The Biden administration’s final revisions to the nation’s methane regulations, launched on Saturday, drew sharp criticism from energy trade groups, even as 50 of the world’s largest natural gas and oil producers pledged more emissions cuts. Long expected, the U.S. Environmental Protection Agency (EPA) final rulemaking revised the Clean Air Act (CAA) methane and volatile…
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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…

TotalEnergies CEO Says U.S. LNG ‘Important’ to Strategy and European Natural Gas Supply
TotalEnergies SE is on the hunt for more opportunities for affordable LNG like its recent grabs in the United States as Europe’s energy volatility and rising costs are likely to persist. Despite Europe’s falling oil and natural gas prices during the second quarter, CEO Patrick Pouyanné said “tensions” in the global gas market will mean…

More LNG Cargoes Head to Asia for Higher Prices – LNG Recap
Asian LNG prices remain higher than those in Europe as weak demand, high storage inventories and mild weather on parts of the continent are keeping a lid on the cost of natural gas. The August Title Transfer Facility (TTF) contract fell by 12% last week and the Japan-Korea Marker (JKM) prompt futures contract followed suit…
Shell Says ‘Seasonality’ Limited Second Quarter Natural Gas Trading – The Offtake
Shell plc expects its second quarter liquefaction volumes to range from 6.9 to 7.2 million tons (Mt). That’s compared to 7.2 Mt in the first quarter and 7.66 Mt in 2Q2022.

Shell Agrees to Pay $10M Air Pollution Fine at Pennsylvania Ethane Cracker
An affiliate of Shell plc has agreed with state regulators to pay $10 million for a fine and environmental projects in Western Pennsylvania after the company admitted to exceeding emissions limits at its massive ethane cracker outside of Pittsburgh. Under a consent order agreement (COA), Shell Chemicals Appalachia LLC will pay a roughly $4.9 million…

Canadian Natural Gas Giant Tourmaline Touts California, LNG Price Exposure to Offset AECO Weakness
Canada’s largest natural gas producer, Tourmaline Oil Corp., is aiming to maximize its exposure to volatile North American markets, such as California, as well as global LNG pricing, management said last Thursday. CEO Michael Rose hosted a conference call to discuss first quarter results for Calgary-based Tourmaline, which operates throughout the Western Canadian Sedimentary Basin.…

LNG Market Shifting Attention to Summer as Demand Remains Weak Across Asia, Europe – LNG Recap
The LNG market was again muted as the week got underway with hotter weather and restocking demand still in the offing. In Europe, the prompt Title Transfer Facility (TTF) gained just a penny in a quiet day of trading amid labor holidays across the continent. The June contract gave up 4% last week to finish…

Shell Forecasting Higher Production in 1Q as LNG Volumes Ramp in Australia
The return of LNG volumes in Australia, as well as stable natural gas and oil trading, should boost Shell plc’s results in the first quarter, the integrated major said. Liquefied natural gas volumes are forecast to climb to 7.0-7.4 million metric tons (MT) in 1Q2023 from 6.8 MT in 4Q2022. Shell, in a preview of…

Iran Faces Uphill Battle in Push to Revive LNG Export Projects
Despite holding the world’s second largest natural gas reserves and having Russia as a new partner, Iran faces challenges to revive one of its three LNG export projects. Iran, the world’s third largest gas producer, shares the giant North Dome/South Pars field with Qatar, but it has fallen far behind in developing its reserves to…