For China—which has this year overtaken Japan as the world's top LNG buyer—the deals will be its single largest LNG trade agreement in terms of volumes without an equity stake, a senior Beijing-based gas industry source said.
U.S. Energy Secretary Jennifer Granholm also did not rule out a ban on crude oil exports, which was lifted in 2015 when Obama was president. “That’s a tool that we have not used, but it is a tool as well,” Granholm said in the FT report.
“A lot of the crude build seems to have gone to increased inputs into refineries,” said Bob Yawger, director of energy futures at Mizuho, following an EIA report on U.S. crude oil and gasoline inventories.
Activist investor Carl Icahn blasts the Questar Pipeline transaction, which follows the terminated deal with Berkshire Hathaway.
The rebound came as U.S. crude oil output jumped by 500,000 bbl/d to 11.1 million bbl/d, a level consistent with activity before Hurricane Ida slammed into the U.S. Gulf Coast about a month ago.
Enbridge Gas is holding a binding open season for C1 transportation services from St. Clair (DTE) and/or Bluewater to Dawn starting November 1, 2023 for a minimum of five years, the company said on Sept. 20.
Crude oil inventories in the U.S. now sit at their lowest levels since October 2018, and that tightness, along with strong demand, has helped drive oil prices higher.
Crude oil inventories at Cushing—home to a chunk of U.S. commercial tank and underground crude oil working storage capacity—are now 26% lower than normal, based on the EIA’s previous five-year average.
Energy traders said that likely means the plant was returning to service. LNG facilities liquefy natural gas into super-chilled LNG and also use the gas to fuel operations.