LNG exports

Gunvor Group Ltd. has renewed its syndicated borrowing base that was launched last year to support its LNG trading activities, attracting new interest and additional commitments from lenders across the world.  The trading house said it launched the syndication at $1.2 billion. It was oversubscribed with more than 20 banks from Africa, Asia, Europe and…

European LNG offtakers in 2023 are expected to continue the flurry of contracting activity that closed out 2022, as more import infrastructure comes online, larger buyers recapitalize and policies become clearer. Since November, European buyers including Engie SA, Galp Energia SGPS SA, Ineos Group Ltd. and RWE AG have signed deals to buy U.S. liquefied…

The U.S. Department of Energy (DOE) has granted Sempra Infrastructure’s request for two LNG export permits for terminal projects planned to provide a swift channel for U.S. natural gas to Asia from the Mexican Pacific Coast. Published by the DOE Tuesday, the orders expanded non-Free Trade Agreement (FTA) export volumes for Sempra’s Energia Costa Azul…

The U.S. government has committed to exporting up to 353 Bcf of natural gas to the UK next year as part of a strategic partnership aimed at strengthening commodity markets in Europe. As a part of the initiative disclosed Wednesday, called the UK-US Energy Security and Affordability Partnership, the countries have formed a joint action…

Mexico has big plans to become an LNG export powerhouse, but it might not have the pipelines or available capacity to do so, according to experts. “Is there enough capacity and pipelines to support these projects? I don’t think so,” said the head of the Gadex consultancy, Eduardo Prud’homme, at the LDC Gas Forums’ U.S.-Mexico…

New Fortress Energy Inc. (NFE) is steaming ahead with another LNG export project in Mexico. On Tuesday, the company said it had finalized a deal with Mexican state oil firm Petróleos Mexicanos (Pemex) to develop and operate a natural gas field and a liquefaction project off the coast of Veracruz. The offshore liquefaction plant at…

Top Mexican officials were in Texas this week laying out their new strategy for natural gas. Speaking on Wednesday at LDC Forums’ annual US-Mexico Natural Gas Forum in San Antonio, CFEnergía head Miguel Reyes said Mexican utility Comisión Federal de Electricidad (CFE) and international firms would now work together to solve natural gas problems. CFEnergía…

Europe is expected to continue paying exorbitant prices to attract LNG cargoes next year, particularly given how limited new supplies of the super-chilled fuel will be. A decline in sanctioned projects over the last decade during a low price environment and underinvestment in fossil fuels means new liquefaction capacity may be scarce until 2025, when…

U.S. crude oil exports drove another record quarter for the Port of Corpus Christi in South Texas as Western European buyers continue to shift away from Russian crude imports following the Kremlin’s invasion of Ukraine, it said Monday. A record of 48.3 million tons set in the third quarter surpassed the previous tonnage record of…