International

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…

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…

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 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, 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.…

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…

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…

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…

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…