The United States and Germany have reached a compromise on Russia’s Nord Stream 2 (NS2) pipeline, clearing a path for the project to finish unencumbered. In a joint statement issued Wednesday, the countries pledged their support for Ukraine and agreed to sanction Russia if it uses the pipeline or energy supplies for geopolitical advantage. “The…
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Kinder Morgan 2Q Earnings Slip into Red on Massive South Texas Impairment, but Macro Outlook ‘Bullish’
South Texas proved to be a sore spot for Kinder Morgan Inc. (KMI), as the company’s 2Q2021 earnings took a hit during an otherwise strong period in which the midstream giant made two substantial purchases. Houston-based KMI recorded a $1.6 billion, non-cash impairment related to anticipated lower volumes and rates on contract renewals on its…
Quebec Quashes Energie Saguenay LNG Terminal on Environmental Grounds
Quebec upheld its reputation as no-go territory for fossil fuel projects Wednesday by denying environmental approval for a US$10.6 billion liquefied natural gas (LNG) export plan. GNL Quebec’s proposed Energie Saguenay terminal and Gazoduq pipeline failed to prove it would cut global greenhouse gas emissions, provincial Environment Minister Benoit Charette said in announcing the rejection.…
Woodside Inks Trucked LNG SPAs to Power Australian Mining Industry, On Track for Pluto Expansion FID
Woodside Petroleum Ltd. has entered a trio of sale and purchase agreements (SPA) to supply liquefied natural gas (LNG) sourced from its Pluto facility via truck to power Western Australia’s remote mining industry. Woodside said last week it and joint venture partner EDL had inked a 10-year SPA with miner Strandline Resources Ltd. to supply…
U.S. LNG Cargoes Delivered to Brazil Rising as Demand Breaks Records
Liquefied natural gas (LNG) cargoes sourced from the United States are taking up an increasingly important share of Brazil’s booming import market, according to market research firm Kpler. Brazil saw its highest-ever level of LNG in June, when imports clocked in at 657,000 tons. This compared to zero cargoes last June and 184,000 tons received…
Maintenance to Cut Feed Gas Deliveries to Corpus Christi LNG — The Offtake
A roundup of news and commentary from NGI’s LNG Insight Corpus Christi Pipeline planned to conduct maintenance through Friday that could cut feed gas deliveries to the Corpus Christi LNG export terminal by up to 75 MMcf/d, according to Wood Mackenzie. Meter cleaning at the system’s interconnect with Natural Gas Pipeline Company of America and…
Mexico Demand Helping Drive U.S. Natural Gas Price Rally
U.S. natural gas demand and prices are “off to the races,” driven by a convergence of supply and demand-related factors as the world emerges from Covid-19, IHS Markit’s Jack Weixel, senior director, said Monday. Liquefied natural gas (LNG) exports to the global market, pipeline exports to Mexico and capital discipline by upstream producers all have…
August Natural Gas Futures Rally Again, Lifted by Forecasts for More Heat, Storage Concerns
Bolstered by favorable weather outlooks and supply concerns, natural gas futures forged higher on Tuesday, following a 10.5-cent gain the previous day. The August Nymex contract settled at $3.876/MMBtu, up 9.7 cents day/day and in the green for a third consecutive session. September rose 9.8 cents to $3.852. At A Glance: Demand forecasts hold strong…
Oil Search Rejects Santos’ Bid to Create $16B ‘Unrivaled Champion of Size and Scale’
Oil Search Ltd., which has operations in Alaska and Papua New Guinea, has rejected a takeover bid by Australian independent Santos Ltd. that valued the combined entity at A$22 billion ($16.11 billion). The deal would have given Santos a foothold in the Papua New Guinea liquefied natural gas (LNG) scene, considered some of the lowest-cost…
BP Delivers its First Carbon Offset LNG to Mexico
Mexico received its first cargo of carbon offset liquefied natural gas (LNG) last week, according to BP plc and Sempra. Subsidiaries of the firms inked a contract for delivery of the cargo to Sempra’s Energía Costa Azul (ECA) terminal on Mexico’s Pacific Coast. It was expected to arrive last Friday (July 16). Greenhouse gas (GHG)…