Updated Aug 22, 2024
8/22/24
The European Commission (EC) this week is considering a ban on transshipments or re-exports of Russian LNG through European Union (EU) ports as part of Brussels’ latest sanctions package.
Anyone wanting to perfect the basic fundamentals of trading and optimizing LNG sales on the global market probably need look no further than to Shell plc.
NO. 1: A gas leak at the Hammerfest LNG export terminal in Norway that occurred during maintenance has shut the plant down until Friday.
ExxonMobil profits for the first three months of this year are expected to dip sharply year/year and be down sequentially in part because of weak natural gas and oil prices, the integrated major said. Shell plc also has revised its expectations.
Long-term offtakers of Venture Global LNG Inc.’s Calcasieu Pass terminal in Louisiana are again pressing FERC to make the export project developer provide information about the facility, this time targeting a request to extend the commissioning process.
Shell plc has tempered its expectations for peak LNG demand over the next two decades, but the top natural gas trader still expects the current buildout of export capacity led by the United States to fall short of rising global consumption driven by Asia.
Shell plc is looking to intervene in a complaint against Venture Global LNG Inc. one of its fellow contract holders, BP plc, filed with FERC late last year.
The deepwater Gulf of Mexico is getting renewed attention by Shell plc, which recently sanctioned two big projects in a row.
Venture Global LNG Inc. CEO Michael Sabel said some of the company’s long-term offtakers are attempting to undermine the new exporter’s competitive edge in pointed comments published Tuesday by the Financial Times.
Mexico Pacific Ltd. LLC has reached an agreement with the government of Chihuahua state to facilitate development of the proposed 2.8 Bcf/d Sierra Madre natural gas pipeline.