Articles tagged Middle East

Woodside Energy Group Ltd. is betting on a big future for LNG and the U.S. Gulf Coast’s role in it after making a bold move last month to acquire Tellurian Inc. and its Driftwood liquefied natural gas export project in Louisiana.

Tulsa-based Helmerich & Payne Inc. (H&P), one of the top drilling rig contractors in North America, is moving more of its expertise overseas as North American natural gas and oil activity slows.

No. 1: The European Union (EU) has approved a package of policies around the shipment of Russian LNG to member countries, marking the first official restrictions on natural gas from the country since the war in Ukraine began in 2022.

Worldwide demand for LNG has driven buyers to sign more than 25 million metric tons/year (mmty) in supply contracts in the last year for Qatar’s next generation of export projects.

European natural gas prices gave up last week’s gains on Monday, despite an unplanned outage at a top field in Norway and ongoing conflict in the Middle East.

North American exploration customers have pulled back on activity, but that may change later this year as line-of-sight focuses on ramping up more U.S. LNG capacity in 2025, according to Houston-based NOV Inc.

Global natural gas prices bounced back Monday, lifted by escalating tensions in the Middle East, where increasing attacks in the Red Sea have impacted commercial shipping operations. 

TotalEnergies SE expects global commodity prices to remain high for the remainder of the year as wars in Israel and Ukraine, along with supply constraints, keep energy markets tight. 

European natural gas prices inched higher Monday as the threat of a broader conflict in the Middle East offset a warmer forecast and ample supplies on the continent. 

Languishing U.S. natural gas prices have led SLB Ltd. to revise the North American outlook for 2023, CEO Olivier Le Peuch said Friday.