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. Golden Pass, once fully operational, will be able to?produce 18 million metric tonnes per year.
Gas industry in Spain calls for better remuneration proposals
Sedigas, the Spanish gas industry's body, called on Monday for "significant" alterations to proposed remuneration regulations for gas-related businesses through 2032. They emphasized the need to ensure "a reasonable and sufficient remuneration structure". The energy and competition watchdog CNMC in the country released two sets of proposals late Thursday: one for remuneration rules of gas-related businesses through 2032, and another?for distribution operations. The first affects primarily grid operator Enagas which manages the country’s trunk gas network. The second is for companies that operate local distribution 'grids' such as Naturgy.
Shell warns Australia about taxing LNG windfall profit
Shell has warned Australia not to introduce a windfall charge on gas exporters. It said that such a tax would 'deter investment' and 'undermine energy security, as LNG prices are surging following the disruption of global supplies due to the Iran War. The conflict in the Middle East has caused the supply of LNG to drop, and Australia is now the second largest LNG supplier. Its export revenues are expected to increase due to the lower supply. Canberra is said to be weighing up options to capitalize on the higher prices. Prime Minister Anthony Albanese has asked the Treasury Department to model a tax on LNG exports and to suggest reforms to Petroleum Resources Rent Tax.
Egypt and Cyprus Sign Framework Agreement for Cooperation on Gas
On Monday, Egypt and Cyprus signed a framework for?cooperation in gas during the Egypt 2026?Energy?Show. A spokesperson for the Cypriot Presidency said that the nonbinding agreement would be the basis on which the two countries could negotiate further agreements to exploit Cyprus' reserves. A Cypriot official said that the agreement would allow Egypt and Egypt's state-owned firms to purchase natural gas from Cyprus's offshore Kronos and Aphrodite fields. Cypriot officials claim that they may be able to begin extracting gas from Kronos in 2027 or 2028.
Egypt's Sisi warns that oil prices could reach $200 and says that only Trump can end war.
Abdel Fattah al-Sisi, Egypt's president, called on U.S. President Donald Trump to end the Iran War, saying that only he was capable of doing so. He also warned that fears about the oil price going above $200 per barrel were not exaggerated. Sisi told President Trump that he alone could stop the Gulf War in our region. "Please, Mr. President, please. Please help us end the war. "You are capable of it," he said. Egypt, which has long received military assistance from the United States and financial support from wealthy Gulf states, has also condemned Iranian attacks against Gulf Arab countries and encouraged diplomatic efforts to prevent a regional war.
Minister says India is boosting its renewable energy efforts amid disruptions in gas supplies
India's junior energy minister stated that the U.S. and Israel?war on Iran? has led to a "gas shortage". Gas accounts for just 2% of India’s total electricity generation. However, during heatwaves or peak demand periods the country consumes about 8 gigawatts (GW) of power from gas. The Middle East Crisis has caused a volatility in the price and availability of natural gas. The generators are looking for alternative sources, Shripad Naik, the junior power minister of India said. He said that the country also closely monitors the progress of coal and hydro plants, which are currently under construction. They are expected to be completed by June 2026.
Vucic: Serbia has signed a gas import agreement with Russia
Aleksandar Vucic, President of the Balkan nation, said that Serbia has secured three more months' worth of gas imports from Russia after talks with Russian leader Vladimir Putin. The cheaper imports of Russian natural gas?cover?up to 90%?of Serbia's need, although Belgrade has tried to diversify its supply by importing gas from Azerbaijan as well as liquefied gas from terminals located in Greece. Vucic stated that he spoke with Putin by phone on Monday. The two discussed bilateral relations, economic cooperation and global developments. He said that the extension maintained current volume and price conditions. "We... pay between $320 to $330 (per 1000 cubic meters).
