Mexican Nearshoring Opportunities Seen Spurring Energy Needs

The massive opportunities presented by nearshoring were all the rage last week at a packed energy conference in Monterrey, Nuevo León. Industry Exchange LLC’s 8th Mexico Infrastructure Projects Forum kicked off with government officials and executives expounding on the theme. Nuevo León Economy Secretary Iván Rivas said, “We will do everything to take advantage of…

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Shell’s Integrated Natural Gas Business Delivers as LNG Sales Climb

Natural gas trading delivered blow-out results for Shell plc in the final quarter of 2022, fueled by stronger LNG sales. CEO Wael Sawan, helming his first conference call since taking over, joined CFO Sinead Gorman on Thursday from London, as they dissected fourth quarter and 2022 results. Sawan formerly led the Integrated Gas unit. He…

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Natural Gas Futures Prices Slip Ahead of Storage Draw, Moderating Temperatures

Natural gas futures failed to sustain momentum, sliding midweek as traders brushed off what are likely to be temporary declines in production related to freeze-offs and instead focused on a quick warm-up expected this weekend. The March Nymex contract settled Wednesday at $2.468/MMBtu, down 21.6 cents from Tuesday’s close. At A Glance: BREAKING: U.S. EIA…

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Natural Gas Futures Relatively Steady Amid Mixed Signals in Latest EIA Storage Report

The U.S. Energy Information Administration (EIA) said 151 Bcf was withdrawn from natural gas inventories for the week ending Jan. 27, coming in on the high side of estimates ahead of the weekly report. Notably, however, the latest government data included a revision from the previous week’s report, which reflected slightly higher levels of storage.…

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Freeport seeks FERC approval to resume LNG loading

Loading from one berth would provide tank space ahead of return to full commercial operations. [Image credit: Freeport LNG]

ConocoPhillips reports 130% jump in 2022 earnings

US major returned $15bn of capital to shareholders last year.

Shell still taking LNG cargoes from Russia under Novatek contract

Shell is still receiving cargoes of liquefied natural gas (LNG) from Russia under its long-term contract with Novatek, a Shell spokesperson said on Thursday.

FortisBC Secures First Nations Partnership to Advance Tilbury LNG Expansions

FortisBC Holdings Inc. has reached an agreement with the Snuneymuxw First Nation community “to work in close collaboration” on planned expansions of the Tilbury LNG facility in Delta, British Columbia (BC). In operation since 1971, the liquefied natural gas facility added 0.25 mmty (33 MMcf/d) of liquefaction capacity and a 46,000 cubic meter (1 Bcf)…

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Trillion announces gas pay at Turkish Black Sea field

It is the third well in the company’s drilling campaign at SASB.

ConocoPhillips’ Willow Project in Alaska Inching Forward as BLM Recommends Partial Approval

The Interior Department’s Bureau of Land Management (BLM) has outlined a preferred alternative for ConocoPhillips’ Willow project proposed for Alaska, creating a path for possible approval for one of the largest oil and gas developments on public lands. In a final supplemental environmental impact statement (SEIS) released Wednesday, BLM staff recommended approval of three of…

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American Model Cooler Trending as Natural Gas Futures Pare Losses Ahead of Storage Report

Natural gas futures pared their losses early Thursday as traders prepared to digest the latest round of government inventory data, expected to reveal another lighter-than-average withdrawal to further pad the storage cushion. Coming off a 21.6-cent slide in the previous session, the March Nymex contract was up 2.6 cents to $2.494/MMBtu at around 8:50 a.m.…

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Electricity, Oil and Natural Gas: The Lifeblood of Our World

The modern world we take for granted depends, for its life, on electricity, oil and natural gas and ignoring that fact could propel us backward at high speed. Continue reading

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OMV Petrom’s Neptun Deep gas project ‘closer than ever’, CEO says

Romanian oil and gas group OMV Petrom is “closer than ever” to starting construction of its Neptun Deep gas project, its chief executive said on Thursday of the Black Sea resources she says are key to the country’s energy security.

Shell 2022 profit more than doubles to record $40 bln

Shell delivered a record $40 billion profit in 2022, the energy giant said on Thursday, capping a tumultuous year in which a surge in energy prices after Russia’s invasion of Ukraine allowed it to hand shareholders unprecedented returns.

