In this issue

 

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…
Free ReadThe California Energy Commission has withdrawn the license for the Palmdale Energy Project, just north of Los Angeles, after the developer Palmdale Energy signaled it was unable to secure a…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
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
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…
Calcasieu Pass LNG project has reached a construction landmark by having the roof raised on the first LNG storage tank. Venture Global is developing three liquefaction plants in Louisiana and…

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.