LNG

Woodside Petroleum Ltd., Australia’s top natural gas producer, reported a steep 42% fall in third-quarter revenue from a year ago despite higher sales volumes, as its long-term liquefied natural gas (LNG) export contracts were hit hard by low oil prices from last quarter. Most of Woodside’s LNG contracts are with Asian customers and are indexed…

BP plc has no plans to veer off an objective to reach net-zero emissions by 2050, but natural gas and oil continue to be the “engine” driving the company in the near term, CEO Bernard Looney said Tuesday. Looney and CFO Murray Auchincloss held a wide-ranging conference call to share third quarter results. BP’s global…

Natural gas futures moved back above $3.00/MMBtu Monday as export demand reached fresh highs and weather models added back some previously lost demand for the 15-day period. With expiration looming later this week, the November Nymex contract climbed 5.3 cents to $3.024. December edged up 5.8 cents to $3.253. Spot gas prices surged at the…

Inspections have shown that a fire last month at Equinor ASA’s Hammerfest liquefied natural gas (LNG) terminal in northern Norway will require at least a year’s worth of work to repair, the company said Monday.  The fire broke out in the air intake of one of the plant’s five power turbines, which caused extensive damage,…

French energy company Engie SA has indefinitely postponed signing a long-term deal to buy liquefied natural gas (LNG) from the proposed Rio Grande LNG facility in Texas because of French government concerns over hydraulic fracturing (fracking), a person close to the matter told NGI on Friday. “What is very clear is that Engie postponed discussions…

Strong power burns and rising export demand launched spot gas prices sharply higher for the Oct. 19-23 period. Fueled by gains of more than 50.0 cents across much of the United States, but countered by steep losses in California and Appalachia, NGI’s Weekly Spot Gas National Avg. ultimately rose 42.5 cents to $2.405. Benchmark Henry…

After multiple setbacks, liquefied natural gas (LNG) demand ramped up in a big way during the Oct. 15-21 period, tightening up supply/demand balances and boosting natural gas forward prices across the country, according to NGI’s Forward Look. November prices jumped an average 26.0 cents for the period, with double-digit gains extending through the winter months…

Recovering liquefied natural gas (LNG) demand, forecasts for a colder winter that were supported by an early Midwest chill, low production and abating storage containment worries should support gas prices in the final months of this year and establish momentum for 2021, analysts argue. “While U.S. storage is projected to exceed 4 Tcf by the…

Natural gas liquefaction technology made by Chart Industries Inc. can be modified relatively easily to also liquefy hydrogen for export, the CEO said Thursday. Ball Ground, GA-based Chart provides liquid gas technologies and equipment for the energy, water and space industries, among others. It has in the last few years become more focused on the…