NO. 1: A gas leak at the Hammerfest LNG export terminal in Norway that occurred during maintenance has shut the plant down until Friday. The facility, which is operated by Equinor ASA was evacuated Tuesday, and the leak has since been stopped. The cause is under investigation. Hammerfest is Europe’s only large-scale export terminal. It…
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Adnoc Lands Potential Deal for Ruwais LNG Project
The United Arab Emirates’ (UAE) Adnoc has inked its first tentative agreement for a proposed low-carbon LNG terminal with one of China’s largest private energy groups. A unit of ENN Energy Ltd. inked a heads of agreement for 1 million metric ton/year (mmty) in offtake from the Ruwais liquefied natural gas project planned in the…
Adnoc Seeking to Cement Role as ‘LNG Partner of Choice’ with Japex Natural Gas Supply Deal
Adnoc Gas plc has inked a five-year LNG sales and purchase agreement with Japan Petroleum Exploration Co. (Japex) as Abu Dhabi aims to sustain and grow its influence on Asian gas markets. The firms didn’t disclose an annual volume of liquefied natural gas for the contract, but valued the deal at between $450 and $550…
LNG Market Shifting Attention to Summer as Demand Remains Weak Across Asia, Europe – LNG Recap
The LNG market was again muted as the week got underway with hotter weather and restocking demand still in the offing. In Europe, the prompt Title Transfer Facility (TTF) gained just a penny in a quiet day of trading amid labor holidays across the continent. The June contract gave up 4% last week to finish…
India’s Gail Exploring Equity Stake in U.S. LNG Project – The Offtake
A roundup of news and commentary from NGI’s LNG Insight Gail Ltd., India’s largest natural gas company, issued an expression of interest this week to take an equity stake in a U.S. LNG export project that is either currently operating or under development. The company is exploring taking up to a 26% stake in a…
Energy Transfer Behind on Lake Charles LNG Contracting – The Offtake
Energy Transfer LP management said it is “disappointed” in the pace of contracting activity for its Lake Charles LNG project. Slow progress signing up project offtakers has delayed a final investment decision, Co-CEO Marshall McCrea said Thursday during a call to discuss 2022 earnings results. The company has signed agreements to supply 8 million metric…
Adnoc Natural Gas, LNG IPO Seen as ‘Highly Feasible’ Amid Broader Expansion Plans
Abu Dhabi National Oil Co. (Adnoc) is advancing plans to launch an initial public offering (IPO) that would combine the United Arab Emirates’ (UAE) largest natural gas companies as part of a broader plan aimed at attracting more foreign investors and funding for long-term projects. “Natural gas will be a critical fuel in the energy…
Adnoc Consolidates Natural Gas, LNG Units as Part of $150 Billion Growth Plan
The United Arab Emirates’ Abu Dhabi National Oil Co. (Adnoc), is planning to combine its natural gas processing and LNG units into one partially public company as a part of its plans to modernize its structure and boost production. Dubbed Adnoc Gas, the new entity would incorporate all of the group’s gas processing operations and…
Germany Secures LNG Supply from UAE, Possible First Cargo by December
German utility RWE AG has secured another LNG supply source in an agreement with Abu Dhabi National Oil Company (ADNOC) that could bring additional cargoes to Germany’s developing import terminals as soon as December. RWE and the United Arab Emirates’ (UAE) state-owned ADNOC agreed to a multi-year supply contract for liquefied natural gas starting in…
UAE Plans to Double LNG Exports in Oil, Natural Gas Expansion
The United Arab Emirates’ (UAE) plans to build a second LNG export facility and become a regional exporter are gaining momentum as European leaders recently visited the Middle East to discuss replacing Russian energy imports. The proposed two train 9.5 million metric tons/year (mmty) project is to be located at the busy oil port of…