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Released June 26, 2023 | SUGAR LAND
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Energy Market highlights gathered by Industrial Info and IIR Energy
PRODUCTION
U.S. Drillers Cut Rigs for Eighth Week - U.S. energy firms last week cut the number of oil and natural gas rigs operating for an eighth week in a row for the first time since July 2020, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count, an early indicator of future output, fell by five to 682 in the week ending June 23, the lowest since April 2022. U.S. oil rigs fell six to 546 last week, their lowest since April 2022, while gas rigs held steady at 130. (Reuters)
LNG
Venture Global LNG Signs 20-Year Contract with German Firm - U.S liquefied natural gas (LNG) developer Venture Global LNG (Arlington, Virginia) on Thursday said it had signed a 20-year deal to provide Germany's Securing Energy for Europe GmbH with 2.25 million tonnes per annum (MTPA) of LNG. With this deal, Venture Global would become Germany's largest LNG supplier, with a combined 4.25 MTPA of LNG, the company said. (Reuters)
Energy Transfer to Proceed with Lake Charles LNG Project Despite DOE Rehearing Denial - Energy Transfer LP (NYSE:ET) (Dallas, Texas) on Friday said it will continue construction of its Lake Charles LNG project despite a rehearing denial by the U.S. Department Of Energy (DOE). The DOE on Wednesday rejected Energy Transfer's request for a second extension of its multibillion-dollar LNG export project in Louisiana. It would consider another application if Energy Transfer is unable to meet its 2025 deadline, the DOE said. Subscribers to Industrial Info's Production Project Database can click here for details of the project. (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).
PRODUCTION
U.S. Drillers Cut Rigs for Eighth Week - U.S. energy firms last week cut the number of oil and natural gas rigs operating for an eighth week in a row for the first time since July 2020, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count, an early indicator of future output, fell by five to 682 in the week ending June 23, the lowest since April 2022. U.S. oil rigs fell six to 546 last week, their lowest since April 2022, while gas rigs held steady at 130. (Reuters)
LNG
Venture Global LNG Signs 20-Year Contract with German Firm - U.S liquefied natural gas (LNG) developer Venture Global LNG (Arlington, Virginia) on Thursday said it had signed a 20-year deal to provide Germany's Securing Energy for Europe GmbH with 2.25 million tonnes per annum (MTPA) of LNG. With this deal, Venture Global would become Germany's largest LNG supplier, with a combined 4.25 MTPA of LNG, the company said. (Reuters)
Energy Transfer to Proceed with Lake Charles LNG Project Despite DOE Rehearing Denial - Energy Transfer LP (NYSE:ET) (Dallas, Texas) on Friday said it will continue construction of its Lake Charles LNG project despite a rehearing denial by the U.S. Department Of Energy (DOE). The DOE on Wednesday rejected Energy Transfer's request for a second extension of its multibillion-dollar LNG export project in Louisiana. It would consider another application if Energy Transfer is unable to meet its 2025 deadline, the DOE said. Subscribers to Industrial Info's Production Project Database can click here for details of the project. (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).
