International

Oil and natural gas activity in the global offshore and on international land carried Houston-based NOV Inc. during the third quarter, as the North American onshore market retreated, CEO Clay Williams said Friday. During a conference call to discuss quarterly results, Williams said the oilfield technology specialist improved revenues and margins on the backs of…

The International Energy Agency (IEA) is projecting that global demand for natural gas will start to dip by the end of this decade, but should remain strong and near a historic peak through 2050. In its latest 350-page annual World Energy Outlook (WEO), researchers said that for the first time in the history of the…

The European Union’s (EU) energy regulatory agency has recommended bloc members continue reducing natural gas consumption in the short-term and prioritize energy projects that cut future demand. Since European natural gas prices rose to peak levels last summer, the region’s supply and demand balance has found an uneasy equilibrium thanks to demand reduction policies and…

The war in Ukraine and years of underinvestment have placed the global natural gas market in an “unstable equilibrium” that could linger for decades without additional funding for upstream production and LNG infrastructure, according to the International Gas Union (IGU). In its annual Global Gas Report, the IGU and contributors from Rystad Energy AS and…

Woodside Energy Group Ltd. reported one of its projects to expand Australian LNG exports is almost half done, but CEO Meg O’Neill said the country’s regulatory process could be undercutting the firm’s ability to secure foreign investment and domestic natural gas supply. As part of the firm’s third quarter earnings release, O’Neill said construction activity…

QatarEnergy has inked another long-term deal to provide LNG for Europe as Eni SpA continues to replace Russian natural gas supplies. The Italian supermajor has agreed to buy up to 1 million tons (Mt) annually, or the equivalent of about 53 Bcf/year, of liquefied natural gas for 27 years from QatarEnergy’s North Field East (NFE)…

European natural gas prices inched higher Monday as the threat of a broader conflict in the Middle East offset a warmer forecast and ample supplies on the continent.  The December Title Transfer Facility (TTF) contract added about a nickel and again finished above $17/MMBtu. TTF is about 30% higher than it was before Israel declared…

Future prospects for Russia’s largest natural gas producer, Gazprom PJSC, are challenging as it works to outpace both foreign sanctions and domestic competition from independent firms. Unhappy over the Kremlin granting an LNG export license to Russia’s second largest natural gas producer, PAO Novatek, Gazprom told Russian regulator’s the Murmansk liquified natural gas project would…

The island nation of Trinidad and Tobago is aiming to take a “significant step forward” in gathering Venezuelan natural gas to support domestic demand and LNG exports after the United States granted an amended license, according to Energy Minister Stuart Young. In a press conference late Tuesday, Young said he expects to complete negotiations with…