February 23, 2021

An explosion on December 10 on the Escravos–Lagos pipeline forced NNPC to suspend operations, disrupting a crucial network supplying gas to power stations in southwestern Nigeria.
At an international forum, Turkmenistan hosted several regional leaders to discuss commercial cooperation, with a strong focus on gas and alternative export corridors.

Australia opens five new offshore blocks to secure gas supply

The Australian government has launched the opening of five offshore gas exploration blocks in the Otway Basin, highlighting a clear priority for southeast supply security amid risks of shortages by 2028, despite an ambitious official climate policy.
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BlackRock sold 7.1% of Spanish company Naturgy for €1.7bn ($1.99bn) through an accelerated bookbuild managed by JPMorgan, reducing its stake to 11.42%.
The British company begins the initial production phase of Morocco's Tendrara gas field, activating a ten-year contract with Afriquia Gaz amid phased technical investments.

United States: winter cold drives up natural gas price forecasts

The Energy Information Administration revises its gas price estimates upward for late 2025 and early 2026, in response to strong consumption linked to a December cold snap.
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Venture Global denies Shell’s claims of fraud in an LNG cargo arbitration and accuses the oil major of breaching arbitration confidentiality.
The Valera LNG carrier delivered a shipment of liquefied natural gas (LNG) from Portovaya, establishing a new energy route between Russia and China outside Western regulatory reach.

Hungary hosts TurkStream headquarters after asset freeze in the Netherlands

South Stream Transport B.V., operator of the offshore section of the TurkStream pipeline, has moved its headquarters from Rotterdam to Budapest to protect itself from further legal seizures amid ongoing sanctions and disputes linked to Ukraine.
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US LNG exports are increasingly bypassing the Panama Canal in favour of Europe, seen as a more attractive market than Asia in terms of pricing, liquidity and logistical reliability.
Indian Oil Corporation has issued a tender for a spot LNG cargo to be delivered in January 2026 to Dahej, as Asian demand weakens and Western restrictions on Russian gas intensify.

McDermott secures EPCIC contract for gas project offshore Brunei

McDermott has secured a major engineering, procurement, construction, installation and commissioning contract for a strategic subsea gas development offshore Brunei, strengthening its presence in the Asia-Pacific region.
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The partnership between Fluor and JGC has handed over LNG Canada's second liquefaction unit, completing the first phase of the major gas project on Canada’s west coast.
Northern Oil and Gas and Infinity Natural Resources invest $1.2bn to acquire Utica gas and infrastructure assets in Ohio, strengthening NOG’s gas profile through vertical integration and high growth potential.

Sanctioned Russian LNG vessel delivers to China’s Beihai port

China has received its first liquefied natural gas shipment from Russia’s Portovaya facility, despite growing international sanctions targeting Russian energy exports.
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Brazil’s natural gas market liberalisation has led to the migration of 13.3 million cubic metres per day, dominated by the ceramics and steel sectors, disrupting the national competitive balance.
Sasol has launched a new gas processing facility in Mozambique to secure fuel supply for the Temane thermal power plant and support the national power grid’s expansion.

Congo LNG reaches 3 mtpa and anchors the strategic gas axis between Eni and Europe

With the addition of Nguya FLNG to Tango, Eni secures 3 mtpa of capacity in Congo, locking in non-Russian volumes for Italy and positioning Brazzaville within the ranks of visible African LNG exporters.
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Japan’s JERA has signed a liquefied natural gas supply contract with India’s Torrent Power for four cargoes annually from 2027, marking a shift in its LNG portfolio toward South Asia.
The merger of TotalEnergies and Repsol’s UK assets into NEO NEXT+ creates a 250,000 barrels of oil equivalent per day operator, repositioning the majors in response to the UK’s fiscal regime and basin decline.
TotalEnergies, TES and three Japanese companies will develop an industrial-scale e-gas facility in the United States, targeting 250 MW capacity and 75,000 tonnes of annual output by 2030.
Argentinian consortium Southern Energy will supply up to two million tonnes of LNG per year to Germany’s Sefe, marking the first South American alliance for the European importer.

UK withdraws $1.15bn funding from TotalEnergies gas project in Mozambique

The UK government has ended its financial support for TotalEnergies' liquefied natural gas project in Mozambique, citing increased risks and a lack of national interest in continuing its involvement.
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European governments want to add review and safeguard mechanisms to the trade deal with Washington to prevent a potential surge of US imports from disrupting their industrial base.
Faced with a climate- and geopolitically-constrained winter, Beijing announces expected record demand for electricity and gas, placing coal, LNG and UHV grids at the centre of a national energy stress test.

Iraq launches joint investigation after drone attack on strategic Khor Mor gas site

The Iraqi government and Kurdish authorities have launched an investigation into the drone attack targeting the Khor Mor gas field, which halted production and caused widespread electricity outages.
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PetroChina internalises three major gas storage sites through two joint ventures with PipeChina, representing 11 Gm³ of capacity, in a CNY40.02bn ($5.43bn) deal consolidating control over its domestic gas network.
The Khor Mor gas field, operated by Pearl Petroleum, was hit by an armed drone, halting production and causing power outages affecting 80% of Kurdistan’s electricity capacity.

European companies exposed to a wave of litigation over Russian LNG contracts

The European Union is facilitating the use of force majeure to exit Russian gas contracts by 2028, a risky strategy for companies still bound by strict legal clauses.
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Amid an expected LNG surplus from 2026, investors are reallocating positions toward the EU carbon market, betting on tighter supply and a bullish price trajectory.
Global South Utilities is investing $1 billion in new solar, wind and storage projects to strengthen Yemen's energy capacity and expand its regional influence.

Axiom maintains $110mn lawsuit against Tidewater over Canadian asset dispute

Axiom Oil and Gas is suing Tidewater Midstream for $110mn over a gas handling dispute tied to a property for sale in the Brazeau region, with bids due this week.
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British International Investment and FirstRand partner to finance the decarbonisation of African companies through a facility focused on supporting high-emission sectors.
Tokyo Gas has signed a 20-year agreement with US-based Venture Global to purchase one million tonnes per year of liquefied natural gas starting in 2030, reinforcing energy flows between Japan and the United States.

Hungary commits to supporting Serbia after oil shipments halted

Budapest moves to secure Serbian oil supply, threatened by Croatia’s suspension of crude flows following US sanctions on the Russian-controlled NIS refinery.
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Venture Global accuses Shell of deliberately harming its operations over three years amid a conflict over spot market liquefied natural gas sales outside long-term contracts.
TotalEnergies ends operations of its Le Havre floating LNG terminal, installed after the 2022 energy crisis, due to its complete inactivity since August 2024.

Golar LNG refinances FLNG Gimi with $1.2bn seven-year bank loan

Golar LNG has completed a $1.2bn refinancing for its floating LNG unit Gimi, securing extended financing terms and releasing net liquidity to strengthen its position in the liquefied natural gas market.
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Woodside Energy and East Timor have reached an agreement to assess the commercial viability of a 5 million-tonne liquefied natural gas project from the Greater Sunrise field, with first exports targeted between 2032 and 2035.
In California, electricity production from natural gas is falling as solar continues to rise, especially between noon and 5 p.m., according to 2025 data from local grid authorities.