Marathon Oil Corp. (MRO) said that through its wholly-owned subsidiaries it has reached a five-year firm LNG sales agreement with Glencore Energy UK Ltd, a subsidiary of Glencore Plc (GLEN), for a portion of its equity natural gas produced from the Alba Field (Alba Unit, MRO 64% working interest) in Equatorial Guinea, effective January 1, 2024.
Iran says construction work at the revived 10.8mn t/yr Iran LNG project stands at just shy of 50pc and is on track for completion before the end of the current administration’s term in office in mid-2025.
Europe’s switch from pipeline gas to LNG is reshaping the global LNG market, putting a permanent floor under prices.
Australia’s Santos Ltd. has entered into a binding agreement to sell a 2.6 percent participating interest in PNG LNG to Papua New Guinea’s Kumul Petroleum Holdings Ltd. for $576 million in cash and the assumption of approximately $160 million of project finance debt, the two companies said.
MUSCAT, August 31, 2023 – Oman LNG has signed term-sheet agreements with Shell and OQ for the supply of LNG, the LNG producer announced via social media on Wednesday.
U.S. House Speaker Kevin McCarthy has revealed he plans to promote U.S. natural gas exports at an upcoming G7 meeting. McCarthy will frame his agenda in the context of Europe buying more U.S. gas as a way for the continent to wean itself off Russian gas following its war in Ukraine.
The U.S. is already on its way to becoming the biggest LNG exporter in the world in terms of capacity. This trend is only going to accelerate in the next four years as the country leads new capacity additions for the superchilled, low-emissions fuel.
Ghana, once considered a model economy in West Africa, is currently facing its worst economic crisis in decades. The country is grappling with high inflation and a depreciating currency, leading to difficulties for its citizens.
British Gas owner Centrica has signed a £6.2bn ($8bn) mega deal with US fossil fuel producer Delta Midstream, in a welcome boost for the UK’s power supplies.
Concerned about energy security, Europe and China are in an intensifying competition to sign long-term supply deals with U.S. LNG developers and exporters.