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Released August 23, 2023 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
LNG
Cheniere Strikes LNG Supply Deal with BASF - Cheniere Energy (Houston, Texas) said on Tuesday it would supply 0.8 million tonnes per annum (MTPA) of liquefied natural gas (LNG) to Germany's BASF (Ludwigshaven). Deliveries will start in mid-2026 and increase to about 0.8 MPTA once Train 7 of the Sabine Pass project comes online. The LNG supply deal will extend through 2043. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the related project report. (Reuters)
CRUDE OIL
India's July Oil Imports Decline 5% from June - India imported 4.4 million barrels per day (BBL/d) of oil in July, a decline of 5.2% from June, as refiners cut purchases ahead of maintenance at some plants, shipping data from trade and industry sources showed. Last month, India's Russian oil imports declined by about 5.7% from June to 1.85 million BBL/d, the data showed. This was first decline in India's Russian oil imports in the last nine months. (Reuters)
NATURAL GAS
U.S. Natural Gas Falls on Lower Texas Demand - U.S. natural gas futures fell nearly 3% on Tuesday as the amount of gas flowing to LNG export plants remained low due to maintenance outages and as a tropical storm reduced power demand in Texas. Power demand in Texas was on track to drop to 80,482 megawatts (MW) on Tuesday from 84,580 MW on Monday, according to the Electric Reliability Council of Texas, which operates the electric grid for much of the state. Front-month gas futures for September delivery on the New York Mercantile Exchange fell 7.2 cents, or 2.7%, to settle at $2.560 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
Cheniere Strikes LNG Supply Deal with BASF - Cheniere Energy (Houston, Texas) said on Tuesday it would supply 0.8 million tonnes per annum (MTPA) of liquefied natural gas (LNG) to Germany's BASF (Ludwigshaven). Deliveries will start in mid-2026 and increase to about 0.8 MPTA once Train 7 of the Sabine Pass project comes online. The LNG supply deal will extend through 2043. Subscribers to Industrial Info's Global Market Intelligence (GMI) Production Project Database can click here for the related project report. (Reuters)
CRUDE OIL
India's July Oil Imports Decline 5% from June - India imported 4.4 million barrels per day (BBL/d) of oil in July, a decline of 5.2% from June, as refiners cut purchases ahead of maintenance at some plants, shipping data from trade and industry sources showed. Last month, India's Russian oil imports declined by about 5.7% from June to 1.85 million BBL/d, the data showed. This was first decline in India's Russian oil imports in the last nine months. (Reuters)
NATURAL GAS
U.S. Natural Gas Falls on Lower Texas Demand - U.S. natural gas futures fell nearly 3% on Tuesday as the amount of gas flowing to LNG export plants remained low due to maintenance outages and as a tropical storm reduced power demand in Texas. Power demand in Texas was on track to drop to 80,482 megawatts (MW) on Tuesday from 84,580 MW on Monday, according to the Electric Reliability Council of Texas, which operates the electric grid for much of the state. Front-month gas futures for September delivery on the New York Mercantile Exchange fell 7.2 cents, or 2.7%, to settle at $2.560 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).
