Tellurian Inc. on Monday said it is feeling the squeeze of a global natural gas glut and has announced a cut in corporate spending as it works to sanction a massive liquefied natural gas (LNG) export terminal in Louisiana.
Articles from Coronavirus
The global natural gas and oil industry, already reeling from a lack of demand and low commodity prices, is now taking a hit on the conference schedule because of the spreading coronavirus, with IHS Markit announcing Sunday it is canceling CERAWeek, the premier energy conference that draws thousands to Houston every year.
Still seeking the commitments it will need to reach a final investment decision (FID) on its proposed Driftwood liquefied natural gas (LNG) export project, Tellurian Inc. said it has extended negotiations with prospective buyer Petronet LNG Limited of India.
As the market prepares to exit a decidedly underwhelming winter, Goldman Sachs Commodities Research analysts are slashing their 2020 natural gas price forecast from $2.50/MMBtu to $2.20.
Oil futures and stock markets fell sharply Monday as reports of new cases of the coronavirus outside of China raised fears over the potential impacts of the outbreak on global economic activity.
The coronavirus reasserted its influence over the Lower 48 oil price outlook Monday as reports of new cases of the disease outside of China stoked fears both at home and abroad over the outbreak’s impact on global economic activity.
Tellurian Inc. said Monday that its massive Driftwood LNG export project proposed for Louisiana is “shovel ready,” with construction targeted to start this year.
The coronavirus has upended the global liquefied natural gas (LNG) market, driving up freight rate volatility as an increasing number of cargoes are floating throughout Asia while others are being diverted.
The International Energy Agency (IEA) has cut its oil demand growth forecast for the year as the coronavirus outbreak in China continues to take a toll on the global economy.
North Dakota’s chief oil and gas regulator last Friday predicted that the indirect impact of the coronavirus on global oil prices and demand could be felt for the rest of this year by U.S. operators.