Articles filed under International

Natural gas venting and flaring rates by U.S. operators fell to an 18-year low in 2023, based on preliminary state level data gathered by the U.S. Energy Information Administration (EIA).

The world is likely to be awash in LNG later this decade, but the surplus isn’t expected to last forever and divisions over how long the market would take to balance are coming into sharp relief.

Despite multiple maintenance and outage events weighing on LNG supply and dwindling storage levels, European natural gas prices were cooling again while Asian buyers kept drawing cargoes.

NO. 1: Saudi Arabian Oil Co., aka Aramco, has signed a tentative agreement to purchase 1.2 million metric tons/year (mmty) of LNG from NextDecade Corp.’s Rio Grande export project in South Texas.

Abu Dhabi National Oil Co. (Adnoc) has reached a final investment decision (FID) and will move ahead with its Ruwais LNG export project that’s expected to come online in 2028 and add to a wave of global supply entering service later this decade.

Chevron Corp. said Tuesday it has shut down LNG production at its Wheatstone export terminal in Western Australia for repairs at a time when other outages are keeping the global natural gas market tight.

Hot weather and maintenance work cutting into supplies pushed global natural gas prices higher on Monday.

NO. 1: Golden Pass LNG’s feed gas pipeline is expected to be in service during the first half of 2025, but the timeline could be impacted by the Zachry Group’s bankruptcy filing last month, according to a field inspection report by FERC. 

Taiwan’s CPC Corp. said Wednesday it would purchase more natural gas from Qatar and take a share in the massive North Field LNG expansion project being developed there.

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.