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Released July 19, 2023 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
EARNINGS REPORTS
QatarEnergy's 2022 Earnings Soar - QatarEnergy (Doha, Qatar) on Tuesday reported a 154.6 billion-riyal (US$42.47 billion) net profit for 2022, a 58% rise in a year when demand for LNG surged following Russia's invasion of Ukraine. Qatar is the world's top LNG exporter, and competition for the fuel has ramped up since the start of the Ukraine war, with Europe in particular needing vast amounts to replace Russian pipeline gas that used to make up almost 40% of its imports. (Reuters)
LNG
Tuscan LNG Terminal to Be Moved by 2026 - An LNG vessel moored in the Tuscan port of Piombino will be moved off the coast of Vado Ligure and Savona in Italy's northwestern region of Liguria, the president of Liguria said on Tuesday. Italian gas grid operator Snam (San Donato Milanese, Italy) bought the floating storage and regasification unit last year as part of the Italian government's plan to reduce dependence on Russian gas, but the infrastructure was opposed by the local administration in Piombino. The decision on the new site where the vessel will be positioned by the end of 2026 is expected to ease such resistance. Subscribers to Industrial Info's Global Market Intelligence Terminals Plant Database can click here for the plant profile. (Reuters)
NATURAL GAS
U.S. Natural Gas Jumps Nearly 5% - U.S. natural gas futures jumped about 5% on Tuesday on forecasts for the weather to remain hotter than normal through early August, especially in Texas. Front-month gas futures for August delivery on the New York Mercantile Exchange rose 11.7 cents, or 4.7%, to settle at $2.629 per million British thermal units.
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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).
EARNINGS REPORTS
QatarEnergy's 2022 Earnings Soar - QatarEnergy (Doha, Qatar) on Tuesday reported a 154.6 billion-riyal (US$42.47 billion) net profit for 2022, a 58% rise in a year when demand for LNG surged following Russia's invasion of Ukraine. Qatar is the world's top LNG exporter, and competition for the fuel has ramped up since the start of the Ukraine war, with Europe in particular needing vast amounts to replace Russian pipeline gas that used to make up almost 40% of its imports. (Reuters)
LNG
Tuscan LNG Terminal to Be Moved by 2026 - An LNG vessel moored in the Tuscan port of Piombino will be moved off the coast of Vado Ligure and Savona in Italy's northwestern region of Liguria, the president of Liguria said on Tuesday. Italian gas grid operator Snam (San Donato Milanese, Italy) bought the floating storage and regasification unit last year as part of the Italian government's plan to reduce dependence on Russian gas, but the infrastructure was opposed by the local administration in Piombino. The decision on the new site where the vessel will be positioned by the end of 2026 is expected to ease such resistance. Subscribers to Industrial Info's Global Market Intelligence Terminals Plant Database can click here for the plant profile. (Reuters)
NATURAL GAS
U.S. Natural Gas Jumps Nearly 5% - U.S. natural gas futures jumped about 5% on Tuesday on forecasts for the weather to remain hotter than normal through early August, especially in Texas. Front-month gas futures for August delivery on the New York Mercantile Exchange rose 11.7 cents, or 4.7%, to settle at $2.629 per million British thermal units.
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).
