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Released February 07, 2024 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
CORPORATE
Tellurian Explores Sale of Upstream Business to Finance Driftwood LNG - Tellurian Incorporated (Houston, Texas) is exploring the sale of its Haynesville upstream business, the liquefied natural gas (LNG) firm said on Tuesday, as it looks to raise capital for its Driftwood LNG project. The company has been trying to develop a 27.6 million-metric-ton-per-year LNG plant, which has suffered multiple delays, in Lake Charles, Louisiana, and earlier said it sought help with balance sheet management and commercial structures. Tellurian is one of a few companies that has all of its approvals for the production and export of LNG from countries not covered by U.S. free trade deals. It has, however, not been able to attract the commercial support for the Driftwood project and is yet to give it the financial green light. Subscribers to Industrial Info's Global Market Intelligence Production Project Database can click here for related project reports. (Reuters)
POWER
EIA: U.S. Power Use to Hit Records in 2024, 2025 - U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will rise to 4,112 billion kilowatt-hours (kWh) in 2024 and 4,123 billion kWh in 2025. That compares with 3,994 billion kWh in 2023 and a record 4,070 billion kWh in 2022. (Reuters)
DIESEL
Diesel Prices Primed to Rise in 2024 - Global stocks of diesel and other middle distillates are below normal, and prices could start to rise quickly if the industrial economies of North America and Western Europe emerge from their lingering recession in 2024. Inventories of diesel, heating oil and gas oil were below the prior ten-year seasonal average across North America, Europe and Singapore in January, which has begun to exert upward pressure on fuel prices. Investors have already noticed and amassed a position equivalent to 56 million barrels in the two major futures and options contracts tied to middle distillates up from 20 million barrels in the middle of December. (John Kemp - 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).
CORPORATE
Tellurian Explores Sale of Upstream Business to Finance Driftwood LNG - Tellurian Incorporated (Houston, Texas) is exploring the sale of its Haynesville upstream business, the liquefied natural gas (LNG) firm said on Tuesday, as it looks to raise capital for its Driftwood LNG project. The company has been trying to develop a 27.6 million-metric-ton-per-year LNG plant, which has suffered multiple delays, in Lake Charles, Louisiana, and earlier said it sought help with balance sheet management and commercial structures. Tellurian is one of a few companies that has all of its approvals for the production and export of LNG from countries not covered by U.S. free trade deals. It has, however, not been able to attract the commercial support for the Driftwood project and is yet to give it the financial green light. Subscribers to Industrial Info's Global Market Intelligence Production Project Database can click here for related project reports. (Reuters)
POWER
EIA: U.S. Power Use to Hit Records in 2024, 2025 - U.S. power consumption will rise to record highs in 2024 and 2025, the U.S. Energy Information Administration (EIA) said in its Short-Term Energy Outlook on Tuesday. The EIA projected power demand will rise to 4,112 billion kilowatt-hours (kWh) in 2024 and 4,123 billion kWh in 2025. That compares with 3,994 billion kWh in 2023 and a record 4,070 billion kWh in 2022. (Reuters)
DIESEL
Diesel Prices Primed to Rise in 2024 - Global stocks of diesel and other middle distillates are below normal, and prices could start to rise quickly if the industrial economies of North America and Western Europe emerge from their lingering recession in 2024. Inventories of diesel, heating oil and gas oil were below the prior ten-year seasonal average across North America, Europe and Singapore in January, which has begun to exert upward pressure on fuel prices. Investors have already noticed and amassed a position equivalent to 56 million barrels in the two major futures and options contracts tied to middle distillates up from 20 million barrels in the middle of December. (John Kemp - 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).
