Day: October 10, 2023

Gold markets have managed to partly pare back losses and reverse a deep selloff over the past couple of days after Friday’s surprise attack by Hamas on Israel, overcoming negative sentiment triggered by the Fed’s hawkish outlook of higher-for-longer in…

Climate change is the single largest motivation of investment institutions to decide to exclude companies from their portfolios, a newly launched ‘exclusion tracker’ shows. Investors have become increasingly wary of investing in ‘sin industries’, which…

November natural gas futures forged ahead to new autumn highs on Tuesday, climbing for a sixth straight session amid choppy domestic production and fresh global supply worries ignited by the eruption of war in the Middle East. Following a 3.8-cent gain the prior session – and a 14% advance last week – the November Nymex…

The post In War’s Wake, November Natural Gas Futures Prices Advance Sixth Consecutive Session appeared first on Natural Gas Intelligence

The war between Hamas and Israel that erupted last weekend has caused confusion in the commodity investment sector, with funds rushing to divest stocks sensitive to turmoil in the Middle East but oil traders piling up into the world’s most traded commo…

Police in west Norway have increased security measures and patrols at and around oil and gas infrastructure, after the suspected sabotage of the gas pipeline between Finland and Estonia in the Baltic Sea, a police representative told Norwegian daily Be…

The U.S.-led price cap on Russian oil exports has “significantly” cut revenues from oil sales for Russia, U.S. Treasury Secretary Janet Yellen said on Wednesday. The G7 price cap on Russian oil has “significantly reduced Russian revenue over the last 1…

Washington State University researchers discovered previously unknown self-sustained oscillations in the Fischer Tropsch process. They found that unlike many catalytic reactions which have one steady state, this reaction periodically moves back and for…

As Mexico seeks to implement new strategies to reduce its carbon footprint, the role of natural gas will be of utmost importance, industry leaders said at the Wired Summit held recently in Mexico City. “One of the hydrocarbons that plays a fundamental role in guaranteeing that there will be reliable, secure energy is natural gas,”…

The post Natural Gas Fundamental to Mexico Energy Transition, Industry Leaders Say appeared first on Natural Gas Intelligence

QatarEnergy and TotalEnergies have signed two long-term LNG agreements under which Qatar will supply up to 3.5 million tons per year of LNG to France for 27 years beginning in 2026, Qatar’s state giant said on Wednesday. TotalEnergies is a minority par…

The White House may have blamed Exxon Mobil for high energy prices taking their toll on consumers, but would struggle to thwart the top U.S. oil producer’s contemplated $60 billion acquisition of Pioneer Natural Resources, five antitrust lawyers and experts said on Friday.

China and Uzbekistan are making progress on an Uzbek-based joint venture to produce electric and hybrid vehicles. While all the pieces appear to be in place, a firm production timetable has yet to be established. The venture involves BYD Auto, the Chin…

Easing of pipeline constraints critical to continued growth. [Image: ConocoPhillips]

Damage to the subsea Balticonnector natural gas pipeline that links Estonia and Finland was likely caused by “external activity,” Finland President Sauli Niinistö said Tuesday. A leak forced operators to shut the system down over the weekend, and repairs could take months.

The post Finland Investigating Cause of Balticonnector Pipeline Damage – The Offtake appeared first on Natural Gas Intelligence

Dutch and British wholesale gas prices extended their rally on Tuesday afternoon after Finnish authorities said damage to a subsea gas pipeline might have been deliberate and as Middle East violence raised supply concerns.

Dutch and British wholesale gas prices extended their rally on Tuesday afternoon after Finnish authorities said damage to a subsea gas pipeline might have been deliberate and as Middle East violence raised supply concerns.

Via Metal Miner Although some moved sideways with more modest declines, all components within the overall index saw copper prices trade lower during the month. As a result, the Copper Monthly Metals Index (MMI) declined 2.34% from September to October….

Chevron has rerouted the flow from a natural gas pipeline offshore Israel that carries the gas to Egypt after the Israeli government ordered the company to shut down its platform in the Tamar field. Now the flow would go via Jordan before it reaches Eg…

Output should recover in the coming years, according to the agency, but even in 2026 it will be 11% below the record level seen in 2021.

Global natural gas demand is set to expand at a slower pace over the coming years, with most of the growth coming from China and other emerging Asian markets, the International Energy Agency (IEA) said Tuesday.  In its latest medium-term gas market forecast, the global energy watchdog said it expects worldwide demand to rise every…

The post IEA Sees China Driving Global LNG Demand Growth as Mature Gas Markets Have ‘Peaked’ appeared first on Natural Gas Intelligence

Natural gas futures rallied for a fifth straight session Monday, powered by a tightening domestic market and global supply worries spawned by threats of an LNG worker strike and the sudden eruption of war in the Middle East, a key energy producing region. At A Glance: Front month gains 3.8 cents Global supply threats intensify…

The post Natural Gas Futures Extend Price Win Streak as War Erupts, LNG Supply Risks Mount appeared first on Natural Gas Intelligence

Today, Volcano Energy and Luxor Technology Corporation have officially unveiled Lava Pool, El Salvador’s inaugural Bitcoin mining pool powered by abundant renewable geothermal energy. Volcano Energy, a unique public-private partnership committed to con…

Italy’s Eni SpA hopes to reach a final investment decision on its second floating liquefied natural gas (LNG) project in Mozambique by the end of June next year, two sources directly involved with the project said on Tuesday.

