QatarEnergy Purchases Long-Term LNG Supplies In Case of Future Hormuz Disruptions
QatarEnergy is buying long-term supplies of liquefied natural gas from the US and other producers as part of a trading strategy designed to generate revenue if exports through the Strait of Hormuz are disrupted in the future, CEO Saad Sherida Al-Kaabi told Reuters on Thursday."In a scenario where you have a closure of the strait, which is the true contingency that we're looking to have, you'd immediately see a spike in gas price and you'll be able to generate revenue for QatarEnergy that otherwise wouldn't be generated…
Golden Pass LNG is offline following a near-halt in gas intake according to LSEG data
Golden Pass LNG is a joint venture 'between QatarEnergy & ExxonMobil. It has taken little or no natural gas... over the.past.three.days. And it appears to be offline. Since March 30, the Texas-based export facility is commissioning its first of three LNG trains, with multiple start-and stop periods to test and fine-tune equipment. Golden Pass will be able to process up to 2.6 billion cubic feet of natural gas each day and export more than 18 millions metric tons of liquefied gas annually.
Golden Pass reports that the first LNG cargo has left Sabine Pass Terminal
Golden Pass LNG is a joint venture of QatarEnergy, Exxon Mobil and U.S. Oil Major Exxon Mobil. It announced on Wednesday that the first cargo?of liquefied gas had departed its new Sabine Pass Terminal in Texas. The first shipment of LNG was not known at the time. It was reported that the first shipment would be destined for Italy in order to'make up' for the LNG QatarEnergy could not deliver due to the U.S. Israel war against Iran. In a press release, Alex Savva said that Golden Pass is proud to announce the start of supplying reliable U.S.
Golden Pass, a joint venture between ExxonMobil and QatarEnergy, produces the first LNG in a new Texas facility
Golden Pass 'LNG, a joint-venture between QatarEnergy and Exxon Mobil has produced its first liquefied gas at its Texas facility, the company announced on Monday. This is a significant step towards bringing online one of the biggest U.S. Export projects. The launch comes as global gas supplies are tightening after the U.S.-Israel-Iran war pushed up energy prices and caused disruptions in Qatar's production, which is one of the largest LNG suppliers. In a press release, Alex Savva said, "Today we began producing LNG at our terminal in Sabine Pass.
EUROPE GAS-Dutch prices fall tracking U.S. futures
Dutch wholesale gas prices fell on Wednesday morning, as U.S. Natural Gas Futures fell. Demand and supply forecasts in north-west Europe were stable. LSEG data revealed that the benchmark European gas contract - the front-month Dutch contract on TTF hub - was?down 1.67 euros to 37.95 euros for a megawatt hour (MWh), which is $11.03/mmBtu, at 0908 GMT. The contract for March fell by 1,54 euros, to 36.26 Euro/MWh. Prices continued to decline after Tuesday's partial recovery of feedgas for the Sabine Pass terminal (LNG). This was after the drop in U.S. Natural Gas Futures.
US LNG exports record second consecutive month
According to preliminary data, U.S. exports of LNG reached a new record in September, surpassing their previous record set in August at 9.3 million MT. According to LSEG, the increase was fueled primarily by sales to Europe, Asia and other parts of the world. This occurred despite unexpected shutdowns at Cheniere Energy’s Sabine Pass facility in Texas and a planned maintenance at Berkshire Hathaway’s Cove Point Plant. The U.S. exports the most LNG in the world, and its level can have a significant impact on global markets. Europe continues to be the top destination for U.S.
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 of the superchilled gas.Tokyo Gas is negotiating the purchase of LNG from Venture Global on a 20-year contract, two of the three people told Reuters.
US Natural Gas Prices Drop 4% on Record Output
U.S. natural gas futures fell about 4% to a nine-month low on Tuesday on near-record output, ample fuel in stockpiles and forecasts for less hot weather and lower demand through early September than previously expected.Another factor weighing on gas prices was a decline in the amount of gas flowing to liquefied natural gas export plants due to small reductions at several facilities.Front-month gas futures for September delivery on the New York Mercantile Exchange fell 10.8 cents…
Demand at Two Top US LNG Plants Declines
Two of the United States' largest liquefied natural gas export plants recorded major declines in demand for natural gas on Monday, suggesting parts of their facilities might be down, according to data from financial firm LSEG.Cheniere's Sabine Pass export facility in Texas, which utilizes up to 4.5 billion cubic feet of natural gas per day, was down to 3.7 bcf, and Sempra's Cameron LNG plant in Louisiana, which processes 2 bcfd, was down to 1.3 bcf, according to LSEG data.Cheniere declined to comment…
Exxon-QatarEnergy JV requests permission from US regulators to reexport LNG starting October 1.
