PetroChina plans to buy a 20% stake in a Shell liquid natural gas property in Canada for more than $1 billion. Word on the street is that PetroChina, China’s biggest oil-and-gas producer and distributor, plans to pay slightly more than $1 billion for a 20% stake in a Shell shale gas property in Canada. For [...]
The U.S. Energy Department cut its estimate for natural gas reserves in the Marcellus shale formation by 66 percent, citing improved data on drilling and production. About 141 trillion cubic feet of gas can be recovered from the Marcellus shale using current technology, down from the previous estimate of 410 trillion, the department said today [...]
Fungibility is underrated. Take a bunch of hydrogen and carbon atoms, link them together in certain ways, and they can become among the most useful and concentrated sources of energy on earth. But markets can be awfully fickle about what they are willing to pay for the same unit of energy. Right now in the [...]
Exporting large amounts of US natural gas will significantly increase energy prices for domestic consumers, government analysts said in a report that will fan debate over the best use of bountiful supplies of the fuel. The study by the US Energy Information Administration was issued as eight companies are seeking permission to liquefy and export [...]
No issue in Latin America this year may be more fraught with volatility than energy. The Mayan calendar prophesied the end of the world this December. But for Latin America’s energy scene, the year is shaping up to be anything but a march toward the end of time. There are several themes to consider as 2012 unfolds. [...]
Qatar Petroleum (QP) could reconfigure its US import terminal to export gas in a bid to cash in on the US supply glut arising from the shale gas revolution, says one of Qatar’s prime ministers. The multibillion-dollar facility was procured before the US began producing abundant quantities of natural gas from hydraulic fracturing – or [...]
Cheniere Energy Partners has entered into a long-term gas supply with the Gas Authority of India Limited (GAIL) for the Indian state owned company to buy 3.5 million tonnes a year of liquefied natural gas. “GAIL has signed a sales and purchase agreement [SPA], for supply of LNG over 20 years, with Sabine Pass Liquefaction, [...]
In a turnaround that would have been unthinkable a few years ago, the US is predicted to become the world’s top oil and gas producer by 2020, passing Russia and Saudi Arabia. The growth in extraction from shale has made the US the world’s largest producer of natural gas. It is now poised to enter [...]
Nexen Inc. has announced a $700-million deal with Japan’s largest oil and gas company to develop its shale gas lands in northwestern British Columbia, with tentative plans to build a liquefied natural gas export terminal on the west coast. In a release early Tuesday, the Calgary-based oil company said it will sell a 40 per [...]
Trinidad faces competition for markets like Dominican Republic. News that Houston-based Cheniere Energy had signed a liquefied natural gas, or LNG, purchase agreement with the BG Group roared across the energy world recently. In May, Cheniere announced approval by the U.S. Department of Energy to export over 800 billion cubic feet of natural gas per [...]
