canadian project to start production. It's also the first major North American facility with direct access on the Pacific Coast, reducing the sailing time to Asian markets. According to the company…
Canada Could Produce First LNG by This Weekend
Canada could produce its first ever liquefied natural gas this weekend, from the LNG Canada export facility in Kitimat, British Columbia, two people familiar with the startup of the plant told Reuters on Wednesday.The facility, the first of a handful of Canadian LNG projects to begin production, will be the first LNG facility in North America with direct access to the Pacific coast, significantly reducing…
Sources say Canada could produce its first LNG this weekend
Two people who are familiar with the launch of the plant said on Wednesday that Canada could produce the first liquefied gas ever this weekend. This facility will be the only LNG plant in North America that has direct access to the Pacific Coast, reducing the sailing time to Asian markets. According to the company, when fully operational, it will be able to export 14 millions metric tons per year (mtpa). "We started cooling down Train 1 Monday.
Energy companies race to Southeast Asia for gas to meet AI power demand
Energy companies are investing in gas exploration and production to meet the rising demand for power from a growing population and the proliferation of data centers in this region. As countries pursue different paths of energy transition, European majors are pivoting back to conventional fuels that are more profitable. Southeast Asian governments also want to increase the affordability of local gas to improve economic growth and energy security.
Staatsolie, Petronas sign production-sharing contract for deepwater block in Suriname
Staatsolie, the state energy company of Suriname, and an affiliate from Malaysia's Petronas signed a contract on Tuesday for a production sharing agreement to explore and develop an offshore oil-and-gas block. Suriname will soon begin producing offshore natural gas and crude oil after companies such as TotalEnergies and APA discovered reserves that could be developed commercially. Staatsolie has the option to buy up to 20% of each area.