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Williams welcomes Trump's support of the Constitution Gas Pipeline
Williams Cos stated on Friday that it appreciates the support of U.S. president Donald Trump for the Constitution Natural Gas Pipeline Project through New York. It is interested in reviving the project, if the conditions are right. Trump and New York Governor Kathy Hochul met on Friday morning to discuss the possibility of reviving a project that Williams had canceled in 2020 due to opposition from New York politicians and environmentalists. Trump is in favor of a massive expansion of the energy industry and infrastructure, which he believes will lead to what he calls "energy dominance". Williams, in an email sent to the. We are interested in building Constitution Pipeline, as long as there is enough customer demand, support from Northeast Governors including Governor Hochul to reduce the risk of expensive permitting delays, legal battles and injunctions. Williams also expressed optimism about a possible reform of the permitting process in Congress, which would make it easier for projects to be advanced. Hochul's Office said that the conversation with Trump included energy policy and tariffs. While no formal decisions or agreements were made, the conversation was productive and we look forward in continuing the dialogue over the next few weeks," said Jerrel Harvey, a spokesman for the Department of State. The White House has not yet commented. The Constitution project could move up to 650 millions cubic feet of gas per day, from the Marcellus Shale formation in Pennsylvania, to New York consumers. Trump's dispute over tariffs with Canada could lead to higher electricity prices for New Yorkers. Ontario, a province in Canada, threatened to charge a 25% extra on electricity that it sent into New York earlier this week. Trevor Hunnicutt, Richard Valdmanis and Nia Williams edited the article.
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CERAWEEK and Chevron advance plans to develop US data centres with power generation
Chevron has plans to meet the demand for data centers. The oil giant recently entered the engineering and permitting phases of multiple U.S. locations to build the centers, and to provide the electricity they need, said a company executive this week. The energy consumption of U.S. Data Centers, which are basically giant server warehouses in the United States, is expected triple over the next three year as the race for artificial intelligence intensifies. Big Tech has signed unprecedented deals with utilities and nuclear power plants to access large quantities of electricity quickly. This growth, coupled with the need for large amounts of electricity quickly, is upending the power industry in the country, which has seen a record high demand following a dismal growth rate over the past two decades. It is also driving the consumption of natural gas. Big Oil has tapped into this growth. Last year, Exxon Mobil and Chevron announced that they would begin power generation for data centers, using a large portion of the natural gas produced by their companies. The oil majors have traditionally used the majority of their power generation for their own operations. Daniel Droog - Vice President of Power Solutions at Chevron - said that "the customer interest is high" in an interview given at the CERAWeek Conference in Houston, this week. It's trying to meet the need where it's needed because they are building or expanding new facilities at a pace that is ahead of power supply. Data centers that were once around 20 gigawatts are now 50 times larger and require as much electricity around the clock as a mid-sized town. Droog stated that Chevron plans to develop data centers and power plants with a capacity of around 1 GW and is targeting their completion in 2027-2028. The executive stated that "we're really focused" on speed, scale and reliability. He didn't disclose Chevron customers or the exact location of data centers in development, but he said that the company was targeting the Midwest, the West, the South and the interior west for its data centers. Chevron data centers will not be connected to a grid, and they'll be powered primarily by natural gas. Some sites may be able to accommodate carbon capture and other sites could include the installation of renewable energy. Data centers are increasingly using natural gas as a fuel. This is despite the fact that Big Tech had avoided it in their various climate pledges of recent years, which called for them to switch to renewable energy sources to power their operations. Gas-fired power stations are more efficient than other sources of energy like nuclear because the fuel is abundant and relatively cheap in the U.S. Chevron is scheduled to receive seven GE Vernova Gas turbines in 2026, which will be used for the generation of electricity. Turbines are on a growing backorder. Some companies report that orders for large turbines take five years to deliver. (Reporting and editing by Liz Hampton, Marguerita Choy and Laila Kearney)
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Williams welcomes Trump's support of the Constitution Gas Pipeline
Williams Cos stated on Friday that it appreciates the support of U.S. president Donald Trump for the Constitution Natural Gas Pipeline project in New York. The company is interested in reviving the project if the conditions are right. Trump said on Thursday that he would meet New York Governor Kathy Hochul in the morning of Friday for discussions. These could include a potential revival of the project which Williams cancelled in 2020 due to opposition from politicians in New York and environmentalists. Trump is in favor of a massive expansion of the energy industry and infrastructure, which he believes will lead to what he calls "energy dominance". Williams, in an email sent to the. We are interested in building Constitution Pipeline, provided that there is enough customer demand, support from Northeast Governors including Governor Hochul to mitigate the risks of costly permits delays, court battles and injunctions while construction. Williams expressed hope that Congress would reform its permitting laws to facilitate the advancement of projects. Trevor Hunnicutt, Richard Valdmanis and Nia Williams contributed to this report.
