ConocoPhillips Lands 5 MMty of Offtake, 30% Port Arthur LNG Stake in Sempra Agreement

Sempra Infrastructure has formalized an agreement with ConocoPhillips, giving the independent 5 million metric tons/year (mmty) of offtake and a 30% stake in its planned Texas export project east of Houston. The subsidiary of San Diego-based Sempra disclosed Tuesday that it executed a 20-year sales and purchase agreement (SPA) with ConocoPhillips for supply from Port…

European, Asian Natural Gas Prices Steady on Firm Supplies – LNG Recap

Natural gas prices in Europe and Asia have leveled off amid warmer weather and strong storage stocks in both regions.  In Europe, where inventories are at 94% of capacity, temperatures are expected to remain mild next week, according to Maxar’s Weather Desk.  Above normal temperatures are expected in big gas consuming regions like France, Germany…

November 28, 2022

EU Ministers Fail to Agree on Natural Gas Price Cap Proposal, Further Revisions Likely

European Union (EU) energy ministers failed to reach an agreement on a proposal to cap natural gas prices in Europe at a meeting in Brussels last week. The European Commission (EC) proposed the cap. The EU’s executive branch said it would help the continent cope with rising energy prices inflicted by Russia’s move to cut…

November 28, 2022

Russian LNG Exports Continue to Grow as Kremlin Targets Expansions

Russian LNG exports to Europe are on the rise despite the continent’s efforts to diversify natural gas supplies and impose a series of sanctions against the country for its war in Ukraine. Most of the liquefied natural gas exported from Russia to Europe has been sourced from PAO Novatek’s Yamal LNG facility in the country’s…

November 28, 2022

New Fortress Finalizes Deal with Pemex to Develop Lakach Field, Advance Fast LNG

New Fortress Energy Inc. (NFE) is steaming ahead with another LNG export project in Mexico. The company said it has finalized a deal with Mexican state oil firm Petróleos Mexicanos (Pemex) to develop and operate a natural gas field and a liquefaction project off the coast of Veracruz. The offshore liquefaction plant at the Lakach…

November 23, 2022