International

Demand for U.S. Natural Gas Exports to Surge Through 2021, EIA Says

Demand for U.S. Natural Gas Exports to Surge Through 2021, EIA Says

With robust demand from both Europe and Asia for U.S. supplies of liquefied natural gas (LNG) and strong levels of pipeline deliveries to Mexico, the Energy Information Administration (EIA) forecasted that U.S. gas exports would exceed imports by an average of 11.0 Bcf/d in 2021. That would mark a nearly 50% jump from the 2020…

August 16, 2021
Golar LNG Eyes Shipping Spin-Off as Upstream Emphasis Grows

Golar LNG Eyes Shipping Spin-Off as Upstream Emphasis Grows

Bermuda-based liquefied natural gas (LNG) specialist Golar LNG Ltd. may spin off its shipping unit amid a positive outlook for freight rates. CEO Karl Fredrik Staubo said recently strong demand in Asia, along with new International Maritime Organization decarbonization rules that would cut the number of active older LNG carriers starting in 2023, is likely…

August 13, 2021
United States Led Global LNG Exports Higher Through May, IEA Says

United States Led Global LNG Exports Higher Through May, IEA Says

Natural gas consumption continued to increase across the world in May and exports were up to meet demand, according to the International Energy Agency (IEA). IEA in its latest monthly report said gross natural gas consumption increased 7.4% year/year to 125.9 million cubic meters (MMcm) in developed nations, defined as the Organization for Economic Cooperation…

August 12, 2021
U.S. Petroleum Demand Tapers, Output Ticks Up; White House Calls for OPEC-Plus Production Hike

U.S. Petroleum Demand Tapers, Output Ticks Up; White House Calls for OPEC-Plus Production Hike

Demand for U.S. petroleum eased last week after strong summer gains overall, while domestic production inched up but held far below pre-pandemic levels. Stockpiles of U.S. crude decreased slightly, however, as imports also declined, the U.S. Energy Information Administration (EIA) said Wednesday. Commercial oil inventories in the week ended Aug. 6 — excluding those in…

August 12, 2021

Canada Imported Cheaper, Lower Volumes of U.S. Oil Amid Covid Pandemic

The Covid-19 pandemic cut the volume and value of Canadian oil imports from the United States but did not stop the northbound flows, according to the Canada Energy Regulator (CER) and IHS Markit. Canadian imports from the United States fell 20% year/year in 2020, to 550,000 b/d from 693,000 b/d in 2019 before global oil…

August 12, 2021
Japan’s Draft Energy Plan Could Squeeze LNG Importers, but U.S. Suppliers ‘Still in the Game’ — LNG Spotlight

Japan’s Draft Energy Plan Could Squeeze LNG Importers, but U.S. Suppliers ‘Still in the Game’ — LNG Spotlight

Japan’s latest efforts to decarbonize could leave the liquefied natural gas (LNG) sector in the lurch as the nation looks to further reduce the share of fossil fuels in its energy mix by 2030. A draft plan unveiled by the government last month would see the nation reduce the share of fossil fuels in its…

August 11, 2021
Ensign Cuts Marketed Rigs by 15% as Oil, Natural Gas Drilling Still Lagging

Ensign Cuts Marketed Rigs by 15% as Oil, Natural Gas Drilling Still Lagging

Oil and gas drilling still lags behind the financial recovery recorded by production companies for the first six months of this year, according to a prominent Calgary field contractor that runs rig fleets in Canada, the United States and overseas. “Operating and financial results continue to show residual impacts resulting from the events of 2020,”…

August 10, 2021
Poor Americans Said Likely to Bear Brunt of Transition from Natural Gas to Renewables

Poor Americans Said Likely to Bear Brunt of Transition from Natural Gas to Renewables

Campaigns to shift consumers away from natural gas and toward renewables such as solar and wind are directed at substantial environmental benefits. However, the process could exact a punishing financial toll on poor Americans, a new study found. Research co-authored by Catherine Hausman, an associate professor at the University of Michigan, and economist Lucas Davis…

August 10, 2021
New Fortress Lands More Brazilian Customers on Natural Gas Shortages, Record Imports

New Fortress Lands More Brazilian Customers on Natural Gas Shortages, Record Imports

New Fortress Energy Inc. said it had few issues in the second quarter signing up customers for liquefied natural gas (LNG) and power generation assets that it is developing in Brazil, where energy demand has set records this year.  NFE said it inked eight sales agreements for 5.8 million gallons/day of LNG to underpin import…

August 10, 2021
Global Natural Gas Prices Slip After Record-Setting Stretch — LNG Recap

Global Natural Gas Prices Slip After Record-Setting Stretch — LNG Recap

Natural gas prices across the world tumbled on Monday, correcting after a stretch of gains that saw some benchmarks again set records last week. In Europe, prices closed lower across the curve. The Title Transfer Facility hit a record last week, when the prompt contract finished at nearly $15/MMBtu. Pipeline imports were largely stable on…

August 9, 2021