A federal appeals court has upheld FERC’s approval of the Alaska LNG project, denying a new challenge from environmental groups that sought to halt the 2.6 Bcf/d facility’s advance. On Tuesday, the U.S. Court of Appeals for the District of Columbia Circuit (DC Circuit) “denied in part and dismissed in part” an appeal from the…
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QatarEnergy Awards EPC Contract for North Field South LNG Project – The Offtake
QatarEnergy has awarded a $10 billion engineering, procurement and construction (EPC) contract for its North Field South (NFS) LNG expansion project to Technip Energies NV and Consolidated Contractors Co.
Japanese LNG Market Still Key to U.S. Gas Flows Despite Weak Demand – Column
Japanese demand historically has been the driving force behind most LNG industry developments since its inception. Lacking domestic resources, Japan’s industrial expansion in the latter half of the 20th century was dependent upon establishing energy security through overseas procurement.
Power Burn Expected to Lift U.S. Natural Gas Prices This Summer, EIA Says
Domestic natural gas consumption for power generation this summer will be among the highest on record, second only to last summer, according to projections from the Energy Information Administration (EIA). In its latest Short-Term Energy Outlook (STEO), published last week, the agency said it expects U.S. natural gas consumption for electricity generation to average 38…
Cheniere Inks 0.4 MMty Deal with South Korean Utility for Sabine Pass Expansion
Cheniere Energy Inc. has signed a long-term sales and purchasing agreement with Korea Southern Power Co. Ltd (KOSPO) that could eventually help underpin its proposed expansion of Sabine Pass LNG. Earlier in the month, Cheniere management told investors during a first quarter call it had secured a more than 20-year deal with an Asian customer…
Buyers and Sellers Find Matches on European Union’s Joint Natural Gas Purchasing Platform
European Union (EU) natural gas buyers and sellers found a match under the new AggregateEU platform launched by the European Commission (EC) for joint gas purchases. The platform was created last year to help avoid the price hikes seen last summer in Europe and to reduce reliance on Russian pipeline imports. Out of the total…
Venture Global Starts Regulatory Process for Fourth Natural Gas Export Project While Progressing CP2 LNG
In a flurry of agreements and filings this month, Venture Global LNG Inc. progressed development of its proposed CP2 LNG project and a fourth export facility proposed for Louisiana. After landing a series of supply deals this year for the first phase of its 20 million metric ton/year CP2 LNG project, the Virginia-based liquefied natural…
Oversupplied Market Keeps Lid on Asian, European Natural Gas Prices – LNG Recap
Natural gas prices in Europe and Asia fell again on Monday, continuing six consecutive weeks of losses as both markets are well supplied and demand remains muted. The Title Transfer Facility (TTF) prompt contract gave up another 1% Monday to finish again near $10/MMBtu after declining by 12% last week. Winter prices further out the…
Global Natural Gas Demand Projected to Decline Through Remainder of Year, IEA Says
Global natural gas demand is expected to remain flat in 2023 with modest growth in the Asia-Pacific region offset by projected declines in Europe and North America, according to the International Energy Agency (IEA). The world’s natural gas consumption declined 1.5% year/year in 2022, driven largely by a sharp increase in prices after Russia invaded…
Lackluster Weather Demand Crushes Summer Natural Gas Prices in New England
Natural gas forward prices found some footing during the May 4-10 period as the majority of U.S. locations were supported by strong power burns and easing production, according to NGI’s Forward Look. Key Northeast markets, however, continued to slide ahead of a multi-week span of mild weather that may expand already plump storage inventories in…