TEHRAN – Iranian Offshore Engineering and Construction Company (IOEC) and Pars Oil and Gas Company (POGC) signed a deal worth $900 million on Saturday to cooperate in developing the country’s Kish gas field, Shana reported.
As winter approached, Iran was relishing the prospect of falling temperatures that could put Europe in a deep freeze and allow Tehran to bask in the wealth of its formidable natural-gas reserves.
Texas produced 11.2 Tcf of natural gas last year, a new record, according to the Texas Independent Producers and Royalty Owners Association (TIPRO).
The oil ministry has accepted the key
recommendations of the Kirit Parikh committee on domestic natural gas pricing and begun consultations with other ministries before it sends a proposal to the Cabinet.
U.S. natural gas prices fell below $3 per million British thermal units this week for the first time in two years amid continuing warm weather that started a commodity selloff.
Europe’s benchmark gas prices extended losses early on Wednesday, falling by 3% in early trading in Amsterdam for a 25% decline so far this month, as inventories are high and milder weather is expected to return.
China’s natural gas imports are set for a 7-percent rise next year as the country reopens after Covid lockdowns, which could aggravate an already tight supply situation globally
Natural gas consumption in China could see a one percent decline this year, according to a researcher with Chinese oil giant CNOOC
As the hype around green hydrogen intensifies, several energy firms and governments are exploring the potential for transforming existing natural gas infrastructure to be used to transport hydrogen as the world transitions away from fossil fuels. Now, the U.K. has announced a new development, trialing a hydrogen-gas project to see if this vision can become a reality.
The world is investing hundreds of billions of U.S. dollars every year in renewable energy and other clean energy solutions, but it needs more than a trillion U.S. dollars in investments annually if it still stands a chance of reaching net-zero emissions by 2050.