Shipping

Liquefied natural gas (LNG) shipowners that recently capped off first quarter earnings season see a grim outlook for most of 2020 as global supplies teem, prices have cratered and demand wavers.

State-owned Qatar Petroleum (QP) inked agreements this week with South Korea’s major shipyards, reserving construction capacity to secure more than 100 liquefied natural gas (LNG) carriers over the next eight years in a deal valued at more than $19 billion.

You need some serious tonnage to move vast quantities of super-chilled natural gas from one continent to another. The massive ships used to transport liquefied natural gas (LNG) add another element to the export trade that can’t be overlooked for those who want to better understand the market.

While crude oil from North Dakota moves increasingly by rail, Gov. Jack Dalrymple on Thursday told a federal transportation panel field hearing in Bismarck that his state is suffering from inadequate rail service for its multi-billion-dollar agricultural industry.

The first oilsands project with longer term commercial possibilities in Utah has gotten approval to move forward from a citizen appeal board for the state Division of Oil, Gas and Mining (DOGM). It’s backers say it is the first commercial-scale oilsands project in the United States.

Malaysian national oil company Petronas has increased to approximately C$6 billion its bid for Progress Energy Resources Corp. in a deal that would create a company that would deliver Canadian natural gas to world markets, Progress said. The amended offer was made in an effort to block an unsolicited proposal from another company.

Malaysian national oil company Petronas plans to combine its liquefied natural gas (LNG) expertise with the unconventional resources abilities of Calgary-based Progress Energy Resources Corp. by acquiring Progress in a deal worth C$5.5 billion including debt. The combined enterprise would deliver Canadian natural gas to world markets.

Encana Corp.’s long awaited Deep Panuke project, 155 miles southeast of Halifax on the Nova Scotian Shelf, will begin shipping its first natural gas by the end of March, according to company officials.

Encana Corp.’s long awaited Deep Panuke project, 155 miles southeast of Halifax on the Nova Scotian Shelf, will begin shipping its first natural gas by the end of March, officials said last week.