In this issue

 

Thursday, 02 July 2020

Golar reaches COD acceptance for 1.5GW Sergipe Power plant in Brazil

Golar Power’s 1.5 GW Sergipe power project in Brazil has received Commercial Operation Date (COD) acceptance which triggers the start of earnings under a 25-year Power Purchase Agreement (PPA) and…
Thursday, 02 July 2020

Massachusetts looks beyond LNG, aims to phase out all fossil fuels

The public regulator in Massachusetts investigates whether the Boston Everett LNG import terminal might have to close, given that the U.S. northeastern state wants to phase out all fossil power…
Thursday, 02 July 2020

Californian regulator terminates license for gas power project

Free ReadThe California Energy Commission has withdrawn the license for the Palmdale Energy Project, just north of Los Angeles, after the developer Palmdale Energy signaled it was unable to secure a…
Thursday, 02 July 2020

US LNG May - June

May - June exports at 5.81mmt on 30th June Significant month-on-month drop of 1.41mmt (-39%) in June Total shipments down marginally over same two-month period last year Avg. US capacity…
Monday, 04 May 2020

U.S. rig count falls, LNG cargoes cancelled as global demand plunges

As markets reel from the coronavirus crisis, prices available to oil and associated gas producers have fallen to single digits in Western Canada and turned negative in parts of North…
Monday, 04 May 2020

Spot LNG prices in Asia likely to fall below U.S. production breakevens

Free ReadThough China’s economy and gas demand is picking up, the coronavirus pandemic chocked energy consumption elsewhere. Delivered gas prices into Northeast Asia today fell below $2.40/MMBtu, hence Wood Mackenzie warns…
Monday, 04 May 2020

U.S. lenders aim to seize shale assets to avoid losses on loans

Debt financiers of U.S. fracking firms are preparing to directly manage distressed energy assets to avoid debt write-offs in the event of bankruptcies. Bank of America, Citigroup, JP Morgan Chase…
Monday, 04 May 2020

Deal to cut oil production expected to lift prices starting from Q2-2020

OPEC producers and Russia, supported by the U.S. and Mexico, have agreed to cut output by about 10%, or 9.7 million barrels per day, after demand slumped due to coronavirus…
Monday, 04 May 2020

Henry Hub spot price to rise in Q2 as U.S. production declines

Plummeting oil prices impact U.S. fracking activities. With Brent crude oil prices seen average $43 a barrel in 2020, down from $64/bbl last year, the Government expects shale oil and…
Monday, 04 May 2020

More U.S. LNG cargoes head for China as demand notches up

Free ReadAs China returns to work and energy demand recovers, four U.S. LNG cargoes are en route to Chinese import terminals. Two cargoes are seen heading for Tianjin and analysts suspect…
Monday, 04 May 2020

New England boosts gas deliverability with infrastructure upgrades

Four pipelines – currently in planning or under construction – will significantly step up gas deliverability into New England, in the northeastern United States. Once operational, these interconnectors will gradually…
Monday, 04 May 2020

Tellurian raises additional finance to prop up Driftwood LNG

Tellurian Inc., the developer of the Driftwood LNG project near Lake Chares, has raised some additional institutional investor funds to give it more time to secure offtake deals, like the…
Monday, 04 May 2020

BP proceeds with $5.6 billion divestment of Alaska LNG

Free ReadUK major BP has reiterated its commitment to sell its Alaska business to Hilcorp Energy of the US for the original price of $5.6 billion despite the industry downturn. The…
Monday, 04 May 2020

Freeport LNG places Train-3 in service

The Freeport LNG export plant on Quintana Island in Texas has asked regulators to place its third liquefaction Train into service by April 30 as the US Gulf Coast export…
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News Nudges

Chevron decarbonises LNG fleet

Chevron has signed an agreement with Sempcorp Marine Repairs & Upgrades to help reduce the carbon-intensity of its LNG fleet operations. The tankers will be retrofitted with new technologies such as a reliquefication system, hull air lubrication and new gas compressors. These measures expected to reduce cargo boil-off, lower fuel consumption and increase volumes of cargo delivered.


Shell’s profits double

Global energy major Shell said its adjusted earnings in the final three months of 2022 had more than doubled to $39.9 billion on the back of soaring oil and gas prices in the wake of Russia’s invasion of Ukraine. Shell posted its record earnings just days after US-based Exxon Mobil announced annual profits of $55.7 billion.