Canada exports first LNG cargo from Pacific Coast
A spokesperson for Shell-led LNG Canada confirmed on Monday that Canada's first LNG export cargo was shipped from its Pacific Coast to Asia. The cargo was loaded on the tanker Gaslog Glasgow at LNG Canada's Kitimat site, British Columbia. This happened just over a weeks after the facility had confirmed its first production. It became the first large commercial LNG operation of the country.
Canada Produces First LNG For Export
The Shell-led Canada facility has produced its first liquefied natural gas for export in Kitimat, British Columbia, a spokesperson for the project confirmed on Sunday.The new production, which will go mainly to Asia, comes amid concerns over disruptions to the 20% of global gas supply coming from Qatar, due to the Israel-Iran conflict and the possibility of Tehran closing the Strait of Hormuz…
LNG Canada produces first liquefied natural gas for export
A Shell-led LNG Canada facility in Kitimat has produced the first liquefied gas for export, confirmed a project spokesperson on Sunday. This milestone is in anticipation of LNG Canada loading its first LNG cargo at the facility, which it said will be done by the middle this year. It is also the first major LNG plant in North America to have direct access to the Pacific Coast, thereby reducing the sailing time to Asian markets compared to U.S.
JERA Chief says company must sign new LNG contracts because old ones have expired
As older contracts expire, the head of JERA (Japan's largest power generator) said that JERA needs to sign new deals to purchase liquefied gas in order to meet Japanese demand for power. "Power demand is not decreasing in Japan now... but our contracts are going to expire one by one." We need to close the gap simply by signing new contracts," Yukio KANI, global CEO and chairman of JERA said at the Energy Asia Conference.
Glenfarne’s Alaska LNG project receives interest of $115 billion from more than 50 firms
Energy developer Glenfarne announced on Tuesday that Glenfarne Alaska LNG has completed its first round of strategic partner selection with more than 50 companies who have expressed formal interest in over $115 billion contract value of the Alaska LNG project. According to the Alaska LNG project document, if built, it will export up 20 million metric tonnes per annum supercooled gas. This would allow U.S.
Freepoint Commodities sued by ex-analyst for alleged pressure to facilitate insider trade
Former senior analyst of U.S. trading firm Freepoint Commodities, a former senior analyst has filed a lawsuit against the company. He claims that top executives pressed employees to facilitate insider trades and that they retaliated on employees who objected. Former employee Andrew Martin filed a lawsuit in New York Federal Court on May 14, claiming that Freepoint terminated…
US regulators approve construction of Venture Global CP2 liquefied natural gas plant in Louisiana
A document published by the FERC on Friday showed that US regulators had given Venture Global permission for construction to begin at its CP2 Liquefied Natural Gas plant in Louisiana. If built, CP2 would be the largest LNG export facility to the U.S. It will also help the U.S. remain the largest exporter in the world of supercooled gas. Venture Global could become the largest U.S. company for LNG.
US Regulators Recommend That Venture Global's CP2 LNG Project Gets Greenlight
U.S. federal regulators recommended in a final environmental report that Venture Global's proposed CP2 liquefied natural gas export project in Louisiana get the go-ahead, according to a government document filed on Friday.If constructed, CP2 will be the single largest LNG export facility in the U.S. and help the country remain the world's largest exporter of the superchilled…
Agency says there are undiscovered oil and natural gas reserves in the US Gulf Coast.
The U.S. Geological Survey released a report on Wednesday that outlined the potential for undiscovered oil in two formations beneath much of the U.S. Gulf Coast, from Texas to Florida. The Hosston formation and the Travis Peak formations have a total of 28 million barrels and 35,8 trillion cubic feet (or natural gas) of technically recoverable reserves. In a recent note…
Industry leaders claim that despite volatility, US Gulf oil production could reach 2.4 millions bpd.
Leaders in the oil and gas sector said that the U.S. Gulf of Mexico could continue to grow oil production despite geopolitical instability not seen for decades. Since last month, U.S. President Donald Trump’s global tariff announcements contributed to a drop in oil prices, and fears of a recession, making it harder for oil producers who follow his "drill baby, drill" call.
