Venture Global LNG’s Post

National Grid Plans to Sell Europe’s Largest LNG Import Terminal  https://ift.tt/VywnZXB National Grid plc announced it would sell the Grain LNG terminal in the UK, Europe’s largest import facility, to help fund its capital investment plans.  The utility said it would invest roughly $76 billion over the next five years for its energy infrastructure network in the UK and the United States to support the energy transition and its own growth.  The company also said it would sell National Grid Renewables, its U.S. onshore renewable energy business. Moving ahead, National Grid said it would focus on interconnectors in the UK and competitive electricity transmission projects in the United States, among other things. [Data Center Demand: How is the growth in artificial intelligence and data centers expected to impact the natural gas industry? What obstacles and opportunities lie ahead to serve the power-hungry facilities? Tune in to NGI’s podcast to learn more.] It also issued $9 billion in new shares to help fund its investment plans. The company did not say how much it would sell the Grain terminal for. The facility is located on the Isle of Grain in Kent. It has a capacity to import 15 million metric tons/year (mmty) of liquefied natural gas, and it can store up to 1 mmty.  LNG imports delivered to the UK are often re-exported to Europe to meet gas demand, where the United States has become the largest supplier of the super-chilled fuel. U.S. offtakers have been providing more than 40% of the continent’s LNG since Russia invaded Ukraine and cut off European gas supplies, according to Kpler data.  More recently, Venture Global LNG Inc., which operates the Calcasieu Pass terminal and is building the Plaquemines export facility, both in Louisiana, signed a deal to secure 3 mmty of import capacity at Grain for a 16-year term. The post National Grid Plans to Sell Europe’s Largest LNG Import Terminal  appeared first on Natural Gas Intelligence EXEDRA via Daily GPI – Natural Gas Intelligence https://ift.tt/TJh2Avt May 24, 2024 at 09:36AM

WOODSIDE ENERGY EXPECTS A 50% INCREASE IN LNG DEMAND BY 2034 Woodside Energy expects demand for liquefied natural gas to increase by 50% over the next ten years driven by Asia, Bloomberg has reported, citing chief executive Meg O’Neill. “We’re seeing signs of that demand growth in emerging Asia,” O’Neill told the publication. “There’ll be points in time where we’ll see a fair amount of new supply arriving, but the demand growth is really likely to absorb that over the course of the coming years,” she added. In her comments, O’Neill echoes the forecast of fellow LNG major Shell, which earlier this month said it expected demand for the superchilled fuel to gain 50% by 2040, again citing strong demand from the emerging nations of Asia. Despite the fact that demand for natural gas has peaked in some regions, Shell expects global demand to peak after 2040. This view on demand peak is more than 10 years further out in time compared to the most recent estimates by the International Energy Agency. The IEA sees demand for all hydrocarbons peaking before 2040. Woodside, like Shell, is quite upbeat in its gas demand projections, saying gas will be needed to back up intermittent wind and solar over the long term. Germany recently provided proof for that: the Scholz government is building four new gas-powered plants for that reason, with the total price tag at $17 billion. The plants will be hydrogen-ready in case hydrogen becomes a viable alternative for gas in power generation. With a view to this strong demand, Woodside continues to expand its gas operations and recently made an attempt to add an acquisition to its growth efforts. The company was in talks with local heavyweight Santos but the two failed to reach a deal that would be satisfactory to both. Had they ended successfully, the deal would have created an LNG giant in the Asia Pacific.

Kudu Gas: A Transformative Leap for Namibia Towards Energy Independence - Energy Capital & Power: Kudu Gas: A Transformative Leap for Namibia Towards Energy Independence  Energy Capital & Power

#Latin #America, along with the #Middle #East and #North #Sea, is set to be a pivotal region for the next wave of global upstream #oil and #gas #investments, according to #Rystad #Energy. https://lnkd.in/eqjpd_4G

Ithaca Energy takes full control of North Sea gas field in deal with Shell   Ithaca Energy PLC said it plans to acquire the remaining 30% stake in Cambo from Shell PLC, subject to regulatory approval. 🔽 Find more info in comments below 🔽 #IthacaEnergy #Shell #Cambo #OffshoreOilandGas #OilandGasNews ⤵️ Click Follow on our page to keep up to date with energy news ⤵️