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Executive says that Brazil's Petrobras is in negotiations with US LNG suppliers to secure a long-term agreement.
Petrobras, Brazil's state run oil company, is in negotiations with U.S. LNG suppliers to establish a long-term deal for imports. Brazil is Latin America’s largest oil producer but it consumes more than it produces, and depends on imports to make up the difference. Petrobras imports LNG and buys pipeline gas in Bolivia to meet its domestic needs. The U.S. exports the most LNG in the world. Mauricio tolmasquim is Petrobras director of energy transformation and sustainability. He spoke to CERAWeek in Houston on the sidelines. Petrobras, a Brazilian energy company, and British energy supplier Centrica announced last month a partnership. Contractual Terms The Brazilian company will purchase 0.8 million tonnes per annum (MTPA), of LNG, for 15 years starting in 2027. This was Brazil's very first long-term LNG agreement. Petrobras can be assured of reliable LNG supplies with long-term contracts, as opposed to buying on the spot market. Brazil is also seeking to increase its own production, and is currently negotiating with Argentina to import LNG through pipelines that run through Bolivia. Tolmasquim stated, "We want to purchase from Argentina. Yes, we do. But, as with any business, it is important to compare other sources of gas (including) domestic LNG. In recent years, companies and governments from Brazil, Argentina, and Bolivia were in discussions to use the existing regional transport infrastructure to reverse gas flow so that supplies of the massive Vaca Muerta shale formation in Argentina could reach Brazilian customers, including Petrobras. We continue to speak. "I think there's a real chance to make a deal," Tolmasquim stated. He added that negotiations on the price of Argentine gas passing through Bolivian infrastructure on its route to Brazil have advanced since last year. He added, "We're talking about the price that we need to be able to accept by most parties." Tolmasquim stated that the reshuffle in the gas flow could benefit Bolivia as it is a traditional supplier of gas for the region. However, its own production has been shrinking to barely meet domestic demand. (Reporting and editing by Simon Webb, Marguerita Choy, and Marianna Pararaga)
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Kazakhstan increases oil exports through Baku-Tbilisi - Ceyhan pipeline by February
According to data provided by pipeline company KazTransOil, the number of metric tons exported in February, up from January, was 97,300 (roughly 28,000 barrels a day). Kazakhstan relies heavily on Caspian Pipeline Consortium, one of the largest pipelines in the world that crosses Russia and reaches the Black Sea port Novorossiisk. The BTC pipeline is the main alternative route for the CPC. It originates from Azerbaijan, on the other side of the Caspian Sea to Kazakhstan. To get Kazakh oil into Baku, either tanker shipments must be made across the Caspian Sea or a transcaspian pipeline needs to be built. The fleet is small, and talks about a pipeline between the states that border the Caspian Sea have been stalled by territorial disputes for decades. KazTransOil said that the oil exports to China via the Atasu - Alashankou pipeline fell by 9% in the same month compared to the previous one to 73 685 tons. David Evans (reporting)
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South Korea's MFG purchases about 137,000 t corn, traders claim
Major Feedmill Group, a South Korean company, purchased approximately 137,000 metric tonnes of animal feed corn at an international auction on Friday. A 69,000-ton consignment that was to come from South America or South Africa alone, plus a $1.50 surcharge per ton for port unloading costs, were purchased at an estimated cost and freight of $260.25. Cargill, a trading company, is believed to have sold the corn from South America/South Africa. It should arrive in South Korea by July 10. A second consignment, 68,000 tons of optional origins, was purchased at a cost of $253.49 per ton plus $1.50 for port unloading. The optional origin corn is expected to arrive in South Korea on or around June 25, and its seller is believed to be the trading house Olam. The MFG was looking for up to 140,000 tonnes of corn with separate offers from South America/South Africa origin or optional origin from the United States. The reports reflect the assessments of traders. Further estimates on prices and volume are possible in the future. South Korean importers have been buying heavily in the past days, after U.S. Corn futures dropped about 2% last week. (Reporting and editing by Michael Hogan)
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UK police given more time to question ship crash captain
