International

Nigeria is working to develop floating LNG (FLNG) facilities to further monetize the country’s huge natural gas reserves and avoid the sort of issues it’s had with a six-train facility onshore.  Earlier this month, Golar LNG Ltd. joined Nigeria-based UTM Offshore Ltd. to develop an offshore liquefaction project after agreeing to new terms with state-owned…

Crescent Point Energy Corp. is dropping out of the Bakken Shale with a $500 million private sale, casting off its North Dakota assets to concentrate on unconventional natural gas in Western Canada. The Calgary-based independent said the transaction is with Kraken Resources, a portfolio company of private equity investor Kayne Anderson Capital Advisors. The package…

A collision of two vessels in the Suez Canal hasn’t disrupted LNG traffic between the Atlantic and Pacific basins, but slight delays on the critical waterway could help add to shipping times as U.S. cargoes continue to shift from the Panama Canal. The Suez Canal Authority reported Wednesday a stop in traffic on the channel…

Woodside Energy Group Ltd. is considering whether to take one of the five LNG trains connected to its North West Shelf (NWS) Project offline as it works to attract more third-party natural gas partners. In its half-year results, Australia’s largest energy company disclosed the NWS partnership was assessing the cost saving benefits of placing one…

Germany, Europe’s largest natural gas user, will continue to be at risk of supply shortfalls for the next four years until additional gas storage capacity and LNG terminals can be placed online, according to the country’s gas storage system operator. System operator Initiative Energien Speichern eV’s (INES) forecasters plotted outcomes for “normal, warm and cold…

North American completions expert Calfrac Well Services Ltd. leveraged its diverse geographical footprint during the second quarter to overcome lost operating days wrought by Canada’s wildfires and manage the “uncontrollable events.”  The move was prescient, allowing the Calgary-based pressure pumper to avoid pitfalls from the numerous wildfires that continue to sweep Canada. Operations are centered…

Spot rates for LNG vessel charters are rising sooner than last year as natural gas buyers and sellers hone in on the winter supply scenario and global risks that still abound. Spot vessel rates for liquefied natural gas deliveries east of the Suez canal reached about $100,000/day Friday for the first time since January and…

Cheniere Energy Inc. has inked a sales and purchase agreement (SPA) with chemical giant BASF SE as it continues commercializing the next proposed expansion of the Sabine Pass LNG terminal. BASF agreed to buy 0.8 million metric tons/year (mmty) for at least 17 years on a free-on-board basis, plus a fixed liquefaction fee. Initial deliveries…

Global exploration spending for natural gas and oil prospects, minus the appraisal costs, is set to recover from historic lows as operators “become bolder in the coming years,” according to Wood Mackenzie. Spending by the exploration and production (E&P) sector, minus the appraisal costs, is set to average about $22 billion over the next five…