imports

China’s Sinopec, CNPC Discover More Oil, Natural Gas Resources

China’s Sinopec, CNPC Discover More Oil, Natural Gas Resources

China Petroleum & Chemical Corp., aka Sinopec, has reportedly announced another oil and natural gas discovery in the Tarim Basin.  The state-owned company said on Chinese social media that it had discovered 100 million tons of oil and gas resources in the legacy-producing region, according to Reuters. That’s roughly the equivalent of 733 million bbl…

August 27, 2021
United States Led Global LNG Exports Higher Through May, IEA Says

United States Led Global LNG Exports Higher Through May, IEA Says

Natural gas consumption continued to increase across the world in May and exports were up to meet demand, according to the International Energy Agency (IEA). IEA in its latest monthly report said gross natural gas consumption increased 7.4% year/year to 125.9 million cubic meters (MMcm) in developed nations, defined as the Organization for Economic Cooperation…

August 12, 2021
Canada Imported Cheaper, Lower Volumes of U.S. Oil Amid Covid Pandemic

Canada Imported Cheaper, Lower Volumes of U.S. Oil Amid Covid Pandemic

The Covid-19 pandemic cut the volume and value of Canadian oil imports from the United States but did not stop the northbound flows, according to the Canada Energy Regulator (CER) and IHS Markit. Canadian imports from the United States fell 20% year/year in 2020, to 550,000 b/d from 693,000 b/d in 2019 before global oil…

August 12, 2021
Repsol Nabs Irving Oil Stakes in Canaport LNG Import Terminal

Repsol Nabs Irving Oil Stakes in Canaport LNG Import Terminal

Spanish energy major Repsol SA is the sole owner of Canada’s only liquefied natural gas (LNG) import terminal after it purchased Irving Oil Ltd.’s share in the project. Repsol, which previously a  held 75% stake in the terminal, added Irving’s 25% interest in the disused Canaport LNG terminal at St. John, New Brunswick. The value…

August 6, 2021
U.S. LNG Cargoes Delivered to Brazil Rising as Demand Breaks Records

U.S. LNG Cargoes Delivered to Brazil Rising as Demand Breaks Records

Liquefied natural gas (LNG) cargoes sourced from the United States are taking up an increasingly important share of Brazil’s booming import market, according to market research firm Kpler. Brazil saw its highest-ever level of LNG in June, when imports clocked in at 657,000 tons. This compared to zero cargoes last June and 184,000 tons received…

July 21, 2021
Argentina’s Second LNG Import Terminal Starts Operations to Meet Winter Demand

Argentina’s Second LNG Import Terminal Starts Operations to Meet Winter Demand

Gas-rich Argentina is back to importing natural gas from two ports with the startup of Excelerate Energy LP’s Exemplar floating storage and regasification unit (FSRU) at Bahía Blanca. The new liquefied natural gas (LNG) import option adds to the existing Excelerate FSRU now stationed at Escobar, also in Buenos Aires province. The Exemplar FSRU has…

June 4, 2021
LNG 101: How Europe’s Carbon Market Drives Demand for Natural Gas Imports

LNG 101: How Europe’s Carbon Market Drives Demand for Natural Gas Imports

European carbon prices have soared in 2021, reaching heights not seen since the continent’s emissions trading system (ETS) was established in 2005 and signaling what could be a longer-term trend across a region looking to further tighten climate regulations. Carbon prices hit a record by crossing the 50 euros per metric ton mark in early…

June 3, 2021
Argentina Ramping Up LNG Imports Ahead of Southern Hemisphere Winter

Argentina Ramping Up LNG Imports Ahead of Southern Hemisphere Winter

Argentina has commissioned a second floating storage and regasification unit (FSRU) to meet higher-than-expected natural gas demand this upcoming winter in the Southern Hemisphere. The country’s natural gas buyer, Integración Energética Argentina (Ieasa), has leased an Excelerate Energy LP FSRU for the Bahía Blanca port. This will add to the existing FSRU now stationed at…

April 26, 2021
Argentina Gearing Up for Winter of Higher Natural Gas Demand, Import Needs

Argentina Gearing Up for Winter of Higher Natural Gas Demand, Import Needs

Argentina has commissioned a second floating, storage and regasification unit (FSRU) to meet higher-than-expected natural gas demand this upcoming winter in the Southern Hemisphere. The country’s natural gas buyer, Integración Energética Argentina (Ieasa), has leased an Excelerate Energy LP FSRU for the Bahía Blanca port. This will add to the existing FSRU now stationed at…

April 21, 2021
Natural Gas Prices Continue to Slide on Post-Storm Recovery

Natural Gas Prices Continue to Slide on Post-Storm Recovery

Natural gas futures crashed on Monday as production appeared to be making a quick recovery from the unrivaled Arctic blast that rocked the energy industry last week. Warming weather models also provided a headwind to prices, with the March Nymex gas futures contract tumbling 11.6 cents to settle at $2.953. April slid only 5.5 cents…

February 22, 2021
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