Oil rally fails to boost drilling as services firms are squeezed
Oilfield services firms around the world are bracing themselves for a 'hit to their earnings, as the Iran War disrupts energy infrastructure in the Middle East. Producers will hold off on new drilling until the higher oil prices have been proven durable. Brent benchmark prices are up 53% from February 27, the day before U.S. and Israel began their strikes against Iran. This makes oil and gas projects much more profitable and increases demand for crews and rigs. However, the Iran War has seen a drop in activity and a reduction in demand for oilfield equipment and services. Igor Isaev is the head of analytical services at European broker Mind Money.
EUROPE GAS-European Gas prices rise as supply risks offset lower demand
The benchmark Dutch and British gas prices climbed a little higher on Monday, after the Yemeni Houthis launched their first attack on Israel at the weekend. This increased the U.S. - Israel war with Iran and raised fears of supply disruptions. ICE data shows that the benchmark Dutch front-month contracts at TTF hub were up 1.183 euro at 55.36 Euros per megawatt hour or around $18.65 /mmBtu by 0810 GMT. ICE data showed that the British April?contract rose 3.61 pence to 139.76 cents per therm. Around a fifth (or more) of the world’s LNG transits the Strait?of Hormuz. However, shipping has been at a standstill through the narrow strait since?the U.S.
Prime Minister says that the economics of New Zealand’s LNG terminal must be solid to give it approval.
New Zealand's plans to build a terminal for liquefied gas imports are in doubt. Prime Minister Christopher Luxon said on Monday that the government would only approve the project "if the business case was strong". The?government?selected contractors in February to build the facility at Taranaki on the North Island of the country. The terminal was to be ready for LNG by 2027 or 2028. The project was announced by the government in 2025 as a way to improve energy security for the country and reduce costs. Luxon said to Radio New Zealand on Monday that while the government is still at the procurement stage…
Chevron estimates repairs at Wheatstone gas plant will take weeks
The company stated on Sunday that it is likely to take several weeks for the Wheatstone Liquefied Natural Gas facility in Western Australia to fully resume production as they repair damage caused by the cyclone last week. The Australian LNG supply was disrupted by Cyclone Narelle, a disruption of more than 30,000,000 metric tons per annum. Saul Kavonic, MST Marquee analyst, said on Friday that the Middle East conflict and the cyclone Narelle have combined to disrupt more than a quarter of global LNG supply. In an email, a Chevron Australia spokesperson said that damage assessments are still ongoing at the Wheatstone onshore plant and the Wheatstone offshore platform.
PetroChina's net profit for 2025 drops 4.5% due to lower oil prices
PetroChina, Asia's biggest oil and gas producer said on Sunday that its 2025 net annual?profit fell 4.5% from the record set in 2024 as lower oil prices affected earnings. PetroChina reported in a filing with the Shanghai Stock Exchange that its net income was 157.3 billion yuan (22.76 billion dollars) in 2018, compared to 164.7 billion yuan (2024), while revenue fell 2.5% to 2,864.5 billion yuan. CNOOC Ltd, a domestic peer, reported a 11.5% drop in net profits to 122.08 bn yuan on Thursday. Earnings at the refining giant Sinopec dropped 37% to $31.8 bn yuan. PetroChina produced 948 million barrels of crude last year or 2.6 millions barrels per day.
Australia LNG continues to disrupt after Narelle Thousands without power
Australia's liquefied gas production remains disrupted, and thousands of people in the remote north were left without electricity on Sunday. This is more than a fortnight after the Narelle Storm System hit the country. The impact of the 'Narelle', which was downgraded to a tropical cyclone on Saturday, has been exacerbated by a global LNG shortage caused by a month-old Iran War. Qatar's production was halted after Iranian attacks damaged its facilities, and Australia became the second largest LNG exporter in the world. Narelle, a severe tropical storm, made landfall in Queensland on March 20. It then crossed the Northern Territory and hit Western Australia.
