Operations for QatarEnergy LNG Expansion Project to Begin in November
The first liquefied natural gas train under QatarEnergy's North Field East expansion project will be ready to start operation in November, two people aware of the company's plans said, offering Qatar a path to restoring some output lost to Iranian attacks.Launching the train would be a major milestone for the world's largest LNG expansion project at a time when Qatar is still recovering from the damage caused by attacks on Ras Laffan, which wiped out 17% of the country's LNG capacity.LNG pr
ConocoPhillips claims that any delays in the Qatar LNG project are likely to be limited to a few months.
ConocoPhillips announced on Thursday that it expects any delays to its Qatar LNG project will 'likely' be in the months rather than a year and does not anticipate any impact on cash flow. The U.S. gas and oil producer is a?partner in QatarEnergy’s main LNG project. This includes?offshore installations in the North Field, and onshore at?Ras Laffan. ConocoPhillips' executive stated on a call after earnings that they expect any delays to first?gas and first cargo will be of the?months-type…
EUROPE GAS-European gas prices rise on warmer weather
Dutch and British gas contract prices firmed up on Monday, as warmer weather is expected in Central Europe. This will increase demand for gas. Ship tracking also showed that gas tankers are trying to cross the 'Strait of Hormuz' during the peace talks between the U.S. ICE data revealed that the benchmark Dutch front-month contract for the TTF hub had increased EUR0.65 to EUR42.80 a megawatt hour. The British spot contract increased by 1.64 pence to 102.7 pence per thermo.
Authorities say 54 injured and 18 missing following explosion at Qatar LNG site
Authorities said that 54 people were injured, and 18 others were missing following an explosion on Sunday at Qatar's main LNG processing site of Ras Laffan. In a statement, QatarEnergy said that an incident occurred during the'start-up' of operations in Ras Laffan. This led to a fire and explosion at Barzan Local Gas Supply Facility on Sunday evening. It said that emergency response teams had been deployed to contain the fire.
McDermott CEO says that McDermott will deliver the expansion project of QatarEnergy on time after conflict.
McDermott International did not stop work on QatarEnergy’s massive North Field East project during the Iran War, said Chief Executive Michael McKelvy on Tuesday. McDermott will install the offshore infrastructure to transport natural gas from Qatar’s North Field, currently being constructed at Ras Laffan Industrial City. Even though the war was going on, we never stopped working. McKelvy said that despite some limitations the work did not cease.
QatarEnergy Plans to Restart LNG Output
QatarEnergy is ready to resume liquefied natural gas production at its Ras Laffan LNG plant very quickly and could reach within a month full output of facilities unaffected by Iranian strikes, a person with knowledge of the matter told Reuters on Tuesday.Two of Qatar's 14 LNG trains and one of its two gas-to-liquids (GTL) facilities were damaged in the strikes, which knocked out 17% of the country's LNG export capacity…
QatarEnergy to restart LNG production and reach current capacity within one month.
QatarEnergy will'resume liquefied gas production very quickly at its Ras Laffan LNG plant.' It could reach full output.within.a month of facilities that were not affected by Iranian strikes. In March, the CEO of QatarEnergy said that two of Qatar's LNG trains, as well as one of its gas-to-liquids facilities, were damaged by the Iranian strikes. This knocked down 17% of Qatar's LNG export capability. Repairs will take many years.
Uniper executive: LNG prices may rise significantly in a volatile market.
John Roper, Uniper's Middle East chief executive, stated on Wednesday that if the supply disruptions and hot weather in Asia coincide with European storage needs, Liquefied Natural Gas (LNG) could be priced higher than they have been during the Iran war. Roper stated that the current supply disruptions are affecting Asian countries excluding China more than Europe. The 'consequences' will last until 2030…
ConocoPhillips is expecting Qatar gas JVs to be delayed by months, not years.
ConocoPhillips’?Europe Gas chief said that any delays in increasing the liquefied gas production capacity of its joint ventures with Qatar will likely be months and not years. The U.S. Energy Group is a Partner in QatarEnergy’s main LNG Project, which includes offshore installations in the North Field, and onshore installations at Ras Laffan. These facilities were damaged by strikes in March, several weeks after Iran?war started.
Qatari LNG Tanker Headed for Pakistan Successfully Crosses Strait of Hormuz
A second Qatari liquefied natural gas tanker successfully went through the Strait of Hormuz on Tuesday, days after the first such cargo crossed under an arrangement involving Iran and Pakistan, highlighting how cargoes are crossing the waterway on a case-by-case basis amid ongoing conflict risks.The vessel, Mihzem, with capacity of 174,000 cubic metres, departed Ras Laffan on Monday and crossed the strait on Tuesday…
The price of gas in Europe has risen after Trump's rejection to the Iranian peace proposal
Dutch and British gas contract prices rose on Monday afternoon, following oil, after the United States rejected Iran’s response to a peace proposal. This ended any hope of an imminent end to the Iran War. Intercontinental Exchange data shows that the benchmark Dutch front-month contract on the TTF hub increased by 5.3%, to 46.47 Euro per megawatt (MWh), by 1436 GMT. The British contract was up 5.7% to 114.28 pence a therm. The U.S.
