LNG exports

Freeport LNG has reported an outage of one of the three trains at its Texas export terminal, cutting into potential U.S. feed gas demand for at least the next month. The company confirmed Friday that freezing temperatures last week on the Texas coast during Winter Storm Heather caused electrical issues with one of the electric…

The Biden administration on Friday did as rumored and said it would temporarily pause new federal export authorizations for LNG projects while the Department of Energy (DOE) reviews policies to determine whether more capacity is in the public interest. The White House and DOE ended days of speculation after a New York Times report earlier…

News that the Department of Energy (DOE) may pause authorizations for new LNG export projects has stirred reactions from industry groups and environmentalists alike, but what does it mean for domestic and global natural gas supply outlooks? The New York Times was the first to report Wednesday that the Biden administration has directed DOE to…

The world is on track to achieve 800 million metric tons/year (mmty) of LNG capacity by 2030, with Baker Hughes Co. expecting to grab a major slice of the market, executives said Wednesday. CEO Lorenzo Simonelli, joined by CFO Nancy Buese, discussed the Houston-based oilfield service giant’s latest quarterly results and the outlook during a…

The Port of Corpus Christi in South Texas moved a record amount of tonnage last year, driven primarily by higher crude oil and LNG shipments. Goods jumped 8.1% year/year to 203 million tons (Mt). The port said crude oil exports were the biggest factor, which jumped 12.5% to 126.1 Mt. A record volume of 16.3…

Norway has awarded 62 offshore drilling licenses from the country’s 2023 auction, expanding explorable acreage in the Arctic and potentially locking in decades of oil and natural gas supply for European allies. The Ministry of Energy awarded offshore production permits on the Norwegian Continental Shelf to 24 oil and gas companies, with Equinor ASA and…

Mexico Pacific Ltd. LLC (MPL) has signed another long-term agreement to sell an ExxonMobil affiliate more LNG from MPL’s Saguaro Energia export project under development on the country’s west coast.  MPL said Tuesday it would sell 1.2 million metric tons/year (mmty) of the super-chilled fuel from Saguaro’s third liquefaction train to ExxonMobil LNG Asia Pacific…

Growing environmental opposition and political headwinds could combine to be one of this year’s biggest challenges for U.S. LNG projects working to advance. International environmental organizations, along with grassroots groups, social media influencers and some Democrats, are stepping up their efforts to stop the expansion of U.S. gas exports that’s accelerated in recent years.  The…

Headed into 2024, global natural gas prices have seemingly coalesced around a new normal  after a volatile two-year period, but experts warn a tenuous market balance means volatility is likely just around the corner for at least the next year. While prices for spot LNG and European pipeline volumes are elevated after Russia’s 2022 invasion…