The German government has agreed to take a 30% stake in Uniper SE with a capital infusion to bailout the giant utility, which has suffered from natural gas supply cuts and soaring prices. Uniper’s CEO Klaus-Dieter Maubach said the deal would preserve the company’s “system-critical” role for Germany’s energy supply. The country is the largest…
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Woodside, Santos Power Through Natural Gas Market Volatility for Another Strong Quarter
Australia’s largest independent natural gas and oil producers honed in on optimizing value for LNG exports and progressing gas field development projects in the second quarter while navigating domestic supply shortages. The recently renamed Woodside Energy Group Ltd. and Santos Ltd. both reported continued elevated pricing for liquefied natural gas (LNG) despite demand destruction in…
Asian Spot Prices Decline, LNG Shipping Rates Soften in Mixed Week for Global LNG Market
HOUSTON (ICIS) – Asia spot LNG prices have fallen this week, with the September ’22 ICIS East Asia Index (EAX) down more than 9% on 21 July from one week ago. The EAX has declined in recent days after peaking above $40/MMBtu.
Canadian LNG Filing Shows Passing Grade on Gas Export Stress Test
North America’s natural gas supply is passing a stress test created by the war between Russia and Ukraine, showing that more LNG can be exported without jeopardizing consumer needs, according to an industry filing at the Canada Energy Regulator (CER). “Gas markets are functioning,” said sponsors of the Ksi Lisims LNG liquefied natural gas export…
Chinese LNG Imports to Tumble 14% By Year’s End, Says Wood Mackenzie
Global energy researchers are forecasting China, the world’s largest LNG importer, is on track to record the largest year-to-year drop in volumes since it started importing the super-chilled gas. Citing unprecedented liquefied natural gas market volatility and inflationary pressure, Wood Mackenzie recently predicted China’s imports would drop 14% by the end of the year. That…
Nord Stream 1 Resumes Natural Gas Deliveries to Europe, but Supply Risks Remain High
Natural gas started flowing to Europe again on the Nord Stream 1 (NS1) pipeline Thursday after 10 days of maintenance, but flows could be cut further if key equipment to run the system at a higher capacity is not returned by next week. Nord Stream AG said it successfully completed annual maintenance on the system.…
Kinder Aiming to Expand Natural Gas Transportation Business for Booming LNG Sector
Kinder Morgan Inc. is prepared to invest more in the near term as it aims to grow its market share of natural gas deliveries to U.S. LNG export facilities. During a Wednesday call with investors, CEO Steven Kean said Kinder has around 7 Bcf/d currently contracted on its pipelines to serve liquefied natural gas export…
Cheniere Previews Future Corpus Christi LNG Growth with 1.8 MMty PetroChina SPA
Cheniere Energy Inc. announced it has inked an additional long-term LNG offtake contract with PetroChina Co. Ltd., building on its supply agreement hot streak and teasing its next generation of projects. Houston-based Cheniere has signed a 1.8 million metric ton/year (mmty) sales and purchase agreement (SPA) with existing customer, PetroChina. According to the SPA, liquefied…
Driftwood LNG Construction Permit Challenged by Environmental Groups
Environmental advocates have filed another challenge against Tellurian Inc.’s proposed Driftwood LNG project, this time in the form of a petition against the U.S. Army Corps of Engineers (USACE). The Sierra Club and New Orleans-based advocacy group Healthy Gulf have filed a petition in the U.S. Court of Appeals for the Fifth Circuit asking for…
Baker Hughes Sees Years of Growth in U.S. Natural Gas, LNG Sectors
Baker Hughes Co. (BKR) management on Wednesday offered a bullish assessment of natural gas growth opportunities but conveyed a more measured outlook for the oil market. “Overall, we remain very positive on the outlook for natural gas,” Baker Hughes’ CEO Lorenzo Simonelli told analysts during the oilfield services (OFS) giant’s 2Q2022 earnings call. “We also…