(BOE Report) – Soaring U.S. natural gas prices are eroding profit margins for the nation’s LNG producers, a trend that could deepen in the coming years, forcing exports to drop as global competition heats up. U.S. benchmark Henry Hub gas prices spiked on Wednesday to their highest level in three years at over $5 per million British thermal units (mmbtu)
(Oil Price) – The U.S. federal government is considering further steps to speed up the buildout of liquefied natural gas export infrastructure as flows of natural gas to LNG plants hit a record high. Exports, as it happens, are also running at all-time highs. The Federal Energy Regulatory Commission’s chairwoman announced the coming changes in a statement that said, “Energy infrastructure needs to
(Oil Price) – The U.S. LNG export boom could soon face challenges by the end of the decade, both at home and on the international market. Huge export capacity additions, mostly in the United States and Qatar, are set to tip the global LNG market into an oversupply as soon as next year, depressing prices and eating into the profit margins
(World Oil) – Tokyo Gas Co. is in discussions with multiple U.S. liquefied natural gas suppliers to secure a long-term purchase agreement, as rising energy demand leaves Japan increasingly dependent on the fuel source. Japan’s largest gas distributor is in talks with at least four companies over supply from projects dotting the U.S. Gulf Coast, according to people with knowledge
(Oil Price) – Richard Kinder doesn’t lose sleep over trade wars or chatbots. The billionaire co-founder of Kinder Morgan waved off the industry handwringing over U.S.-China LNG tariffs and the supposedly overhyped energy appetite of AI data centers. “Our view is that any loss of the Chinese market will be more than offset by the efforts of governments in the EU
(World Oil) – (Bloomberg) – New supplies of liquefied natural gas take time to develop, and significant new capacity will only start kicking in over the coming years, a senior Exxon Mobil Corp. executive said. Demand for LNG is rising as Europe turns to the fuel to help plug gaps after losing the supply of Russian gas piped through Ukraine.
(Oil Price) – The United States will remain the world’s largest LNG exporter in 2024 ahead of Qatar and Australia as America’s liquefied natural gas shipments are set to increase to a new record high from the previous all-time high of 2023. The United States is on track to export a total of 86.9 million metric tons of LNG this year,
(Oil Price) – Egypt is currently in talks with U.S. and other foreign companies to purchase long-term volumes of liquefied natural gas (LNG) instead of relying on the more costly spot market, according to an exclusive Reuters report, as the country’s gas production continues to decline. “The ministry (of Petroleum) is seeking three or four years of supply to hedge from
World Oil (Bloomberg) – The oil and gas industry is zeroing in on the Biden administration’s moratorium on new liquefied natural gas (LNG) export permits as the key policy they want changed under the next U.S. president. Chevron Corp. Chief Executive Officer Mike Wirth called on the administration to reverse the pause, labeling the policy as a failure that “elevates
Oil Price Surging labor and construction costs are plaguing some major U.S. LNG export projects, threatening to delay new LNG supply to international markets. Wage growth since 2021, a shortage of skilled workers, and rising costs of materials with the inflation over the past three years have increased overall contractor costs for U.S. LNG export projects, analysts tell Reuters. Wages for
Houston Chronicle U.S. liquefied natural gas developers are pushing forward with plans to build new export terminals along the Gulf Coast despite a global supply glut and record low prices in Asia. Over the past year, the U.S. LNG industry has brought four new plants online — raising the number of U.S. export terminals to six with a combined production
“With our FERC order in hand and our project contracted with binding 20-year sale and purchase agreements with Shell, BP, Edison S.p.A., Galp, Repsol and PGNiG, we plan to immediately commence construction activities in Louisiana in close coordination with FERC and other agencies,” Venture Global Co-CEOs Bob Pender and Mike Sabel said in a statement issued today. What kicked the Calcasieu natural gas liquefaction and export
