Papua New Guinea’s Kumul Petroleum still has its sights on acquiring further equity in the ExxonMobil-operated PNG LNG project from largest shareholder Santos, again extending the deadline to complete the $1.4 billion deal as it has yet to secure the necessary financing.
Russian President Vladimir Putin belied that his invasion of Ukraine in 2022 would go largely unopposed by the U.S. and its allies for the same reason that he was able to invade the country in 2014 and annex Crimea.
Given its geographical positioning, with Saudi Arabia on one side of it and Iran on the other, Qatar has long played a delicate diplomatic balancing act between the two great Middle Eastern powers and their principal superpower sponsors.
South and Southeast Asia are tentatively returning to the spot LNG market as prices have dipped from record highs in August to the lowest in nearly two years.
The current optimism in Europe about future energy security is once again based on the wrong assessments. An increasing amount of reports published during the last couple of weeks are warning that if Europe is not getting its act together, it could be facing a possible new energy crisis or at the very least a repeat of very high prices during the winter of 2023-2024.
Europe’s benchmark natural gas prices rose on Wednesday morning for a third consecutive day of gains amid lower LNG supply due to the nationwide strikes in France and expectations of a colder start to April than usual.
The European Union is considering allowing individual member states to block LNG imports from Russia without slapping sanctions on Russian gas, a draft document seen by Bloomberg News showed on Tuesday ahead of a meeting of the EU energy ministers.
New U.S. and Canadian LNG export projects show signs of accelerating but volatile natural gas prices are making bets on future supply and demand difficult, industrial market intelligence provider Industrial Info Resources (IIR) said in new research on Friday.
More than half of Europe’s LNG import capacity could become stranded assets by 2030 as current LNG buildout plans are set to vastly exceed projected demand for liquefied natural gas by the end of the decade, the Institute for Energy Economics and Financial Analysis (IEEFA) said in a new analysis this week.
Taiwan is buying more LNG for delivery over the next year as it closed a nuclear reactor and is set to phase out nuclear power generation by 2025.