#OEUK: New #NorthSea oil, gas #licenses to strengthen #DomesticEnergySecurity https://buff.ly/40f0Rkc #EntraConsulting #oil #gas #energy #shale #renewableenergy #petroleo #energia #electricidad #energiasrenovables

New Post: Norwegian gas production increases on start-up of Dvalin field - https://lnkd.in/e_Jq9TWi Fossil Energy - Dvalin Field Wintershall Dea has started production from the operated Dvalin gas field in the Norwegian Sea together with the partners Petoro and Sval Energi, providing significant new gas volumes to the European market. The field helps underpin Norway’s position as Europe’s largest gas supplier: On plateau, Dvalin is planned to produce enough energy to heat more than 2 million homes. The additional volumes come as Europe continues to search for predictable long-term supplies of natural gas. “We are aware that in the winter months European demand for gas will rise, and the continent will be looking to Norway to be the supplier of choice. We have worked hard to ensure Dvalin will be onstream safely, and are satisfied that the field will make a significant contribution to European energy security,” said Dawn Summers, Wintershall Dea Chief Operating Officer. The field has been shut-in since late 2020 after measurements of high levels of mercury in the well stream. Since then, mercury removal units have been installed at the onshore processing facilities at Nyhamna and Tjeldbergodden in mid-Norway. The Dvalin field has an estimated lifetime until 2038 including the Dvalin North field, which is currently being developed. As a subsea gas field which is controlled from the nearby Heidrun platform, Dvalin helps maintain Wintershall Dea’s gas weighted portfolio, while supporting the broader strategy of producing hydrocarbons using existing infrastructure. Located some 15 kilometres northwest of Heidrun, Dvalin has been developed using a single subsea template with four production wells. The field now joins Maria, Nova and Vega as Wintershall Dea’s fourth operated subsea field in Norway. Additionally, it is the tie in point for the Wintershall Dea operated Dvalin North subsea gas development, which was approved by the Norwegian government in 2023.

🚨🇺🇸 Texas LNG chooses Baker Hughes gas technology. Texas LNG, a four million tpy LNG export terminal to be constructed in the Port of Brownsville, Texas, and subsidiary of Glenfarne Energy Transition, LLC, has selected Baker Hughes, an energy technology company to supply gas compression technology equipment, including electric motor drives, for its LNG export terminal. The agreement with Baker Hughes facilitates Texas LNG's 'Green by Design' approach, which intends to use abundant sources of locally procured renewable energy to power the facility and drive the plant's electric motors. This green-ready infrastructure allows Texas LNG to eliminate most CO2 emissions to less than half of a typical LNG export project, making it one of the lowest-emitting liquefaction facilities in the world. "Natural gas and LNG will continue to play a critical role in the energy transition, and we are pleased to support Texas LNG with our technologies and partnership," said Lorenzo Simonelli, chairman & CEO of Baker Hughes. "Our decades of experience in the LNG space and our proven solutions will help to ensure greater LNG supply as we work together to balance the energy trilemma of security, sustainability, and affordability." https://lnkd.in/ehcnesxb #bakerhughes #TexasLNG #edrive

Diverse, plentiful and affordable supply of LNG is critically important to power generation and energy transition in Japan. Investment in major US projects - now and into the future - is one way of ensuring this supply will be available for decades to come. #lngindustry #lng #naturalgas #naturalgasindustry #energytransition

#Gas markets in context of #energy security – Gas markets have come a long way since the 1960s, with Liquified Natural Gas (#LNG) increasingly connecting regional markets, though #gas trade remains largely a regional affair. – Absent LNG, the European energy crisis would have been much worse given the lack of flexibility of pipeline gas trade. – Even with the growth of renewable energy sources, natural gas is still needed as a backup fuel to accommodate for the increase in global energy demand as this would help balance the intermittency of #renewables. – Energy security is traditionally viewed from the consumer’s point of view. However, energy security can also be viewed from the supplier’s perspective, whereby the core focus is to ensure that there will be a market for their commodity in the longer term. Irrespective, the most important approach to energy security is diversity and diversity alone. Dr Carole Nakhle, CEO of Crystol Energy, explores the dynamics of global gas markets in this interview with Télévision Algérienne: https://lnkd.in/dGG8ttG8