In this issue

 

After the busiest first quarter for upstream deal-making in five years, the industry could see another $150 billion of merger and acquisition (M&A) deals in the remainder of 2024. Players…
Free ReadAs industry groups urge Canada to accelerate its LNG projects following the US permitting pause, IEEFA analysts dismiss this thought as a “mere distraction” from looming oversupply. The LNG Canada…
Privately-held JX LNG Canada has proposed a fourth LNG export project for northern British Columbia, adding to the already advancing LNG Canada, Cedar FLNG and another First Nation-led venture north…
Canadian gas transportation and terminals company Pembina Pipeline and its LNG partner, the Haisla First Nation, has secured some landmark deals on offtake, construction and financing ahead of their investment…
Free ReadSaudi Aramco is understood to be in talks with Sempra about taking a stake in Port Arthur LNG Phase-2, while looking at opportunities in China where CEO Amin Nasser sees…
Arbitrage for US LNG to Asia has been open since the first week of April: Spot LNG prices in Asia traded 9 percent higher week-on-week at around $9.8/MMBtu, compared with…
Gas production in the United States grew by 4 percent, or 5 billion cubic feet per day (Bcf/d) last year, to average 125 Bcf/d and analysts expect the upward trend to…
US government analysts expect hotter summer temperatures this year will substantially increase gas-burn for power generation and cooling, which lowers inventories and results in higher prices. On the demand side,…
Free ReadUS Environmental Protection Agency (EPA) has finalised two rules to tackle emission in the power sector, with the first one mandating all coal-fired plants that operate beyond 2039 to capture…
Tuesday, 07 May 2024
• March-April exports at 14.95mmt at the end of April • Down by 1.72mmt (-10pct) from January-February period • Shipments down 1.12mmt (-7pct) over period year-on-year • Avg. US capacity utilisation at 95pct…
Tuesday, 07 May 2024
Period between 1 March 2024 and 30 April 2024, inclusively. 
Free ReadJack Fusco, CEO of the US LNG exporting giant Cheniere is going “full steam ahead” with the company’s Corpus Christi and Sabine Pass expansion projects, vowing President Joe Biden’s move to…
Natural gas spot prices at the US benchmark Henry Hub stay low at around $2.40/MMBtu through February and March as LNG exports are set to decline, government analysts forecast. 
Tellurian has agreed to altering the terms of certain debt to have short-term liquidity for completing the sale of its upstream asset. “This amendment to our debt agreement is pivotal…

News Nudges

Canada to export Alberta oil via BC

Canada has moved closer to unlocking a new Pacific Coast crude outlet from Alberta while fast-tracking British Columbia LNG projects with the aim of tripping LNG production and export beyond 2030. Prime Minister Mark Carney said a proposed pipeline capable of carrying about 1 million barrels per day could begin construction in September 2027, as Ottawa and Alberta lined up support for the project. The route would run through southern British Columbia to the Pacific coast, giving Canadian crude a shorter path to Asian buyers and reducing reliance on the United States, officials said. The new pipeline, with 1 million barrels per day throughput, could turn Canada into a global oil exporter — in addition to LNG. British Columbia already has several LNG projects at different stages, including LNG Canada in Kitimat, Woodfibre LNG near Squamish and expansions tied to Tilbury LNG and related pipeline infrastructure. Together, the Alberta-to-BC pipeline plan and LNG acceleration signal a broader federal strategy to scale up Canada’s energy exports without depending solely on U.S. demand. Canada used to sell almost its entire surplus oil and gas production to its large southern neighbour.