British police confirmed on Friday that they had been granted additional time to interview the Russian 59-year-old captain of a container vessel which crashed into an American tanker earlier in the week. After his arrest for gross negligence manslaughter following the collision of his ship with the Stena Immaculate, a tanker carrying U.S. Military jet fuel, the captain of the Portuguese flagged Solong is being held in police custody. The incident is believed to be the cause of death for one crew member, while 36 crew members were rescued and brought to shore. Police said that a court granted an additional 24 hours of custody to the man, in addition to the 36-hour extension previously granted. The coastguard reported that salvage companies had boarded both vessels on Thursday to assess the initial damage. Small fires could still be seen on the Solong’s top deck. The police said that extensive lines of investigation were being pursued, but it would take time because the vessels are still at sea. There were also a lot of witnesses. The police stated that "additional time was necessary for the investigation because of the complexity of the incident." (Reporting and editing by Catarina demony; Sarah Young, reporter)
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Asian spot LNG prices dip amid tepid demand
The Asian spot price of liquefied gas (LNG), which is a product of the Atlantic basin, fell this week to its lowest level in three months as tepid regional demand persists. Average LNG price for delivery in April to northeast Asia Industry sources estimate that the price per million British Thermal Units (mmBtu) is $13,40. Estimated average prices for May deliveries were $13.20/mmBtu. Martin Senior, Argus' head of LNG pricing said that the Japanese demand was muted. Some Japanese utilities sold cargoes instead of buying, he added. Martin Senior also noted that utilities had healthy stocks despite recent cold weather, as their inventories were already high heading into winter. The data from the Industry Ministry showed that LNG inventories held in Japan by major electric utilities reached 1.79 million tons on March 9 compared to 1.48 million tonnes at end-March of last year. Senior said that South Korean buyers have been buying cargoes in the last week to replenish their stocks following a cold spell at the end of winter. Siamak Adibi, FGE analyst, stated that while Asian LNG demand is weak and March imports are expected to end similar to those of February, Europe has continued to import high volumes of LNG. Total imports will likely be slightly less than 12 million tonnes by the end March. He said that the pipeline supply in Norway is almost full, and gas withdrawals have been high because of increased consumption, especially by residential, commercial and power sectors. This was mainly due to weather conditions. The main concern on the market is Europe's low underground inventories. In order to maintain the balance of the market, LNG imports will continue to be high. Market attention is also on the comments of Russian President Vladimir Putin who, amid talks of a possible cessation in the conflict in Ukraine mentioned a possible energy collaboration between the U.S.A. and Russia and a pipeline for Europe. S&P Global Commodity Insights estimated its daily North West Europe (NWM) LNG Marker price benchmark on March 13 at $12.411/mmBtu, a $0.55/mmBtu reduction from the April gas prices at the Dutch TTF Hub. Spark Commodities set the price at $12.82/mmBtu for delivery in March, while Argus put it at $12.51/mmBtu. Qasim Afghan, an analyst at Spark Commodities, stated that the U.S. arbitrage for northeast Asia via Cape of Good Hope has widened, and this is the first time it has been widening in nearly two months. This encourages U.S. cargoes being delivered to Europe. He added that the LNG market saw a rise in rates this week, with the Atlantic region seeing the highest rates for four months at $25,750/day. Meanwhile, Pacific rates increased to $19750/day.
UK police given more time to question ship crash captain
British police confirmed on Friday that they had been granted additional time to interview the Russian captain, 59 years old, of a container vessel that collided with a U.S. oil tanker this week.
After his arrest for gross negligence manslaughter following the collision of his ship with the Stena Immaculate, which was carrying U.S. Military jet fuel, the captain of the Portuguese flagged Solong is being held in police custody.
The incident is believed to be the cause of death for one crew member, while 36 crew members were rescued and brought ashore.
Police said that a court granted an additional 24 hours of custody to the man, in addition to the 36-hour extension previously granted.
The coastguard reported that salvage companies had boarded both vessels on Thursday to assess the initial damage. It said in a Friday update that there were only periodic small pockets of fire which did not cause "undue concerns".
The police said that extensive lines of investigation were being pursued, but it would take time because the vessels are still at sea. There were also a lot of witnesses.
The police stated that "additional time was needed for the investigation because of the complexity of the incident."
In a Telegram message, the Russian embassy in London shared that they had "a detailed telephone conversation" on Thursday with the captain and that he is feeling well.
The embassy stated in its statement on Friday that it is in constant contact with British authorities and the police station, where the captain was being held. (Reporting and editing by Catarina demony; Sarah Young, Sam Tabahriti)
(source: Reuters)