LNG

There was a measure of calm in the liquefied natural gas (LNG) market on Monday following a week of oddities and record low prices across a world reeling from the coronavirus outbreak.

ExxonMobil on Tuesday joined its oil and gas peers around the world, announcing it is reducing capital spending by 30% and trimming cash operating expenses by 15% in response to the dual challenges of an oversupplied market and demand weakness from the Covid-19 pandemic.

The Energy Information Administration (EIA) said Tuesday domestic oil and natural gas production are likely to fall this year as the coronavirus takes a chunk out of demand at home and abroad, but the federal agency maintained the same gas price it forecast in March.

There was a measure of calm in the liquefied natural gas (LNG) market on Monday following a week of oddities and record low prices across a world reeling from the coronavirus outbreak.

ExxonMobil on Tuesday joined its oil and gas peers around the world, announcing it is reducing capital spending by 30% and trimming cash operating expenses by 15% in response to the dual challenges of an oversupplied market and demand weakness from the Covid-19 pandemic.

The Energy Information Administration (EIA) said Tuesday domestic oil and natural gas production are likely to fall this year as the coronavirus takes a chunk out of demand at home and abroad, but the federal agency maintained the same gas price it forecast in March.

Even after gaining a long-sought FERC approval last month, the Jordan Cove transmission pipeline and liquefied natural gas (LNG) export terminal project along the south-central Oregon coast is facing substantial state opposition.

Even after gaining a long-sought FERC approval last month, the Jordan Cove transmission pipeline and liquefied natural gas (LNG) export terminal project along the south-central Oregon coast is facing substantial state opposition.

Uncertainty continues to mount across the global natural gas market with key buyers from Europe to South Asia sidelined by measures to slow the coronavirus, raising questions about how suppliers across the world will respond to the possibility of an extended downturn in demand as inventories fill.