In an effort to be more inclusive of tribal communities, the British Columbia government has modernized and grown its BC Oil and Gas Commission that supervises northern shale drilling. The renamed British Columbia Energy Regulator (BCER) will consist of five to seven members, up from three, with a mandate to include tribal representation. Tribal representatives…
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Qatar Moves Ahead with International Growth in Race to Lead Global LNG Trade
QatarEnergy is continuing work to expand its LNG portfolio outside Qatar, acquiring regasification assets and stakes in global energy projects to achieve “a globally diversified portfolio of third party and equity LNG.” The work follows the state-owned company’s rebranding from Qatar Petroleum to QatarEnergy in 2021 and the formation of a global trading arm in…
Netherlands Rules Out Another FSRU, but Continues Efforts to Boost LNG Import Capacity
Dutch transmission system operator NV Nederlandse Gasunie said this week it continues to explore ways to boost LNG import capacity in the Netherlands, including expanding existing facilities in Rotterdam and Eemshaven. At the same time, the company said a study indicated that a new floating storage and regasification unit (FSRU) in the port of Terneuzen…
Flex LNG Expects ‘Massive’ Henry Hub Arbitrage to Keep Fueling U.S. LNG Expansions
Despite sliding global LNG prices over the past several months, Flex LNG Ltd. management said heightened European and Asian prices compared to Henry Hub are expected to continue driving U.S. infrastructure investment through the middle of the decade. During an earnings call Tuesday, CEO Oystein Kalleklev said falling liquefied natural gas prices during the fourth…
TC Energy Eyeing 30% Capex Increase Driven by U.S., Canada, Mexico Natural Gas Pipelines
TC Energy Corp. is forecasting a roughly 30% year/year increase in capital expenditures (capex) this year, with the lion’s share allocated for natural gas pipeline expansions in the United States, Canada and Mexico. Calgary-based TC, which reports in Canadian currency (C$1.00/US 75 cents), has set a capital budget of $11.5-12 billion for 2023, up from…
South Korea’s Nuclear Power Plans Leave Room for LNG Import Growth
South Korea, the third largest global LNG importer in 2022, will continue to rely on the super-chilled fuel despite the country’s latest plans to increase the amount of nuclear and renewables used for power generation. Since President Yoon Suk-yeol took office in 2020, the government has reversed his predecessor’s policy of phasing out nuclear power.…
Atop Natural Gas Cuts, Russia Warns Oil Production Pullback Coming
Russia said it would cut its roughly 10 million b/d oil production by 5% in retribution of Western sanctions amid the Kremlin’s nearly year-long war in Ukraine. The decision follows steps by Russia in 2022 to slash the bulk of natural gas exported via pipeline to the European Union (EU) – moves that hastened calls…
Freeport LNG Loads Cargoes, Requests Approval to Start All Three Liquefaction Trains – LNG Recap
The first cargo has departed Freeport LNG since a June fire knocked the plant offline and a second has been loaded at the terminal, which has also asked federal regulators to move ahead with full commercial operations on the first phase of its restart plan. The BP plc-chartered Kmarin Diamond left with a partial cargo…
Coastal GasLink Natural Gas Pipeline Facing More Cost Overruns Amid List of Challenges
TC Energy Corp. has again revised upward the expected cost of the Coastal GasLink (CGL) natural gas pipeline in Western Canada, citing challenges on multiple fronts. TC now expects the project to cost C$14.5 ($10.9 billion), up from C$11.2 billion ($8.4 billion) forecast in its third quarter 2022 earnings report. “The project continues to face…
Adnoc Natural Gas, LNG IPO Seen as ‘Highly Feasible’ Amid Broader Expansion Plans
Abu Dhabi National Oil Co. (Adnoc) is advancing plans to launch an initial public offering (IPO) that would combine the United Arab Emirates’ (UAE) largest natural gas companies as part of a broader plan aimed at attracting more foreign investors and funding for long-term projects. “Natural gas will be a critical fuel in the energy…