S&P confirms Qatar's credit rating, expecting'sizable assets' to mitigate Iran War impact
S&P Global Ratings, a credit rating agency, maintained Qatar's sovereign rated at 'AA/A-1+ on Friday. It expects the country's "substantial accumulated fiscal assets and external assets" will help 'cushion' the impact of 'the U.S. - Israel war on 'Iran. The?Iran?war, which has been going on for two months, has caused a disruption in shipments along the world's main oil artery - the?Strait of Hormuz. This is the conduit that carries about 20% of the global supply of oil and LNG.
Rystad estimates that Middle East war damages to energy assets could cost as much as $58 billion.
According to Rystad Energy, the Middle East conflict may cost up to $58 billion to repair energy-related infrastructure. Oil and gas facilities could account for as much as $50 billion. The initial estimate of $25 billion by the research firm three weeks ago has been surpassed, reflecting the broader extent of the damage caused before the ceasefire on April 8, between the U.S. Repair work does not create new capacity.
QatarEnergy Prepares to Restart LNG Production
QatarEnergy is preparing to restart liquefied natural gas (LNG) production, two sources with knowledge of the matter told Reuters on Wednesday.In March, QatarEnergy halted production of LNG and associated products due to military attacks on facilities in Ras Laffan and Mesaieed.The company has restarted two out of three trains at QELNG North 1 (Qatargas-1), one of the sources said. QELNG North 1 is Qatar's first-ever LNG project and is located in Ras Laffan Industrial City.
Shell reduces Q1 production forecast after Qatar disruptions citing conflict with Iran
Shell cut its first-quarter outlook for its integrated gas production on Wednesday to reflect the impact of the 'Middle East conflict' on Qatar. Shell said that its trading results, which include its oil trading desk in its chemicals and products division, will be "significantly" higher than the previous quarter. This is similar to the adjusted earnings of its marketing arm. Brent crude oil prices…
Prices for gas in Europe fall after Trump delays strikes against Iran power plants
The European benchmark contract for gas fell sharply Monday after U.S. President Donald Trump announced he would delay strikes on Iranian energy infrastructure and power plants, saying that a deal could be reached with Iran "within five days or sooner". Intercontinental Exchange data showed that the benchmark Dutch front-month contract at the TTF hub had fallen 4.14 euros to?55.12 per megawatt hour by 1322 GMT.
EUROPE GAS - European prices are rising due to Middle East energy war fears
Dutch and British Gas Contracts rose on Monday morning and are likely to face another volatile trading session, as the Middle East war risks escalating strikes against energy infrastructure. The reopening of Strait of Hormuz is still a long way off. Data from Intercontinental Exchange showed that the benchmark Dutch front-month contracts?at TTF hub were up?3.01 euros at 62.35 euros per megawatt hour (MWh), by 0901 GMT. The British contract was up by 6.3 pence to 157.40 per therm.
Energy Prices Jump After Iran Attacks Qatar LNG Plant
Energy prices surged on Thursday after Iran struck the world’s largest LNG complex, causing damage that Qatar said could take five years to repair, as the energy sector's worst fears about the war launched by the U.S. and Israel on Iran came true.QatarEnergy CEO Saad al-Kaabi told Reuters the state-owned gas company may have to declare force majeure on long-term contracts to Italy, Belgium, South…
Qatar closes down gas liquefaction; restarting will take several weeks, say sources
Qatar declared a 'force majeure' on its gas exports Wednesday, amid the U.S. and Israeli war against Iran. Sources said that it could take at least a month to return to normal production levels. Qatar is supplying 20% of the world's liquefied gas. Two sources familiar with this matter have confirmed that Qatar Energy, the state energy giant, which has stopped producing gas in recent weeks, will completely shut down gas liquefaction by Wednesday.
EUROPE GAS-European Gas Prices soar by more than 40% due to LNG Supply Fears
The benchmark Dutch and British gas price rose by more than 40% in the morning of Tuesday, as fears about supply grew after Iran and Israel intensified their attacks on the Middle East, and Qatar stopped 'production' at its Ras Laffan plant, which is the largest export facility in the world. Europe has been increasing its LNG imports over the last few years to replace Russian gas after Russia invaded Ukraine. It will need to import even more to replenish its rapidly depleting LNG storage.