Middle East

Shell Energy expects that several traditionally LNG exporting nations will become net importers. This could drive demand for super-cooled fuel and ease concerns about an oversupply of the super-cooled fuel due to a number of new planned projects. Shell's Executive Vice President for LNG, Cederic Cremers said that Indonesia, Malaysia and Algeria will likely become net importers in the future, as their domestic demand is increasing while their production is decreasing. He said that he predicted that the LNG market would grow by 50 million tonnes between now and the year 2040. These LNG exporters will likely join Egypt which...

China's privately-controlled ENN Natural Gas, and the state-run Zhenhua Oil each signed a contract to purchase liquefied gas from Abu Dhabi National Oil Company. ENN Natural Gas announced on its WeChat official account on Saturday the contract covers annual supplies of around one million metric tonnes for 15 years. This is ADNOC’s largest LNG deal with a Chinese customer. ENN stated that the deal was a major step towards stabilizing and diversifying energy supplies. Shanghai-listed ENN Natural Gas is offering to buy the remaining shares of Hong Kong-listed ENN Energy for approximately $7.65 billion. A Chinese source familiar with the...

China's privately-controlled ENN Natural Gas, and the state-run Zhenhua Oil each signed a contract to purchase liquefied gas from Abu Dhabi National Oil Company. ENN Natural Gas announced on its WeChat official account on Saturday the contract covers annual supplies of around one million metric tonnes for 15 years. This is ADNOC’s largest LNG deal with a Chinese customer. ENN stated that the deal was a major step towards stabilizing and diversifying energy supplies. Shanghai-listed ENN Natural Gas is offering to buy the remaining shares of Hong Kong-listed ENN Energy for approximately $7.65 billion. A Chinese source familiar with the...

Asyad Shipping, a shipping company in Oman, raised $332.8m after pricing its initial offering at the upper end of a price range. Asyad Shipping will have a capitalisation market of approximately $1.66 billion following the listing. It focuses on transporting crude oil, liquefied gas and other products. Asyad Group, Oman's state owned logistics company, sold at least 20 percent of Asyad Shipping’s total share capital during the IPO. Oman has stepped up its privatisation efforts to attract foreign investors. This, together with fiscal reforms has helped the Sultanate to pay down its debt and turn a large fiscal deficit in...

By America Hernandez LONDON, February 25 - The CEO of the private Ukrainian gas company DTEK said on Tuesday that it hopes to sign a long-term import deal with U.S. companies Venture Global or Cheniere Energy in March to supply gas to Ukraine and its neighbours Slovakia and Poland. Maxim Timchenko, DTEK’s trading arm, said that the company is seeking to sign an LNG contract lasting 10-20 years. The gas will be imported first into Ukrainian storage facilities before being piped westward. "It is an active discussion about our trading arm. Another round of meetings and discussions will take place...

GAIL India Ltd. will look to purchase a stake or long-term supply of U.S. Liquefied Natural Gas after the Trump Administration lifted its ban on export permits. Gupta said ahead of India Energy Week that "their (Washington) decision to lift their ban will improve LNG supplies and we will revive plans to buy a stake in U.S. LNG or to buy U.S. LNG through long-term contracts." He said that the company will make a final decision following a long-term LNG purchase tendering process. India is currently the fourth largest LNG importer in the world. It aims to increase the gas...

The U.S. president Donald Trump lifted the moratorium on new export permits of liquefied gas imposed by Joe Biden, his predecessor in January 2024. Trump's executive order targeting the LNG industry was part of the series of policy initiatives to increase U.S. energy output. Biden has halted all new approvals until a study is completed on the economic and environmental effects of the export boom. The study was published in December. The U.S. LNG production was going to double, regardless of the moratorium. Biden had stopped new permit approvals before the government gave the green light for projects to increase...

Qatar has actually agreed an offer to supply India's leading gas supplier GAIL with liquefied gas for 5 years, three sources familiar with the matter stated on Monday. QatarEnergy Trading will ship one freight a month to GAIL beginning in April, the sources said. The gas will be priced at around 115% of Henry Center plus $ 5.5-$ 6 per million British thermal units (mmBtu), the sources said. QatarEnergy and GAIL did not right away react to requests for remark. India is improving gas imports as Prime Minister Narendra Modi intends to raise the share of gas in the country's...

