ExxonMobil’s (NYSE:XOM) board of directors is debating whether to continue with several major oil and gas projects, that have high projected emissions profiles, as the supermajor reconsiders its investment strategy in a fast-changing energy landscape, the WSJ reported.
Australia’s Santos (ASX:STO) delivered record quarterly sales revenue of US$1.14 billion and record quarterly free cash flow of US$359 million.
Australian LNG developer Woodside (ASX:WPL) said today that it is on track for a targeted final investment decision (FID) on the Scarborough and Pluto Train 2 developments before the end of this year. The company is also benefitting from strong liquefied natural gas (LNG) prices.
Despite a proposed carbon capture and storage (CCS) scheme, the Santos-led (ASX:STO) Barossa liquefied natural gas (LNG) project in Australia, will continue to release financially risky carbon dioxide emissions onsite, onshore and across the supply chain. This makes it one of the more expensive and dirtiest gas projects in the world, according to a new report from the Institute for Energy Economics and Financial Analysis (IEEFA).
The Philippines' energy ministry yesterday defended the sale of the Malampaya gas project - formerly controlled by a Shell (AMS:RDSA) and Chevron (NYSE:CVX) joint venture - to a company run by an ally of President Rodrigo Duterte, dismissing a graft complaint.
Malaysia’s state-owned energy company Petronas is planning to build a third multi-billion dollar floating liquefied natural gas (FLNG) unit to help solve challenges commercialising gas offshore Sabah in Malaysia as part of an effort to appease ConocoPhillips (NYSE:COP) and Shell (AMS:RDSA) following losses related to an upstream development.
JGC (TYO:1963) said today that it has reached a settlement with Inpex (TYO:1605) regarding the lawsuit that Inpex filed against joint venture company JKC, which consists of KBR (NYSE:KBR), Chiyoda (TYO:6366) and JGC, relating to the construction of the giant Ichthys liquefied natural gas (LNG) export project in northern Australia.
Investment research firm Bernstein has named Australian liquefied natural gas (LNG) developer Woodside (ASX:WPL) as its “best idea” for the fourth quarter 2021 as prices surge and the Asian market tightens. Significantly, Woodside is one of the most exposed LNG suppliers to the spot market.
News that Cheniere (NYSE:LNG) signed a long-term liquefied natural gas (LNG) supply contract with China’s ENN Natural Gas (CH:600803) earlier this week marked the first major US-China deal since 2018. Over the past three years, new LNG deals between the two great powers were put on ice as rising political tensions under the Trump administration thwarted trade.
US-based Cheniere Energy (NYSE:LNG) will supply 0.9 million tonnes per year of liquefied natural gas (LNG) to China for 13 years starting in July 2022 after signing a deal with ENN Natural Gas (SHA:600803).
The government of Papua New Guinea (PNG) is pushing for a bigger shareholding of the ExxonMobil-led PNG LNG export project. The latest move was triggered by the proposed merger of Santos (ASX:STO) and Oil Search (ASX:OSH), both of which hold stakes in PNG LNG.
Qatar, the world’s biggest exporter of liquefied natural gas (LNG), warned that prices have climbed to “unhealthy” levels.
Vietnam's state-run PetroVietnam Power Corp (HM:POW.) has signed a deal to allow a consortium of two local banks to arrange a $1.4 billion syndicated loan for two liquefied natural gas (LNG) projects, the government said yesterday.
Japan’s Tokyo Gas (TYO:9531) and Thai state-backed energy company PTT (BKK:PTT) will set up a joint venture to enter the on-site energy business involving liquefied natural gas (LNG) supply in Thailand.
China is urging its liquefied natural gas (LNG) importers to procure more supply to fix its energy crisis, while providing little financial support for firms paying record-high rates for the super-chilled fuel.
Stena Power and LNG Solutions has teamed up with Global Energy Storage (GES) to launch a new partnership on LNG projects.
Asia gas prices may be high, but over the years they are poised to go even higher due to two key developments that threaten to change Japan’s role and influence in global liquefied natural gas (LNG) markets, according to the latest analysis from Japan NRG.
Malaysian national energy company Petronas is expected to accelerate final investment decisions (FIDs) for upstream oil and gas projects between 2022 and 2023 following a sharp decline over 2020-21, according to the latest research from Rystad Energy.
Energy majors, including Chevron, ExxonMobil, JERA, JGC, Mitsubishi Heavy Industries, Santos and SK E&S, are banding together to help nations in Asia achieve lower carbon emissions by promoting natural gas. Together they have established an advocacy group called Asia Natural Gas and Energy Association (ANGEA) that will join with policymakers to find solutions to cut carbon emissions.
Vietnam is quickly becoming one of the most promising liquefied natural gas (LNG) importing markets in Asia. Industry players—both domestic and global—have voiced their intent to pursue projects in Vietnam, encouraged by the government’s departure from its traditional coal-centric mindset and the rapid penetration of renewable energy in Vietnam’s power mix in recent years.
China will build four new liquefied natural gas (LNG) carriers for Qatar Petroleum, as part of a deal worth 2.8 billion Qatari Riyals ($760 million) that will help bolster the country’s fleet, as its North Field expansion progresses. Significantly, it is the first order placed with a Chinese shipyard for LNG vessels by Qatar Petroleum and underscores the strengthening strategic relationship between the two nations.
Asian liquefied natural gas (LNG) prices surged to a record-high as global competition for the super-chilled fuel intensified amid low inventories and coal shortages.
Malaysia’s Petronas said it will deliver three ‘carbon neutral’ liquefied natural gas (LNG) cargoes from its Bintulu export complex to China’s Shenergy at terminals in Shanghai between October 2021 and March 2022. Still, question marks remain around whether the industry can really make LNG carbon neutral.
Qatar Petroleum has signed a deal with China National Offshore Oil Corporation (CNOOC) for the supply of 3.5 million tonnes per year (t/y) of liquefied natural gas (LNG) over a 15-year term starting January 2022. Significantly, the deal brings Qatari LNG supplies to China under long-term deals to 15.5 million t/y.
Malaysia’s state energy company Petronas said that a fire broke out at its giant liquefied natural gas (LNG) export complex in Bintulu, Sarawak, on Tuesday, but that operations are unaffected.