Tag: Sempra Infrastructure

‘We can’t be an oil supplier’: Biden’s adviser says oil reserve releases must end

Tina Marie (Ms. Cat)

One of Biden’s top energy aides confirmed Friday the administration won’t extend the oil releases from the Strategic Petroleum Reserve that are scheduled to end this fall.

‘We can’t be an oil supplier’: Biden’s adviser says oil reserve releases must end

Related:

Soaring U.S. Production Can’t Keep LNG Prices In Check

Europe has displaced Asia as the top destination for U.S. LNG, and now receives 65% of total exports.

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According to a report by the Oil & Gas Journal, 10-year LNG contracts are currently priced at ~75% above 2021’s rates, with tight supplies expected to persist as Europe aims to boost LNG imports.

Who’s telling the truth about prices?!

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.

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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