Supply

Tellurian Finalizes Offtake Agreements for First Phase of Driftwood LNG

Tellurian Finalizes Offtake Agreements for First Phase of Driftwood LNG

Tellurian Inc. on Thursday said it has secured enough offtake to support the first phase of its proposed Driftwood liquefied natural gas (LNG) export project in Louisiana after signing a deal with Royal Dutch Shell plc to supply 3 million metric tons/year (mmty).  The project hasn’t been sanctioned yet, but the sale and purchase agreement…

July 29, 2021
PGNiG Inks Another Sempra Deal after Scrapping Texas SPA, Boosts LNG Offtake from Venture Global

PGNiG Inks Another Sempra Deal after Scrapping Texas SPA, Boosts LNG Offtake from Venture Global

Polish Oil and Gas Co., aka PGNiG, has scrapped one deal and signed another with U.S. developer Sempra related to North American liquefied natural gas (LNG) supply.  The memorandum of understanding (MOU) announced Tuesday was signed after PGNiG canceled a previous sale and purchase agreement (SPA) to buy 2 million metric tons/year (mmty) of LNG…

July 27, 2021
Petronas Inks $7B Deal to Supply LNG Canada Cargoes to CNOOC

Petronas Inks $7B Deal to Supply LNG Canada Cargoes to CNOOC

Malaysia’s state-owned Petroliam Nasional Berhad, aka Petronas, has struck a $7 billion liquefied natural gas (LNG) supply deal with China National Offshore Oil Corp. (CNOOC) that includes cargoes from the LNG Canada facility currently under construction in British Columbia. Under the terms of the deal, Petronas would supply 2.2 million metric tons per year (mmty)…

July 7, 2021
Qatar Inks SPA with Shell to Expand LNG Supply to China

Qatar Inks SPA with Shell to Expand LNG Supply to China

Qatar Petroleum (QP) has inked another long-term sales and purchase agreement (SPA) to supply Royal Dutch Shell plc with 1 million tons (Mt) of liquefied natural gas (LNG).  Under the deal, QP would begin providing Shell with supplies from its Qatargas 1 trains beginning in January for 10 years. Shell would then deliver the cargoes…

July 1, 2021
Rystad Sees Global LNG Market Flipping from Surplus to Deficit in 2029 on Mozambique LNG Delays

Rystad Sees Global LNG Market Flipping from Surplus to Deficit in 2029 on Mozambique LNG Delays

Anticipated delays in developing liquefied natural gas (LNG) export projects in Mozambique could cause the market to tighten even more than expected later this decade, with forecasts flipping from surplus to deficit in 2029, according to a new report from Rystad Energy. The Norwegian consultancy said it now expects a supply deficit of 5.6 million…

May 10, 2021
Chevron Inks Another Deal to Supply LNG in Asia

Chevron Inks Another Deal to Supply LNG in Asia

Chevron Corp. said Wednesday that it has signed a binding sales and purchase agreement (SPA) to supply liquefied natural gas (LNG) to a utility in Hokkaido, Japan, beginning in 2022. Under the deal, affiliate Chevron U.S.A. Inc. would provide 500,000 tons of LNG from 2022 to 2026 to Hokkaido Gas Co. Ltd. With harsh winters,…

April 7, 2021
Qatar Petroleum Signs LNG Supply Deal with China’s Sinopec

Qatar Petroleum Signs LNG Supply Deal with China’s Sinopec

State-owned Qatar Petroleum (QP) on Monday signed an agreement to supply China Petroleum & Chemical Corp., aka Sinopec, with 2 million tons (Mt) of liquefied natural gas (LNG) annually for a term of 10 years.  The deal is yet another bold move for QP as it looks to strengthen its hand in the future of…

March 22, 2021
Natural Gas Prices Continue to Slide on Post-Storm Recovery

Natural Gas Prices Continue to Slide on Post-Storm Recovery

Natural gas futures crashed on Monday as production appeared to be making a quick recovery from the unrivaled Arctic blast that rocked the energy industry last week. Warming weather models also provided a headwind to prices, with the March Nymex gas futures contract tumbling 11.6 cents to settle at $2.953. April slid only 5.5 cents…

February 22, 2021
Chevron, Pavilion Agree to LNG Supply Deal Detailing Emissions to Produce and Deliver Cargoes

Chevron, Pavilion Agree to LNG Supply Deal Detailing Emissions to Produce and Deliver Cargoes

An affiliate of Chevron Corp. has signed a deal to supply liquefied natural gas (LNG) that requires it to detail the emissions generated to produce and deliver the cargoes as more countries scrutinize their energy consumption and climate impacts.  Chevron U.S.A. Inc. has agreed to supply Pavilion Energy Trading & Supply Pte. Ltd. with 500,000…

February 22, 2021
Uncertainty Overshadows Global Natural Gas Recovery as Winter Nears End

Uncertainty Overshadows Global Natural Gas Recovery as Winter Nears End

Global natural gas demand is expected to bounce back to pre-pandemic levels this year, but the recovery is likely to be uneven and growth could be weak even after demand soared amid a historic cold snap this winter.  “We opened the year with this very strong bull run in Asia, which I would say was…

February 12, 2021
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