Sources say that Japan's Mitsui is close to purchasing a stake in Qatar LNG Project.
Five sources said that Japan's Mitsui & Co. is on the verge of buying a stake, in the second phase, in QatarEnergy’s massive North Field project as it seeks a stable liquefied gas (LNG). The deal, if reached, would strengthen Japan's energy safety as it seeks to meet the increase in electricity demands from the artificial-intelligence boom using conventional fuels. Qatar would also gain a larger weighting in Tokyo’s energy portfolio…
Sources: Mitsui Japan is close to a stake in Qatar LNG Project
Five sources said that Japan's Mitsui & Co. is on the verge of?buying a share in the second phase QatarEnergy’s massive North Field Project?in order to ensure a stable liquefied gas supply (LNG). The deal, if reached, would strengthen Japan's energy safety as it seeks to meet the increase in electricity demands from the artificial-intelligence boom using conventional fuels. Qatar would also gain a larger weight in Tokyo's portfolio of energy after striking a 27-year deal with JERA earlier this week…
Petronas signs a 20-year LNG Supply Deal with QatarEnergy
QatarEnergy has agreed to supply Petronas with 2 million metric tonnes of LNG per year in a deal lasting 20 years. This will help meet the country's increasing gas demand despite its dwindling gas reserves. Qatar signed a 27-year LNG deal with Japan in the last week, and this deal was the first long-term LNG supply agreement between the two nations. Petroliam Nasional (Petronas) is pursuing new investments in natural gas fields abroad…
Commonwealth LNG signs 20-year supply agreement with Mercuria in response to US LNG export growth
Commonwealth LNG announced on Tuesday that it had signed a sale-and-purchase agreement for 20 years to supply Mercuria 1 million metric tonnes of liquefied gas per year. The deal stipulates that Mercuria would provide Commonwealth with the equivalent amount of natural gas (estimated at 133 millions cubic feet per day) and Commonwealth will convert it to LNG, which Mercuria can then purchase. Commonwealth, a company owned by energy asset management firm Kimmeridge and majority-owned by Commonwealth…
Sources say that Malaysia's Petronas is set to sign a deal for LNG supply with QatarEnergy.
Two sources familiar with the matter said that Malaysia's state-owned company Petronas was set to sign a deal with QatarEnergy for the supply of liquefied gas. The southeast Asian nation is seeking more supplies of the super-cooled fuel. One of the sources said that Petroliam Nasional or Petronas will sign a deal for LNG up to 2,000,000 metric tons annually. According to Kpler data, Qatar was the second largest LNG exporter in the world after the United States.
Malaysia's Petronas wants to increase its exploration and production over the next three months
Petronas, Malaysia's state-owned energy company, said it would increase exploration and production over the next three year to improve domestic energy security. Petronas stated that it will maintain its domestic production?at??close to?two million barrels of equivalent oil per day? between 2026-2028. It will also continue to invest in exploration, deepwater developments, enhanced oil recovery, and new production-sharing contracts awarded in the Malaysia bid round 2024.
Brava, a Brazilian company, buys Petronas stakes in offshore fields worth $450 million
The Brazilian oil company Brava 'Energia announced Friday that it had acquired the Petronas stakes in Malaysia. In two offshore fields, the company has invested $450 million. This is part of a new strategy outlined by its incoming CEO. Brava has purchased Petronas 50% stakes at the Tartaruga Verde and Module III fields in Brazil's Campos Basin. Richard Kovacs said that the 'deal' marked the start of Brava’s?long-term plan and was in line with the ongoing Brava portfolio review.
Commonwealth LNG receives US approval to export non-FTA products for 20 years
Commonwealth LNG, a U.S. company, has been granted a 20-year export license from the Department of Energy for liquefied?gas to be exported from its proposed Louisiana plant to countries that do not have free trade agreements. The company also received approval for 25 years of exports to FTA countries. The authorizations become effective either when the facility begins exporting commercially, or after seven years from the date of the grant.
