(Oil Price) – The United States will remain the world’s largest LNG exporter in 2024 ahead of Qatar and Australia as America’s liquefied natural gas shipments are set to increase to a new record high from the previous all-time high of 2023. The United States is on track to export a total of 86.9 million metric tons of LNG this year,
(Oil Price) – Egypt is currently in talks with U.S. and other foreign companies to purchase long-term volumes of liquefied natural gas (LNG) instead of relying on the more costly spot market, according to an exclusive Reuters report, as the country’s gas production continues to decline. “The ministry (of Petroleum) is seeking three or four years of supply to hedge from
World Oil (Bloomberg) – The oil and gas industry is zeroing in on the Biden administration’s moratorium on new liquefied natural gas (LNG) export permits as the key policy they want changed under the next U.S. president. Chevron Corp. Chief Executive Officer Mike Wirth called on the administration to reverse the pause, labeling the policy as a failure that “elevates
Oil Price Surging labor and construction costs are plaguing some major U.S. LNG export projects, threatening to delay new LNG supply to international markets. Wage growth since 2021, a shortage of skilled workers, and rising costs of materials with the inflation over the past three years have increased overall contractor costs for U.S. LNG export projects, analysts tell Reuters. Wages for
Houston Chronicle U.S. liquefied natural gas developers are pushing forward with plans to build new export terminals along the Gulf Coast despite a global supply glut and record low prices in Asia. Over the past year, the U.S. LNG industry has brought four new plants online — raising the number of U.S. export terminals to six with a combined production
“With our FERC order in hand and our project contracted with binding 20-year sale and purchase agreements with Shell, BP, Edison S.p.A., Galp, Repsol and PGNiG, we plan to immediately commence construction activities in Louisiana in close coordination with FERC and other agencies,” Venture Global Co-CEOs Bob Pender and Mike Sabel said in a statement issued today. What kicked the Calcasieu natural gas liquefaction and export
From Reuters/SputnikNews U.S. Senators Chris Murphy and Ron Johnson introduced a bill aimed at combating what they called “malign Russian influence” in the EU and ensure European energy security. Speaking to Radio Sputnik, Dr. Mamdouh Salameh, international oil economist and professor of energy economics at the ESCP Europe Business School, shared his views on the issue. Sputnik: In your view,
Australian LNG producers could win from the US-China trade war From the Australian Financial Review China’s threatened tariffs on US liquefied natural gas imports could help Woodside Petroleum, Santos and Oil Search get more than $US25 billion of LNG projects over the line as the world’s fastest growing importer looks elsewhere for supplies to meet surging demand for cleaner fuel. All three companies
Firms sees price levels high enough to facilitate full U.S. LNG utilization Fears about an oversupplied liquefied natural gas (LNG) market are beginning to ease as indications point towards a more modest rebalancing, according to consultancy Wood Mackenzie in its LNG short-term trade and price outlook for Q2. WoodMac VP Massimo Di Odoardo said that record demand from China absorbed
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