U.S. LNG Traffic Faces Further Pressure from Panama Canal Limits Amid Drought – The Offtake
A roundup of news and commentary from NGI’s LNG Insight
A roundup of news and commentary from NGI’s LNG Insight
Natural gas futures rallied for a fifth straight session Monday, powered by a tightening domestic market and global supply worries spawned by threats of an LNG worker strike and the sudden eruption of war in the Middle East, a key energy producing region.
Australia’s competition watchdog expects a slight natural gas supply surplus for domestic markets early next year, but the supply balance remains tight as LNG exports from the East Coast are expected to rise.
Chevron Corp. disclosed it has agreed to the terms of a deal with union workers at its Australia LNG facilities that was brokered by the country’s Fair Work Commission (FWC).
Labor unions went on strike Friday at Chevron Corp.’s Gorgon and Wheatstone LNG export terminals in Western Australia, and no further negotiations over pay and working conditions are planned, the company said.
Editor’s Note: This column is part of a regular series by industry veteran Brad Hitch for NGI’s LNG Insight dedicated to addressing the complexities of the global natural gas market.
Woodside Energy Group Ltd. said Thursday it has a tentative deal with labor unions to avert a strike at its North West Shelf (NWS) LNG terminal in Western Australia, while Chevron Corp. indicated it was moving closer to a similar settlement at its facilities.
Woodside Energy Group Ltd. is considering whether to take one of the five LNG trains connected to its North West Shelf (NWS) Project offline as it works to attract more third-party natural gas partners.
Global LNG prices ratcheted up at the start of the week as the latest news on potential Australian labor action at one of the country’s largest export facilities increased the risk of European and Asian competition ahead of winter.
Commonwealth LNG LLC disclosed it has reached a milestone in the development of its 9.3 million metric ton/year (mmty) proposed natural gas export facility in Cameron Parish, LA with a combined equity, offtake and feed gas supply agreement.