Golden Pass LNG, owned by Exxon Mobil, QatarEnergy and others, has requested permission from U.S. regulators to re-export Liquefied Natural Gas as of October 1. This is because the export facility, after delays, is nearing production. The company wants to reexport LNG cargos that it intends to import in order to cool down the export plant, still under construction, in Texas. The cooling down of the plant is usually the last step before LNG production. Golden Pass plans to export LNG by the end of this year after building a 18 million metric tonnes per annum (mtpa)…
US LNG Exports Fall in June Amidst Maintenance
U.S. liquefied natural gas exports fell to their second lowest monthly level for the year in June, as maintenance work at some of the country's largest export facilities hurt output, according to preliminary data from financial firm LSEG.The United States, the world's top exporter of LNG, sold 8.4 million metric tons of the superchilled gas during the month, down from 8.9 MT in May and well below April's record of 9.3 MT, LSEG data showed.The reduction in LNG exports was primarily due to seasonal maintenance…
US Natural Gas Prices Fall 6% in Volatile Contract Expiration Trade
U.S. natural gas futures fell about 6% on Wednesday to a one-week low in volatile contract expiration trade, pressured by an expected decline in gas flows to liquefied natural gas (LNG) export plants.Traders said Freeport LNG in Texas might reduce output and they pointed to forecasts for less demand this week than previously expected.On its last day as the front-month, gas futures for June delivery on the New York Mercantile Exchange (NYMEX) fell 19.4 cents, or 5.7%…
Cheniere Energy Enters Natural Gas Deal with Canadian Natural Resources
U.S. LNG exporter Cheniere Energy said on Wednesday its unit has entered into a long-term agreement to purchase natural gas from Canadian Natural Resources.WHY IS IT IMPORTANTThe U.S. is the world's largest exporter of liquefied natural gas and had shipped 11.9 billion cubic feet per day of the supercooled fuel in 2024.Commercial activity in the sector has gained further momentum after U.S.
Indian gas firm GAIL seeks 26% stake in US LNG
GAIL India Ltd. issued a tender Friday for a maximum 26% stake in an American liquefied gas project, along with a 15 year gas import agreement. This will help New Delhi to reduce its trade surplus. India is racing to be the first country to sign a deal with the United States after President Donald Trump announced sweeping tariffs. This has led to a trade conflict with China, and other countries are now trying to negotiate. Trump has made it clear that he views U.S. gasoline as a bargaining tool.
Indian oil companies are in talks with U.S. LNG suppliers to purchase their supplies
Pankaj Jain, the Oil Secretary of India, said that Indian oil companies were looking to purchase U.S. LNG. This was boosted by Trump's administration lifting its ban on new export permits. India, the world's fourth-largest LNG importer, aims to increase its gas share in its energy mix from 6.2% to 15% by 2030. Jain stated that Indian oil companies were in talks with U.S. firms to source additional LNG. Among these companies, he said, were GAIL (India) Ltd., Indian Oil Corp. and Bharat Petrol Corp.
Golden Pass LNG, a former contractor, will emerge from bankruptcy at the end of March
The Texas contractor who last year walked away from the Golden Pass project of a liquefied gas plant, a joint venture with Exxon Mobil and QatarEnergy, may be able to exit Chapter 11 bankruptcy by April, according to the company. Zachry Holdings announced that the U.S. Bankruptcy Court of the Southern District of Texas approved its reorganization plans on Friday, clearing the way for them to complete the process by the end of the month. The court scheduled a confirmation hearing for the 26th of February.
Golden Pass LNG, a former contractor, will emerge from bankruptcy in April
The Texas contractor who last year walked away from the Golden Pass project of a liquefied gas plant, a joint venture with Exxon Mobil and QatarEnergy, may be able to exit Chapter 11 bankruptcy by April, according to the company. Zachry Holdings announced that the U.S. Bankruptcy Court of the Southern District of Texas approved its reorganization plans on Friday, clearing the way for them to complete the process by the end of the month. The court scheduled a confirmation hearing for the 26th of February.
Trump lifts the freeze on LNG export permits
The U.S. President Donald Trump ordered on Monday that the U.S. resume processing applications for export permits for new liquefied gas (LNG). This is part of his effort to increase U.S. energy production and to dismantle climate policies from his predecessor. The Republican executive order was expected and reverses the pause that Joe Biden, former president, had put in place for permits to be issued for new projects in early 2024. Biden, a Democrat from the United States, halted the approvals to allow U.S.
Six US LNG cargoes diverted to Europe by LNG traders
Analysts and shipping data indicate that traders diverted six cargoes of LNG bound for Asia into Europe in the first half of this month due to higher European prices, and weaker Asian demand. Weather forecasts indicate lower temperatures for northwest Europe. Data from analytics firm Kpler revealed that the vessels were loaded in America and initially headed for China, South Korea Thailand and Singapore. Between Jan. 8-14, the vessels changed course in the Atlantic Ocean and were destined for Europe.
Venture Global Louisiana Plaquemines LNG Plant "on track"
U.S. liquefied natural gas (LNG) company Venture Global LNG's Plaquemines export plant under construction in Louisiana was on track to pull in enough natural gas on Friday to produce first LNG, according to data from financial group LSEG and energy analysts.Plaquemines was on track to pull in about 0.16 billion cubic feet per day (bcfd) of pipeline gas on Friday, up from 0.10 bcfd on Thursday and an average of 0.04 bcfd during the prior seven days, according to LSEG data.Analysts have said that once feedgas to the plant hits around 0.15 bcfd or higher…