LNG

European sanctions are having a “direct impact” to complete services for Russia’s Arctic LNG 2, a major liquefied natural gas (LNG) project in the Far North of the country, Technip Energies’ CEO said Monday. Since Russia’s invasion of Ukraine in February, the European Union (EU) has imposed a series of sanctions. They include barring delivery…

U.S. natural gas prices rebounded Monday and were set to maintain momentum as benchmarks in Asia and Europe continued to cool.  “Daily demand is set to rise mid-week, adding as much as 5.5 Bcf/d by Wednesday and coinciding with the May contract rollover,” said EBW Analytics Group analyst Eli Rubin of the Henry Hub contract. …

Australia’s Santos Ltd. reported record revenue and production for 1Q2022 from a combination of soaring commodity prices and the end of a merger, despite some offsets from maturing fields. The producer posted its first full quarter of earnings since wrapping up a merger with Oil Search Ltd. in December. Management said the volumes and sales…

Management at global petrochemical giant Dow Chemical Co. said Thursday that manufacturing sites with access to shale natural gas resources enjoyed a favorable position during the first quarter of 2022. “Natural gas has been stubbornly high,” said CEO Jim Fitterland during Dow’s earnings call for the first quarter of 2022. “It was higher than last…

LONDON (ICIS) –The long Easter break heightened the market’s volatility, with European gas prices crashing at the close on 14 April, only to firm on the market’s return on 19 April, supported by lower pipeline supply due to outages.

Korea Gas Corp., aka Kogas, said Friday that it has signed a long-term contract to buy U.S. liquefied natural gas (LNG) from an affiliate of BP plc.  The company agreed to purchase 1.58 million tons (Mt) annually from BP Singapore Pte. Ltd. for an 18-year term at prices linked to Henry Hub. Kogas is one…

U.S. natural gas prices declined this week following a rally that saw the Henry Hub contract hit a 13-year high of $8.065/MMBtu on Monday (April 18). Prices fell as traders took profit, but they could rebound on cold early next week and the “impending May contract expiration,” according to EBW Analytics Group. The May contract closed at $6.534 on Friday.

Atlanta Gas Light Co. (AGLC), one of the South’s largest natural gas distributors, is expanding its liquefied natural gas (LNG) peak shaving facility in the exurbs of Atlanta as part of a long-term response to growing energy demand. The Southern Co. affiliate has started work on a $250 million expansion of its Cherokee LNG facility…

Lofty energy prices, driven by steady demand and global supply shocks imposed by Russia’s invasion of Ukraine, present U.S. exploration and production (E&P) companies both profit opportunity and potential hazard. As the first quarter E&P earning season gets in full swing over the coming weeks, markets are expected to focus on whether companies are able…