In this issue

 

US oil major Chevron has taken steps to boosts its position in global LNG trading, having just signed cargo supply agreements with Cheniere Energy and newcomer Venture Global. With the latter,…
US government analysts expect natural gas spot prices to rise again this month and stay high through the rest of 2022 due to low inventories and higher gas-burn in the…
Free ReadTarga Resources Corp., one of the largest US independent midstream infrastructure companies, has agreed to acquire Lucid Energy, a natural gas gathering and processing services company in the Delaware Basin…
Venture Global LNG, owner of the newest US export plant at Calcasieu Pass in Louisiana and with three other projects in development, has signed two long-term supply agreements with a…
Pressure is building up to close down Russian oil, gas and coal deliveries to Europe, worth an estimated $150 billion in 2021 and over $500 million each day so far…
Free ReadChart Industries, the US LNG equipment-maker and industrial gases technology company, said it was given full notice to proceed on its processing and equipment activities for Cheniere Energy’s Corpus Christi…
Helmerich & Payne (H&P) have invested $33 million into Galileo to use their technology on drill pads across North America. Galilieo’s technology can capture natural gas from any source –…
JERA, Japan’s largest LNG importer, together with Chiyoda and researchers at RITE have started a demonstration project whereby solid sorbent material is used to separate CO2 from the exhaust of…
Tuesday, 05 July 2022
• May-June exports at 13.83mmt at time of writing • Down 0.21mmt (-1pct) over March-April period • Shipments up 1.48mmt (12pct) over period year-on-year • Avg. US capacity utilisation at 97pct for report…
Tuesday, 05 July 2022
Free ReadPeriod between 01 May 2022 and 29 June 2022, inclusively.  Elba Island LNG Elba Island LNG reduced utilisation from full-scale in March-April to 75pct in May-June to date. Elba Island’s…
Fitch Rating anticipates more US LNG cargoes will continue to be shipped to Europe as higher netbacks earned here than in China make cargo diversions “more competitive”, while more liquefaction capacity…
The French utility Engie has agreed to purchase 1.75 million tons per annum of LNG on a free-on-board basis from NextDecade’s Rio Grande LNG export project on the Brownsville Ship…
Energy Transfer, owner of assets in the Permian Basin and Haynesville Shale, has signed supply accord with the global commodities trader Gunvor for 2 mtpa from the Lake Charles LNG…
Free ReadMore than 900 drilling permits for new horizontal wells have recently been awarded in the Permian Basin, spurred by high oil prices. “This is a clear signal that operators in…

News Nudges

US rig count jump

Baker Hughes said in its latest rig count that there were 13 more US rigs in the week ending July 25, compared with the previous week and amounted to 753 rigs. “Oil rigs are up 10 to 594, gas rigs are up three to 157 and miscellaneous rigs are up two,” said the company. The US Rig Count is up 283 rigs from last year's count of 470 with oil rigs up 222, gas rigs up 59 and miscellaneous rigs up by two. The US offshore rig count is flat one to 16 and up two year-on-year.


US LNG for UK

The 164,000 cubic metres capacity carrier, the “Maran Gas Posidonia”, is scheduled to discharge a US LNG cargo on June 26 at the UK South Hook importer terminal at Milford Haven, according to shipping data. The cargo was lifted on June 9 from Sempra’s Cameron LNG plant in Louisiana. The shipment was headed for the UK as the National Balancing Point market price for natural gas was at the equivalent of $25.30 per million British thermal units, about $13.00 per MMBtu less than the European Union benchmark Dutch Title Transfer Facility (TTF) price.


Saipem Brazil award

Saipem of Italy said it was awarded a limited notice to proceed (LNTP) by BW Offshore for the early-stage engineering services for the supply of a Floating Production Storage and Offloading (FPSO) unit. The FPSO will then be provided to Shell and its partners for the development of the Gato do Mato natural gas and oil field located about 200 kilometres offshore Brazil in the prolific Santos Basin in water depths of around 2,000 metres. “The LNTP is a key step ahead for this initiative and the Saipem project team is already fully mobilized. Upon completion of the LNTP, Shell and its partners target to award a lease and operate contract which will include the award of the engineering, procurement, construction, and installation (EPCI) of the FPSO to a consortium comprising Saipem and BW and with expected delivery in 2026,” said Saipem.