Prices for gas in Europe are stable despite a healthy supply
The Dutch and British wholesale prices of gas were not much different on Thursday morning due to a healthy supply. According to LSEG, the benchmark Dutch front-month contract rose 0.17 euros to 34.30 euro per megawatt hour. The June contract, however, was 0.18 euros higher at 34.33 euro/MWh. The British day-ahead contracts was up 0.40 penny at 84.00 cents per therm.
BP discovers oil off US Gulf Coast
BP announced on Monday that it had made an oil find at the Far South Field in the U.S. Gulf of Mexico. The energy giant is seeking to increase production as part of a new strategy, which was announced earlier this summer. Green Canyon Block 584 is located about 120 miles (203.12 km) from the coast of Louisiana. The initial well as well as a sidetrack both encountered oil.
Bloomberg News reports that Trump will approve Venture Global LNG exports to Louisiana from the project.
Bloomberg News reported that the U.S. administration of President Donald Trump is expected to grant Venture Global LNG conditional permission to export natural gases from a proposed Louisiana plant, which was delayed under former president Joe Biden. A person with knowledge of the situation said that the Energy Department will authorize large-scale exports from CP2's project by the company as early as Wednesday.
CERAWEEK - Mexico's Pemex prioritises refining while diverting heavy oil from the Gulf
Margarita Perez of PMI, Mexico's company that handles trading, said Tuesday that Pemex, Mexico's state-owned oil company, expects to divert barrels of heavy crude from U.S. Gulf Coast refining companies as it ramps up its Olmeca refinery. Pemex began prioritizing refining in favor of its traditional export markets around six years ago, when the previous Mexican government sought to increase domestic supplies…
The cold weather in the US boosts diesel prices, but masks economic challenges
Since the beginning of the year, the cold temperatures in the Northeast U.S. have led to an increase in demand for heating oil. This has helped to offset the slowdown in recent years due to reduced industrial activity. The Energy Information Administration (EIA), according to its data, reported that the U.S. inventory of distillate fuels - including diesel and heating oil - fell this month to its lowest seasonal level in 2014.
Japan's JERA is seeing increased competition for US LNG from Asia and Europe
JERA, Japan's largest power generator, expects the competition for U.S. LNG to grow as Asia and Europe increase their demand. There are many buyers. Asian and European buyers really want U.S. Energy. There are many competitors," JERA Asia's CEO Izumi Ka told the India Energy Week Conference on the sidelines. After the Trump administration lifted the moratorium in January on new LNG export permits, companies in the U.S.
Minister says Canada's Alberta is looking to Japan for new LNG contracts amid US tariff threats
Rebecca Schulz is the minister for environment and protected areas in Canada's Alberta, which is a major producer of gas. She said that expanding into Japan was an important goal in light of a U.S. Tariff threat. Schulz, in an interview with a Japanese journalist in Tokyo on Wednesday evening, said: "The United States is a good example of why we need to diversify the markets we export to.
Goldman Sachs raises US gas price forecast amid colder winter
Goldman Sachs raised its forecast of U.S. Natural Gas prices from $3.00 per million British Thermal Units (MMBtu), to $3.60 for 2025. This is due to tighter gas balances in this winter, as a result of colder than average temperatures. The bank stated that "there is no need for $4 gasoline just yet". The investment bank stated in a note that it expects a more moderate downward revision of our storage expectations for end-October 2025…
European gasoline glut affects global margins
As a result, gasoline stocks in Europe reached a record-high as exports fell due to increased refinery runs in Nigeria and the United States. This led to the profit margins for European and U.S. refineries to fall to a 15 month low in January. Gasoline profit margins usually fall in the winter due to lower seasonal demand. However, the magnitude of the drop is a major blow for refiners who are now facing low margins on petrochemicals.
Canadian, WTI Crude Prices to Asia Jump
Prices of Canadian and U.S. West Texas Intermediate crude oil to Asia jumped after shipping costs rallied on concerns that wider U.S. sanctions on the Russian fleet are tightening ship availability, trade sources said on Tuesday.Asian refiners face a margin squeeze as their costs of crude and shipping have spiked since Washington earlier this month imposed sweeping new sanctions targeting Russian insurers…
