Day: August 15, 2023

The undeniable inevitability is that everything is going to be electrified, and batteries are our future, as well as the biggest opportunity for investors in a lifetime. Yet, the lithium space has become crowded and chaotic, while the lesser-known crit…

Last week, we reported that the clean energy sector was outperforming its fossil fuel brethren with many companies in the space posting impressive top-and bottom-line growth. Unfortunately, there’s one corner of the sector that has failed to impress: h…

Natural gas futures tumbled on Tuesday, breaking a two-day stretch in which Nymex prices barely budged given only minor changes in fundamentals. With a cooler turn in the latest weather data, the September Nymex futures contract settled at $2.659, off 13.6 cents from Monday’s close. October fell 11.7 cents to $2.781. Spot gas prices also…

The post Natural Gas Bulls Lose Their Grip as Prices Slip on Robust Supply; Cash Retreats appeared first on Natural Gas Intelligence

I have a lot more to cover on the recently released Statistical Review of World Energy. But today I need to make a digression, albeit one with a tie-in to the Review. Presidential hopeful Mike Pence has just released a new campaign ad on energy policy….

Germany expects natural gas prices to remain high until at least 2027, the government said on Wednesday in a report on the measures to mitigate high energy costs for households. Since the beginning of this year, when the so-called price brake was intro…

There is no silver bullet, but a wide range of technologies needed to address climate change. The challenge is integrating these technologies into a single, coherent energy system, says Richard Voorberg, President North America, Siemens Energy.

When left-wing Colombian President Gustavo Petro came into power at the beginning of the year, he pledged that he would bring an end to new oil and gas exploration. But as the months go by, some believe he should rethink this approach, putting Colombia…

Southern California Gas Co. (SoCalGas) has filed an application to develop a pilot project in the state that could produce up to 4.5 Bcf/year of renewable natural gas (RNG) using organic waste from chipped wood and nut shells.  If approved by regulators, the project would be the largest of its kind in California, according to…

The post SoCalGas Looking to Build California’s Largest RNG Project appeared first on Natural Gas Intelligence

Talks between workers and LNG producers in Australia are continuing this week although there is talk of positive progress. Woodside Energy, one of the companies risking LNG supply disruptions due to potential industrial action, said negotiations with t…

Crude oil inventories in the United States saw a large draw this week of 6.195 million barrels, the American Petroleum Institute (API) data showed on Tuesday, after last week’s surprise 4.067 million barrel build. Analysts were expecting a draw of 2.05…

Strong equity markets, weak currency drove profit growth.

Qatar, one of the top global LNG exporters, is having a banner year. The country has signed record volumes of long-term liquified natural gas supply contracts with new and existing buyers.  But it remains uncertain how much of the additional capacity that is being developed by QatarEnergy (QE)  will be committed by the end of…

The post Qatar Still Has Enormous Volume of LNG Left to Market appeared first on Natural Gas Intelligence

Famously curious seals and sea lions will be able to inspect construction of the Woodfibre LNG export terminal under construction in British Columbia (BC) without forcing work to stop as a result of a regulation change. The BC Environmental Assessment Office (BCEAO) has relaxed a noise restriction on the plant site near Vancouver that was…

The post BC Regulators Ease Construction Restrictions at Woodfibre LNG Project Site appeared first on Natural Gas Intelligence

Negotiations on Tuesday to avert labor strikes at three Australian LNG export facilities yielded no significant progress and are expected to continue as union members consider their options.

The post Labor Negotiations at Australian LNG Export Terminals Continue – The Offtake appeared first on Natural Gas Intelligence

A year/year plunge in natural gas prices buoyed second-quarter earnings for Mexico’s state power company Comisión Federal de Electricidad (CFE), according to management. CFE operates about 34 GW of natural gas-fired power plants, and is Mexico’s primary importer and marketer of natural gas via pipeline from the United States. Mexico’s imports of U.S. gas have…

The post Mexico’s CFE Swings to Profit on Lower Natural Gas Prices appeared first on Natural Gas Intelligence

In the 20 years that Data Gabelia has worked at the Hotel Anaklia, he’s seen the fortunes of the Black Sea resort town of 1,500 people rise and fall.In the 2000s, he saw money pour into Anaklia as then-President Mikheil Saakashvili sought to turn it in…

