LNG

Recent cuts in global LNG supply and further geopolitical tensions are colliding, causing a growing list of European and Asian countries to react with energy conservation plans and economic warnings. Rice University’s Anna Mikulska, a nonresident fellow in energy studies at the Baker Institute for Public Policy, said the growing chaos in energy markets could…

Delfin Midstream Inc. has secured a long-term sales and purchase agreement (SPA) and equity investment with Vitol Inc. as it progresses plans to build what could be the Gulf Coast’s first floating LNG (FLNG) terminal. Houston’s Delfin said Wednesday it netted a 15-year, 0.5 million metric ton/year (mmty) offtake agreement for liquified natural gas with…

Houston-based mega independent ConocoPhillips on Thursday clinched a tentative agreement for long-term offtake and a 30% equity stake in Sempra Infrastructure’s proposed Port Arthur LNG project near Houston. The “potentially significant expansion” sets the world’s largest independent on course to become a global liquefied natural gas player. San-Diego’s Sempra said ConocoPhillips would also take 5…

Brent crude oil prices are on track to average $104/bbl in 2022, a sharp increase from an average price of $71 for the global benchmark in 2021, updated modeling from the Energy Information Administration (EIA) shows. The horizon remains clouded by uncertainty surrounding economic activity and the effects of Russia’s invasion of Ukraine, researchers said…

A robust cooling demand outlook into the second half of July supported further gains for natural gas futures early Thursday as traders prepared to assess the latest government inventory data.  The August Nymex contract was up 19.0 cents to $6.879/MMBtu at around 8:50 a.m. ET, extending a 52.6-cent rally from the previous session.  Surveys ahead…

A roundup of news and commentary from NGI’s LNG Insight An unplanned outage at Norway’s Sleipner natural gas field in the North Sea continued Wednesday.  Norwegian transmission system operator Gassco said the outage is expected to end by Friday (July 15). Another unplanned outage at the Nyhamna processing facility that’s also impacted gas exports to…

Russia’s Gazprom PJSC said in a Wednesday statement it currently had no indication vital equipment for its Nord Stream 1 (NS1) pipeline would be returned from Canada, potentially reversing hopes of a quick restoration of natural gas capacity for Europe. A gas turbine engine from one of NS1’s compressor stations (CS) has been under maintenance…

Tellurian Inc., which has since its inception buoyed its Lower 48 natural gas portfolio to feed its proposed export project in Louisiana, on Wednesday gobbled up more producing wells and infrastructure in the Haynesville Shale. Subsidiary Tellurian Production LLC (TPC) agreed to purchase a package of assets from privately held EnSight IV Energy Partners LLC…

Driven by upstream activity tied to LNG export projects, production of natural gas liquids (NGL) in the gassy Montney Shale has seen a recent boost, according to the U.S. Energy Information Administration (EIA).  In its latest analysis of Canada’s energy commodities, EIA projected the country’s oil production to grow this year and into 2023.  Factors…