Australia LNG continues to disrupt after Narelle, thousands of people without power
On 'Sunday', Australia's liquefied gas production was still disrupted. Thousands of people in the remote north were without power for more than a month after the Narelle Storm System?hit Australia. The impact of?Narelle, which was downgraded to a?tropical storm on Saturday, has been exacerbated by a global LNG supply crisis caused by the Iran War, which is now a month old. Qatar's production was halted after Iranian attacks damaged its facilities, and Australia became the second largest LNG exporter in the world. Woodside Australia said on Sunday that there was no new information.
Russian drones damage infrastructure, including a maternity hospital and key infrastructure in Ukraine.
Ukraine's officials said that Russia had launched waves of drone attacks against Ukraine. The attack resulted in the deaths of four people, and damage to gas production facilities, port infrastructures, residential buildings, and a maternity ward. The Ukrainian air force reported that Russian troops had launched 273 drones. They also said the southern Odesa area was the main focus of the attacks. The Russian President Volodymyr Zelenskiy stated that more than 60 drones have been used in the Russian attacks on Odesa. Oleh Kiper is the regional governor. He said that two people died and 12 others, including a child were injured in the Odesa attacks.
Narelle continues to disrupt Australia LNG despite its weakening from tropical cyclone
Ex-Tropical cyclone Narelle, which has been affecting Australia's Queensland state and Northern Territory since March 20, further affected production at two of Australia’s largest liquefied natural gas plants. The storm system was waning in the country's northwestern region. Narelle, which has been sweeping across Australia's Queensland and Northern Territory state since it made landfall on March 20 as a Category 4 tropical cyclone, hit Western Australia on Friday, affecting LNG plant run by Woodside and Chevron. The impact of the storm on LNG plants has increased a global shortage caused by the Iran War.
Narelle continues to disrupt Australia LNG despite its weakening from tropical cyclone
Narelle, the former tropical storm that weakened in Australia's north-west, continued to disrupt production at two of Australia’s largest liquefied?gas plants Saturday. Narelle, the category four tropical storm that has been ravaging Australia's Queensland and Northern Territory ever since it made landfall on?March 20th, hit Western Australia Thursday. It affected LNG plants operated by Chevron, Woodside, and others. The impact of the storm exacerbated an existing global supply crisis caused by the Iran War. A spokesperson for Chevron Australia…
Canada's Minister of International Trade says that the EU and CPTPP have agreed to move forward with a "historic" digital deal.
Canada's Trade Minister said that the European Union and parties to the Comprehensive and Progressive Agreement of Trans-Pacific Partnership (CPTPP) agreed to move forward on Friday with a "historical" digital trade deal between the two trading blocs. Maninder Sidhu is Canada's Minister for International Trade. On Friday, the EU and CPTPP parties - which includes 12 countries including Japan, Britain, Canada Mexico, Australia, Malaysia, - met in Cameroon, on the sidelines of the WTO Ministerial Conference. If this happens, which we hope it will, then this will be historical. Sidhu stated that it will be the biggest trading agreement of civilization.
Oil and gas exploration is back. Energy giants are hunting to replenish reserves
Executives at the CERAWeek Conference in Houston, Texas, this week declared that global energy companies have returned to the basics, focusing their efforts on finding?new oil and gas sources. This marks the end of years of underinvestment. The'shale revolution' in the U.S. in recent years promised a flexible, abundant supply. However, growth in renewable energy sources like wind and sun raised doubts over long-term demand for oil. Oil and gas drillers have chosen to 'flood profits into dividends and stock buybacks rather than exploration. Production?in the Permian Basin of the U.S. will plateau as energy demand continues to grow.
The Russian government has announced that the ban on gasoline imports will be implemented from April 1.
The Russian government reported that Alexander Novak, the Deputy Prime Minister of Russia, had instructed his energy ministry on Friday to draft a resolution banning gasoline exports as of April 1, 2019. The state-run TASS reported earlier that the ban will remain in effect until July 31. Novak stated that the turmoil on 'the global oil market and its products, which is caused by a crisis in the Middle East has led to significant price changes. He also said that the demand for Russian energy resources on foreign markets is high. The government stated that the processing of crude oil remains at the same level as last year, which ensures a stable supply.