Day: December 28, 2022

Natural gas futures plummeted on Wednesday as weather models indicated that the warmer pattern that emerged following Winter Storm Elliott may stick around a bit longer than earlier projected. Though supply remains suppressed because of freeze-offs, the January Nymex gas futures contract rolled off the board 57.3 cents lower day/day at $4.709/MMBtu. The February contract,…

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The former commander-in-chief of Russia’s ground forces, Alexei Maslov, has reportedly died in a military hospital, according to his defense company’s telegram channel, making him the second top-ranking military officer to die in as many days.  The ret…

America’s largest natural gas producer, EQT Corp, has experienced a plunge in production up to 30% due to severe cold weather that led to Appalachian Basin well disruption, Bloomberg reports. Speaking to Bloomberg Television on Wednesday, EQT Chief Exe…

When a senior government minister of either Iran or Russia says that the two countries are now experiencing a ‘golden age’ in developing relations between them then it’s a pretty safe bet that one or more countries somewhere are going to be in serious …

Momentum is building for the re-export of U.S. natural gas to Asia by way of Mexico’s Pacific Coast, as evidenced by developments over the last week. The U.S. Department of Energy (DOE) granted Sempra Infrastructure’s request for two LNG export permits for terminal projects planned in Mexico. Published by DOE Dec. 20, the orders expanded…

The post U.S. Firms Advancing Mexico LNG Export Plans as Asian Buyers Line Up Supply appeared first on Natural Gas Intelligence

Sempra Infrastructure said Tuesday it has finalized a deal to sell an affiliate of German utility RWE AG 2.25 million metric tons/year (mmty) of LNG from the first phase of its proposed Port Arthur export project in Jefferson County, TX. The liquefied natural gas would be sold for 15 years on a free-on-board basis, a…

The post First Phase of Port Arthur LNG Nearly Sold Out After RWE Deal appeared first on Natural Gas Intelligence

Federal energy regulators on Wednesday launched an inquiry into bulk power systems operations during the extreme weather conditions during Winter Storm Elliott.  FERC, the North American Electric Reliability Corporation (NERC) and NERC’s regional entities said the joint inquiry would review the “severe cold weather” last weekend that “contributed to power outages affecting millions of electricity…

The post Winter Storm Elliott Triggers Inquiry by FERC, NERC into Power System Operations appeared first on Natural Gas Intelligence

Government is prepared to negotiate to improve the bids.

The United States and Uzbekistan recently concluded the second meeting of their Strategic Partnership Dialogue. As Uzbekistan is the most populous country in Central Asia and borders Afghanistan and the four other Central Asian states, U.S. policy rega…

The Finnish government has announced on Thursday that it has proposed a temporary windfall tax on profits from the country’s electricity companies as part of a European Union response to soaring power costs. The proposed 30% tax would apply to any prof…

US major says EU overstepped its authority in imposing the “solidarity contribution”.

With natural gas traders’ fingers and toes still thawing out from the weekend’s Arctic blast, most remained on the sidelines of the action on Tuesday. However, with the potential for cold to return before mid-January and U.S. production sharply lower following widespread freeze-offs, the January Nymex gas futures contract eked out a 20.3-cent gain to…

The post Natural Gas Futures Firm on Freeze-Offs, Possibility of More Cold On the Way; Cash Slides appeared first on Natural Gas Intelligence

Hitting back at Brussels’ imposition of a windfall tax on oil companies, Exxon Mobil Corp is suing the European Union on the grounds that the tax will hinder investment and end up being “counter-productive”, according to media reports.According to the …

From assisting natural gas and electric utility customers in paying higher-than-usual energy bills, to decorating Ronald McDonald Houses for the holiday season, the energy industry has once again stepped up to the plate to spread cheer this holiday season.  Jackson, MI-based Consumers Energy said it would provide $7.25 million to help Michiganders struggling with winter…

The post Natural Gas E&Ps, Utilities Deliver A Helping Hand for the Holidays appeared first on Natural Gas Intelligence

A Cheshire wind farm developer has threatened to sue the UK government over its plans to impose a ‘windfall tax’ on renewables companies. Community Windpower – which owns 1.5 GW of UK wind generation capacity – has said it will take legal action to blo…

Excelerate Energy, Inc. (NYSE: EE) announced on Wednesday that its floating storage and regasification unit (“FSRU”), the Exemplar, has anchored at Finland’s port of Inkoo, heralding a major move in the country’s goals to reduce independence on Russian…

Gazprom sees gas exports outside ex-USSR at 100.9 bcm in 2022

Woodside Energy Group Ltd. has tentative agreements with Western Gas, an Australian offshore natural gas producer, to supply more volumes and boost production from its Pluto LNG terminal. Woodside disclosed several nonbinding agreements with Western Gas in the North West Shelf Project. Western Gas is developing the Equus Gas Project in the Carnarvon Basin. Under…

The post Woodside, Western Gas Eyeing More Australian Supply, Pluto LNG Exports appeared first on Natural Gas Intelligence

