Africa Oil & Gas: Egypt to slice LNG imports to 80 cargoes as domestic gas output grows

 

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LNG imports slice due to higher domestic production

Egypt is reportedly planning to significantly scale down imports of liquefied natural gas (LNG) in the current financial year as its domestic gas production continues to rise. Continue reading

Global Markets: Is LNG Moving From A Buyers’ To A Sellers’ Market?

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Image courtesy of Shell

The glut continues, making it a buyers’ market with a decided shift towards short-term contracts. In China, the move is particularly pronounced. Smaller, independent energy companies are rushing to build LNG terminals along the coast to take full advantage of the growing domestic demand for the fuel. Low prices don’t bother them—they are happy to tap the spot market while the getting is good. However, according to at least one industry insider, this may soon change.

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Mozambique Oil & Gas: Anadarko, Eni sign maritime terminal concession contracts in Maputo

LNG Maritime Concessions signed

From Left to Right: Anadarko Country Manager, John Bretz, Mineral Resources Minister Leticia Klemens and Fabio Castiglion – Eni Country Manager (image courtesy of Anadarko)

US-based group Anadarko Petroleum and Italian ENI have signed with the Mozambican government on Thursday the maritime concessions contracts for the construction of the LNG maritime terminal and facilities for materials discharge on the Afungi peninsula, according to the press Mozambican. Continue reading

Global Oil & Gas: ExxonMobil’s profit doubles in Q2

 

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Darren Woods (Image: ExxonMobil)

US energy giant and LNG player and future Rovuma basin Mamba developer, ExxonMobil, said Friday that second-quarter profit doubled on higher oil and gas prices. Continue reading

Global Oil & Gas: A Worldwide Gas Glut Claims $27 Billion Victim in Canada

Gas Glut.

A $27 billion energy project in Canada just became the latest casualty of a worldwide glut of natural gas.

(Bloomberg) – A $27 billion energy project in Canada just became the latest casualtyof a worldwide glut of natural gas. Continue reading

Global Markets: Japan’s Tokyo Gas Pushes to Revise LNG Supply Contracts

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Japan Hitachi LNG terminal

Japan‘s Tokyo Gas, the biggest city-gas supplier in the world’s largest importer of liquefied natural gas (LNG), is in talks to renew supply contracts and will push to revise terms to get more flexibility and cut prices, a senior official said on Thursday. Continue reading

Africa Oil & Gas: Qatar LNG expansion plans, a collateral damage to East African gas projects

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Image courtesy of BP

Qatar plans for LNG capacity expansion could be bad news for projects in east Africa operated by Eni, Anadarko, Shell and Statoil that have yet to take final investment decisions (the Eni-led Coral floating LNG project offshore Mozambique announced its FID on June 1 – BP is the venture’s off-taker). However, such pending projects could be saved if an Asian buyer saw them as a way of weakening Qatar or simply of diversifying away from Qatar.

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