New additions to European LNG import capacity are moving forward as developers straddle the line between a current natural gas supply shortage and the region’s forecasted pivot to alternative fuels in the next decade. Hanseatic Energy Hub (HEH) GmbH disclosed it expects to reach a final investment decision “in the coming weeks” on Germany’s first…
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Papua New Guinea Looks to Finance Stakes in LNG Projects Despite Environmental Opposition
Papua New Guinea’s Kumul Petroleum Ltd. has been gauging interest with several international banks about backing two LNG projects, but environmental opposition could be pushing the state-owned firm to rely on Chinese banks for financing. Banks in Australia, Europe and the United States have been increasingly wary of funding the island nation’s existing and proposed…
Altamira LNG Nabs Final Environmental Assessment as Launch of Mexico Exports Nears
The U.S. Department of Energy (DOE) has delivered a final environmental assessment for New Fortress Energy Inc.’s (NFE) offshore Altamira LNG project as the firm awaits delivery of a component that could allow it to begin exporting U.S. natural gas from Mexico’s eastern coast. NFE previously requested to re-export 145 Bcf/year, or 400 MMcf/d, from…
Mexico Pacific LNG Project Could Have Positive Impacts on Overall Natural Gas Market — Column
Editor’s Note: NGI’s Mexico Gas Price Index, a leader tracking Mexico natural gas market reform, is offering the following column by Eduardo Prud’homme as part of a regular series on understanding this process. In the last decade, monumental infrastructure projects in Mexico have changed the landscape of the natural gas industry. The Ramones system bringing…
LNG Imports Continue Flowing Into Europe at High Rates Despite Bearish Fundamentals
High inventories, a bearish demand outlook and forecasts of a mild winter have failed to limit European LNG imports. Although Kpler data shows the continent’s total liquefied natural gas intake year-to-date has fallen to 113.68 million tons (Mt) from 114.95 Mt, LNG is still expected to make up around 43% of the European Union’s total…
Argentina’s Milei Promises Vast Shake-Up in Natural Gas-Rich Nation
Libertarian Javier Milei swept to victory in Argentina’s presidential elections last month promising drastic change and a radically new way of doing business in the country. The 53-year-old outsider has since vowed to privatize state oil and natural gas firm YPF SA. “Everything that can be placed into the hands of the private sector, will…
Energy Transition Reliant on Natural Gas as Decarbonization Said ‘Relatively Slow’
Natural gas will remain a “key transition fuel” until the mid 2040s to ensure electricity systems maintain their reliability for dispatchable generation, according to TotalEnergies SE. The French integrated major, which has a worldwide portfolio of oil, natural gas and alternative energy projects, recently issued its fifth annual outlook of the global markets. The forecast,…
Mexico Pacific Takes Another Step Toward Realizing LNG Export Ambitions
Mexico Pacific Ltd. LLC has announced a new advance on its 2.8 Bcf/d Sierra Madre natural gas pipeline. Mexico Pacific has hired a joint venture (JV) of Mexican construction company GDI Sicim Pipelines SA and oil and gas services firm Bonatti SpA to execute the engineering, procurement and construction (EPC) contract for the project. Sierra…
NextDecade Targets 2024 to Sanction Rio Grande LNG Expansion
As construction of the first phase gets underway in South Texas near the Mexico border, NextDecade Corp. is looking to finalize plans by mid-2024 to expand its Rio Grande LNG export project. The Houston-based firm broke ground in Brownsville on the first three trains of the facility last month, which could add 17.6 million metric…
Aspiring LNG Exporter Mexico Pacific Touts Chihuahua Natural Gas Pipeline Agreement
Mexico Pacific Ltd. LLC has reached an agreement with the government of Chihuahua state to advance the proposed 2.8 Bcf/d Sierra Madre natural gas pipeline. Sierra Madre would supply Permian Basin gas from the U.S. border across the states of Chihuahua and Sonora to Mexico Pacific’s proposed Saguaro Energía LNG export terminal envisioned for Puerto…