Energean, a UK-based company, signs a 15-year contract for the transmission of Israeli gas
Energean, a British gas producer, announced on Friday that it had signed 15-year contracts for the planned Nitzana gas pipeline from Israel to Egypt. The agreement was part of a $4 billion contract with Israel. Energean reported that the deal with Israel Natural Gas Lines, a state-owned pipeline operator, covers a transmission of up 1 billion cubic meters of natural gas each year. There are options to extend and terminate early. Energean stated that the Nitzana Pipeline will run from Ramat Hovav, in southern Israel, to the Egyptian border, near Nitzana.
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, which will provide feed gas for the $17.5 billion project. Williams, which operates over 33,000 miles (53.108 km) of pipe across 24 U.S. States, will pay Woodside $1.9 billion and contribute $378 million towards the project's costs.
Woodside rallies to cap losses; miners and tech drag Australian shares down
Australian shares dropped for the second session in a row on Thursday. Mining and tech stocks were to blame, but losses were mitigated by Woodside Energy's surge following new investment in Louisiana LNG. S&P/ASX 200 Index fell 0.4% at 8,993.5 by 0002 GMT. The benchmark closed Wednesday 0.7% lower. After three sessions of gains, technology stocks dropped by 1.2%. U.S. stocks closed lower overnight after a wave mixed earnings reports from corporates dampened sentiment. Block Australia shares dropped 2.3% while WiseTech, a software services provider, fell 1.3%.
Williams invests $1.9 billion in Woodside's Louisiana Liquefied Natural Gas venture
The companies announced that U.S.-based Williams would spend $1.9 billion to develop LNG facilities and a pipe for Woodside Energy’s $17.5 billion project in Louisiana involving liquefied gas. Williams announced on Wednesday that the pipeline operator would take a 10% stake and simultaneously purchase an 80% ownership and operatorship in the Driftwood Pipeline for $250 million. Woodside expects to receive a total of $378m under the agreement. Australia's largest energy company said this in an announcement made separately on Thursday. Woodside has reduced its previous estimate of $11.8billion to $9.9billion.
US Postpones Sanctions on NIS Oil Company
The U.S. has postponed sanctions on Serbia's Russian-owned NIS oil company, which runs Serbia's only oil refinery, for one week until October 15, Belgrade-based Nova Ekonomija news portal reported on Wednesday, citing sources.The reported extension comes as the U.S. extended a license for Croatian oil pipeline operator JANAF to transport crude to Serbia for another week, as it seeks to complete the delivery of contracted volumes, JANAF said on Wednesday.NIS did not respond to a request for comment.The U.S.
Targa will build a 500-mile NGL pipe in Permian
Targa Resources announced on Tuesday that it will construct a 500-mile natural gas liquids pipeline from its plants located in the Permian basin to its fractionation, storage and distribution complex in Mont Belvieu in Texas. The Speedway NGL Pipeline will cost approximately $1.6 billion, and have a capacity of 500 thousand barrels a day at first. The pipeline with a diameter of 30 inches is expected to enter service in the third quarter 2027. The pipeline operator is also building a natural-gas processing plant called Yeti in the Permian-Delaware basin of Texas.
How Canada's Haisla become the first Indigenous LNG owner in the world
Maureen Nyce wore a hardhat and a safety vest during an August visit to Cedar LNG's pipeline site, not as a dignitary visiting or cultural emissary, but as the owner. Haisla, who have lived on Canada's Northwest Coast for over 9,000 years, own 50.1% of the $4 billion Cedar LNG export project in Kitimat. The remainder is owned by Calgary-based Pembina Pipeline. The world's first majority-Indigenous-owned LNG project, expected to be operational in 2028, could drastically change the future of Nyce's people and serves as a test case for Canada…
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, after banks solicited offers in recent weeks, the people said, asking not to be identified because the discussions are private.The deal would mark JERA's first foray in shale gas production…
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, the owners of the Leviathan natural gas field off Israel signed a $35 billion export deal to supply gas to Egypt.
Chevron and Israeli pipeline operator will launch new gas pipeline towards Egypt
Chevron announced on Tuesday that it had signed a contract with Israel's pipeline operator, a state-owned company, to begin construction of the Nitzana pipeline. The pipeline will transport gas from Leviathan to Egypt. Nitzana will ease Egypt's energy crisis. Egypt has spent billions on the importation of liquefied gas. This is part of an effort to increase Israeli gas exports into the Arab World's largest nation. The owners of Leviathan, a natural gas field located off Israel, signed a deal worth $35 billion last month to export gas to Egypt. Leviathan is owned by NewMed Chevron Ratio Energies.
