Rystad Energy News

Qatar's planned expansion of liquefied natural gas (LNG) production could see it control nearly 25% share of the global market by 2030 and squeeze out rival projects including in the United States where President Biden paused new export approvals, market experts say.Qatar, one of the world's top LNG exporters, plans an 85% expansion in LNG output from its North Field's current 77 million metric tons per year (mtpa) to 142 mtpa by 2030, from previously expected 126 mtpa.Some market experts said that the move will have an impact on global projects in the United States…

2023 was the first year of real recovery for owners in the offshore supply market and yet we have barely skimmed the surface of what’s to come.The market is still on an upward trajectory with charter rates accelerating month-by-month, availability changing day-by-day, leading to earnings doubling and, in some segments, tripling since the lows of 2020. Current rates will remind many of the glory days of pre-2014 with the demand for OSVs projected to remain elevated for years to come.In general…

U.S. liquefied natural gas exports hit monthly and annual record highs in December, tanker tracking data showed, with analysts saying it positioned the United States to leapfrog Qatar and Australia to become the largest exporter of LNG in 2023.The U.S. was the stand out in global LNG supply growth in 2023, said Alex Munton, director of global gas and LNG research at consulting firm Rapidan Energy Group of the rise to 8.6 million metric tons leaving U.S. terminals in December.Qatar was the largest LNG exporter in 2022 and Australia the second-largest that year, U.S. government data showed."U.S.

International energy companies, from Germany's RWE to Spain's Iberdrola, are urging Japan to beef up offshore wind power auctions and make investments more attractive, amid soaring installation costs as competition for suppliers grows worldwide.Although desperate to ease its heavy dependence on energy imports from the Middle East and Russia, Japan is coming late to offshore wind, but some industry players say it is taking a more cautious approach that puts it at a disadvantage."It's a global race and we can't look at it in isolation…

The prospect of the EU receiving more liquefied natural gas (LNG) from Egypt in the short and medium term looks unachievable due to tight gas balances and reduced imports from Israel, Oxford Institute of Energy Studies (OIES) said.Egypt shipped 80% of its liquefied natural gas (LNG) exports to Europe last year as the continent sought to replace Russian pipeline gas after Moscow's invasion of Ukraine. The European Union in June last year signed a framework deal between the bloc…

U.S. liquefied natural gas (LNG) producers ramped up exports in October, to 7.92 million metric tons, according to data provider LSEG, the second-highest monthly level on record.Exports were just shy of the record 8.01 million metric tons in April this year, and were up from 7.12 million metric tons in September, when plant maintenance reduced U.S. production.The U.S. was the world's largest exporter of LNG in the first half of this year, according to the Energy Information Agency, ahead of Qatar and Australia.

A very active Atlantic hurricane season so far this year has not sent storms across U.S. oil and natural gas fields in the northern Gulf of Mexico, sparing energy companies billions of dollars of losses and consumers higher fuel costs.The 2023 Atlantic hurricane season has been another in a string with above average activity producing three major hurricanes with winds above 111 mph (179 kph) out of six hurricanes among 20 named tropical storms.So far this year, only one storm, Tropical Storm Harold, on Aug.

A tanker seeking to fill up liquefied natural gas (LNG) at a terminal in Egypt left empty and diverted to another port, after an Israeli pipeline supplying gas was halted due to Israel-Hamas conflict, analysts said on Thursday.The Seapeak Catalunya tanker has changed course from Egypt's Idku LNG plant and is now heading to Algeria's Arzew LNG facility instead, LSEG analyst Olumide Ajayi said, citing shipping data.Chevron has shut down the Israeli Tamar gas field amid the military conflict in the country and suspended exports through the subsea EMG pipeline, which runs from Ashkelon in southern Israel to Egypt.Egypt relies on Israeli gas imports to meet some of its domestic demand and therefore…

The transportation of CO2 is taking to the seas as emitters look for flexible ways to move captured carbon to offshore storage projects, with a fleet of 55 carriers required by 2030, according to Rystad Energy research.Based on planned carbon capture projects, Rystad predicts that more than 90 million tonnes per annum (tpa) of CO2 will be shipped by the end of the decade, volumes requiring 48 terminals to handle the import and export of the gas.As the global carbon capture, utilization and storage (CCUS) market expands…

Floating LNG solutions provider Höegh LNG and the Norwegian oil and gas firm Aker BP have entered a strategic partnership to develop a "fully comprehensive carbon transport and storage offering for industrial CO2 emitters in Northern Europe.""The agreement combines the companies’ respective strengths, expertise, and technologies to establish a strong value chain for CCS on the Norwegian Continental Shelf that includes gathering, transporting and securely injecting CO2 for permanent storage in subsea reservoirs…

Scientists warn that climate change is the greatest peril that humankind has ever faced. Yet oil and gas exploration is set to clock the highest growth for more than a decade this year and next. Protesters cause disruption but, for the moment, hydrocarbon energy underpins life as we know it“Offshore oil and gas production probably matters now more than ever,” said Audun Martinsen. The Rystad Energy Partner and Head of Energy Research told Maritime Reporter & Engineering News.“It…

