Australia

Jera Co. Inc., one of the world’s largest LNG buyers, has secured a 15.1% stake in Woodside Energy Group Ltd.’s Scarborough project as it continues to look for stable long-term supply for Japanese power production. Under the transaction, valued at $1.4 billion, Jera would obtain a non-operating interest in the Scarborough partnership and offtake an…

Santos Ltd. and Woodside Energy Group Ltd. have decided not to pursue merger talks that could have created an Australian LNG super giant reportedly worth $52 billion. Both firms disclosed Wednesday that months-long talks had ended without a mutually beneficial deal. Combined, the companies control more than 40 million metric tons/year (mmty) of liquefied natural…

Australia’s two largest energy companies confirmed Thursday that they’re in preliminary discussions to explore merging in a deal that could create one of the world’s leading LNG exporters.  Woodside Energy Group Ltd. and Santos Ltd. cautioned, however, that the discussions are in very advanced stages, but no deal is close to being reached. Both companies…

Woodside is further diversifying its LNG portfolio with more U.S.-sourced gas from a new supply agreement with Mexico Pacific Ltd. (MPL), tallying another major offtaker for the proposed Mexican terminal. Woodside has inked a 20-year, 1.3 million metric ton/year (mmty) sales and purchase agreement (SPA) for offtake from the Saguaro Energia LNG terminal on a…

Australia’s domestic natural gas shortages on the largely populated east coast are helping fuel demand for four LNG import projects, placing one of the world’s largest gas exporters on track to become an importer by 2026. As fields that have typically fed domestic markets continue to decline, the supply outlook for Australia’s east coast declined.…

The Panama Canal Authority said this week that it would reduce the number of vessels that can transit the waterway from 32 to 25 on Nov. 3. Daily transits would be further cut to 24 on Nov. 8, 22 on Dec. 1, 20 on Jan. 1 and 18 on Feb. 1.

Natural gas futures rallied for a fifth straight session Monday, powered by a tightening domestic market and global supply worries spawned by threats of an LNG worker strike and the sudden eruption of war in the Middle East, a key energy producing region. At A Glance: Front month gains 3.8 cents Global supply threats intensify…

Australia’s competition watchdog expects a slight natural gas supply surplus for domestic markets early next year, but the supply balance remains tight as LNG exports from the East Coast are expected to rise. In the Australian Competition & Consumer Commission’s (ACCC) outlook for 1Q2024, researchers reported the east coast gas market should have a 1.4…

Chevron Corp. disclosed it has agreed to the terms of a deal with union workers at its Australia LNG facilities that was brokered by the country’s Fair Work Commission (FWC). Union workers at Chevron’s Gorgon and Wheatstone liquefied natural gas facilities in Western Australia have been escalating tactics since labor action started earlier this month,…