Released April 14, 2025 | SUGAR LAND
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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.
PRODUCTION
U.S. Rig Count Declines - U.S. energy firms last week cut oil rigs by the most in a week since June 2023, lowering the total oil and natural gas rig count for a third consecutive week, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count fell by seven to 583 in the week ending April 11, the biggest weekly decline since June 2024. Baker Hughes said oil rigs fell by nine to 480 last week, while gas rigs rose by one to 97. (Reuters)
LNG
IEA: European LNG Imports to Rise 25% in 2025 - Europe's imports of liquefied natural gas (LNG) are set to increase by 25% this year, as the continent needs to offset lower pipeline gas supplies amid a weather-driven rise in demand, the International Energy Agency (IEA) said on Friday. "Over the whole of 2025, European LNG imports are expected to increase by 25%, or about 33 billion cubic metres (Bcm)," the IEA said in a quarterly gas market update, adding this would bring imports near to all-time highs. The surge will be driven by lower pipeline supply from Russia, higher domestic demand and storage injection needs, and greater exports toward Ukraine, it added. Over the first three months of the year, European LNG imports grew by 23%, or more than 9 Bcm, the IEA said. European Union gas storage ended the winter with only 35 Bcm of gas in storage, equivalent to a 34% fill level, which it will need to refill to 90% ahead of next winter. (Reuters)
India's GAIL Set to Buy Stake in U.S. LNG Project - GAIL (India) Limited (New Delhi, India) issued a tender on Friday to buy an up-to 26% stake in an LNG project in the United States combined with a 15-year gas import deal, aiding New Delhi's efforts to narrow its trade surplus with Washington. India is racing to become one of the first to agree a trade deal with the United States, as President Donald Trump's announcement of sweeping tariffs has triggered a trade war with China and efforts by other countries to negotiate. India's largest gas distributor GAIL has invited initial bids from companies as it seeks to buy equity in an existing LNG liquefication project or a new project that would be commissioned by 2030 at the latest, the document published on its website showed. Qatar is the biggest LNG supplier to India, while the U.S. ranks second. State-run GAIL wants 1 million metric tons per year of LNG from a plant in the U.S. on a free-on-board basis for a period of 15 years, it said, adding the deal could be extended by five to 10 years. (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. Rig Count Declines - U.S. energy firms last week cut oil rigs by the most in a week since June 2023, lowering the total oil and natural gas rig count for a third consecutive week, energy services firm Baker Hughes Company (NASDAQ:BKR) (Houston, Texas) said. The oil and gas rig count fell by seven to 583 in the week ending April 11, the biggest weekly decline since June 2024. Baker Hughes said oil rigs fell by nine to 480 last week, while gas rigs rose by one to 97. (Reuters)
LNG
IEA: European LNG Imports to Rise 25% in 2025 - Europe's imports of liquefied natural gas (LNG) are set to increase by 25% this year, as the continent needs to offset lower pipeline gas supplies amid a weather-driven rise in demand, the International Energy Agency (IEA) said on Friday. "Over the whole of 2025, European LNG imports are expected to increase by 25%, or about 33 billion cubic metres (Bcm)," the IEA said in a quarterly gas market update, adding this would bring imports near to all-time highs. The surge will be driven by lower pipeline supply from Russia, higher domestic demand and storage injection needs, and greater exports toward Ukraine, it added. Over the first three months of the year, European LNG imports grew by 23%, or more than 9 Bcm, the IEA said. European Union gas storage ended the winter with only 35 Bcm of gas in storage, equivalent to a 34% fill level, which it will need to refill to 90% ahead of next winter. (Reuters)
India's GAIL Set to Buy Stake in U.S. LNG Project - GAIL (India) Limited (New Delhi, India) issued a tender on Friday to buy an up-to 26% stake in an LNG project in the United States combined with a 15-year gas import deal, aiding New Delhi's efforts to narrow its trade surplus with Washington. India is racing to become one of the first to agree a trade deal with the United States, as President Donald Trump's announcement of sweeping tariffs has triggered a trade war with China and efforts by other countries to negotiate. India's largest gas distributor GAIL has invited initial bids from companies as it seeks to buy equity in an existing LNG liquefication project or a new project that would be commissioned by 2030 at the latest, the document published on its website showed. Qatar is the biggest LNG supplier to India, while the U.S. ranks second. State-run GAIL wants 1 million metric tons per year of LNG from a plant in the U.S. on a free-on-board basis for a period of 15 years, it said, adding the deal could be extended by five to 10 years. (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).