Exxon is later today expected to announce an all-stock acquisition offer for Pioneer Natural Resources, Reuters has reported, citing unnamed sources. Bloomberg, also citing unnamed sources, said that the deal could be worth $58 billion, with the price …

Ongoing investigations into a leak that halted natural gas supply between Finland and Estonia this weekend proceed with the assumption that it could have been sabotage, sources with knowledge of the matter told Bloomberg on Tuesday. The offshore Baltic…

Representatives from the oil industry and from OPEC will attend the COP28 climate summit in Dubai next month, OPEC Secretary General Haitham Al Ghais said on Tuesday. “The oil industry will be at COP and we will be there,” Al Ghais said at an energy ev…

Tellurian has applied for a three-year construction permit extension with the Federal Energy Regulatory Authority to complete the construction of the Driftwood LNG facility. The Driftwood LNG plant, currently under construction, would be one of the big…

Supply is being maintained through an alternative route transiting Jordan.

Oil prices have been buoyed by the Hamas attack on Israel, with a heightened geopolitical risk premium in markets and growing concerns that the U.S. will double efforts to stem Iranian oil flows. Despite the price rise, uncertainty remains in oil marke…

Mexico’s Centro Nacional de Control del Gas Natural (Cenagas) is calling on interested natural gas shippers to reserve firm transport capacity at several points in the country. Cenagas operates the Sistrangas pipeline network, which spans more than 6,300 miles throughout Mexico. Through an open season lasting until Jan. 23, Cenagas is making available 584,801.71 GJ,…

The post Mexico Gauging Shipper Interest in Natural Gas Open Season as U.S. Imports Grow appeared first on Natural Gas Intelligence

Global renewable energy funds saw record outflows of money in the third quarter of 2023 as stocks of wind and solar developers and suppliers crashed amid rising costs, higher interest rates, and supply-chain challenges. Renewable energy exchange traded…

Global renewable energy funds saw record outflows of money in the third quarter of 2023 as stocks of wind and solar developers and suppliers crashed amid rising costs, higher interest rates, and supply-chain challenges. Renewable energy exchange traded…

The pace at which demand for natural gas is set to grow over the coming years is set to slow, according to the IEA”s new medium-term forecast published on Tuesday. Global gas demand is set for 1.6% growth per year between 2022 and 2026, according to th…

Climate action to reach net zero undermines investment in the oil sector and jeopardises global energy security, warned OPEC. General secretary Haitham al-Ghais took aim at forecasters predicting a drop-off in oil demand this decade, with the cartel en…

Prior to the crisis, Italy met almost 40% of its gas demand with Russian supply.

The world’s largest offshore wind farm, the Dogger Bank Wind Farm in UK waters, has achieved first power and started sending electricity to the UK national grid, the developers of the project said on Tuesday, hailing the major milestone at the offshore…

A subsea gas pipeline connecting Finland and Estonia has sustained damage, and the location of the outage has been identified, the Finnish prime minister’s office said in a statement on Tuesday.

The third quarter was another record for trading of the Dutch Title Transfer Facility (TTF) benchmark contract, according to Intercontinental Exchange Inc. (ICE), as the European natural gas market continues to grapple with supply uncertainties and participants are increasingly trying to manage price exposure.   ICE said 18.7 million TTF futures and options were traded during…

The post Europe’s Volatile Natural Gas Market Drives Another Record in TTF Trading appeared first on Natural Gas Intelligence

Natural gas futures continued to climb early Tuesday as the market assessed early season risks ahead of the arrival of winter heating, though there were signs that the recent rally was losing steam. The November Nymex contract was up 3.8 cents to $3.414/MMBtu at around 8:40 a.m. ET. The November contract on Monday finished well…

The post Natural Gas Futures Advance, but Rally Potentially ‘Running Out of More Shorts to Squeeze’ appeared first on Natural Gas Intelligence

Italian energy group Eni will continue to gradually shift its activity from oil to gas in the coming years, the group’s chief executive said on Tuesday, adding the move has been one of the pillars of Eni’s transformation strategy. [image credit: Eni]

The joint venture with MCS Internasional plans to begin operations in April 2024, and will primarily allocate seafarers for the MOL Group’s fleet of LNG carriers. [Image: MOL]

Gas production curtailment in Israel due the ongoing conflict is likely to tighten global balances, but the impact on European gas prices is marginal for now, Goldman Sachs said.

The leaders of Cyprus, Israel and Greece held their ninth summit meeting in Nicosia on 4 September at a time when projects to export the region’s natural gas appear to be shaping up after years of little progress. [Gas in Transition, Volume 3, Issue 9]

Global natural gas demand is expected to experience slower growth to 2026 after peaking in mature markets such as Europe and North America in 2021, a report by the International Energy Agency (IEA) said on Tuesday.

The station is capable of accommodating approximately 100 vehicles/day. [Image: Bangchak Group]

The price of spot liquefied natural gas remains in a pre-winter lull, but there are some signs that demand for the super-chilled fuel is starting its usual seasonal increase.

The European Union will do all it can to halt fossil fuel use as part of its “ambitious” position at the upcoming COP28 climate summit despite some differences among EU countries, the bloc’s new climate chief Wopke Hoekstra said on Monday.

Top U.S. oil producer Exxon Mobil’s planned acquisition of the No. 1 Permian shale producer Pioneer Natural Resources could further restrain output growth in the largest U.S. oilfield, squeezing pipeline companies and suppliers, executives and energy advisors said.

ACCC said that the acquisition will likely result in an accelerated roll-out of renewable energy generation in Australia. [Image: APLNG]

War premium returned to the oil market on Monday after the weekend attack by Hamas on Israel, which upended—again—the geopolitical landscape in the world’s most important oil-exporting region, the Middle East, and buried hopes of an imminent Saudi-Isra…