In this issue

 

BP is accusing Venture Global of “illegally withholding information” about delays in delivering LNG from its Calcasieu Pass export plant in Louisiana, claiming long-term LNG shipments were “intentionally held back”…
Faced with tighter restrictions to transit the drought-stricken Panama Canal, South Korean and Japanese utility buyers of US LNG have started bypassing the waterway, or avoid spot cargoes altogether. Cargoes…
Free ReadDriftwood LNG developer Tellurian has ousted co-founder Charif Souki as executive chairman by choosing his long-term business partner Martin Houston as the new Tellurian chairman. Souki will stay a member…
ExxonMobil has informed investors about a delay in the “mechanical completion” of the Golden Pass LNG export plant. Commissioning of liquefaction facilities at the existing import terminal on the Sabine-Neches…
US energy engineering company McDermott has received a limited notice to proceed for an engineering, procurement, construction and installation (EPCI) contract from Shell for the Manatee natural gas field development…
Southern cone gas supply dynamics will be unravelled over the next ten years by rising gas production in Brazil and Argentina, while dwindling output from Bolivian fields impedes exports. Southern…
Free ReadCanadian Spirit Resources Inc. (CSRI), which recently reactivated natural gas production at Farrell Creek in Northeast British Columbia, is aiming for a share in supplying feed gas to regional LNG…
Global commodity trading house Trafigura has disclosed its volumes of traded LNG declined to 11.2 million tons for the year through September 2023, compared with 13 mt in the previous…
Occidental Petroleum (OXY), with Warren Buffet as a main shareholder, has agreed to buy US Permian Basin-focused energy producer CrownRock in a cash and stock deal valued at $12 billion…
Free ReadNatural gas covered almost half of the United States’ electricity demand this summer amid significantly lower gas prices, coal plant retirements, low output from wind and hydropower and high cooling…
Tuesday, 02 January 2024
• October-November exports at 16.35mmt at the time of writing • Up by 1.25mmt (8pct) compared to August-September period • Shipments up 3.28mmt (25pct) over period year-on-year • Avg. US capacity utilisation at…
Tuesday, 02 January 2024
Period between 1 October 2023 and 30 November 2023, inclusively.
Free ReadA massive 100 mtpa of LNG projects have secured financing in North America and are under construction but prices are creeping higher. According to Poten & Partners, tolling fees around $2/MMBtu…
More LNG was exported from the United States in the first half of this year than from any other country worldwide, Cedigaz data shows. US exports 11.6 billion cubic feet…

News Nudges

Kinder Morgan increases 2024 forecast

US pipeline company Kinder Morgan is expecting an increase in gross earnings, particularly from its natural gas pipelines division. “We anticipate generating net income attributable to KMI per share of $1.21, up 11 percent, compared to our year-end 2023 forecast of $1.09 per share,” said KMI President Tom Martin. Kinder Morgan in November agreed to pay $1.81 billion for acquiring STX Midstream whose gas pipelines connect the Eagle Ford shale basin to the Gulf Coast to serve growing feedgas demand from liquefaction terminals and facilitate onward pipeline gas exports to Mexico.


Updated spending for Cedar LNG project

Canadian midstream firm Pembina Pipeline has disclosed updated spending plans and an FID date for the planned Cedar LNG project in British Columbia. “The 2024 capital investment program of C$880 million reflects growing volumes and Pembina’s commitment to providing safe, reliable, flexible and cost-effective energy infrastructure solutions,” said the Calgary-based company. Related projects could add up to C$280 million, inclusive of pre-FID contributions with financial close now expected by the end of the first quarter 2024.