Cheniere Energy raised its annual core earnings forecast after greater demand for melted gas helped the business beat thirdquarter quotes on Thursday. Asian spot LNG prices increased to their highest in more than eight months in August, with warmer temperatures throughout the region enhancing power need for cooling functions. The business stated previously this year it had a more useful outlook for the rest of the year, betting on greater need from Asia. Houston, Texas-based Cheniere exported 158 LNG freights in the quarter, up about 4% throughout the years earlier. The LNG producer likewise raised its 2024 changed core profit...

U.S. melted gas exports this year will increase about 2%, analysts price quote, the smallest annual increase considering that 2016 when the first big U.S. LNG export plant opened, introducing a boom that drove the country's manufacturers to the top of world gas exporters. Slower gains show hold-ups and production blackouts and the absence of a new facility given that March 2022 when Venture Global LNG's launched its Calcasieu Pass, Louisiana, project. This year's 2% boost in export volumes, to 12.1 billion cubic feet each day (bcfd), is below 12% in 2015 and the average growth rate of 43% in...

Federal regulators on Thursday provided an Exxon Mobil and Qatar Energy LNG joint venture a 3year extension to end up constructing their Golden Pass LNG plant, a regulatory file showed. The extension was approved due to hold-ups triggered when lead construction specialist Zachry Holdings declared insolvency in March, according to a Federal Energy Regulatory Commision filing. The project, at the Sabine Pass website of a former gas-import terminal that was transformed to process natural gas for LNG exports, is one of 2 large U.S. LNG centers whose startups were anticipated to considerably expand materials from the world's. top exporter of...

The developer of a Texas melted gas export task on Wednesday asked U.S. regulators for a threeyear extension to total building of the $10 billion Golden Pass LNG task, mentioning scheduling unpredictabilities. Golden Pass LNG, a joint endeavor of QatarEnergy and Exxon Mobil building an 18 million metric heap per annual LNG export project on the Texas coast, wrote that a. change in primary professionals needs an extension until. November, 2029. Exxon and QatarEnergy this month said the job start-up. would be delayed up until late next year. The present approval. ends in November 2026 and the demand indicates a...

Fixed income news service IFR announced on Tuesday that Saudi oil giant Aramco had launched the sale a three-part dollar-denominated debt, with tranches maturing in five, ten, and thirty years. IFR reported that the oil giant set an indicative price of 115 basis points for the 5-year tranche, and the 10-year and 30 year tranches have initial price guidance at 130 bps and 182 bps, respectively, over U.S. Treasuries. The price is expected to be set later on Tuesday, and the deal will be a benchmark size. This is usually at least $500m. Citi, Goldman Sachs International and JPMorgan lead...

Three sources with direct knowledge of this matter and a document show that the Iraqi oil ministry sued the government of Iraq's semi-autonomous Kurdistan Region over oil and natural gas contracts signed with U.S. companies. The legal challenge is a new obstacle to the restart of oil flows through the Iraqi-Turkish pipeline, which have been stopped since March 2023 despite the pressure from the Trump administration. Masrour barzani, prime minister of Kurdistan Regional Government (KRG), oversaw the signing two energy contracts worth a total of $110 billion in their lifetimes, with U.S. firms HKN Energy, and WesternZagros. Has contacted companies...

The National Oil Corporation (NOC), which operates in Libya, announced on Saturday that an oil leak had forced the closure of a pipeline located south of the city of Zawiya. Libya's largest refinery is located in Zawiya (40 km/25 miles west of Tripoli), with a daily capacity of 120,00 barrels. The refinery is connected to the country's 300,000-barrels-per-day Sharara oilfield. The NOC published a photo showing a flow of oil leaking in the desert. The company announced in a press release that the flow of oil from the Hamada fields through the affected pipe was immediately stopped. "A team of...

Two people with knowledge of the situation said that Aramco, Saudi Arabia's oil giant, is looking for investors to help finance its $100 billion Jafurah Gas Project. Saudi Aramco is aiming to be a major player in the global natural gas market by 2030 and increase its production capacity of gas by 60% from levels reached in 2021. Jafurah is the largest shale project outside the United States. It will begin production this year, and increase to 2 billion cubic foot per day by 2030. In 2024, the U.S. will produce around 80 billion cubic foot per day of shale-gas....

