LNG Insight

TotalEnergies SE is withdrawing its representatives on PAO Novatek’s board and said it would stop accounting for its 19.4% stake in the company.

Commodity trader Trafigura Group Pte. Ltd. said Thursday the outage at the Freeport LNG terminal in Texas has removed much needed supply and “significant flexibility” from its portfolio, but said the scale of its operations have offset issues and helped it turn in record profits for 2022. Trafigura, a dominant trader in the global liquefied…

EnBW Energie Baden-Württemberg AG has made a long-term commitment for 3 billion cubic meters (Bcm)/year of LNG regasification capacity at the developing terminal in Stade, Germany, securing a home for its influx of U.S. supply intended to decrease reliance on Russia. EnBW disclosed Thursday it has secured capacity for more than 10 years in an…

Japan’s Ministry of Economy, Trade and Industry (METI) is planning a strategic LNG reserve to ensure the country has enough natural gas to meet domestic demand as global competition ramps up.  METI’s proposal is primarily aimed at preventing gas shortages and preparing Japan, one of the world’s largest buyers of liquefied natural gas, for battling…

Baker Hughes Co. and Technip Energies have set the groundwork to develop next-generation modular LNG systems to bring plug-and-play facilities online more quickly. The memorandum of understanding would allow the two global giants to jointly work on modular solutions for up to 2 million metric tons/year (mmty) of liquefied natural gas.  The modules would complement…

The U.S. government has committed to exporting up to 353 Bcf of natural gas to the UK next year as part of a strategic partnership aimed at strengthening commodity markets in Europe. As a part of the initiative disclosed Wednesday, called the UK-US Energy Security and Affordability Partnership, the countries have formed a joint action…

A third LNG vessel, the Grace Fressia, has declared Freeport LNG as its destination with an estimated arrival sometime around Dec. 20, according to ship-tracking data from Kpler.

Saudi Arabia’s Ministry of Energy has announced two discoveries by state-controlled Saudi Arabian Oil Co. (Aramco) that officials said could help it continue to build natural gas reserves for domestic use. Energy Minister Abdulaziz bin Salman Al Saud called the discoveries an important part of “increasing the kingdom’s natural gas reserves” and helping Saudi Arabia…

Bitter cold forecast for parts of Europe this week is set to bring the first major test of the winter heating season for the continent’s gas market and its robust storage inventories.  The UK’s National Balancing Point and the Dutch Title Transfer Facility (TTF) both gained about 3% on Tuesday and settled above $40/MMBtu. The…