The United States exported record-high volumes of natural gas via pipelines to Mexico in June 2023, beating the previous record from June 2021, the U.S. Energy Information Administration (EIA) said on Tuesday. America’s pipeline gas exports to Mexico a…

New Mexico is naturally endowed with several clean energy sources including wind and solar, as well as geothermal resources, which makes it highly attractive for renewable energy projects. The state ranks second in the U.S. for potential solar energy p…

Turns out that driverless robotaxis still may not be ready for primetime. A shining example of this revelation came from California this week where, one day after the state implemented a massive expansion of the robotaxis, it was faced with a 10-car dr…

The fate of the massive nuclear power plant in the crosshairs of Europe’s largest war in decades has made for worrisome headlines since Russia launched its large-scale invasion of Ukraine nearly 18 months ago. As fighting intensifies not far from the p…

Europe has, especially since Russia’s invasion of Ukraine highlighted the need for energy security, figured out that natural gas is a key component to solving the energy trilemma – affordable, reliable and secure energy.

Russia’s Finance Ministry has set its oil export levy at $21.40 per ton starting in September—the highest level this year—as the state tries to lift oil-derived income as oil prices rise, Bloomberg stated on Tuesday. That works out to about $2.92 per b…

The world is awash in waste plastic. Wind blows it across everyone’s property. Its value is so low that no good program exists to drive the recycling effort past 10%. Although many Americans dutifully deposit their plastic trash into the appropriate bi…

ESG, including equity and partnership opportunities for Indigenous groups, will be increasingly important in attracting financing for future LNG projects, a session on financing the next wave heard this week.

Turns out that driverless robotaxis still may not be ready for primetime. A shining example of this revelation came from California this week where, one day after the state implemented a massive expansion of the robotaxis, it was faced with a 10-car dr…

The deadliest fighting in Libya so far this year ended after less than 24 hours after one side in the conflict released a commander from the other, which had ignited the violent clash. Some 27 people died during the Tripoli clash and 100 were injured, …

Weaker-than-expected economic data out of China is depressing sentiment on the oil market at the beginning of this week, offsetting growing optimism that the U.S. economy would pull off a soft landing after all the rate hikes from the Fed.   Analysts a…

Libya saw overnight its worst clashes in the capital Tripoli so far this year, sparking concerns about battles spilling over to the OPEC member’s oil-producing and exporting infrastructure.   The most powerful and heavily armed factions in Tripoli foug…

Turns out that driverless robotaxis still may not be ready for primetime. A shining example of this revelation came from California this week where, one day after the state implemented a massive expansion of the robotaxis, it was faced with a 10-car dr…

Libya saw overnight its worst clashes in the capital Tripoli so far this year, sparking concerns about battles spilling over to the OPEC member’s oil-producing and exporting infrastructure.   The most powerful and heavily armed factions in Tripoli foug…

Russia’s central bank unexpectedly hiked its key interest rate by 350 basis points to 12% on Tuesday, an emergency move to try and halt the rouble’s recent plunge after a public call from the Kremlin for tighter monetary policy. This was the second str…

Shamsairi Ibrahim, Vice President of PETRONAS LNG Marketing & Trading, discusses the company’s position on balancing energy security, affordability and sustainability, its views on the future role of LNG and its development of low-carbon technologies.

Faced with punishing heat waves and concerns about the reliability of renewable energy, the California Energy Commission (CEC) voted to lengthen the lifespan of three natural gas power plants. The CEC vote last week would extend the deadline to shut down the plants from the end of this year to the close of 2026. The…

The post California Energy Commission Votes to Postpone Closure of Natural Gas Power Plants appeared first on Natural Gas Intelligence

Natural gas production from seven key onshore Lower 48 regions will ease lower from August to September but remain above 98 Bcf/d, according to the latest modeling from the U.S. Energy Information Administration (EIA). Total natural gas output from the Anadarko, Appalachia and Permian basins, as well as from the Bakken, Eagle Ford, Haynesville and…

The post Haynesville Seen Leading Lower 48 Natural Gas Production Decline in September appeared first on Natural Gas Intelligence

Trading action along the Nymex natural gas futures curve was like watching paint dry on Monday, with the prompt month swinging in a tight range given no major changes to fundamentals. The September Nymex gas futures contract settled at $2.795/MMBtu, up 2.5 cents from Friday’s close. October futures tacked on 1.6 cents to $2.898.  Western…