Chris Wright, the U.S. Energy secretary, said that there is plenty of opportunity for U.S. collaboration on oil and natural gas development in Iraqi Kurdistan. This was despite Iraqi federal government's dispute over deals signed by U.S. firms with this region earlier this week. The Iraqi Kurdish Premier Masrour barzani signed two agreements with U.S. firms HKN Energy & WesternZagros in Washington this week. These deals are worth a total of $110 billion. Wright said at a Washington conference: "I see a great opportunity for American collaboration there, as evidenced by these two deals. We would love to see this...

Iraq's Oil Minister said the federal government had reservations about the energy agreements signed by Iraqi Kurdistan, after Iraqi Kurdish Premier Masrour barzani oversaw two deals worth $110 billion in total over their lifetimes. Hayan Abdel Ghani, a reporter on Wednesday, said: "Agreements like these should be signed by federal government." The agreements concern the development of the Miran, Topkhana-Kurdamir and Kurdamir-Topkhana gas fields in northern Iraqi Sulaimaniya. On Tuesday, the federal oil minister that Abdel-Ghani heads called the deals “null and null”. In response, the Kurdistan Regional Government's (KRG) Ministry of Natural Resources issued a statement stating that these...

Osama Rabi, the chief of Egypt's Suez Canal Authority, has said that the authority will consider offering transit fee discounts between 12% and 15% to help restore the traffic on the strategically important waterway, which is reeling after the Houthis' attacks on Red Sea shipping. Rabie, in a telephone interview with the privately-owned Sada al-Balad TV channel, said that discounts would be available within a few days of ratification from Egyptian President Abdel-Fattah al-Sisi. He said this after the revenue from the Canal continued to plummet due to attacks by Yemeni Houthis on shipping, who claim they are trying shut...

Calculations showed that the Russian energy giant Gazprom’s pipeline gas exports into Europe fell by 44% between January and April compared to a period a year ago after the closure of transit via Ukraine in January 1. Calculations showed that the Russian pipeline gas exports into the region fell to 5.7 billion cubic meters (bcm), from 10.2 bcm during the same period of 2024. The only remaining transit route for Russian gas pipelines to Europe is the Turkey after Ukraine decided not to renew a five-year deal with Moscow that expired in January. The calculations based on the data of...

First Abu Dhabi Bank, the largest lender in the United Arab Emirates by assets, exceeded first-quarter profit expectations on Tuesday. This was boosted by a strong increase in non-interest revenue from fees and commissions. Sources say that the results are part of a reorganization by FAB aimed at strengthening their business in Gulf and increasing shareholder returns. Sources told us last month that FAB will split its operations into four divisions, and have appointed Citi dealmaking veteran LinosLekkas to be its new head for investment banking. Hana Al-Rostamani, the new head of FAB since 2021, is following a number of...

Mohsen Paknejad, the Iranian Oil Minister, said that during his visit to Moscow last Friday, Iran would increase cooperation with Russia in banking and agriculture. He also stated that he would remove all barriers between Russia and Iran in any sphere of cooperation. Since the beginning of the conflict in Ukraine, Russia has strengthened its ties with Iran and signed an agreement for strategic partnership with Tehran in January. Both countries are subject to Western sanctions. Paknejad, speaking on state television earlier on Friday said that Iran would sign a $4-billion agreement with Russian companies for the development of seven...

Four trading sources said that the discount for Russian Urals oil cargoes loaded in May to Brent dated this month remained at this month's levels, even though Saudi Arabia reduced its official selling price of oil. They said that May Urals cargoes were selling at a discount of $2.50-3 a bar to dated Brent, on a DES basis (delivered from ship), which is close to the estimates for April cargoes. "Urals Prices held firm despite Saudi Arabia’s decision to cut prices for the competing Arab Light Oil. Russian barrels are very much in demand," said an Urals trader. Saudi Arabia's...

An industry source said that Kazakhstan's oil production fell during the first two weeks in April compared to the average for March, but it is still higher than the OPEC+ quota after months of overproduction. Sources said that the central Asian country's crude oil production, excluding the gas condensate was down by 3% between April 1-13 compared to the average of March at around 1.82 million barrels a day. This is due to a decline at the Chevron Tengiz Field, they added. Kazakhstan, a country in the top 10 oil producers, has consistently exceeded the quotas established by OPEC+. This...