Shell

Pennsylvania Governor OKs Act Adding $80M Annually in Tax Credits for Natural Gas, Hydrogen Purchases

Pennsylvania Governor OKs Act Adding $80M Annually in Tax Credits for Natural Gas, Hydrogen Purchases

Pennsylvania Gov. Tom Wolf, a Democrat in the second-largest U.S. natural gas-producing state, approved an act boosting tax credits for natural gas use by billions over decades.  Act 108, enacted from House Bill (HB) 1059 and dubbed the Pennsylvania Economic Development for a Growing Economy (PA EDGE), amends the Keystone State’s tax code to bring…

November 14, 2022
Shell Boosts Stake in Qatar’s North Field LNG Expansion

Shell Boosts Stake in Qatar’s North Field LNG Expansion

QatarEnergy has selected Shell plc as its second partner in the North Field South (NFS) project, awarding a 9.75% stake in the 16 million metric tons/year (mmty) LNG expansion.  QatarEnergy CEO Saad Sherida Al-Kaabi was joined by Shell CEO Ben van Beurden at a signing ceremony in Doha Sunday. Shell joins TotalEnergies SE, which was…

October 25, 2022
Russia’s Grip on Sakhalin Strengthens with ExxonMobil’s Exit

Russia’s Grip on Sakhalin Strengthens with ExxonMobil’s Exit

Russia’s control of global oil and natural gas supplies, and particularly LNG, has progressed with ExxonMobil’s exit from the Sakhalin-1 offshore oil project. ExxonMobil disclosed exited Sakhalin-1 after Russian President Vladimir Putin signed a decree expropriating the supermajor’s 30% stake “With its two recent decrees, the Russian government unilaterally terminated our interests in Sakhalin-1, and…

October 24, 2022
Kinder Sells Quarter Stake in Elba Island LNG for $565M

Kinder Sells Quarter Stake in Elba Island LNG for $565M

Kinder Morgan Inc. (KMI) has completed the sale of a 25.5% equity stake in Elba Liquefaction Co. LLC (ELC) to an undisclosed buyer for about $565 million, management said Tuesday. ELC, a joint venture between KMI and Blackstone Credit, owns the 2.5 million metric tons/year Elba Island LNG export terminal in Chatham County, GA.  KMI…

September 29, 2022
Regional Hydrogen Hubs Grow Ahead of Federal Funding Opportunities

Regional Hydrogen Hubs Grow Ahead of Federal Funding Opportunities

Two New England states recently joined the northeastern regional hydrogen hub coalition, adding to the expanding list of agencies ready to benefit from federally funded projects.  With the addition of Rhode Island and Maine, the New York-led coalition now involves six states. Connecticut, Massachusetts and New Jersey were the first to partner with the New…

August 29, 2022
Shell Expanding U.S. LNG Share with Lake Charles Offtake Agreement

Shell Expanding U.S. LNG Share with Lake Charles Offtake Agreement

Shell plc has increased its portfolio of U.S. LNG and helped progress a developing Gulf Coast export project it once held a half-stake in with a long-term agreement with Energy Transfer LP (ET). ET signed a 20-year sales and purchase agreement (SPA) with Shell for 2.1 million metric tons/year from the proposed Lake Charles LNG…

August 25, 2022
Shell, Equinor and U.S. Steel Partnering on CCUS, Hydrogen Hubs in Appalachia

Shell, Equinor and U.S. Steel Partnering on CCUS, Hydrogen Hubs in Appalachia

European-based supermajors Equinor ASA and Shell plc are collaborating with United States Steel Corp. to advance “decarbonization opportunities” in the Pennsylvania, Ohio and West Virginia region. U.S. Steel, as it is known, said the cooperation agreement with Equinor US Holdings Inc. and Shell US Gas & Power LLC would include carbon capture utilization and storage…

August 25, 2022
Russian LNG Projects Face Continued Uncertainty as Kremlin Consolidates Control

Russian LNG Projects Face Continued Uncertainty as Kremlin Consolidates Control

President Vladimir Putin’s latest decree to stop sales of Russian energy assets, leaves the status and progress of Russia’s liquefied natural gas (LNG) projects in disarray.  The decree takes full control of the 9.6 mmt/y Sakhalin-2 project in Russia’s far east. Shell plc has already said it plans to divest its 27.5% stake in the…

August 23, 2022
Natural Gas Forwards Pull Back, but Freeport LNG Timeline Emboldens Bulls

Natural Gas Forwards Pull Back, but Freeport LNG Timeline Emboldens Bulls

A down-then-up stretch in the futures market saw natural gas forwards pull back slightly at most Lower 48 hubs during the Aug. 4-10 trading period, although several western hubs enjoyed basis strengthening on upcoming heat, NGI’s Forward Look data showed. Prices for September delivery at benchmark Henry Hub ended the period at $8.203/MMBtu, a 6.4-cent…

August 12, 2022
September Natural Gas Pulls Back as Traders Continue Assessing Balances Following GOM Outage

September Natural Gas Pulls Back as Traders Continue Assessing Balances Following GOM Outage

Natural gas futures reversed lower early Friday as traders and analysts continued to assess balances following the latest government inventory data and in the wake of a disruption to Gulf of Mexico (GOM) production volumes. After surging 67.2 cents higher in the previous session, the September Nymex contract was off 16.4 cents to $8.710/MMBtu as…

August 12, 2022
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