(World Oil) – ConocoPhillips has signed a long-term sales and purchase agreement (SPA) to purchase 4 million tonnes per annum (MMtpa) of liquefied natural gas (LNG) from the Port Arthur LNG Phase 2 project under development by Sempra Infrastructure. Under the agreement, ConocoPhillips will offtake LNG over a 20-year term on a free-on-board basis, supporting the company’s ability to reliably
(Oil Price)– U.S. Devon Energy Corporation has signed a 10-year natural gas agreement to supply LNG to UK’s Centrica, the owner of British Gas. Under the deal announced on Friday, Devon Energy will supply 50,000?(MMBtu) per day of natural gas over a 10?year term starting in 2028. This is equivalent to five LNG cargoes per year. The LNG volumes will be indexed
(BOE Report)– Venture Global has won a legal battle against Shell over its failure to deliver liquefied natural gas under long-term contracts starting in 2023, the U.S. LNG major said on Tuesday. The company’s stock price rose almost 6% in after hour trade as investors cheered the decision. Firms, including Shell, BP, Edison and Galp, filed arbitration claims starting
(BOE Report)– U.S. liquefied natural gas developer NextDecade said on Monday it will receive up to $3 billion in equity commitments from TotalEnergies and Global Infrastructure Partners (GIP) to finance the fourth liquefaction train at its Rio Grande LNG export project in Texas. TotalEnergies will contribute about $300 million for a 10% stake in the Train 4 joint venture, while a
(BOE Report)– The European Commission could pool demand from European companies to buy more U.S. liquefied natural gas, as part of its efforts to reach a pledge to buy $250 billion in U.S. energy per year, it said on Thursday. Under a framework trade deal the U.S. and EU agreed on Sunday, the European Union agreed to increase its purchases
(World Oil)– Floating liquefied natural gas (FLNG) terminals are gaining momentum on the global LNG market, with capacity expected to triple by 2030 according to research from Rystad Energy. Once hindered by technical and operational challenges, FLNG projects are now achieving utilization rates comparable to onshore terminals. With LNG demand rising alongside the growing viability of smaller gas fields, FLNG
(World Oil)– The European Union’s promise to buy $750 billion of American energy imports over three years was pivotal to securing a trade deal with President Donald Trump, but it’s a pledge it will struggle to keep. The deal would require annual purchases of $250 billion of natural gas, oil and nuclear technology, including small modular reactors, according to EU
(World Oil)– Global supply of liquefied natural gas is set to surge the most since 2019 next year, primarily driven by production additions in North America, the International Energy Agency said. The increase in supply will accelerate to 7%, or 40 billion cubic meters a year in 2026, following a 5.5% expansion this year, the IEA said in its quarterly gas
(BOE Report)– U.S. President Donald Trump said on Tuesday that Japan will form a joint venture to develop a liquefied natural gas project in Alaska though a Japanese government official said he was not aware of such plans. It was not immediately clear whether Trump was referring specifically to the proposed $44 billion Alaska LNG project. That project would consist
(BOE Report)– U.S. liquefied natural gas company Freeport LNG’s export plant in Texas was on track to take in more natural gas on Thursday, two days after one of the plant’s three liquefaction trains shut, according to a company filing with state regulators and gas flow data from financial firm LSEG. Freeport told Texas environmental regulators on Wednesday that
Publisher’s Note: Eni SpA will present at EneCom Denver – The Energy Investment Conference at the Westin Downtown, August 17-20, 2025. Register to attend. (World Oil) – Venture Global and Itay’s Eni today announced the execution of a new Sales and Purchase Agreement (SPA) for the purchase of 2 MMtpa of liquefied natural gas (LNG) from CP2 LNG, Venture Global’s third project, for 20 years. This
(World Oil)– MidOcean Energy, a liquefied natural gas company founded by private equity firm EIG and backed by Saudi Aramco, has emerged as the frontrunner to buy a minority stake in Petronas’ Canadian business, people familiar with the matter said. Petronas, as the Malaysian state energy firm is known, has picked MidOcean as the preferred bidder, according to sources. The
