International

Gunvor Group Ltd. has agreed to employ four newbuild liquefied natural gas (LNG) carriers as the trading house looks to cut emissions tied to its operations.  Subsidiary Clearlake Shipping is securing long-term time charters with Monaco-based shipowner Celsius Tankers. Celsius expects to take delivery of the new vessels from Samsung Heavy Industries Co. Ltd. (SHI)…

Qatar’s state-owned oil and natural gas company has announced entry into the Canadian energy patch by picking up a 40% share in a suspended ExxonMobil Canada Ltd. drilling project 270 miles offshore of the Newfoundland capital, St. John’s. QatarEnergy, formerly Qatar Petroleum, described the deal as gaining a foothold in an established producing region by…

EIG Global Energy Partners, a private equity firm that specializes in investments in energy infrastructure, agreed on Monday to pay Origin Energy Ltd $1.59 billion for a minority stake in Australia Pacific LNG Pty Limited, a joint venture with ConocoPhillips and Sinopec.   The liquefied natural gas (LNG) project is the largest by liquefaction capacity on…

Russia has factored heavily into the global dialogue surrounding this year’s energy shortages, particularly as it relates to the country’s role as the leading supplier of natural gas to Europe. Weather patterns, supply chain issues, production outages and the pandemic, among other things, have collided to create shortages of everything from coal and natural gas…

Natural gas futures aimed for the sky on Monday as a much colder turn in the weekend weather models catapulted prices. Aided by a sharp increase in liquefied natural gas (LNG) demand, as well as upcoming contract expirations, the November Nymex gas futures contract jumped 61.8 cents to $5.898. December shot up 59.5 cents to…

The UK government has unveiled an ambitious strategy to reach net-zero greenhouse gas emissions by 2050 that would significantly curb reliance on oil and natural gas without phasing them out completely.  The nearly 400-page plan details policies and proposals that build on a “Ten Point Plan” released last year by Prime Minister Boris Johnson. The…

U.S. crude inventories declined for the first time in four weeks as demand for gasoline and other fuels derived from oil bounced back and imports and production slid lower. The U.S. Energy Information Administration (EIA) said Wednesday oil inventories for the week ended Oct. 15, excluding those in the Strategic Petroleum Reserve, decreased by 400,000…

Venture Global LNG Inc. has signed two long-term sales and purchase agreements to supply state-owned China Petroleum & Chemical Corp., aka Sinopec, with liquefied natural gas (LNG) from its Plaquemines export terminal under development in Louisiana.  Sinopec agreed last month to purchase 2.8 million metric tons/year (mmty) on a free-on-board (FOB) basis in one deal…

Argentina’s government has launched a natural gas tender to try to shore up domestic supply starting in the Southern Hemisphere winter in 2022. The majority of the gas would come from the Neuquén Basin, home to the massive Vaca Muerta formation. Energy Secretary Darío Martínez said the objective of the tender — part of the…