Supply

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…

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…

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,…

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…

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…

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…

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…

Oil and gas supply and demand appears now to be heading in opposite directions, setting the stage for a potential upcycle in the industry, RPC Inc. CEO Richard A. Hubble said Wednesday. Hubble, who runs the Atlanta-based oilfield services (OFS) giant, discussed the fourth quarter performance and outlook for 2021 during a conference call. RPC…

Commonwealth Liquefied Natural Gas (LNG) has launched a tender soliciting bids from potential offtakers that could acquire supply from the proposed project in Louisiana at volumes, pricing and durations of their choosing.  The company is aiming to accelerate the supply contracting process by offering more flexibility. Offtakers could buy on a tolling, free-on-board (FOB) or…