Analyst: Myanmar to resume LNG imports following cargo received last month
Myanmar will resume LNG imports in 2019 after receiving half of a cargo of the super-chilled fuel last month. This marks an end to a four-year-long hiatus of shipments. After the civil war, shipments of LNG to Southeast Asia were stopped. Since then, Myanmar has experienced gas shortages and widespread blackouts. Analyst Nelson Xiong said that Kpler expected Myanmar to import 0.4 millions tons of LNG by 2026. Two'restarted' or upgraded LNG to power projects will ramp up to a total 500 megawatts.
Australia requires LNG exporters to retain a minimum for the home market
Australia's new scheme will require exporters of liquefied?gas to keep up to 25% of their output for domestic use. The plan was announced on Monday in an effort to curb price spikes and fill a supply gap that has been predicted. The government of Anthony Albanese, a centre-left Prime Minister, said that it would work closely with exporters to create a system which limits the amount of domestic gas. A minimum allocation at local level is between 15 and 25 percent.
Australia is preparing to review its gas market, which could affect LNG exports
Australia will soon issue a review of the gas market that could limit exports from its east coast. Three operators, led by Shell and Santos, send cargoes to Asia. They said that the review, which they expect Canberra to release this week, may 'include a plan for LNG exporters to prioritize local supply in the populous east, the main source of domestic demand. Tony Wood, energy analyst at Melbourne's Grattan Institute, said that the government is trying to solve a difficult problem.
Shell-led LNG Canada’s second processing unit is still down, according to sources
Two sources have confirmed that Shell-led LNG Canada’s second processing unit known as Train 2 is still down almost a month after it was first started up. On November 20, the company announced that a restart was scheduled for December 1, and would last approximately two weeks. On Thursday, a spokesperson for LNG Canada stated that it would provide an update this week. The complex, located in Kitimat (British Columbia)…
TotalEnergies and Petronas get the green light for exploration in Guyana
TotalEnergies and Petronas are oil producers who have signed an agreement for five years with the Guyana government to explore shallow-water blocks, officials and executives of both companies said on Tuesday. Guyana is struggling to diversify its industry. Its energy sector is currently dominated by an Exxon Mobil-led consortium, which controls all oil and gas production since Guyana became a producer of crude oil in 2019.
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LNG Canada announces that it has begun production at its second unit.
The company announced that LNG Canada had begun producing liquefied gas in the second of two processing units. This unit is known as Train 2. A spokesperson said that both trains of the Shell-led Kitimat project, each with a 6.5 million ton capacity per year, are now operational. LNG Canada, Canada's first major LNG export plant and first facility on the West Coast of North America to provide direct access into Asia, the largest liquid fuel market in the world, is now operational.
Eni and Petronas combine Indonesian and Malaysian assets in joint venture
Eni, the Italian energy company, and Petronas, Malaysia's state-owned energy company announced on Monday that they had signed an agreement for a joint venture to combine their upstream oil assets and gas assets located in Indonesia and Malaysia. NewCo will manage 19 assets in Indonesia and Malaysia. It plans to invest $15 billion over the next five-year period to develop and explore about 3 billion barrels in discovered reserves. The agreement was signed in Abu Dhabi at ADIPEC.
Eni increases share buybacks after Q3 results better than expected
Eni, the Italian energy company, announced on Friday that it would increase the share buybacks by 20% following better than expected third quarter results. The company posted a net profit adjusted of 1,25 billion euros in the third quarter. This was slightly below the 1,27 billion euro profit reported in the same period last year. Eni announced that it would increase its share buyback for 2025 by 20%, to 1.8 billion Euros. This is due to the fact that pro-forma debt levels are near historic lows.
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, building its own supply and eventually would cease all domestic purchases of gas.
Eni will launch a joint venture with Petronas Gas in 2026
Guido Brusco said that Eni's gas joint venture will be up and running by the end of next year. He is the chief operating officer for global natural resources at Eni. Both companies announced in January that they would be moving forward with the project of developing gas assets in Malaysia, Indonesia and other countries. Petronas said it could take up to two years for regulatory approval, but the exact timeline was unclear.