Latest news with #liquefiednaturalgas
Bloomberg
16 hours ago
- Business
- Bloomberg
Puerto Rico Board Cites Deep Concerns Over New Fortress LNG Deal
Puerto Rico's federal watchdog reiterated deep concerns about a contract that would give New Fortress Energy almost complete control of the island's liquefied natural gas deliveries for more than a decade, and said it has serious questions about how the deal was hammered out. 'There appears to be no entity that is accountable to explain the negotiations or the rationale behind the proposed terms and conditions, its impact on ratepayers, and the future of Puerto Rico's energy system,' the Financial Oversight and Management Board wrote in a letter to Josue Colon, the energy czar and the executive director of the Puerto Rico Public-Private Partnership Authority.
Bloomberg
18 hours ago
- Business
- Bloomberg
Global LNG Supply to Surge Most Since 2019 Next Year, IEA Says
By and Elena Mazneva Save Global supply of liquefied natural gas is set to surge the most since 2019 next year, primarily driven by production additions in North America, the International Energy Agency said. The increase in supply will accelerate to 7%, or 40 billion cubic meters a year in 2026, following a 5.5% expansion this year, the IEA said in its quarterly gas market report. A project in Qatar will also add to the growth.
Yahoo
5 days ago
- Business
- Yahoo
Canada's first large-scale shipment of LNG delivered to port in South Korea
A tanker carrying Canada's first major shipment of liquefied natural gas has arrived at a South Korean port, ushering in a new era for Canadian energy exports that some had feared would never come, as the country's natural gas reaches new buyers in premium Asian-Pacific markets. A vessel called the GasLog Glasgow delivered the historic shipment from LNG Canada's terminal in Kitimat, B.C. The analytics firm MarineTraffic shows the Shell PLC-chartered tanker arrived at a major import terminal and storage base in Tongyeong, South Korea shortly after 10 a.m. local time on July 17. Though it is the world's fifth-largest producer of natural gas − with a significantly shorter sailing time to Asian markets compared to competitors on the United States Gulf coast — Canada is a late entry to global LNG markets, nearly a decade after the U.S. and around three decades after Australia and Qatar. Until this week, proponents of the sector had lamented that all of Canada's natural gas exports, averaging around 8.6 billion cubic feet per day (Bcf/d) in 2024, are delivered via pipeline to the U.S. But that is now set to change as LNG Canada continues its ramp-up. Two other tankers have left LNG Canada's terminal and remain in transit, heading to ports in Japan and South Korea. In total, the B.C. terminal has shipped 11 billion cubic feet of natural gas since the facility was commissioned, RBC Capital Markets reported in a research note published Wednesday. The bank based its estimate on the total capacities of the three vessels that have departed from Kitimat so far. The Trudeau legislation Canada's oilpatch hates — and what Carney is doing about it Canadian natural gas prices could climb 60% this year as LNG exports ramp up, Deloitte predicts A fourth vessel — Petro-China-chartered tanker called WuDang — is in the port of Kitimat awaiting loading, RBC said. And three more vessels are expected to arrive to load shipments in the coming weeks. • Email: mpotkins@ Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
E&E News
6 days ago
- Business
- E&E News
Greens challenge Trump's $4.7B loan for Mozambique LNG project
An environmental group is challenging the Trump administration's $4.7 billion loan to French energy giant TotalEnergies to help build a liquefied natural gas project in Mozambique. The Trump administration touted the loan as supporting U.S. manufacturers who will supply the project. But environmental group Friends of the Earth argues that loan was approved by an unlawfully appointed acting board that skipped over public input and downplayed both environmental and regional security concerns, the group argues. Background: The Export-Import Bank loan was first approved during Trump's first term but required additional approval because the project was put on hold in 2021 following insurgent attacks in the area that killed hundreds of residents, including some contractors. POLITICO reported last year on separate human rights abuses by Mozambican security forces operating out of the existing facility. Advertisement The project is still on hold, FOE said. Total CEO Patrick Pouyanné said last month that he expects work to resume sometime 'this summer.'
Bloomberg
15-07-2025
- Business
- Bloomberg
Egypt Delays Some LNG Imports as New Terminals Yet to Start
Egypt is delaying some liquefied natural gas deliveries as its newest import facilities haven't yet started operating. A small number of cargoes due to arrive in July are being rescheduled for next month, people familiar with the matter said, asking not to be identified discussing private information. The delay is not expected to be material or recurring, they said.
