Natural gas demand has not slowed, and that’s helping to grease the skids for export contracts, ExxonMobil CEO Darren Woods said Wednesday. During a webcast to discuss capital spending and projected plans, Woods was asked about the company’s opportunities in the global LNG export market. The integrated major is a partner in several big gas…
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Chesapeake Working to Diversify LNG Supply Deals, Gain Price Exposure in Asia, Europe
While Chesapeake Energy Corp. works to finalize its natural gas supply deals with LNG buyers, management says it’s narrowing down opportunities to link more of its Haynesville and Marcellus shale supply to international benchmarks in the months to come. Chesapeake currently has tentative agreements with liquefied natural gas traders that could link up to 3…
Canada Says ‘Hold My Labatt’ After U.S. Methane Rules Finalized
Canada has unveiled draft regulations to curb methane pollution from the oil and natural gas sector, coinciding with the finalization of similar rules by the U.S. Environmental Protection Agency. The proposed federal regulations, presented during the Global Methane Pledge Ministerial at the 28th Conference of the Parties climate summit in Dubai, are designed to help…
Italy’s Snam Purchases Second FSRU Ahead of 2025 Start-up
As major import capacity gains in Europe continue to change the regional market, Italy’s Snam SpA has completed the purchase of the floating storage and regasification unit (FSRU) BW Singapore ahead of its start-up on the eastern Italian coast in 2025. Snam disclosed it paid BW LNG $400 million for the 5 billion cubic meters/year…
OPEC-Plus Oil Cuts May Drive U.S. Associated Natural Gas Production Momentum, Dampen Prices
OPEC-plus, the consortium of major oil producers led by Saudi Arabia, agreed to a substantial production cut late last week that could bolster prices and fuel more demand for Permian Basin crude. This, by extension, could drive continued lofty levels of associated natural gas from the prolific basin. Associated gas, produced alongside oil, contributed to…
Algeria’s Growing Natural Gas Exports Could Prove Unsustainable – Column
Since last year, Europe’s oldest LNG provider has stepped in with a significant increase in supply during the continent’s hour of need to partially offset the loss of Russian natural gas imports.
Arc Resources Cuts Deal with Cheniere to Sell Natural Gas at Prices Linked to TTF
Arc Resources Ltd., one of Canada’s largest natural gas producers, said Wednesday it would send more volumes to Cheniere Energy Inc. for liquefaction and delivery to Europe. Under a gas supply agreement (GSA) signed with Cheniere, Calgary-based Arc said it would send 140,000 MMBtu/d to the Sabine Pass Liquefaction Stage 5 project in Louisiana for…
Four Australian LNG Import Projects Progress as Regional Natural Gas Shortages Loom
Australia’s domestic natural gas shortages on the largely populated east coast are helping fuel demand for four LNG import projects, placing one of the world’s largest gas exporters on track to become an importer by 2026. As fields that have typically fed domestic markets continue to decline, the supply outlook for Australia’s east coast declined.…
Delfin LNG Project Offshore Louisiana Close to FID After Gunvor Supply Deal
Delfin Midstream Inc. has signed another agreement to supply LNG from its proposed floating liquefaction project offshore Louisiana, in what management said is another step closer to a positive final investment decision (FID). The company signed a 15-year sales and purchase agreement (SPA) to supply 0.5-1 million metric tons/year (mmty) of liquefied natural gas to…
Energy Contractors Forecasting Growth for Canadian Oil and Natural Gas Drilling in 2024
The Canadian oil and natural gas well count – chiefly in Alberta, British Columbia and Saskatchewan – will rise to 6,229 in 2024 from 5,748 this year, according to an annual fall forecast by the Canadian Association of Energy Contractors (CAOEC). “A continuation of capital discipline within energy producers will create a ceiling on potential…