International

Fresh global recession fears have emerged amid intensifying inflation, rising interest rates and the specter of new pandemic-driven lockdowns in China that could further disrupt supply chains. A downturn could diminish demand for oil and natural gas after a robust start to 2022 fueled energy market rallies. Most recently, Chinese officials in Beijing on Monday…

Korea Gas Corp., aka Kogas, said Friday that it has signed a long-term contract to buy U.S. liquefied natural gas (LNG) from an affiliate of BP plc.  The company agreed to purchase 1.58 million tons (Mt) annually from BP Singapore Pte. Ltd. for an 18-year term at prices linked to Henry Hub. Kogas is one…

Liquefied natural gas (LNG) demand across Asia has weakened considerably in recent weeks, dragging down forecasts for global consumption this year and leaving less competition for European buyers eager to displace Russian energy supplies. “We are entering into negative territory,” said analyst Gergely Molnar of the International Energy Agency (IEA). The global energy watchdog expects…

U.S. oil production for the week ended April 15 climbed to 11.9 million b/d, setting a new highpoint for the year, the U.S. Energy Information Administration (EIA) said Wednesday. That marked a 100,000 b/d increase from the prior week and a notable bump from the level maintained through much of the first quarter, EIA’s latest…

Italy’s Eni SpA is expanding partnerships and exploration in some of its existing territories in order to boost natural gas deliveries to Europe. Eni announced it is working closely with the state-owned Egyptian Natural Gas Holding Co. to increase gas production and liquefied natural gas (LNG) exports from the country, with a specific target of…

The Netherlands will rely on increasing liquefied natural gas (LNG) imports instead of counting on domestic gas production from the Groningen field to help replace Russian imports.    The Dutch government has decided against increasing output from Groningen, which was under consideration as a way for Europe to refill natural gas storage and displace Russian supplies. …

Leaders of Baltic nations and their partners in the regional gas market have been increasingly signaling an end to Russian gas imports in support of a besieged Ukraine, but one of the area’s gas importers is raising red flags. A/S Latvijas Gāze, a Latvian importer and trader of natural gas, released a statement April 13…

Canada’s Trans Mountain Pipeline expansion (TMX) has reportedly reached “a major milestone” by passing its halfway mark to completion. The oil pipeline system reported that since August 2019, about 20,000 workers cleared 344 miles of right-of-way, laid 247 miles of pipe and made 32 trenchless river and stream crossings. “The way we are constructing this…

After weathering delays from the Covid-19 pandemic, construction preparations are starting for the liquefied natural gas (LNG) terminal on the Pacific Coast of British Columbia (BC) developed by Woodfibre LNG Ltd.  The Vancouver-based unit of Pacific Energy Corp Ltd. reported it has given the project’s contractor McDermott International Ltd. a limited notice to proceed on…