U.S. LNG Exports, Trans Mountain Pipeline Expansion: Your Daily Energy News

Energy Market highlights gathered by Industrial Info and IIR Energy

LNG
U.S. June LNG Exports Fall 10% - U.S. exports of liquefied natural gas (LNG) fell 10% in June to 6.82 million tonnes, from 7.58 million tonnes the previous month, as plant maintenance curbed output and European demand slid, according to preliminary data from Refinitiv Eikon. Europe took 47% of June U.S. exports, compared with 60% in May and 71% in April, the data showed. Asia took 27% of the total in June from 14% in May, while Latin America received 17% of the total last month, up from 11% in May. (Reuters)

PIPELINES
Trans Mountain Pipeline Expansion Likely to Send More Oil to U.S., Not Asia - The Trans Mountain oil pipeline expansion was meant to unlock Asian markets for Canadian oil, but analysts and traders said those barrels now will probably land on the U.S. West Coast as Asia gobbles up Russian oil that is cheaper due to sanctions from Western countries after Moscow's invasion of Ukraine. Asia's heavy crude oil refining market is roughly nine times the size of California's, but the geopolitical upheaval means Canada will struggle to reduce its reliance on its No. 1 oil customer, the U.S. Subscribers to Industrial Info's Global Market Intelligence (GMI) Pipelines Project Database can click here for related project reports. (Reuters)

CRUDE OIL
UAE Says Additional Oil Cuts Should be Enough to Balance Market - Additional oil output and export cuts made by Saudi Arabia and Russia earlier this week should be enough to help balance the oil market, United Arab Emirates' (UAE) energy minister Suhail Al Mazrouei told reporters on Wednesday. OPEC+, a group comprising the Organization of Petroleum Exporting Countries and allies including Russia, which pumps around 40% of the world's crude oil, has been cutting oil output since November in the face of flagging prices. Saudi Arabia and Russia, the world's biggest oil exporters, deepened oil supply cuts on Monday in an effort to send prices higher. (Reuters)

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).