Norway to raise spending from wealth fund to aid Ukraine, PM says

Norway will increase the spending from its sovereign wealth fund in the coming years to fund military and civilian aid to Ukraine, Norwegian Prime Minister Jonas Gahr Stoere told parliament on Thursday.

India’s GSPC seeks LNG cargo for March delivery – sources

India’s Gujarat State Petroleum Corp (GSPC) is seeking a liquefied natural gas (LNG) cargo for delivery in the second half of March, said three industry sources on Thursday.

Basra Oil Company head expects Qatar to take 20-25% stake in TotalEnergies’ Iraq project

The head of Iraq’s Basra Oil Company (BOC) told Reuters on Wednesday that he expects Qatar to acquire a 20-25% stake in TotalEnergies’ $27 billion cluster of energy projects in the country, with the Baghdad government aiming to hold around 40%.

U.S. LNG exports fall 5% as shipments to Europe slip

U.S. exports of liquefied natural gas (LNG) declined 5% to 6.84 million tonnes in January compared to the prior month as cold weather boosted domestic demand and as producers sent less gas to European customers, Refinitiv Eikon data showed on Wednesday.

Snam seeks EU funds to boost Italy’s gas grid, CEO says

Italy urgently needs to expand the capacity of its gas grid, the CEO of network operator Snam said, adding the group would seek European Union funds to support the development.

Inpex divests US tight oil development

The Japanese company has sold Inpex Eagle Ford to Repsol Oil & Gas USA, a subsidiary of Spain’s Repsol.

Eni announces 500th cargo from Damietta LNG

Damietta LNG last year produced and exported approximately 4mn mt of LNG.

Natural Gas Futures Flounder as Quick Warm-Up Seen Negating Impacts from Winter Storm Mara

Natural gas futures failed to sustain momentum, sliding midweek as traders brushed off what are likely to be temporary declines in production related to freeze-offs and instead focused on a quick warm-up expected this weekend. The March Nymex contract settled Wednesday at $2.468/MMBtu, down 21.6 cents from Tuesday’s close. Spot gas prices were mostly lower,…

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February Natural Gas Bidweek Prices Plummet Amid Weak Demand, Abundant Supplies

Natural gas prices nosedived in February bidweek trading under the pressure of enduring benign weather, light heating demand and robust production. NGI’s February Bidweek National Avg. sunk $8.290 month/month to $5.430/MMBtu. That compared with the $6.785 average for the year-earlier period. Prices dropped across the Lower 48 during the Jan. 25-27 bidweek trade, with natural…

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FERC approves Freeport LNG request to begin restart

Analysts say full operation unlikely before late March. [Image credit: Freeport LNG]

Texas Natural Gas Production Hitting Records as Mexico Ups Supply Needs

Mexico’s demand for Texan natural gas is set to rise as new infrastructure projects come to fruition. Along with plans in Mexico to build up to 5 Bcf/d of liquefied natural gas export capacity, state utility Comisión Federal de Electricidad (CFE) also is developing over 7 GW of natural gas-fired power generation by 2025. These…

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Oman Continues to Advance LNG Supply Agreements in Latest Deal With Botas

Oman has agreed to provide Turkey’s Botas with LNG beginning in 2025, continuing a streak of supply agreements that began last year as the nation looks to increase output of the super-chilled fuel. Oman LNG LLC would supply 1 million metric tons/year (mmty) to state-owned Botas over a 10-year term from its Qalhat liquefaction facility…

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FERC Grants LNG Storage Construction Approvals to Venture Global, Tellurian – The Offtake

Venture Global LNG has been granted permission by FERC to progress limited construction at Plaquemines LNG in Louisiana.

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Ohio Slaps ‘Green’ Label on Natural Gas as ‘An Opinion Statement,’ Says Governor

Natural gas is officially labeled “green” in Ohio after Gov. Mike DeWine last month signed House Bill (HB) 507 into law, though the green stamp may not carry much legislative weight for funding or regulations, according to the governor’s office.  HB 507 passed the Ohio Senate in December, with the primary goal of ensuring state…

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Enterprise Preparing to Launch Expanded Crude, NGL and Natural Gas Systems

Enterprise Product Partners LP has $3.6 billion of assets scheduled to begin commercial operations this year to expand natural gas, liquids and crude oil systems across the United States, with almost $2 billion more rolling off the boards through 2025, executives said Wednesday. Co-CEOs Jim Teague and Randy Fowler shared a microphone with the executive…

