International

Alberta Premier Promises to Explore ‘All Legal Avenues’ if Keystone XL Canceled by Biden Administration

Alberta Premier Promises to Explore ‘All Legal Avenues’ if Keystone XL Canceled by Biden Administration

Canadian leaders are vowing to rescue TC Energy Corp.’s Keystone XL (KXL) — or sue for damages — from a plan for incoming President Biden to cancel the U.S. presidential permit for the $8 billion oil export pipeline project. KXL stands out as an 830,000 b/d growth enabler for Canada’s top natural gas user, Alberta…

January 19, 2021
North American Natural Gas Hard Hit by Covid-19, but Robust Growth Seen Through 2040

North American Natural Gas Hard Hit by Covid-19, but Robust Growth Seen Through 2040

North American natural gas production bore the brunt of the Covid-19 pandemic’s impact on global gas output in 2020, but demand fared better in the lower price environment. In its Gas Year 2020 review, Rystad Energy said North American gas production is estimated to have fallen 47 billion cubic meters (bcm) from 2019 levels to…

January 15, 2021
February Natural Gas Futures Flounder as Potential for Extreme Cold Eases; Cash Prices Fall

February Natural Gas Futures Flounder as Potential for Extreme Cold Eases; Cash Prices Fall

In a third consecutive day of topsy-turvy trading, natural gas futures ultimately finished firmly in negative territory, as markets fixated more on shifting weather patterns than a bullish storage report and rising U.S. liquefied natural gas (LNG) volumes. The February Nymex gas futures contract settled at $2.666/MMBtu, down 6.1 cents day/day. March fell 5.9 cents…

January 14, 2021
Perfect Storm Driving Meteoric Rise in Asian LNG Prices Could Happen Again

Perfect Storm Driving Meteoric Rise in Asian LNG Prices Could Happen Again

James Waddell, a senior global gas analyst at London-based Energy Aspects, said severe cold, production outages, shipping constraints and a scramble to find supplies are just a few of the myriad factors that have blown into the perfect storm behind a meteoric rise in Asian liquefied natural gas (LNG) prices.  As the historic rally continues,…

January 14, 2021
Ontario Energy Board Looks to Close Gaps in Natural Gas Distribution Networks

Ontario Energy Board Looks to Close Gaps in Natural Gas Distribution Networks

Up to 44,000 potential customers qualify for an Ontario subsidy program created to cover costs of natural gas service expansions, says the Canadian province’s utility regulator. The Ontario Energy Board (OEB) identified the aid candidates with a review of regional gaps in natural gas distribution networks. The inquiry generated a list of 210 eligible projects.…

December 29, 2020
Shell to Write Down Assets for Third Time This Year

Shell to Write Down Assets for Third Time This Year

Royal Dutch Shell plc expects to write down between $3.5 billion to $4.5 billion during the fourth quarter because of impairments, asset restructuring and onerous contracts. It would be the third time this year the Anglo-Dutch supermajor has written down assets. In a fourth quarter update, Shell said it expects to take a partial impairment…

December 29, 2020
Shell Streamlines Portfolio with Minority Stake Sale in Australian LNG Facility

Shell Streamlines Portfolio with Minority Stake Sale in Australian LNG Facility

Royal Dutch Shell plc is simplifying its portfolio with an agreement to sell a minority interest in the Queensland Curtis liquefied natural gas (QCLNG) common facilities to Global Infrastructure Partners Australia for $2.5 billion. Shell subsidiary QGC Common Facilities Company Pty Ltd. is selling a 26.25% stake in the QCLNG facility, which includes LNG storage…

December 21, 2020
LNG Could Drive $11 Billion of Australian Natural Gas Project FIDs in 2021, Says Wood Mackenzie

LNG Could Drive $11 Billion of Australian Natural Gas Project FIDs in 2021, Says Wood Mackenzie

As the pandemic eases and the global economy recovers, $11 billion of Australian natural gas projects could be sanctioned as soon as next year, according to a report released this month by consultancy Wood Mackenzie. The country has helped drive growth in global liquefied natural gas (LNG) supplies in recent years and exports are expected…

December 21, 2020
In Nod to Shareholders, ExxonMobil Aims to Slash GHG Emissions by Double-Digits

In Nod to Shareholders, ExxonMobil Aims to Slash GHG Emissions by Double-Digits

ExxonMobil on Monday announced more ambitious goals to reduce greenhouse gas (GHG) emissions over the next five years only a week after a group of shareholders called for an overhaul of strategic goals. The Irving, TX-based supermajor also expects to meet a 2020 forecast set two years ago to cut global methane emissions by 15%…

December 18, 2020
Reliance, BP Ramp Up First of Three Massive Natural Gas Fields Offshore India

Reliance, BP Ramp Up First of Three Massive Natural Gas Fields Offshore India

BP plc and Reliance Industries Ltd. have ramped up production from the first of a trio of ultra-deepwater natural gas fields offshore India that could meet the country’s rapidly expanding energy needs and reduce the need for imports. The R Cluster project in Block KG D6 is about 60 kilometers (37 miles) off the east…

December 18, 2020
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