Escalating tensions in the Middle East and uncertainty over U.S. LNG exports combined Monday to push European natural gas prices higher. Despite weak fundamentals, “geopolitics remain in focus” for the global energy market, said Schneider Electric analyst Robbie Fraser. Three U.S. servicemen were killed in a drone strike in Jordan over the weekend that was…
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Qatar and China’s Natural Gas Supply Relationship Grows with Latest LNG SPA, Equity Deal
China Petroleum and Chemical Corp. (Sinopec) is growing its supply and equity position in Qatar’s massive LNG expansion projects with an additional agreement inked with QatarEnergy. State-owned Sinopec, one of the world’s largest liquefied natural gas importers, disclosed it has signed a 27-year sales and purchase agreement for 3 million metric tons/year from QatarEnergy’s North…
Shell’s Global LNG Business Traded Tumult for Opportunity in Volatile Third Quarter
Shell plc took the topsy-turvy turmoil during the third quarter and turned in a solid performance for the world’s top LNG trader, CEO Wael Sawan said Thursday. The company’s chief shared insight about the overall quarterly performance during a conference call in London with CFO Sinead Gorman. Overall gas and oil production volumes declined from…
QatarEnergy, Eni Ink 27-Year LNG Deal for European LNG
QatarEnergy has inked another long-term deal to provide LNG for Europe as Eni SpA continues to replace Russian natural gas supplies. The Italian supermajor has agreed to buy up to 1 million tons (Mt) annually, or the equivalent of about 53 Bcf/year, of liquefied natural gas for 27 years from QatarEnergy’s North Field East (NFE)…
Qatar’s North Field Project Presents Less Risk for Oversupply Than Country’s Earlier Expansions – Column
After several years of chronically tight LNG markets, there was optimism among LNG buyers at the start of 2011. It seemed like the tables were turning in the favor of downstream buyers that had invested heavily in import infrastructure only to see terminals underutilized.
QatarEnergy Signs Another 27-Year LNG Supply Deal for Europe
QatarEnergy said Wednesday it has agreed to supply Shell plc with 3.5 million tons (Mt) of LNG from its massive North Field expansion project for nearly three decades. The liquefied natural gas would come from the 32 Mt/year North Field East (NFE) project and the 16 Mt/year North Field South (NFS) project. Shell was awarded…
QatarEnergy Inks Its Largest European LNG Supply Deal with TotalEnergies
QatarEnergy said Wednesday it has agreed to provide TotalEnergies SE with 3.5 million tons (Mt) of LNG annually over the course of 27 years from its massive North Field expansion projects. The company said cargoes for TotalEnergies from the North Field East (NFE) and North Field South (NFS) projects would begin in 2026 under two…
Qatar’s Push to Maintain LNG Dominance Promises to Influence How Competitors Market Volumes – Column
When Australia’s LNG exports overtook Qatar’s in 2021, it was the first and only time since 2005 that Qatar had not been the world’s largest liquefied natural gas exporter. It regained the title in 2022.
QatarEnergy Orders Another 17 LNG Tankers to Support Export Expansion
QatarEnergy has placed another large order for new LNG vessels as it continues to build out its shipping fleet ahead of a massive expansion in its liquefaction capacity that’s expected to come online later this decade. The state-owned company said Wednesday it has signed a deal worth $3.9 billion to have South Korea’s HD Hyundai…
Qatar Still Has Enormous Volume of LNG Left to Market
Qatar, one of the top global LNG exporters, is having a banner year. The country has signed record volumes of long-term liquified natural gas supply contracts with new and existing buyers. But it remains uncertain how much of the additional capacity that is being developed by QatarEnergy (QE) will be committed by the end of…