Russian gas giant Gazprom has announced significantly lower sales to Europe so far in 2012 – down 12% to 82 billion cubic meters. This is very surprising as Europe experienced one of their coldest winters ever which caused an increased demand for power and gas. This opens the door to other European gas giants, like France’s […]
Qatar Petroleum is preparing to submitting plans to build a power plant at the South Hook terminal. South Hook is the Europe’s largest liquified natural gas (LNG) terminal, and run by Total and ExxonMobil. Qatar supplies virtually all of the UK’s LNG needs through the South Hook terminal, and is now planning the development of the 500 […]
Angola is planning to open their first liquified natural gas (LNG) terminal in June 2012. Operated by Chevron, the facility will country’s natural gas, mostly from Angola’s offshore gas and oil fields. The LNG facility is located near Soyo, and has been under development since 2008 by Chevron with a cost of $10 billion with […]
Goldman Sachs has called for a 29% gain in the S&P GSCI Enhanced Commodities Index over the next 12 months. The index is heavy on industrial metals and energy. As the EuroZone debt crisis fades and the US and China recovery and their economies start to grow, Goldman Sachs predicts a 41% gain in energy […]
Liquified natural gas (LNG) tankers are the most expensive ships in the world – and prices are rising due to limited competition from inferior Chinese ship builders and rising worldwide demand for LNG, particularly in Asia. The average price for a 160,000 m3 ship is $200 million – the same price as in 2010 before the […]
Iraq’s momentous oil and gas auction was a complete failure. The auction was for blocks of land zoned for oil and natural gas exploration. However due to unfavorable terms in the contract and lack of supporting infrastructure to the auctioned land, very few plots were even bidded on. This was the first competitive bidding process […]