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Natural Gas Futures Find Stability; Cash Prices Sustain Momentum

Natural gas futures stabilized on Tuesday, supported by a cold front, eased production and strength in cash markets. Coming off a 17.2-cent drop in its debut as the front month a day earlier, the March Nymex gas futures contract on Tuesday settled at $2.684/MMBtu, up seven-tenths of a cent day/day. April rose 1.0 cent to…

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Domestic Crude Production Holds Strong; OPEC-Plus Advisers Stick With Output Cuts

U.S. oil producers remained active through January, with output last week holding at a pandemic-era high as it did across the month and in late 2022. The U.S. Energy Information Administration (EIA) said Wednesday production for the period ended Jan. 27 stood at 12.2 million b/d – on par with the prior week and the…

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‘Disappointed’ TC Energy Projecting 29% Cost Increase for Coastal GasLink Natural Gas Pipeline

TC Energy Corp. has again upwardly revised the expected cost of the Coastal GasLink (CGL) natural gas pipeline in Western Canada, citing challenges on multiple fronts. TC now expects the project to cost C$14.5 ($10.9 billion), up from C$11.2 billion ($8.4 billion) forecasted in its third-quarter 2022 earnings report. “The project continues to face material…

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Gas Stove Bans: Everything You Need to Know To Fight Back!

Gas stove replacement fantasies are being pursued in places such the Emperor State with no accountability at all except to enforcers of political correctness. Continue reading

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Coastal GasLink costs up another 30%, TC Energy says

New estimates place cost of the 670-km pipeline at C$14.5bn. [Image credit: Coastal GasLink]

MPLX Bullish on Natural Gas Growth as Permian, Marcellus Bottlenecks Targeted

MPLX LP is bumping up its capital spending by $50 million in 2023 to work toward debottlenecking pipeline constraints and expanding gathering and processing (G&P) capacity in the Permian Basin, as well as the Bakken and Marcellus shales. MPLX has set aside $800 million of growth capital for the year, with another $150 million earmarked…

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Global Natural Gas, Oil Exploration Soaring, with Focus on High-Value Assets

The global natural gas and oil exploration sector had its strongest year in 2022 in a decade as national oil companies and majors focused on taking advantage of what might be a short-term window of opportunity. The sector created some $33 billion of value at $60/bbl Brent prices last year, according to a report from…

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Los Angeles County Banning New Oil, Gas Wells

After the city moved last month to ban new oil and natural gas drilling within its borders, the Los Angeles County board has followed suit, banning new drilling activity beginning this month.  County officials unanimously voted to adopt an ordinance amending the zoning law, banning any new oil and gas wells or production facilities in…

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Bearish Temps Keeping Pressure on Natural Gas Futures, Though Other Factors Lend Support

An exceptionally mild temperature outlook heading into the second week of February kept the pressure on natural gas futures early Wednesday as overnight forecasts trended warmer. The March Nymex contract was down 2.1 cents to $2.663/MMBtu at around 8:45 a.m. ET. Weather models overnight further warmed what was already a bearish pattern starting next week…

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Coastal GasLink price tag climbs to $14.5 billion and could go even higher

Could cost a further $1.2 billion if construction is extended into 2024

APLNG revenue up 42% in October-December

APLNG’s realised LNG price during the quarter was $15.94/mn Btu, compared with $11.08/mn Btu.

Jera starts gas power unit at Anegasaki station

The plant has a generating capacity of approximately 650 MW. [Image: Jera]

Russian pipe gas flow to Europe hits new low in Jan

Gazprom’s exports outside the former Soviet Union slumped 45% in 2022 to only 100.9bn m3.

Twin Metals Project Killed by Foreign Agent in White House?

Joe Biden has been a corrupt liar as long as he has been in politics but his decision to kill the Twin Metals Project suggests he is also a foreign agent. Continue reading

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German economy minister sees chance to avoid energy price spikes

The decline in energy prices on the global markets was not expected, Economy Minister Robert Habeck said on Wednesday, adding that he saw a chance Germany won’t see last year’s price spikes if it comes out of winter with well-filled gas storages.

Bangladesh to restart spot LNG buying as prices ease – sources

Bangladesh aims to buy more liquefied natural gas (LNG) on the spot market in the coming months, two officials at its national gas company said, reversing a government decision last year to halt spot purchases after prices spiked.

