International

Natural Gas Futures Tumble as Weather Data Backs off Upcoming Cold, Adds Warmth

Natural Gas Futures Tumble as Weather Data Backs off Upcoming Cold, Adds Warmth

A chillier weekend forecast lifted natural gas futures back above $4.000/MMBtu early in Monday’s session. The gains, however, were not to last as subsequent weather data backed off the cold and sent the January Nymex gas futures contract tumbling 13.1 cents to $3.794. February slid 12.8 cents to $3.761. Spot gas prices were higher to…

December 13, 2021
Global E&P Capex in 2022 Led by U.S. E&Ps, with Privates Playing ‘Outsized Role’

Global E&P Capex in 2022 Led by U.S. E&Ps, with Privates Playing ‘Outsized Role’

The U.S. exploration and production (E&P) sector is increasing its capital spending in 2022 for the first time in four years, while Canada is set to remain near multi-decades lows, according to Evercore ISI. Global E&P capital expenditures (capex) are poised to climb by 16% year/year (y/y) in 2022, extending 5.5% growth in 2021 “for…

December 13, 2021
Global Natural Gas Prices Soar as Supply Fears Amplify — LNG Recap

Global Natural Gas Prices Soar as Supply Fears Amplify — LNG Recap

Natural gas prices in Europe and Asia soared Monday as supply concerns deepened and the regions are seen competing for liquefied natural gas (LNG) cargoes beyond the winter. British and Dutch front-month futures gained nearly $3 each to finish above $38/MMBtu, hitting levels not seen in months. Asian spot prices, meanwhile, gained almost $2 to…

December 13, 2021
Excelerate Starts LNG Operations in Bahia as Brazil Imports Boom

Excelerate Starts LNG Operations in Bahia as Brazil Imports Boom

Floating specialist Excelerate Energy has started delivering natural gas to the Brazilian market at the Bahia regasification terminal in Salvador, Bahia. Excelerate’s floating, storage and regasification unit (FSRU) Excelerate Sequoia has an LNG storage capacity of 173,400 cubic meters. Excelerate and Brazilian state oil company Petróleo Brasileiro (Petrobras) signed the lease contract at the end…

December 13, 2021
Jera Moves to Secure Additional LNG Supplies by Taking Stake in Barossa Project

Jera Moves to Secure Additional LNG Supplies by Taking Stake in Barossa Project

Japan’s largest power producer, Jera Co. Inc., said it would take a 12.5% interest in the Barossa natural gas project offshore Australia’s Northern Territory as it continues to secure additional liquefied natural gas (LNG) supplies. Santos Ltd. sanctioned the $3.6 billion project earlier this year to develop the Barossa field to supply the Darwin LNG…

December 8, 2021
U.S. Energy Exports to Canada Hit Four-Year Low in 2020, EIA Says

U.S. Energy Exports to Canada Hit Four-Year Low in 2020, EIA Says

As Covid-19 depressed petroleum demand, the value of the energy trade between the United States and Canada fell sharply from 2019 to 2020, according to the U.S. Energy Information Administration (EIA). Citing U.S. Census Bureau data, EIA said the value of domestic energy imports from Canada fell 31% in 2020 compared with the previous year.…

December 8, 2021
Aramco Sells 49% Stake in Natural Gas Infrastructure in $15.5B Deal with BlackRock-Led Consortium

Aramco Sells 49% Stake in Natural Gas Infrastructure in $15.5B Deal with BlackRock-Led Consortium

Saudi Arabian Oil Co., aka Aramco, on Tuesday agreed to take $15.5 billion for a 49% interest  in its natural gas pipeline infrastructure to a consortium led by BlackRock Inc. In the transaction, newly formed Aramco Gas Pipelines Co. would have lease and leaseback usage rights of the network over a 20-year period. BlackRock clinched…

December 7, 2021
Trans Mountain Resumes Service Following BC Floods

Trans Mountain Resumes Service Following BC Floods

Oil and refined products flows resumed Sunday through Trans Mountain Pipeline after a three-week suspension of deliveries as a safety precaution during floods in southern British Columbia. “The restart comes following completion of all necessary assessments, repairs, and construction of protective earthworks needed for the pipeline to be returned to service,” said the Calgary firm.…

December 7, 2021
Natural Gas Futures Spiral Lower as Warmth Seen Lingering Through Early January; Cash Mixed

Natural Gas Futures Spiral Lower as Warmth Seen Lingering Through Early January; Cash Mixed

It won’t be death by a thousand cuts for natural gas. It’ll be far less than that after an increasingly bearish December weather outlook slashed another hefty chunk off natural gas prices to start the week, leaving prompt-month prices down about $1.20 since last Monday (Nov. 29). With production recovering from recent lows and sitting…

December 6, 2021
Aramco’s Jafurah Natural Gas Field Set to Produce 2.2 Bcf/d by 2030

Aramco’s Jafurah Natural Gas Field Set to Produce 2.2 Bcf/d by 2030

Saudi Arabia, the world’s largest oil producer, has ramped up development at the natural gas-rich Jafurah field in the Eastern Province, considered the largest unconventional field of its kind in the Kingdom. State-owned Saudi Arabian Oil Co., aka Aramco, secured regulatory approval in early 2020 to develop the mega field, which holds an estimated 200…

December 1, 2021
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