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Released May 02, 2023 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
LNG
April U.S. LNG Exports Remain Strong - U.S. producers of liquefied natural gas (LNG) exported at top capacity in April for a second consecutive month, with more than two-thirds of shipments bound for Europe and rising volumes to Latin America, Refinitiv Eikon data showed on Monday. A total of 107 cargoes departed from U.S. ports last month carrying 7.78 million tonnes of LNG, slightly below the previous month's record of 7.80 million tonnes, according to the preliminary data, based on tanker movements. Customers in Europe are set to receive 72% of the U.S. LNG shipped in April, followed by Asia with 12% of the total. (Reuters)
CORPORATE
BP to Buy Shell's Stake of Browse Gas Project in Australia - BP (NYSE:BP) (London, England) has agreed to buy rival giant Shell plc's (NYSE:SHEL) (London, England) 27% stake in the Browse joint venture, expanding its holding in Australia's largest untapped natural gas resource. Shell Australia said in a statement on Saturday it had agreed to sell its stake in Browse as the "asset is no longer a strategic fit in the context of Shell's global portfolio." If the deal goes ahead, BP will increase its stake in Browse to 44%, overtaking operator Woodside Energy Group's (NYSE:WDS) (Perth, Australia) 30.3% stake. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for related project reports. (Reuters)
NATURAL GAS
U.S. Natural Gas Drops Nearly 4% - U.S. natural gas futures fell about 4% on Monday on record output and forecasts for milder weather and less heating demand next week than previously expected. Front-month gas futures for June delivery on the New York Mercantile Exchange fell 9.2 cents, or 3.8%, to settle at $2.318 per million British thermal units. (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).
LNG
April U.S. LNG Exports Remain Strong - U.S. producers of liquefied natural gas (LNG) exported at top capacity in April for a second consecutive month, with more than two-thirds of shipments bound for Europe and rising volumes to Latin America, Refinitiv Eikon data showed on Monday. A total of 107 cargoes departed from U.S. ports last month carrying 7.78 million tonnes of LNG, slightly below the previous month's record of 7.80 million tonnes, according to the preliminary data, based on tanker movements. Customers in Europe are set to receive 72% of the U.S. LNG shipped in April, followed by Asia with 12% of the total. (Reuters)
CORPORATE
BP to Buy Shell's Stake of Browse Gas Project in Australia - BP (NYSE:BP) (London, England) has agreed to buy rival giant Shell plc's (NYSE:SHEL) (London, England) 27% stake in the Browse joint venture, expanding its holding in Australia's largest untapped natural gas resource. Shell Australia said in a statement on Saturday it had agreed to sell its stake in Browse as the "asset is no longer a strategic fit in the context of Shell's global portfolio." If the deal goes ahead, BP will increase its stake in Browse to 44%, overtaking operator Woodside Energy Group's (NYSE:WDS) (Perth, Australia) 30.3% stake. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for related project reports. (Reuters)
NATURAL GAS
U.S. Natural Gas Drops Nearly 4% - U.S. natural gas futures fell about 4% on Monday on record output and forecasts for milder weather and less heating demand next week than previously expected. Front-month gas futures for June delivery on the New York Mercantile Exchange fell 9.2 cents, or 3.8%, to settle at $2.318 per million British thermal units. (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 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).