Neptune starts up 10th Cygnus gas well

Drilling is now underway on an 11th well. [image credit: Neptune Energy]

UKOG cleared to push on with Loxley appraisal plan

A 2020 report by Xodus Group estimated that 34bn ft3 of gas could be recovered from Loxley.

Russia seeks $220 mln in unpaid taxes from Exxon -reports

The Russian General Prosecutor’s Office is asking a court to recover 15.5 billion roubles ($220 million) in allegedly unpaid taxes from U.S. oil major ExxonMobil, local news agencies TASS and Interfax reported on Tuesday citing court documents.

Russia boosts LNG exports to Europe by 20% in 2022 – Refinitiv

Russia supplied Europe with some 17 million tonnes of liquefied natural gas (LNG) last year, up about 20% from 2021 volumes, Refinitiv Eikon data showed on Tuesday, partially offsetting a steep decline in Russian pipeline gas exports.

Renergen plans US listing in 2023

Australian and South Africa-listed natural gas and helium producer is developing the second phase of Victoria gas project in South Africa’s Free State.

Pittsburgh Airport Gets Smart with Natural Gas!

The Pittsburgh Airport has developed its own smart energy grid based largely upon natural gas with supplemental solar energy and it is very smart indeed. Continue reading

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Natural Gas Futures Eke Out Gain; Spot Prices Advance Third Straight Day

Natural gas futures stabilized on Tuesday, supported by a cold front, eased production and strength in cash markets Coming off a 17.2-cent drop in its debut as the front month a day earlier, the March Nymex gas futures contract on Tuesday settled at $2.684/MMBtu, up seven-tenths of a cent day/day. April rose 1.0 cent to…

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Mexico’s CFE Eyeing 2024 In-Service for Yucatán Natural Gas Power Plants

Mexico’s state power company Comisión Federal de Electricidad (CFE) is aiming to bring online 1.5 GW of natural gas-fired power generation capacity on the Yucatán Peninsula by summer 2024, CEO Manuel Bartlett said Monday. The combined-cycle plants in Mérida and Valladolid would have capacities of 499 MW and 1,020 MW, respectively, and run primarily on…

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Freeport LNG Ready to Introduce Feed Gas to Train 3 For First Time in Months

Freeport LNG Development LP has requested FERC’s approval to reintroduce feed gas to one of its three trains more than seven months after a fire and explosion knocked the Texas plant offline. In a filing on Monday, Freeport also said that it has successfully cooled down its Loop 1 transfer piping so it can move…

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Initial Expansion of TAP Natural Gas System Launches Bid to Double Azerbaijan Exports to Europe

An initial capacity expansion of 1.2 billion cubic meters/year (Bcm/y) is underway on the Trans Adriatic Pipeline (TAP), the western connection bridging Azerbaijan’s natural gas production to Europe, as the European Union (EU) seeks to double imports through the system by 2027. TAP AG, the transmission operator for the 546-mile system, disclosed Monday natural gas…

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Alaska Governor Ready to ‘Unlock’ North Slope Natural Gas to Strengthen Energy Supplies

Alaska Gov. Mike Dunleavy sees the state’s future connected to its role as a global energy supplier, which means utilizing more natural gas resources and developing LNG exports to Asia, he said during the annual State of the State address. The Republican governor, who is beginning his second term, said he intended to build on…

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Freeport LNG seeks permission for next restart stage

More approvals still needed before commercial LNG production can resume. [Image credit: Freeport LNG]

Permian Carries Chevron to Record 4Q U.S. Production 

The legacy Permian Basin operations guided Chevron Corp. to record U.S. production in 2022, with natural gas and oil output from the play rising 16%. CEO Mike Wirth led a conference call last week with the executive team to discuss fourth quarter and full-year performance.  “We delivered record earnings and cash flow in 2022, while…

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Greg Ebel: The world wants and needs Canada’s energy — especially LNG

Canada’s LNG is the greenest in the world and we have an obligation to share it with the world, says Enbridge CEO

ExxonMobil Gains on Higher Natural Gas Realizations, ‘Favorable Market’ in Late 2022

ExxonMobil leaned in when some competitors leaned out, and the supermajor has used the advantage to capture the upside, CEO Darren Woods said Tuesday. Woods and his executive team shared 4Q2022 and full-year results during a wide-ranging conference call.  “Our results clearly benefited from a favorable market,” Woods told investors. “But to take full advantage…

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