The first cargo of LNG from the East Coast departed Cove Point terminal on Monday. The terminal makes Dominion Energy the second American company to export LNG, after Cheniere Energy's Sabine Pass terminal on the Gulf of Mexico became the first operation to export gas back in 2016. Bloomberg reports: Cove Point’s startup is accelerating America’s emergence as an LNG powerhouse that’s expected to challenge Australia and Qatar for worldwide dominance in the next five years. Three more export terminals may open on the Gulf Coast by 2019. While Cove Point’s East Coast location could give it … [Read more...]

Among the major players in the conflict in Syria are all of the world's top three natural gas producers. The United States, Russia and Iran. Qatar, the world's fourth largest producer, and Saudi Arabia, the world's ninth largest producer have also been linked to rebel groups in the country. Oilprice.com reports that in reaction to heightened tensions and missile strikes in Syria, LNG prices have been soaring. Tim Daiss writes: Also, on Wednesday, Saudi Arabia faced what the Associated Press (AP) called a flurry of attempted attacks by Yemeni rebels. Saudi Arabia’s defense forces said … [Read more...]

OPEC is targeting $80/barrel for oil, but will it be able to get there if it's not estimating the proper amount of non-cartel production? In The Wall Street Journal, Sarah McFarlane and Stephanie Yang report: While cuts from the Organization of the Petroleum Exporting Countries have helped eliminate oversupply of crude oil, the cartel said in its monthly market report that non-OPEC producers such as the U.S. are contributing to rising global supply. ”We still think that the cartel is underestimating non-OPEC supply growth,” said Capital Economics analysts, noting that higher prices will … [Read more...]

If the leaders of Saudi Arabia have their way, oil could be priced at $80/barrel once again soon. With economic activity picking up in America, and OPEC continuing its policy of production restriction, that target is closer than it's been for some time. Bloomberg's Javier Blas reports: Saudi Arabia wants to get oil prices near $80 a barrel to pay for the government’s crowded policy agenda and support the valuation of state energy giant Aramco before an initial public offering. In conversations with OPEC delegates and oil market participants, Saudi officials had been careful to avoid … [Read more...]