The Canadian government is proposing to assist natural gas and oil operators limit their emissions, including from planned LNG export projects. The limited proposal would concentrate aid to reduce greenhouse gas (GHG) emissions and provide benefits to native communities affected by supply projects. The proposal follows one by the Alberta and British Columbia (BC) governments,…
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Shell’s LNG Sales, Volumes Dip on Seasonal Impacts, but Uncertain Winter Ahead, CEO Says
Shell plc, the world’s leading LNG trader, reported mixed results in the second quarter, buffeted by lower natural gas realizations and volumes from a year ago. The Integrated Gas (IG) business, which includes liquefied natural gas trading and optimization, reported a 69% decline in profits year/year. LNG liquefaction volumes were flat at 7.17 million tons…
Baker Botts’ Bennett Says Question of U.S. LNG Capacity Isn’t How Much, but How Quickly
The U.S. LNG industry has appeared to emerge from a development slowdown after the Covid-19 pandemic to a boom in contracts and final investment decisions (FID) for new export projects thanks to global energy market disruptions. However, as the global market and supply chains continue adapting, rising hurdles for large-scale projects and the climate goals…
Europe’s Drop in Summer LNG Imports, Hefty Storage Could Still Spell Upside Risk in Winter
Europe’s hefty natural gas storage and diminished natural gas demand has led to months of decline in LNG imports, but global competition still presents an upside price risk for winter in a tightening market. European LNG imports dropped from May to June after peaking at 9.50 million tons (Mt) in April. However, the month-on-month decline…
EQT Advancing Gulf Coast LNG Strategy and Eyeing (Eventual) MVP Opportunities
EQT Corp., the nation’s largest natural gas producer, has snagged an agreement to supply the proposed Lake Charles LNG project in Louisiana with 1 million metric tons/year (mmty), or 135 MMcf/d, advancing a strategy to supply overseas markets with Appalachia production. In the heads of agreement (HOA) with sponsor Energy Transfer LP (ET), EQT said…
Argentina Sees Path Toward LNG Exports With Vaca Muerta Pipeline Online
Argentina’s natural gas pipeline offering additional takeaway capacity from the Vaca Muerta shale formation went into service earlier this month. The Gasoducto Presidente Néstor Kirchner pipeline was built in 10 months, “record time,” the Energy Secretariat said. Capacity on the pipeline is 25 million cubic meters/day (MMcm). The line stretches from the town of Tratayén…
Range’s Natural Gas to Play Key Role as LNG Demand Grows, Says CEO
Range Resources Corp., whose fortunes are tied to the Marcellus Shale, faced headwinds during the second quarter on weaker natural gas prices, but longer-term fundamentals are stronger as global demand grows, CEO Dennis Degner said Tuesday. The Fort Worth, TX-based Appalachian pure-play, a leading U.S. natural gas producer, expects natural gas and natural gas liquids…
UK Natural Gas Supply Secure Through 2050 with Mix of LNG, Renewables, National Grid Says
The UK should have stable natural gas supplies through 2050, but could see more frequent price spikes as its reliance on LNG grows its exposure to global demand, according to the country’s energy systems operator. In National Grid plc’s latest future energy scenario report, the firm reported the UK’s ability to secure “diverse sources of…
TTF Spikes Despite High Storage as Market Weighs Tightening LNG Supply – LNG Recap
European natural gas prices ticked up again on Monday despite healthy storage on the continent and an apparent lull in Asia, hinting at anxiety over falling LNG imports. Upward movement in European prices was previously expected to be limited for the rest of July after several key gas facilities in Norway wrapped up heavy maintenance…
Russia Still Counting on Asian Demand as Natural Gas Output, Exports Continue Falling
Moscow has revised its gas strategy repeatedly since western sanctions were placed on Russia last year after it invaded Ukraine, and it is counting on Asia as an export destination to replace the loss of Europe’s 150 billion cubic meter (Bcm) market. The Russian government revised pipeline export targets last month to increase deliveries to…