As the world continues to scramble for renewable energy, floating offshore wind has emerged as a key capacity enabler in the coming decades. With no major commercial scale projects currently in operations, the segment is largely based on governments and developers ambitious project plans for the future. Nonetheless, this market segment can offer vast opportunities to the world of offshore support vessels in both near- and long-term prospects.In this piece, we will discuss the key opportunities and challenges related to offshore floating wind…

U.S. producers of liquefied natural gas (LNG) exported at top capacity in April for a second consecutive month, with over two-thirds of shipments bound for Europe and rising volumes to Latin America, Refinitiv Eikon data showed on Monday.Following the full restart of a key Texas export facility in February, U.S. LNG producers are taking advantage of firm prices overseas and increasing demand in some markets.A total of 107 cargoes departed from U.S. ports last month carrying 7.78 million tonnes of LNG…

U.S. exports of liquefied natural gas (LNG) were flat last month at 6.84 million tonnes, shipping data showed on Thursday, even as a long-idled Texas processing facility began shipping the fuel during an ongoing restart.Freeport LNG's Texas plant, the second-largest LNG export facility in the United States, began resuming some processing and export operations in February following an eight-month outage caused by a fire.Refinitiv Eikon data showed on Thursday that the plant is on track to pull in about 1.2 billion cubic feet per day (bcfd) of natural gas from pipelines…

Germany is set to receive new flows of Qatari liquefied natural gas (LNG) from 2026 after QatarEnergy and ConocoPhillips COP.N on Tuesday signed two sales and purchase agreements for its export covering at least a 15-year period. Since Russia's invasion of Ukraine in February, competition for LNG has become intense, with Europe in particular needing vast amounts to help replace Russian pipeline gas that used to make up almost 40% of the continent's imports.The deal, the first of its kind to Europe from Qatar's North Field expansion project…

U.S. exports of liquefied natural gas (LNG) in October remained capped by plant outages, with producers shifting more cargoes to Asian buyers last month, according to Refinitiv Eikon tanker monitoring data, after of a pipeline leak cut supplies from Malaysia. LNG prices recently have cooled with Europe's gas storage levels rising to over 90% of target capacity and a slow start to winter. In Asia, however, a declaration of force majeure on gas supplies by Malaysian state-energy company Petronas PETR.KL  has LNG customers in Japan scrambling for alternative cargoes.

Several ships carrying liquefied natural gas (LNG) anchored off Spain's Bay of Cadiz are likely to stay there until late November in anticipation of a rise in European gas prices, industry sources said.Dozens of ships have been circling off the Iberian coast and in the Mediterranean sea for weeks, unable to secure slots to unload their LNG cargoes as plants that convert the superchilled fuel back to gas are operating at maximum capacity.The high volume of LNG in floating storage exposes Europe's lack of "regasification" capacity just as the continent stocks up for a winter of substantially less Russian pipeline gas.But industry sources say some of the waiting ships are part of a trading strategy from their respective companies…

Danish offshore wind installation company Cadeler said Wednesday it had secured a contract with an undisclosed client for its recently ordered hybrid F-class vessel that will keep the vessel busy from 2027 to 2030. "If all options are called during the four-year agreement, the potential agreement value will exceed 330 million Euro," Cadeler said. In addition, this agreement provides Cadeler the possibility of bidding on the transport and installation (T&I) scope."Today, Cadeler…

U.S. producers of liquefied natural gas (LNG) boosted exports to Europe in September even as a plant outage kept overall shipments below the average for the first eight months of 2022, Refinitiv Eikon data showed on Monday.A June fire at the United States' second-largest exporter Freeport LNG has the country's output below its full processing capacity even as demand and prices for the superchilled gas soar on European buyers seeking alternatives to Russian gas.A total of 87 cargoes departed from U.S.

With the launch of a completely new pump design for liquefied natural gas (LNG), Svanehøj claims to be the first supplier on the marine market to offer both deepwell pumps and submerged pumps for electric fuel systems.The demand for LNG is increasing, and LNG-powered ships are being ordered like never before. Svanehøj is now building on the growth of recent years within liquefied gas solutions with an investment in a new electric submerged pump design for LNG-powered ships. The…

Global oil companies are pumping billions of dollars into offshore drilling, reversing a long decline in spending on the decades-long projects, including some in the remote iceberg waters far off Canada's Atlantic coast.Surging oil prices are encouraging the investments, along with Europe's mounting energy demand as the Ukraine-Russia war drags on. Offshore production sites are more expensive to build than onshore shale, the last decade's investment darling. But once they are up and running…

Vestdavit said Monday it had secured a contract to deliver its docking-head davit technology on a construction service operation vessel (CSOV) being built for Rem Offshore by Norwegian shipbuilding group VARD.The order for a PAP-15000 davit with painter boom has been secured with contractor Mare Safety for the first of two firm newbuild CSOVs that is due to be delivered in the first half of 2023 from Vard Søviknes.The PAP-15000 has an anti-pendulation system with a fully integrated docking head that is compensated for movement in three dimensions…

U.S. crude shippers are exporting huge amounts of oil to meet strong demand from Europe following Russia's invasion of Ukraine and subsequent sanctions against Moscow. In coming years U.S. oil may find even more buyers overseas, but that could test the capabilities of U.S. export infrastructure.How much crude does the United States typically export?U.S. crude exports averaged 3.7 million barrels per day (bpd) over the four weeks through late May, their highest since March 2020, according to the U.S. Energy Information Administration.