Oil exports from Russia are to be banned beginning Feb. 1 to any country that agreed to cap prices, according to a decree signed Tuesday by President Vladimir Putin. The ban would continue for five months. “Deliveries of Russian oil and oil products to foreign entities and individuals are banned, on the condition that in…

The post Russia Retaliates Against Countries Imposing Oil Price Cap, Bans Exports Starting in February appeared first on Natural Gas Intelligence

A Cheshire wind farm developer has threatened to sue the UK government over its plans to impose a ‘windfall tax’ on renewables companies. Community Windpower – which owns 1.5 GW of UK wind generation capacity – has said it will take legal action to blo…

Crude oil inventories fell by 1.3 million barrels, American Petroleum Institute (API) data showed on Wednesday, after dropping 3.069 million barrels in the week prior. U.S. crude inventories have grown by fewer than 10 million barrels so far this year,…

Russia has the sovereign right to respond to the G7 oil price cap, and it hasn’t consulted with OPEC+ over the response, Kremlin spokesman Dmitry Peskov said on Wednesday. On Tuesday, Russian President Vladimir Putin banned the sale of Russian oil to c…

Energy and Environmental Economics Inc. (E3), a sustainability consulting firm, revealed that while electrification overtakes natural gas heating as Illinois targets net-zero emissions by 2050, the state’s electric grid may shift from a summer-peaking to a winter-peaking system.  In a study commissioned by the state’s largest electric utility, Commonwealth Edison Co. (ComEd), E3 reported that…

The post ComEd Study Sees Monthly Natural Gas Heating, Gasoline Fuel Costs Rising in Illinois appeared first on Natural Gas Intelligence

Toronto-based Superior Plus Corp. clinched a definitive agreement with Certarus Ltd. to acquire the compressed natural gas (CNG), renewable natural gas (RNG) and hydrogen distributor in a C$1.05 billion ($776.9 million) deal.  After kicking off the year with an announcement that it may offer hydrogen to its commercial and industrial propane customers in Quebec, Superior…

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As updated forecasts hinted at longer lasting warmth to kick off 2023, natural gas futures were down sharply in early trading Wednesday. The expiring January Nymex contract was down 30.0 cents to $4.982/MMBtu at around 8:40 a.m. ET. February was off 27.5 cents to $4.843. Weather data trended slightly warmer overnight during the Jan. 9-12…

The post Forecasts Tease Extended January Warmth as Natural Gas Futures Slide Early appeared first on Natural Gas Intelligence

The first cargo deliveries from the first phase of the Port Arthur LNG project are expected in 2027.

China has broken ground on a renewable energy project worth an estimated $11 billion in the province of Inner Mongolia. According to a Bloomberg report, the project will have a capacity of 16 GW and produce some 40 billion kWh of electricity to Beijing…

Climate change has become the excuse for a big bank scam that aims steer trillions annually into their coffers from the accounts of everyday citizens everywhere. Continue reading →

The post Appalachia First: A Bold, Positive Vision for the Region! appeared first on Natural Gas Now.

Indonesia has awarded another two oil and gas exploration blocks to domestic firms as it seeks to boost production to meet growing energy demand, the energy ministry’s director general of oil and gas said on Wednesday.

The floating storage and regasification unit (FSRU) Exemplar, chartered by Finland to help replace Russian gas, arrived at Inkoo port west of Helsinki on Wednesday, Gasgrid Finland said.

There is no risk to power supplies in France until at least mid-January, the head of the country’s CRE energy watchdog, Emmanuelle Wargon, said on Wednesday.

Upon completion, the nearshore LNG plant will increase Petronas’ LNG production from floating LNG facilities from 2.7mn mt/yr to 4.7mn mt/yr.

Natural gas output in the Appalachia region, the top gas-producing basin in the U.S., dropped by a record amount as Winter Storm Elliott swept through Pennsylvania and Ohio, freezing wells and some equipment and creating mechanical issues at pipeline i…

Argentina’s booming shale production in Vaca Muerta, a formation that rivals the United States’ Permian Basin, is at risk of running out of road as infrastructure to handle the oil and gas nears capacity, threatening to put the brakes on rapid growth.

The company responsible for the construction of the Nord Stream 2 pipeline received a six-month stay of bankruptcy, shielding it from creditors, the AP reported, noting the stay will last from January 2023 to June the same year. The gas pipeline, which…

Soaring energy bills threaten to collapse the UK’s ceramics industry as energy-intensive industries in Europe continue to suffer from high energy costs. Some ceramics companies have seen their energy bills jump tenfold, Bloomberg reports. The industry …

The field is located in the country’s northern Ordos basin.

State-owned Oman LNG will supply a total of 2.35mn metric tons/year of LNG to three Japanese companies.

Early in the year, the Department of Homeland Security (DHS) warned that domestic terrorists have developed “credible, specific plans” to attack the U.S. power grid and view it as a “particularly attractive target given its interdependency with other i…

Iran has long held enormous political, economic, and military sway over neighbouring Iraq through its various military and political proxies, and since the discovery of vast reservoirs of oil in Iran first in the early 1900s and shortly after in Iraq, …