LNG

Private equity giant EIG is gaining a bigger foothold in the world’s natural gas and oil projects after clinching an estimated $4.8 billion agreement to acquire a 25% stake in Repsol SA’s new upstream company. Repsol Upstream, 70% weighted to natural gas, has been formed as the supermajor’s exploration and production (E&P) company. It would…

Natural gas futures continued to slide early Wednesday as traders mulled potential impacts to LNG exports from a reinstated pollution rule affecting two major U.S. terminals.  After plunging 64.1 cents in Tuesday’s trading, the October Nymex contract was down another 12.6 cents to $8.019/MMBtu at around 8:55 a.m. ET. Selling in Tuesday’s session occurred in…

Excelerate Energy Corp. has agreed to supply Germany with a fifth floating storage and regasification unit (FSRU) that could be used to increase LNG imports by next winter. The 5 Bcm/year capacity vessel chartered for five years from Excelerate, headquartered north of Houston in The Woodlands, could become the second FSRU at the liquefied natural…

Kosmos Energy Ltd. and BP plc are working to fast-track the first 2.5 million metric tons/year (mmty) phase of the $4.8 billion Greater Tortue Ahmeyim (GTA) LNG project offshore Mauritania and Senegal.  “We continue to make good progress quarterly and are still targeting first gas in 3Q2023 with the first [GTA] LNG cargo targeted for…

Brazilian national oil company Petróleo Brasileiro SA (Petrobras) saw falling natural gas demand and the need for fewer LNG cargoes for the second consecutive quarter as rainfall continued to replenish the nation’s reservoirs. Natural gas demand dropped to 56 million cubic meters/day (MMm3/d) in the second quarter, compared to 83 MMm3/d in the same period…

Sympathetic to spiking European prices amid constraints on imports from Russia, domestic natural gas futures were soaring in early trading Monday. As of around 8:55 a.m. ET, the September Nymex contract was up 53.5 cents to $9.871/MMBtu. Surging Dutch Title Transfer Facility (TTF) prices in Europe, driven by supply fears amid tensions over the Russian…

Demand for LNG imports to Brazil via the Bahia regasification terminal grew in the second quarter despite surging global natural gas prices, according to the terminal’s operator, Excelerate Energy Corp. CEO Steven Kobos hosted a conference call Thursday to discuss Excelerate’s second-quarter results. The 700 MMcf/d capacity terminal in the city of Salvador began operations…

New Fortress Energy Inc. (NFE) is looking to develop up to four fast LNG (FLNG) projects offshore Mexico’s Gulf Coast amid the global natural gas supply crunch, management said during an earnings call last week. This is in addition to the company’s first FLNG project currently under development offshore Louisiana. At the port of Altamira,…

San Diego-based Sempra’s whirlwind of LNG and equity agreements includes the potential to develop up to three different natural gas export projects on Mexico’s Pacific coast. CEO Jeff Martin said last week that “significant growth drivers” were influential for the Sempra Infrastructure subsidiary formed last year to expand liquefied natural gas exports, net-zero fuels and…