International

BP Expands Carbon-Offset LNG Trade to Asia-Pacific Region

BP Expands Carbon-Offset LNG Trade to Asia-Pacific Region

In its bid to build its market in the Asia-Pacific region, BP plc said it delivered its first carbon-offset liquefied natural gas (LNG) shipment to Taiwan. The shipment to Taiwan’s state-owned CPC Corp. by BP Singapore Pte. Ltd. arrived earlier this month at the Yung An terminal. Supply was sourced from BP’s LNG portfolio.  “Natural…

September 10, 2021
Fitch Raises Henry Hub, Euro Natural Gas Price Assumptions on Resurgent Demand, Supply Challenges

Fitch Raises Henry Hub, Euro Natural Gas Price Assumptions on Resurgent Demand, Supply Challenges

Fitch Ratings Inc. has substantially raised its Henry Hub and European natural gas price assumptions through 2022, citing “strong year-to-date prices, recovering demand and supply challenges.” “U.S. gas prices have…benefited from heightened weather-driven demand, as well as U.S. dry and associated gas production discipline,” the credit ratings analysts said, adding that liquefied natural gas (LNG)…

September 2, 2021
New Fortress Renews $766M LNG Project for Ireland with ‘Future-Proofed’ Hydrogen Option

New Fortress Renews $766M LNG Project for Ireland with ‘Future-Proofed’ Hydrogen Option

U.S. liquefied natural gas (LNG) developer New Fortress Energy Inc. is reviving plans to build a $766 million import terminal in Ireland, this time with a “future-proofed” design that would allow it to transition to hydrogen gas in the coming years. A spokesperson for New Fortress said last week the company plans to file a…

September 1, 2021
Momentum Growing for Monterrey Index in Latest Mexico Natural Gas Market Survey

Momentum Growing for Monterrey Index in Latest Mexico Natural Gas Market Survey

Mexico’s industrial center Monterrey was once again picked as the best location for a domestic price index in the fifth survey of the natural gas market undertaken by NGI’s Mexico GPI. The survey, conducted in August, received 30 responses from buyers and sellers in Mexico, compared to 23 for the March survey. While most natural…

August 31, 2021
Canadian PM Takes Hard Line on Oil, Natural Gas Emissions Ahead of Election

Canadian PM Takes Hard Line on Oil, Natural Gas Emissions Ahead of Election

Canadian Prime Minister Justin Trudeau has singled out the oil and gas industry as a target for toughened pollution policing in his campaign for reelection of his Liberal government in a Sept. 20 national vote. “Let’s be realistic,” said Trudeau as he unveiled an environmental plank in the party platform at a weekend rally in…

August 31, 2021
Enbridge Line 3 Wins Another Round as Water Permit Upheld by Minnesota Appeals Court

Enbridge Line 3 Wins Another Round as Water Permit Upheld by Minnesota Appeals Court

Minnesota pipeline foes on Monday lost the second round in their 11th-hour legal battles to halt Enbridge Inc.’s nearly complete Line 3 pipe replacement project. A three-judge panel of the Minnesota Court of Appeals upheld the project’s water permit. The approval by the Minnesota Pollution Control Agency (MPCA) “is not affected by legal error and…

August 31, 2021
LNG 101: The World’s Top Natural Gas Markets

LNG 101: The World’s Top Natural Gas Markets

As the global natural gas market has grown and become more liquid in recent years, its dominant suppliers and end-users have shifted as well.  For the past half century Japan has held the title of the world’s largest liquefied natural gas (LNG) buyer, but that’s poised to change this year. China is set to take…

August 30, 2021
Shell to Power Natural Gas Field Offshore Malaysia With Solar and Wind

Shell to Power Natural Gas Field Offshore Malaysia With Solar and Wind

The Timi field, a natural gas discovery sanctioned offshore Malaysia, is set to feature the nation’s first wellhead platform powered by a solar and wind system, according to Royal Dutch Shell plc. Shell subsidiary Sarawak Shell Berhad (SSB) announced a final investment decision for the sweet gas field discovered in 2018.  As designed, Timi could…

August 30, 2021
Natural Gas Futures Flip-Flop as Heat Seen Moderating Next Week, Beyond

Natural Gas Futures Flip-Flop as Heat Seen Moderating Next Week, Beyond

Natural gas futures slipped several notches Tuesday as export demand weakened a bit and the latest data showed more seasonal weather ahead. The September Nymex contract settled 4.9 cents lower day/day at $3.896. October slipped 4.4 cents to $3.916. Spot gas prices, however, continued to strengthen amid widespread heat and humidity across the country. NGI’s…

August 24, 2021
Gulf Coast Refiners Facing Hit to Bottom Line After Deadly Mexico Blast; WTI Crude Prices Rise

Gulf Coast Refiners Facing Hit to Bottom Line After Deadly Mexico Blast; WTI Crude Prices Rise

Oil prices rose on Tuesday after a fire on a Petróleos Mexicanos (Pemex) processing platform in the Gulf of Mexico slashed 421,000 b/d from Mexico’s oil supply. West Texas Intermediate (WTI) for October settled at $67.54 on Tuesday, up $1.90 day/day. “Bottom pickers jumped into the void on the open on Sunday night, and then…

August 24, 2021