Tag: gasoline

Sempra strikes LNG supply deal with Germany’s largest power producer

Tina Marie (Ms. Cat)

May 25 (Reuters) – U.S.-based Sempra Energy said on Wednesday it would sell about 2.25 million tonnes per annum (Mtpa) of liquefied natural gas (LNG) to Germany‘s largest power producer, RWE AG, which is trying to wean itself off Russian gas.

U.S. LNG companies have been exporting record volumes to the European Union following sanctions on Russia after its invasion of Ukraine, which tightened supplies to an already under-supplied market.

…

Sempra said it would supply the gas for 15 years from its Port Arthur LNG Phase 1 project being developed in Jefferson County, Texas.

Earlier this month, the company clinched a deal to supply three million tonnes of LNG each year to Poland‘s PGNiG

Sempra strikes LNG supply deal with Germany’s largest power producer

More Oil From U.S. Strategic Petroleum Reserve Heads To Europe

Tina Marie (Ms. Cat)

More Oil From U.S. Strategic Petroleum Reserve Heads To Europe

Meanwhile, U.S. crude [oil] is flowing to Europe at rates never seen before.

Two cargoes of high-sulfur crude from the U.S. strategic reserve are headed to Italy and the Netherlands, according to tanker-tracking data and sources briefed by Bloomberg. The tankers have loaded crude at terminals connected to storage caverns of the SPR in Texas and Louisiana.

According to Matt Smith, oil analyst at commodity data firm Kpler, these would not be the last crude exports out of the U.S. SPR to Europe.

In April, some 1.6 million barrels of U.S. crude from the strategic reserve made its way to Europe, Smith told Bloomberg, adding: “That’s the largest amount of SPR crude that’s been shipped to the continent based on historical monthly data.”