Author: Natural Gas World - Latest News

Chesapeake Energy, a top U.S. natural gas producer, began laying off employees this week after completing the divestiture of its oil assets last year, the company said on Monday.

Phillips 66 on Monday agreed to acquire Pinnacle Midland, a midstream company owned by private equity firm Energy Spectrum Capital, for $550 million in cash, expanding the U.S. refiner’s natural gas gathering and processing footprint in the Midland Basin.

The project aims to expand the availability of natural gas across Tanzania, enhancing its usage in various sectors. [Image: TPDC]

Australia’s energy producers endorsed a government strategy to boost natural gas development, but warned the country still faces new gas supply shortfalls this decade while markets remain volatile due to global conflicts.

Dutch and British wholesale gas prices rose on Monday morning amid supply concerns due to an upcoming Norwegian maintenance outages and an ongoing outage at Gorgon LNG facility in Australia.

ADNOC and NextDecade have also signed a 20-year LNG offtake agreement for 1.9mn tonnes/year from RGLNG Train 4. [Image: NextDecade]

Conversely, China experienced a slight decline in pipeline gas imports in April.

This new well targets an independent prospect with a different trapping style compared with the previously drilled Gaufrette prospect by the RZK-1 well.

North Sea oil and gas producers are merging and shifting overseas as Britain’s windfall tax slashes profits and as the opposition Labour Party threatens more tax if it wins the next general election.

These initial shipments mark the beginning of an offtake arrangement announced on April 5. [Image: State Gas]

Natural gas flowing to Freeport LNG’s export plant in Texas was on track to hit a five-month high on Friday, LSEG data showed, with a liquefaction train expected to return from a brief upset on Thursday. [Image: Freeport LNG]

Vintage and its joint venture partners have delayed the drilling to evaluate the results of the recently drilled Odin-2 well before proceeding further.

Asian spot liquefied natural gas (LNG) prices rose this week to its highest levels since January, as hot weather across the region spurred more demand for the super-chilled fuel, and as it tracked gains in European gas prices on the back of maintenance outages and lower wind output.

Hess shareholders should vote in favor of Chevron’s $53 billion all-stock offer at the oil company’s May 28 special meeting, proxy adviser Glass Lewis said on Thursday.

Abu Dhabi National Oil Company (ADNOC) is planning to set up a trading desk in the U.S. as part of the United Arab Emirates-backed oil and gas producer’s global expansion efforts, several sources familiar with the matter told Reuters. [Image: ADNOC]

May 16 (Reuters) – Waste management firm WM is exploring a sale of its renewable natural gas business that could be worth about $3 billion, according to people familiar with the matter.
The Houston-based company is working with JPMorgan Chase & Co to gauge interest from poten…

For the fiscal year ended March 2024 (FY2024), Indian LNG imports were up 17.5% year/year.

The vessel will be delivered to GAIL in the Gulf of Mexico, with the time charter set to commence in early 2025.

The fleet has been sold to Seadrill’s joint venture partner Gulf Drilling International. [Image: Seadrill]

The country is aiming to double production to 142mn tonnes/year. [Image: QatarEnergy]

Oil and gas producer Crescent Energy has agreed to buy rival SilverBow Resources for $2.1 billion, a deal which would create the second-largest operator in the Eagle Ford basin in south Texas.

The incoming Dutch government said on Thursday it will aim to expand offshore natural gas extraction and nuclear energy production as part of plans to reduce the Netherlands’ dependence on “unreliable countries.”

GAIL (India), India’s top natural gas distributor, posted a smaller-than-expected quarterly profit on Thursday, hurt by weakness in its natural gas marketing business.

Chevron said it is set to launch the sale of its remaining UK North Sea oil and gas assets, in a move that would mark the U.S. energy giant’s exit from the ageing basin after more than 55 years.

In addition to natural gas, the Ras Al Sadr field will also contribute to crude oil production.

Japan’s JERA plans to invest 5 trillion yen ($32.4 billion) over the coming decade into renewable energy, new fuels like hydrogen and ammonia, and liquefied natural gas (LNG), global CEO Yukio Kani told reporters on Thursday.

Deploying waste heat recovery systems across the natural gas value chain can harness untapped energy potential and reduce emissions.

US gas is betting big on LNG, but faces a triple blowback via its own LNG plants, Mexico and Canada, if international demand for LNG does not respond robustly to lower prices.

The Fusaea-1 well, located 170km offshore, was spudded in February 2024.

Two influential U.S. Republican lawmakers have urged the head of the federal energy regulator to process applications for liquefied natural gas, or LNG, projects, saying any delays could force allies and partners to turn to countries like Qatar and Iran for the fuel.

