LNG Insight

Venture Global LNG Inc. has asked the Federal Energy Regulatory Commission for permission to ramp up construction at its Plaquemines LNG facility and associated pipeline project.

Shell plc will pay around $2 billion in additional UK taxes for the final period of 2022, but the cut to revenue won’t overcome strong profits from natural gas trading, the London-based major said Friday. In fact, Shell said in a trading update that it should record “significantly higher” earnings for 4Q2022 even with a…

European LNG offtakers in 2023 are expected to continue the flurry of contracting activity that closed out 2022, as more import infrastructure comes online, larger buyers recapitalize and policies become clearer. Since November, European buyers including Engie SA, Galp Energia SGPS SA, Ineos Group Ltd. and RWE AG have signed deals to buy U.S. liquefied…

Oil and natural gas output from two of China’s leading fields again crept upward last year, according to reports that cited data from China National Petroleum Corp. (CNPC) and China Petroleum and Chemical Corp. (Sinopec). Oil and gas production in the Tarim Oilfield, China’s largest ultra-deep onshore play, hit a record 33.1 million tons (Mt)…

Discounted pricing at the NOVA/AECO C natural gas hub in Southern Alberta is likely to remain a fact of life over the near term, even if pipeline expansions and LNG exports in Western Canada come online as scheduled, according to experts. Abundant gas supply from the Western Canadian Sedimentary Basin (WCSB) and limited egress capacity…

Bulgaria and Turkey signed a long-term agreement on Tuesday giving Bulgaria access to Turkey’s LNG terminals via Turkey’s natural gas transmission grid.  The 13-year deal was signed by Bulgaria’s Bulgargaz EAD and Turkey’s Botas Petroleum Pipeline Co. It would allow Bulgaria to import up to 1.5 billion cubic meters (Bcm) of gas annually from Turkey,…

Democrat Willie L. Phillips, who joined FERC in late 2021, on Tuesday was named by President Biden to take over as acting chairman with Richard Glick’s departure. Phillips is taking the reins of the Federal Energy Regulatory Commission, which now is split with two Democrats and two Republicans. The Senate failed to advance the renomination…

European natural gas prices hit the lowest level since 2021 on Tuesday as warmer weather has eased concerns that the region won’t have enough of the fuel to make it through winter.  The Dutch Title Transfer Facility (TTF) February contract fell to nearly $22/MMBtu on Tuesday. That’s a low not seen since November 2021 before…

India, one of the world’s largest LNG importers, has unveiled a $30 billion plan to triple its clean power generation capacity by 2030 that would rely heavily on solar and wind to help reach a net-zero emissions target by 2070.   For now, the country continues to eschew gas in favor of coal and renewables. Record…