The world is experiencing a nuclear renaissance. Uranium prices are soaring as the world snaps up nuclear fuel, public favor for nuclear power is at a 10-year high in the United States, Russia is busily expanding its own nuclear energy empire in emerging economies in Africa, and even Japan is …
Read More »Chinese Giant Sinopec Eyes Stake in Canadian Cedar LNG Project
China’s state-owned energy giant Sinopec is in talks with Pembina Pipeline Corporation over buying a stake in a planned Canadian LNG project and an offtake agreement for LNG from the facility on the Pacific coast, Reuters reported on Monday, quoting unnamed sources familiar with the development. Pembina is a partner …
Read More »Lower Natural Gas Prices Squeeze Big Oil’s Profits in Q1 2024
Much lower natural gas prices this year compared to 2023 dragged down profits at some of the largest oil and gas companies, which have so far reported a mixed bag of earnings for the first quarter of 2024. U.S. supermajors ExxonMobil and Chevron, as well as France’s TotalEnergies, all cited …
Read More »EU Regulator Claims Europe can’t Afford to Ditch Russian LNG yet
Amid calls from some member states, the European Union should be careful in its efforts to ditch Russian LNG as it should protect its security of gas supply, the European Union Agency for the Cooperation of Energy Regulators, ACER, said in a report on Friday. The Baltic EU member states …
Read More »EU Gas Storage Nearly 60 Percent Full at End of Heating Season
Natural gas storage facilities in the European Union region were stocked to over 58 percent of capacity as of March 31, when the winter heating season ended, EU Energy Commissioner Kadri Simson has said. “This is the highest level on record at this time of year”, Kadri said in a …
Read More »Low Natural Gas Prices Curb U.S. Oil Production Gains
U.S. oil producers are not in a rush to significantly boost production despite oil prices hovering at a six-month high, as multi-year low natural gas prices are holding back drilling in parts of the Permian and costs have increased, analysts and industry executives tell Reuters. Last week, WTI crude prices …
Read More »Egypt to Import more LNG over next Four Months to Ensure Summer Supply
Egypt aims to buy more liquefied natural gas shipments over the next four months as the nation aims to avoid a repeat of last year’s chronic blackouts. Egyptian Natural Gas Holding Co. is currently aiming to import at least one shipment a month through July or August, according to people …
Read More »Qatar Prepares to Dominate the LNG Export Market
Qatar is backing up its massive LNG expansion plans with new orders to charter dozens of new ships as the tiny Gulf gas producer aims to solidify its dominance in the global LNG export market. Last year, the United States overtook Qatar as the world’s largest LNG exporter, but Qatar …
Read More »Europe Makes it to the Other Side of Winter with Record Levels of Natural Gas
Europe has managed to make it through this winter season with record levels of natural gas in storage, setting it up to head into next winter on solid ground. With the end of March essentially wrapping up the typical winter season, natural gas stores in Europe remain 58.7% full, Gas …
Read More »Argentina Discusses Natural Gas Exports to Brazil via Bolivia
Argentina and Brazil are discussing the idea to export natural gas from Argentina’s Vaca Muerta shale play to Brazil via pipelines in Bolivia, by potentially reversing the flow northbound to Brazil. Energy companies from the three South American countries have started talks, but progress has been slow and there are …
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