Asia

As the invasion of Ukraine fuels record prices for U.S. liquefied natural gas (LNG), Sempra plans to hold steady on prioritizing long-term contracts and equity partnerships, which management said have become more important during the conflict. The Sempra Infrastructure Partners subsidiary of the San Diego-based energy company has a hefty list of proposed and sanctioned…

Cheniere Energy Inc. said Wednesday the amount of liquefied natural gas (LNG) it produced for delivery to Europe surged during the first quarter in a trend management expects to continue as the continent looks to diversify its supplies in a pivot from Russia.  Chief Commercial Officer Anatol Feygin said Cheniere-produced cargoes supplied more of the…

European natural gas prices bounced back on Tuesday as the market appeared torn between steadily increasing liquefied natural gas (LNG) imports and the possibility of further disruptions to Russian supplies.  Russia cut off natural gas exports to Poland and Bulgaria for the countries’ refusal to comply with the Kremlin’s decree requiring European buyers to change…

Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. As part of its effort to displace Russian gas, the Biden administration has committed to sending an additional 15 Bcm of liquefied…

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…

U.S. natural gas prices rebounded Monday and were set to maintain momentum as benchmarks in Asia and Europe continued to cool.  “Daily demand is set to rise mid-week, adding as much as 5.5 Bcf/d by Wednesday and coinciding with the May contract rollover,” said EBW Analytics Group analyst Eli Rubin of the Henry Hub contract. …

Korea Gas Corp., aka Kogas, said Friday that it has signed a long-term contract to buy U.S. liquefied natural gas (LNG) from an affiliate of BP plc.  The company agreed to purchase 1.58 million tons (Mt) annually from BP Singapore Pte. Ltd. for an 18-year term at prices linked to Henry Hub. Kogas is one…

Liquefied natural gas (LNG) demand across Asia has weakened considerably in recent weeks, dragging down forecasts for global consumption this year and leaving less competition for European buyers eager to displace Russian energy supplies. “We are entering into negative territory,” said analyst Gergely Molnar of the International Energy Agency (IEA). The global energy watchdog expects…

U.S. oil production for the week ended April 15 climbed to 11.9 million b/d, setting a new highpoint for the year, the U.S. Energy Information Administration (EIA) said Wednesday. That marked a 100,000 b/d increase from the prior week and a notable bump from the level maintained through much of the first quarter, EIA’s latest…