U.S regulators asked LNG exporter Venture Global LNG to update its emissions analysis for its proposed Calcasieu Pass 2 LNG export project in Louisiana, according to a letter sent on Wednesday. [Image: Venture Global]

The emissions saving was the CO2 equivalent of taking 20,000 vehicles off the road.

The International Energy Agency (IEA) on Wednesday trimmed its forecast for 2024 oil demand growth, widening the gap with oil producer group OPEC in terms of expectations for this year’s global oil demand outlook.

Indonesia’s state power utility expects its natural gas demand to nearly double by 2040 as it aims to build 20 gigawatt (GW) of gas-fired power plants, a company official said on Wednesday, in the quest to reach net zero emissions by 2060.

Currently, Petronas operates several PSCs in Indonesia, including Ketapang, North Madura II, and North Ketapang, located offshore East Java, in addition to the newly acquired Bobara PSC offshore West Papua.

Qatar has not had difficulty securing long-term liquefied natural gas (LNG) contracts and will sign more this year, QatarEnergy CEO and State Minister for Energy Saad al-Kaabi said at an economic forum on Wednesday.

The spudding was delayed due to excessive rainfall in the region.

AI is transforming the global economy. Technology innovations are coming thick and fast. New technologies and AI applications and their use are proliferating, putting even more pressure on availability of reliable and dependable energy.

The Canada Energy Regulator (CER) on Tuesday said it had issued an order to TC Energy’s NOVA Gas Transmission Ltd (NGTL) to further reduce the operating pressure for the Grande Prairie Mainline gas pipeline near Edson, Alberta.

The company demonstrated power production from a gas well at the Amersfoort project. [Image: Kinetiko]

ADNOC Drilling will provide drilling and associated services for the recovery of unconventional energy resources in Abu Dhabi.

Dutch and British wholesale gas prices were up slightly around noon on Tuesday as the market monitored the escalation in fighting between Russia and Ukraine near energy infrastructure, while warm weather softened demand, limiting the upside.

Indonesian oil and gas company Medco Energi Internasional plans to start exploration drilling in the South Senoro field this year, after the company secured a 20-year contract extension for its Senoro-Toili working area, a company official said.

Indonesia will ask Mubadala Energy to accelerate gas development in Indonesia’s South Andaman Block after the United Arab Emirates explorer made a second discovery there, Dwi Soetjipto, chairman of upstream regulator SKK Migas, said on Tuesday.

Investors sold petroleum futures and options in the most recent week at the fastest rate for a year as the war risk premium continued to evaporate and the anticipated strong recovery in consumption receded.

With EU elections looming, there could be a revival in political support for natural gas, and a scaling back of Green Deal ambitions.

The LNG plant consists of nine LNG trains, with a capacity of 29.3mn tonnes/year. [Image: Petronas]

Slovakia is laying the groundwork to receive gas from Azerbaijan through Ukraine, to further diversify its supplies away from Russia and revive earnings from transit to other countries, Prime Minister Robert Fico said on Monday.

TechnipFMC will provide integrated engineering, procurement, construction, and installation services for the Xena infill well as part of the Pluto LNG project.

Indonesia launched its first oil and gas auction this year offering five blocks on Tuesday, while the government pledged to boost exploration in an effort to reverse output declines in a country that was once a net oil exporter.

Two of Equinor’s top ten investors will back a shareholder resolution calling on the oil major to align its strategy with global climate goals, which will be voted on at the company’s annual general meeting on Tuesday.

The Andes Energy Terminal project encompasses an LNG terminal, a land-based regasification plant, an LNG truck loading terminal, a power plant, and associated infrastructure.

Sempra LNG is revisiting its selection of Bechtel to build its Cameron LNG expansion project in Louisiana due to rising construction costs, two people familiar with the matter told Reuters. [Image: Cameron LNG]

The Tangkulo-1 exploration well was drilled approximately 65 km offshore North Sumatra. [Image: Mubadala Energy]

Kremlin-owned energy kingpin Gazprom, once Russia’s most profitable company, could face a long period of poor performance as it struggles to fill the gap of lost European gas sales with its domestic market and Chinese exports.

ExxonMobil, serving as operator, will retain the remaining 60% working interest.

Subsea7’s scope of work includes the installation of Turkey’s first floating production unit (FPU) as part of Phase 2a development.

Brazilian state-run oil firm Petrobras approved new commercial arrangements for natural gas sales that could reduce its price to distributors by up to 10%, it said on Friday.

Canada’s Canacol Energy has not had any discussion with Colombia’s majority state-owned oil company, Ecopetrol, regarding a transaction over its gas assets in the Andean country, Chief Executive Charle Gamba said on Friday.

Chinese companies won bids to explore five Iraqi oil and gas fields on Saturday in a licensing round for hydrocarbon exploration that was primarily aimed at ramping up gas production for domestic use.