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Released May 06, 2022 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
LNG
Sempra Sees Decision on Louisiana LNG Train in 2023 - Sempra Energy (NYSE:SRE) (San Diego, California) said on Thursday that the venture that owns the Cameron liquefied natural gas (LNG) plant in Louisiana remains on track to make a final investment decision in 2023 to build a new liquefaction train at the plant. Sempra said in its first-quarter earnings release that Cameron LNG plans to complete development work on the fourth liquefaction train in the summer of 2023 and expects the company "to be in a position to make a final investment decision thereafter." Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the detailed project report. (Reuters)
EARNINGS REPORTS
Shell Posts Record Quarterly Profit - Shell plc (NYSE:SHEL) (London, England) on Thursday reported a record first-quarter profit of $9.13 billion, boosted by higher oil and gas prices, strong refining profits and the strong performance of its trading division. The company beat its previous highest quarterly profits recorded in 2008 even after writing down $3.9 billion post-tax as a result of its decision to exit operations in Russia. (Reuters)
NATURAL GAS
U.S. Natural Gas Jumps to 13-Year High on Hot Spring Weather, LNG Demand - U.S. natural gas futures jumped about 4% on Thursday to a fresh 13-year high as hot spring weather boosted air conditioning demand, while much higher global prices kept demand for U.S. LNG exports strong. U.S. stockpiles are about 16% below normal for this time of year despite last week's near-normal injection. U.S. front-month gas futures for June delivery rose 36.8 cents, or 4.4%, to settle at $8.783 per million British thermal units, their highest close since August 2008 for a third day in a row. (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 world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
LNG
Sempra Sees Decision on Louisiana LNG Train in 2023 - Sempra Energy (NYSE:SRE) (San Diego, California) said on Thursday that the venture that owns the Cameron liquefied natural gas (LNG) plant in Louisiana remains on track to make a final investment decision in 2023 to build a new liquefaction train at the plant. Sempra said in its first-quarter earnings release that Cameron LNG plans to complete development work on the fourth liquefaction train in the summer of 2023 and expects the company "to be in a position to make a final investment decision thereafter." Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the detailed project report. (Reuters)
EARNINGS REPORTS
Shell Posts Record Quarterly Profit - Shell plc (NYSE:SHEL) (London, England) on Thursday reported a record first-quarter profit of $9.13 billion, boosted by higher oil and gas prices, strong refining profits and the strong performance of its trading division. The company beat its previous highest quarterly profits recorded in 2008 even after writing down $3.9 billion post-tax as a result of its decision to exit operations in Russia. (Reuters)
NATURAL GAS
U.S. Natural Gas Jumps to 13-Year High on Hot Spring Weather, LNG Demand - U.S. natural gas futures jumped about 4% on Thursday to a fresh 13-year high as hot spring weather boosted air conditioning demand, while much higher global prices kept demand for U.S. LNG exports strong. U.S. stockpiles are about 16% below normal for this time of year despite last week's near-normal injection. U.S. front-month gas futures for June delivery rose 36.8 cents, or 4.4%, to settle at $8.783 per million British thermal units, their highest close since August 2008 for a third day in a row. (Reuters)
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 world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.
