Natural Gas

Rockpoint Gas Storage priced its initial public offering at C$22 per share, raising C$704mn ($515mn) through the sale of 32 million shares, with an over-allotment option expanding the transaction to 36.8 million shares.
Tailwater Capital secures $600mn in debt and $500mn in equity to recapitalise Producers Midstream II and support infrastructure development in the southern United States.

Well-filled gas reserves could save Germany €25 billion in losses

An economic study reveals that Germany’s gas storage levels could prevent up to €25 billion in economic losses during a winter supply shock.
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New Fortress Energy has initiated the initial ignition of its 624 MW CELBA 2 power plant in Brazil, starting the commissioning phase ahead of commercial operations expected later this year.
Talen Energy launches $1.2bn debt financing and expands credit facilities to support strategic acquisitions of two combined-cycle natural gas power plants.

Ukraine plans to increase gas imports by 30% after Russian strikes

The Ukrainian government is preparing to raise natural gas imports by 30% to offset damage to its energy infrastructure and ensure supply continuity during the winter season.
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Driven by rising electricity demand and grid flexibility needs, natural gas power generation is expected to grow at an annual rate of 4.8% through 2030.
Talen Energy secures $1.2bn term financing and increases two credit facilities to support the acquisition of two natural gas power plants with a combined capacity of 2,881 MW.

Tenaz Energy acquires strategic North Sea gas assets for $339mn

Tenaz Energy finalised the purchase of stakes in the GEMS project between Dutch and German waters, aiming to boost production to 7,000 boe/d by 2026.
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Sembcorp Salalah Power & Water Company has obtained a new 10-year Power and Water Purchase Agreement from Nama Power and Water Procurement Company, ensuring operational continuity until 2037.
Eni North Africa restarts drilling operations on well C1-16/4 off the Libyan coast, suspended since 2020, aiming to complete exploration near the Bahr Es Salam gas field.

GOIL commits $50mn to expand LPG storage capacity in Ghana

GOIL is investing $50mn to expand its LPG storage capacity in response to sustained demand growth and to improve national supply security.
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QatarEnergy continues its international expansion by acquiring 27% of the offshore North Cleopatra block from Shell, amid Egypt’s strategic push to revive gas exploration in the Eastern Mediterranean.
An analysis by Wood Mackenzie shows that expanding UK oil and gas production would reduce costs and emissions while remaining within international climate targets.

Ukrainian suspected in Nord Stream sabotage faces possible extradition

Polish authorities have 40 days to decide on the extradition of a Ukrainian accused of participating in the 2022 sabotage of the Nord Stream pipelines in the Baltic Sea.
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The Japanese company has completed the first phase of a tender for five annual cargoes of liquefied natural gas over seven years starting in April 2027, amid a gradual contractual renewal process.
Baker Hughes has secured a contract from Bechtel to provide gas turbines and compressors for the second phase of Sempra Infrastructure’s LNG export project in Texas.

Targa invests $1.6bn in NGL pipeline between Permian and Mont Belvieu

Targa Resources will build a 500,000 barrels-per-day pipeline in the Permian Basin to connect its assets to Mont Belvieu, strengthening its logistics network with commissioning scheduled for the third quarter of 2027.
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Brazilian holding J&F Investimentos is in talks to acquire EDF’s Norte Fluminense thermal plant, valued up to BRL2bn ($374 million), as energy-related M&A activity surges across the country.
Chevron has appointed Bank of America to manage the sale of pipeline infrastructure in the Denver-Julesburg basin, targeting a valuation of over $2 billion, according to sources familiar with the matter.
European Union gas reserves reach 89.8 bcm, or 81.6% of capacity, just weeks ahead of the European Commission’s deadline to hit 90%.
BW Offshore reached First Gas on the BW Opal FPSO for the Barossa project operated by Santos, triggering 60% of the contractual dayrate and opening the operating phase under a long-term charter.

Brussels seeks to ban Russian liquefied natural gas from January 2027

The European Commission proposes bringing forward by one year the ban on imports of Russian liquefied natural gas, as part of a new sanctions package backed by Washington.
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The Cedar LNG project, 50.1% controlled by the Haisla Nation, marks a first in the global gas industry, supported by a record C$1,4bn ($1,03bn) loan.
Natural gas executives report delays due to turbines, steel and legal risk, even as federal approval timelines improve.

Brussels seeks to accelerate ban on Russian LNG in 19th sanctions package

The European Commission is preparing a new sanctions package including an accelerated ban on Russian liquefied natural gas, with negotiations already underway among member states.
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H2G Green Limited’s subsidiary completed the conversion of an industrial site from diesel to liquefied natural gas, marking a shift in local manufacturing energy demand.
Russian producer Novatek rerouted part of its gas condensate output to the port of Novorossiisk, following a temporary shutdown at its Ust-Luga complex after a drone attack caused a fire.

Ukraine seeks $1bn to secure gas reserves ahead of winter

Despite gas stocks covering over 80% of winter needs, Kyiv must still import more to offset the impact of Russian strikes on energy infrastructure.
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The European Commission and the United States plan to intensify their economic measures against Russia, targeting the energy sector and cryptocurrencies in a new sanctions package.
The consortium led by Adnoc ends its acquisition plans for Santos, the Australian liquefied natural gas supplier, citing commercial and contractual factors that impacted the evaluation of its offer.

South Africa: Supreme Court annuls Eskom’s permit for 3 GW gas power plant

Eskom must restart the entire administrative process for its Richards Bay gas plant after South Africa’s Supreme Court cancelled its permit, citing insufficient public consultation.
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QatarEnergy, TotalEnergies and Basra Oil Company begin construction of the final infrastructure components of Iraq’s integrated gas project, mobilising more than $13bn in investments to modernise the country’s energy supply.
Texas-based utility CPS Energy acquires four natural gas power plants from ProEnergy for $1.39bn, strengthening its footprint in the ERCOT market with operational dual-fuel infrastructure.

MCF Energy reaches 3,310 metres on the Kinsau-1A well in Germany

MCF Energy has completed drilling of the Kinsau-1A well in Bavaria at 3,310 metres, reaching its geological targets with hydrocarbon presence, reaffirming the company’s commitment to its European gas projects.
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A Ukrainian national arrested in Italy will be extradited to Germany, where he is suspected of coordinating the 2022 attack on the Nord Stream 1 and 2 gas pipelines in the Baltic Sea.
Starting the ban on Russian gas as early as 2026 would raise benchmark prices, with a spread close to $1/MMBTU in 2026–2027 and spikes above $20/MMBTU in Austria, Hungary and Slovakia, amid tight regional supply and limited LNG availability.

Egypt signs new deals to revive domestic gas production

Cairo has concluded three new exploration agreements with Apache, Dragon Oil and Perenco, for a total investment of over $121mn, as national gas output continues to decline.
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The Iris carrier, part of the Arctic LNG 2 project, docked at China’s Beihai terminal despite US and EU sanctions, signalling intensifying gas flows between Russia and China.
Blackstone Energy Transition Partners announces the acquisition of a 620-megawatt gas-fired power plant for nearly $1bn, reinforcing its energy investment strategy at the core of America’s digital infrastructure.