Natural Gas

Naftogaz urges the European Union to use Ukraine’s gas storage capacity as part of a strategic reserve system, while calling for the end of storage filling obligations after 2027.
Spanish gas infrastructure operator Enagás is in advanced talks to acquire the 32% stake held by Singapore’s sovereign wealth fund GIC in Terega, valued at around €600mn ($633mn), according to sources familiar with the matter.

BP launches five-well offshore gas drilling campaign in Egypt

BP has awarded Valaris a $140mn drilling contract for a Mediterranean offshore campaign aimed at reinforcing Egypt’s declining gas output since 2021.
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Egypt’s petroleum ministry will launch 480 exploration wells by 2030 with investments exceeding $5.7bn, aiming to revive production and reduce reliance on imports.
Faced with declining domestic consumption, Japanese liquefied natural gas (LNG) importers are ramping up commercial optimisation strategies and favouring shorter contracts to protect profitability.

Europe’s gas: summer storage sets a floor under TTF

European inventories curbed price declines as liquefied natural gas (LNG) supply expands and demand stays weak. Cargo arbitrage favours Europe, but winter will determine the equilibrium level. —
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Sonatrach and Midad Energy North Africa signed a production-sharing hydrocarbon contract in the Illizi South perimeter, involving a total investment estimated at $5.4bn for exploration and exploitation of the site.
Kuwait Petroleum Corporation annonce une découverte majeure dans la zone offshore avec le champ de Jazah, soutenant les efforts publics d’investissement dans les infrastructures énergétiques nationales.

Rockpoint raises C$704mn in IPO and cedes nearly 40% of capital to public investor

Rockpoint Gas Storage finalised its initial public offering in Canada with an upsized offer of 32 million shares for gross proceeds of C$704mn ($512mn), marking a new step in Brookfield’s partial divestment strategy.
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Africa Energy postpones submission of its environmental impact assessment for Block 11B/12B following a recent court ruling affecting offshore exploration authorisations in South Africa.
The European Union’s gas system shows reinforced resilience for winter 2025-2026, even without Russian imports, according to the latest forecast by European gas transmission network operators.

Venture Global sinks 20% after legal defeat to BP over LNG contract dispute

US LNG producer Venture Global saw its market value drop sharply after an arbitral ruling in favour of BP reignited concerns over ongoing contractual disputes tied to the Calcasieu Pass project.
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Pembina Pipeline Corporation has completed a $225mn subordinated note offering to fund the redemption of its Series 9 preferred shares, marking a new step in its capital management strategy.
A jihadist attack targeted Palma, a strategic area in northern Mozambique, marking a return of insecurity near TotalEnergies' suspended gas project since 2021.

Fermi America secures firm gas supply from Energy Transfer for HyperGrid campus launch

Fermi America has signed an agreement with Energy Transfer to secure a firm natural gas supply for powering Phase One of its HyperGrid energy campus, dedicated to artificial intelligence, near Amarillo, Texas.
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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.
QatarEnergy has signed a long-term contract with Messer to supply 100 million cubic feet of helium per year, strengthening Doha’s position as a key player in this strategic market.
US-based fund KKR has acquired a minority interest in the gas pipeline assets of Abu Dhabi oil operator ADNOC, continuing its strategy to expand energy infrastructure investments in the Middle East.

Shell starts production at Victory gas field in the North Sea

Shell UK has started production at the Victory field north of Shetland, integrating its volumes into the national gas network through existing infrastructure to strengthen UK supply.
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Exxon is seeking direct support from the Mozambican government to secure its Rovuma LNG project, as Islamist violence continues to hinder investment in the country’s north.
Chevron has signed a $690 million agreement with Equatorial Guinea to develop gas from the Aseng field, amid a long-term decline in national oil production and a search for new economic drivers.

TotalEnergies postpones Mozambique LNG gas project restart to 2029

TotalEnergies has set 2029 as the restart date for its Mozambique LNG project, frozen since 2021, delaying the exploitation of a strategic investment worth more than $20bn in liquefied natural gas.
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The establishment of a dedicated entity marks a new phase for the Nigeria-Morocco pipeline, with tenders and the final investment decision expected by the end of 2025.
The European ban on Russian liquefied natural gas from 2027 is pushing Siberian producers to reorient their flows to Asia, despite logistical and regulatory constraints.

Caturus Energy deploys the most powerful onshore rig in the United States with Nabors

Caturus Energy has signed a multi-year contract with Nabors Industries to deploy a next-generation onshore rig, aimed at supporting the expansion of its gas output in the Eagle Ford and Austin Chalk formations in Texas.
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Trinity Gas Storage partners with Intercontinental Exchange to open two new trading points at its Bethel site, strengthening East Texas’s strategic appeal in the U.S. gas market.
The Egyptian government is accelerating the deployment of its gas network and the conversion of vehicles to CNG, strengthening infrastructure despite a decline in domestic production.

Poland reaches 100% gas storage level, surpassing European regulations

Warsaw has filled its natural gas storage capacity to the legal maximum, marking the highest level in the European Union as regulatory discussions on energy security intensify in Brussels.
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Sempra divests a majority stake in Sempra Infrastructure Partners to a consortium led by KKR for $10bn, valuing the entity at $31.7bn, while launching phase 2 of the Port Arthur LNG terminal for $14bn.
A new three-year gas import agreement will be signed between Belgrade and Moscow, as Serbia’s energy ties face growing diplomatic scrutiny from the West.

Sri Lanka halts LNG imports from India due to infrastructure delays

The Sri Lankan government has frozen its plan to import liquefied natural gas from India due to a lack of operational storage, delaying the initial timeline by three years and affecting bilateral energy strategies.
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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.