The post Natural Gas Futures Steady as Heat Bakes Pacific Northwest, Texas; Cash Rises Too appeared first on Natural Gas Intelligence

Taking a look at insights from North American energy executives in the latest episode of NGI’s Hub & Flow podcast, Patrick Rau, NGI’s director of Strategy & Research, highlights what was said…and what wasn’t during the recent second quarter earnings conference calls. Spoiler alert: executives expect U.S. natural gas prices to increase into 2024 and…

The post Which Natural Gas Price Are E&Ps and OFS Operators Using in Forecasts? – Listen Now to NGI’s Hub & Flow appeared first on Natural Gas Intelligence

Canada needs an “at-scale” LNG economy to keep up in the global climate change fight,” the country’s associate minister of finance told the conference.

Disappointing economic data out of China weighed on oil prices on Tuesday morning, with markets unsure if current government intervention is enough to rejuvenate the country’s economy.Chart of the Week- In the three months since Nigeria’s President Bol…

Following cooler overnight forecast trends, and after failing to significantly gain ground in the previous session, natural gas futures retreated in early trading Tuesday. Coming off a 2.5-cent gain on Monday, the September Nymex contract was down 7.0 cents to $2.725/MMBtu as of 8:45 a.m. ET.  Both the American and European weather models shed a…

The post Natural Gas Futures Pull Back Amid Cooler Forecast; Production Down on Maintenance appeared first on Natural Gas Intelligence

Negotiations between Chevron, Woodside Energy Group and Australian unions on Tuesday are unlikely to yield results for days because unions will need to consult members on any decision, according to a source with knowledge of the matter that was not authorised to speak to media.

APA Corp, which has made several oil discoveries offshore Suriname, is in discussions about the possibility to install an LNG platform offshore Suriname and neighboring Guyana, APA Vice President Gary Clark said at an energy conference this week. APA s…

Natural gas will be needed “indefinitely” as a guarantor of baseload energy supply, even as the capacity of renewables continues to grow over the coming years, according to the Qatari energy minister.

Julien Perez, Vice President, Strategy & Policy, Oil and Gas Climate Initiative (OGCI), discusses with NGW the pathway towards eliminating oil and gas sector methane emissions.

This deal encompasses Harbour’s 53.125% stake in the Chim Sao and Dua fields.

Competition in effectively and transparently quantifying and reducing emissions will be key, the panelists said.

New Yorkers are already leaving the Empire State but a mass exodus is about to happen as the state’s useless Climate Act more than doubles their electric rates. Continue reading →

The post Climate Act Is A Planned Mass Exodus Event for New Yorkers appeared first on Natural Gas Now.

Argentina will sign loans worth $500 million with international lenders next week, Economy Minister Sergio Massa announced on Saturday, the day before a primary election in which he is running for president to lead the embattled ruling coalition.

Pakistan’s June tender for LNG imports received no bids, suggesting the country’s already parlous gas supply position could worsen in the near term. However, longer term, the country is looking to Central Asia, both to meet its own gas needs and potentially enter the LNG market as an exporter. [Gas in Transition, Volume 3, Issue 7]

Norway will narrowly avoid a power deficit the next five years despite few production additions, as the last two years’ high prices led to more permanent demand cuts, the Norwegian Water Resources and Energy Directorate (NVE) predicted on Monday.

Chinese refiners processed 17.4% more crude oil last month in response to stronger demand for fuels both at home and abroad, state statistics data cited by Reuters has shown. Domestic demand was pushed higher by the fact it is travel season, the report…

Two people died and seven others were injured after explosions and a fire at an oilfield in West Siberia in Russia, the regional authorities have said. The blasts at the Talinskoye field in the Khanty-Mansi autonomous area, also known as Yugra, are tho…

This investment marks the fulfillment of the required development funding for Commonwealth LNG to proceed with the final investment decision (FID) concerning its LNG export facility in Louisiana. [Image: Commonwealth LNG]

California’s Independent System Operator (ISO) warned of high temperatures and increased electricity usage during the coming week as the grid operator prepares for tight conditions works to ensure adequate supply.

Oil and natural gas output from top U.S. shale-producing regions is set to fall in September for the second straight month to the lowest levels since May, Energy Information Administration data showed on Monday.

The U.S. shale patch, which accounts for most of the non-OPEC+ oil supply growth, is set to deliver stronger-than-anticipated production gains this year.  Several significant producers raised their production guidance after announcing strong or record …