Repsol to be taken over by MedcoEnergi for South Sumatra oil blocks
MedcoEnergi, an Indonesian company, announced on Tuesday that it had agreed to purchase large stakes of two South Sumatra oil-and-gas blocks from Repsol Spain for approximately $90 million. The oil and natural gas explorer announced that it would take over operatorship of both blocks, subject to Indonesian approval. Repsol stated in 2019 that Sakakemang has 2 trillion cubic feet recoverable gas based on preliminary estimates. South Sakakemang remains in the exploration phase. Roberto Lorato…
Primorsk Port Partially Resumes Oil Loadings after Drone Strikes
The Baltic Sea port of Primorsk, a major outlet for Russian oil exports, partially resumed operations on Saturday following disruptions and damage caused by Ukrainian drone strikes, two sources familiar with the matter said.Primorsk, which is capable of loading some 1 million barrels of oil per day, is expected to operate at a lower capacity due to the damage, the sources said.
Russian Oil Supplies to Hungary and Slovakia Halted After Ukraine Attack
Russian oil supplies to Hungary and Slovakia could be suspended for at least five days after a Ukrainian strike on a facility in Russia, Hungarian and Slovakian officials said on Friday, in a widening of the fallout of Russia's war in Ukraine.Russia and Ukraine have stepped up attacks on each other's energy infrastructure, hitting Ukrainian domestic heating supplies, Russia's Druzhba pipeline and other facilities, over the past few weeks as U.S. President Donald Trump has pushed for a deal…
Pipeline operator ONEOK greenlights new Delaware Basin gas plant
Midstream company ONEOK announced on Tuesday that it had made a final decision to invest in a new natural-gas processing plant in Delaware Basin. This will expand its footprint in America's top shale gas field, as gas volumes continue to surge. The company has increased its presence in Permian Basin, which includes the Delaware Basin, through strategic moves, such as acquiring NGP XI Midstream Holdings stake in their Delaware Basin Joint Venture, buying a Gulf Coast NGL Pipeline System and taking over Medallion Midstream, EnLink Midstream, and Medallion Midstream.
Enbridge Sees Demand for More Pipeline Capacity from Canada to US Gulf
Canadian pipeline operator Enbridge said on Friday its recent commercial process to gauge oil shippers' interest in an expansion of its Flanagan South pipeline was oversubscribed, indicating strong demand for additional oil transport capacity from Canada to the U.S. Gulf Coast.The success of the Flanagan South open season — an industry term for the binding process pipeline companies use to notify shippers of available capacity and solicit bids — brings Enbridge closer to formally sanctioning its proposed expansion of its Mainline network…
Clean Crude Oil Arrives at BTC Ceyhan After Chloride Contamination
Crude oil arriving at the BTC Ceyhan terminal in Turkey is returning to normal specifications following organic chloride contamination, BP said on Thursday, though some tanks still hold tainted oil.Organic chloride was detected in Azeri BTC crude cargoes last week, pushing price differentials to a four-year low and delaying loadings.Loadings resumed after a pause from July 20-24, with shipments now proceeding from tanks cleared of contamination, subject to testing and charterer approval, sources told Reuters.Azeri BTC loadings from Ceyhan totalled 423…
TC Energy increases its core profit forecast for the full year on natural gas and electricity demand
TC Energy, a Canadian pipeline operator, raised its core earnings forecast for the full year adjusted on Thursday due to increased demand for natural gas and electricity and its North America operations. TC Energy announced in May that it expects a surge in capital projects to be announced later this year or in the following years, due to coal-to gas conversions and growth in data centers driving natural gas demand across North America. The company's quarterly total revenue rose by 12%, to C$3.74billion ($2.70billion)…
Russian FSB Allow Foreign Tankers to Access Black Sea Ports; Kazakh Oil Exports Resume
Russia's FSB security service has started handing out clearance for foreign tankers to access the Black Sea ports, allowing for Kazakhstan's oil exports to resume after they were halted for nearly a day, four industry sources said on Thursday.The suspension led to the disruption of around 2% of global supply and drove international oil prices to almost $70 a barrel on Thursday before they pared gains. Russian regulations mean foreign ships require the approval of Russia's FSB security service…
Orlen Will No Longer Purchase Russian Oil Starting July
Polish refiner Orlen will not buy Russian oil for its Czech refinery after June 30, Chief Executive Ireneusz Fafara said on Monday.The contract with Rosneft for Russian oil to be supplied to the Litvinov refinery in the Czech Republic was the last one linking Orlen to Russian oil, it said in a statement."We freed Central Europe from Russian oil today," Fafara told a news conference.The Czech Republic had said in April that it had become fully independent of Russian oil supplies for the first time in its history following the completion of capacity upgrades on the TAL pipeline coming from the west.Since Russi
Energy Transfer to Supply Chevron With Additional LNG
Pipeline operator Energy Transfer said on Wednesday it will supply U.S. oil major Chevron with an additional 1 million tonnes per annum (mtpa) of liquefied natural gas from its Lake Charles LNG export facility.The 20-year agreement brings the total volume of LNG supply contracted by Chevron to 3 mtpa, following the initial 2 mtpa agreement signed last year.Commercial activity within the sector has gained momentum in the U.S., the world's largest LNG exporter, after President Donald Trump…