BP plc’s production contract in Indonesia’s most prolific gas fields, collectively called the Tangguh block, has been extended to 2050, paving the way for further development as the firm works to boost its LNG production from the region. A 20-year extension for BP and its partners in the Tangguh was approved by the government of…
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Winter Weather Sends Western Natural Gas Forward Prices Soaring
Winter volatility saw Western natural gas forward hubs post huge gains during the Dec. 15-21 trading period, while expectations for a very mild start to 2023 drove deep discounts elsewhere in the Lower 48, NGI’s Forward Look data show. With intense Arctic cold diving from the Northwest into the heart of the Lower 48, spot…
Equinor Submits Plans to Continue Hammerfest LNG Exports Beyond 2030
Equinor ASA said it would invest $1.3 billion along with its partners in the Hammerfest LNG terminal to extend the life of the Norwegian plant and cut emissions significantly. The company has submitted its development plan to Norway’s Ministry of Petroleum and Energy to add onshore compression and electrify the terminal. It’s aiming to have…
Mild Weather, Strong LNG Flows Weigh on TTF
The global gas market continues to focus on the newly-agreed European cap on natural gas prices. The regulatory moves from the European Union fuelled the volatility on the European market, leading the TTF to rise on the news before falling consecutively session after session. The mild temperatures for the time of year in Europe and strong LNG flows also added to the bearish sentiment.
Extreme Cold Brings LNG Vessel Traffic to Standstill on Gulf Coast – The Offtake
A roundup of news and commentary from NGI’s LNG Insight Vessel traffic stopped Friday afternoon on waterways serving the Calcasieu Pass, Cameron, Corpus Christi and Sabine Pass LNG terminals in Texas and Louisiana. Pilot service was suspended on the Sabine-Neches Waterway, Corpus Christi Ship Channel and the Calcasieu Ship Channel as an arctic front swept…
Freeport LNG Restart Slips to Mid-January as Regulatory Review Continues
Freeport LNG Development LP has adjusted the restart timeline for its Texas terminal again, this time pushing start-up to sometime after mid-January as it responds to a bevy of questions from regulators. Freeport representatives said the majority of the work to restart operations after a June explosion knocked the 2.38 Bcf/d terminal offline was “substantially…
Gulf Coast Natural Gas Production Seen Rising Over Next Decade as LNG Projects Swell
Natural gas production out of the U.S. Gulf Coast should rise over the next decade as it continues to look toward the export market, according to researchers at Louisiana State University’s (LSU) Center for Energy Studies. In the center’s latest Gulf Coast Energy Outlook (GCEO) authors David E. Dismukes and Greg Upton said that in…
Baker Hughes, Woodside Collaborating to Decarbonize Natural Gas Supply Chain
Australia’s Woodside Energy Group Ltd. has a preliminary agreement with Baker Hughes Co. to identify technologies to support support low-carbon solutions. The memorandum of understanding would “explore opportunities” in Australia, Asia and the United States. “Collaborations provide a pathway to help solve the challenges we face in our industry today and into the future,” said…
Osaka Gas, Green Plains, Tallgrass Study Exporting Synthetic Methane Through Freeport LNG
A unit of Osaka Gas Co. Ltd., one of the largest global LNG buyers, is partnering with midstreamer Tallgrass Energy Partners and Green Plains Inc. to explore creating a hub of low-carbon gas that could be exported to Japan through Freeport LNG. In an agreement disclosed Wednesday, the firms outlined a partnership to study the…
Eni Plans Second Republic of Congo FLNG Unit in Bid to ‘Leverage Gas Equity’
Eni SpA is moving forward with plans to increase natural gas exports from the Republic of Congo with a second floating LNG (FLNG) terminal provided by Wison Heavy Industry Co. Ltd. The Italian supermajor disclosed a contract Thursday with the unit of Shanghai-based Wison to construct and install a 2.4 million metric tons/year (mmty) capacity…