Portuguese oil and gas company GALP Energia posts higher profits amid offloading of Mozambique LNG stake
GALP Energia, the Portuguese oil and gas company which recently agreed to sell its 10 percent stake in the Mozambique LNG project, posted higher adjusted second-quarter net profits.
BP 2024 Energy Outlook gives double forecasts for LNG demand and trading activities in Europe and Asia
The BP 2024 Energy Outlook said that liquefied natural gas demand would grow robustly in the near term, driven by increasing needs in emerging economies in Asia as well as in the regional economic powerhouse China.
Mozambique pledges to establish sovereign fund like Norway’s from LNG projects to lift nation from poverty
Mozambique, the newest liquefied natural gas exporter, has voted for the creation of a Sovereign Wealth Fund similar to that in oil and gas producing nation Norway to make sure the Mozambican people benefit from current and future LNG expansions led by major international energy companies.
Shell realigns LNG interests with Qatar supply deals and completion of Masela gas sale for Indonesian project
Shell signed two long-term LNG sale and purchase agreements for the supply of up to 3.5 million tonnes per annum of LNG from Qatar to the Netherlands while also completing the sale of its interests in the Masela block in Indonesia for an LNG project.
Equinor deepens role as main European energy supplier through gas by starting up world’s largest offshore wind farm
Equinor, the Norwegian energy company and the main pipeline natural gas supplier to the UK and the European Union, has brought online the world’s largest offshore wind farm as part of a joint venture development.
Dutch utility and LNG terminal assets owner Gasunie boosts earnings amid changing energy markets
Gasunie, the Dutch utility and owner of stakes in the Dutch Rotterdam and Eemshaven LNG import terminals and the onshore German regasification project planned for Brunsbüttel, posted increases in first-half net profits and revenues as natural gas markets evolved after the ending of Russian pipeline flows.
European Union seeks more LNG imports amid concerns about power-grid resilience caused by renewables
The European Union Agency for the Cooperation of Energy Regulators (ACER), whose responsibilities include assessing the prices of LNG cargoes, said that more LNG imports were needed to help energy security amid raised concerns about power-grid resilience in the 27-nation group and about subsidies making its citizens lax on saving electricity.
Logistical LNG vessel for Russian LNG trading heads to Murmansk after 13,000 nautical miles voyage from Korea
An important logistical link in Russian liquefied natural gas trading, a huge floating storage unit called “Saam FSU”, was heading past the Norwegian coast on June 20 for its destination port of Murmansk.
Hammerfest LNG plant in northern Norway expected to re-start on June 8 after gas leak fixed and facility checked
Norway's Equinor plans to restart production at the Hammerfest liquefaction and export plant in northern Norway on June 8 after it was shut down on May 31 due to a gas leak.
Norway LNG shut
May 5 (LNGJ) - Hammerfest LNG, the Equinor-operated export facility in northern Norway that supplies European import terminals, has suffered a compressor failure and is expected to be off stream until May 19, according to the Norwegian gas system operator Gassco.
The facility on Melkøya island produces 4.65 million tonnes per annum of LNG from a single liquefaction Train as well as 340,000 tonnes of liquefied petroleum gas and 730,000 tonnes of condensate. The feed gas comes from the Snøhvit field in the southern part of the Barents Sea. The licence owners of the Snøhvit field are operator Equinor along with Norway’s Petoro, France’s TotalEnergies, Neptune Energy of the UK and Germany’s Wintershall Dea.
