In this issue

 

Pittsburgh-based company has gas dominance in the Marcellus Shale 
LNG News Editor:  Diamondback Energy, the Texas-based company listed on the Nasdaq global exchange, has agreed to acquire privately-held Endeavor Energy Resources in a transaction valued at $26 billion to…
JERA Co. Inc, Japan’s biggest liquefied natural gas importer and utility company, has signed an accord with a unit of Indonesia’s state-owned power supplier PT PLN (Persero) to cooperate on…
LNG News Editor:  UK major BP and state-owned Abu Dhabi National Oil Company (ADNOC) in the United Arab Emirates plan to form a joint venture in Egypt that will initially focus…
Free ReadS&P Global, the US ratings agency and provider of commodity market reports and energy prices such as the Japan-Korea Marker (JKM) price for Asian spot LNG cargoes and other oil…
The American Bureau of Shipping, the US maritime classification society, has inaugurated an ABS Global LNG Academy in the Qatari capital Doha and dedicated to training and educating mariners in…
LNG News Editor:  Fortum, the Finnish energy and power company with European Union-wide operations and that was forced to give up the German natural gas and energy supplier Uniper which…
Free ReadLNG News Editor:  Williams Companies, the North American pipeline natural gas and storage and gathering operator, increased quarterly and annual earnings as it also pledged to supply additional feed-gas for…
LNG News Editor:  Gaztransport and Technigaz (GTT), the French maritime LNG storage technology company, has confirmed an order from China for the storage tank designs for eight very large liquefied…
Woodside Energy, the leading liquefied natural gas operator in Western Australia, said the “Léopold Sédar Senghor” floating production, storage and offloading (FPSO) unit had safely arrived off the West African…
Free ReadSeatrium of Singapore has renewed a long-term favoured customer contract with the liquefied natural gas fleets of Greek shipping line GasLog and for the LNG carriers operated by UK-based major…
LNG News Editor:  Woodside Energy, the Western Australian LNG plant operator with global oil and gas interests, expects to recognise non-cash, post-tax asset impairments amounting to around US$1.50 billion with…
Santos, the Asia-Pacific LNG operator with assets in Australia and Papua New Guinea and that recently held unsuccessful merger talks with Australian peer Woodside, has issued its annual reserves statement…
French major reports progress on projects for oil and output and sells 44MT of LNG 

News Nudges

Vopak earnings boosted

Royal Vopak, the Dutch global storage company, reported higher annual and fourth-quarter net profits and revenues amid progress on liquefied natural gas projects. Vopak posted revenues for 2023 of €1.42 billion ($1.57Bln) compared with €1.36Bln in 2022. “We expanded our open-access LNG capacity in the Netherlands to support energy security, strengthened our leading position in India and solidified our leading industrial terminal position with investments,” Vopak said. Excluding exceptional items, Vopak reported annual net profits of €412.9 million compared with €294.4M in the previous year and fourth-quarter net profits came to €105 million versus €88.5M in the same three months of 2022. “Growth across most of the business units led to a healthy proportional occupancy of 91 percent and Ebitda of €964M which is a record result for Vopak leading to a 9 percent year-on-year increase,” said Chairman and Chief Executive Dick Richelle. “We successfully completed the divestment of three chemical terminals in Rotterdam and a chemical distribution terminal in Savannah in the United States.


Renergen LNG re-start

Renergen, South Africa’s small-scale liquefied natural gas and liquefied helium production company, has re-started LNG deliveries after a maintenance outage. The LNG plant is part of the Virginia Gas project located about 250 kilometres southwest of Johannesburg. “The delays suffered during the planned maintenance outage were primarily as a result of the scheduled maintenance period being brought forward to coincide with a helium coldbox repair,” said Renergen.


Fall in Inpex profits

Inpex Corp., the Japanese oil and gas company with LNG assets in Australia and Indonesia, reported a 6.8 percent decline in annual consolidated net sales to 2.16 trillion yen ($14.5 billion) from 2.32 trillion yen ($15.57Bln) in 2022 due to a fall in the price of crude oil. Inpex reported a 19.4 percent drop in annual net profits to 371.53 billion yen ($2.49Bln) from 461.06Bln yen ($3.09Bln) in 2022. Net sales of crude oil fell by 9.5 percent to 1.61 trillion yen ($10.78Bln) from the previous year while net sales of natural gas increased by 2 percent to 535.7 billion yen ($3.59Bln). “The average sales price of overseas natural gas decreased by $1.27, or 18.4 percent, to $5.62 per thousand feet. The average sales price of domestic natural gas in Japan increased by 9.9 percent to 90.08 yen ($0.605) per cubic metre,” said Inpex.