Wood Mackenzie’s Post

In today’s world, where energy resources serve as a linchpin for economic development and geopolitical leverage, Russia holds a pivotal role in the LNG export domain. Over recent years, there has been a noticeable surge in the Kremlin’s export expansion, particularly in the liquefied natural gas sector. #EUToday #russia #lng #energy

Iran is aiming to increase its liquefied natural gas (LNG) production to 15 million metric tons per year by 2026, according to the country's Deputy Minister. This ambitious goal reflects Iran's efforts to become a major player in the LNG market. With its vast natural gas reserves, Iran has the potential to significantly contribute to global LNG supply. This development could have a profound impact on the energy industry, offering new opportunities for trade and investment. #LNG #Iran

Energy giant ExxonMobil has sealed a deal to supply Turkey’s BOTAŞ Petroleum Pipeline Co. with 2.5 million tons of liquefied natural gas (LNG) a year, for the next 10 years. The agreement was signed as part of the visit of Turkish Energy and Natural Resources Minister Alparslan Bayraktar to the United States, during which the North Atlantic Treaty Organization (NATO) allies also launched an energy cooperation platform. Read the full article: https://lnkd.in/g-6yfE6Z Such cross-border partnerships are critical to the success of the energy transition, as they enable greater security and diversification of supply. At Gastech 2024, where leading policymakers and energy CEOs will gather to determine the future of the natural gas and LNG sector, the critical role of collaboration in reducing emissions and ensuring stability will be a central point of discussion. Secure your delegate ticket now via https://lnkd.in/eFMSzp4E #Gastech #EnergyInvestment #GasLNG #EnergySecurity

LNG News: Arctic LNG 2 to start operations despite US sanctions 🌟📝 📝 Highlights: Russia will start production at the Arctic LNG 2 project despite US sanctions that were placed on it last November. 🔗 Read more: https://lnkd.in/eyZTDNpK 🌐 Visit: https://lnkd.in/grCFA2SN 🔍 Join the LNG Community: https://lnkd.in/gW8ZbcP2 #Comment and share your views. 🗨️ #lng #energy #biolng #GlobalMarkets #Innovation #LNGTechnology #LNGCluster #EnergyTransition #MarketInsights #IndustryAnalysis #Natgas #NaturalGas #Tech #economy

In May 2024, Botas also signed a deal with ExxonMobil for LNG supplies, signaling Turkey's efforts to diversify its energy sources. Moscow continues to be Ankara's main supplier of natural gas for now, accounting for around 40% of Turkey's consumption last year, down from over 53% before Russia's invasion of Ukraine. However, the weaponization of energy supplies amid Putin's war in Ukraine has left Turkey in a vulnerable position. With improving relations with the US, Ankara is now considering diversifying its gas supplies away from Moscow.

LNG News: Arctic LNG 2 to start operations despite US sanctions 🌟📝 📝 Highlights: Russia will start production at the Arctic LNG 2 project despite US sanctions that were placed on it last November. 🔗 Read more: https://lnkd.in/e5XvcmXC 🌐 Visit: https://lnkd.in/gvCrX7kR 🔍 Join the LNG Community: https://lnkd.in/gNsy94mG #Comment and share your views. 🗨️ #lng #energy #biolng #GlobalMarkets #Innovation #LNGTechnology #LNGCluster #EnergyTransition #MarketInsights #IndustryAnalysis #Natgas #NaturalGas #Tech #economy

#Geoeconomics Arctic LNG 2: another chinese LNG module arrives in Belokamenka (Russia). This week's delivery of the plant's 14th module allows energy company Novatek to complete construction of the second production unit for Arctic LNG 2, says The Barents Observer. Chinese companies are also engaged in the Arctic LNG 2 as project owners. International sanctions are increasingly complicating the development of the far northern energy project. In early November 2023, the U.S State Treasury included the Arctic LNG 2 in its latest round of sanctions. That will significantly trouble Novatek’s development of the third train of the Arctic LNG 2. Originally, the Arctic LNG 2 was estimated to have an investment frame of about $21,3 billion. Novatek owns 60 percent of the project, while French energy company Total owns 10 percent, China’s CNPC - 10 percent, CNOOC - 10 percent and a consortium of Japan’s Mitsui & Co and JOGMEC - 10 percent. Read more on #ExtremaRatio https://lnkd.in/dfDPMSGA

The Chinese Communist government, through their proxy companies such as Petro-China, SinoPet, CNOOC, Shanghei, Hitec, Petronus, etc, directly own about ten % of Canadas Oil and Gas. The CCP also has indirect ownership of another 10 % through partial ownership of companies like MEG energy, Cenovus, and LNG Canada. Of course, as anybody can plainly see with todays' geopolitics, Oil and Gas are the predominant materials in the world, used to render countries powerless in war, or enrichening countries' industries. Canada should not be allowing the Chinese Communist Party to gain control over any more of our O and G. The US has already banned these CCP companies. No wonder our allies don't trust us. If Pembina needs a partner, fine, just not one controlled by the enemy. Hong-Kong. Uighers. Wuhan Flu. Fentanyl. Election interference. The two Micheals, Taiwan. etc, etc, etc, etc.

Exciting news this month in the energy sector! A major step has been taken to bolster Ukraine's energy security and reduce dependency on Russian gas. Venture Global has signed the first significant deal to supply liquefied natural gas (LNG) to Ukraine. This landmark agreement will see Ukraine’s largest private power producer, DTEK, purchasing LNG from Venture Global’s Plaquemines facility on the Louisiana Gulf Coast starting later this year through 2026. This move not only strengthens Ukraine’s energy security but also supports the broader goal of diversifying Europe’s energy sources, reducing Moscow’s dominance in the region. This agreement is a testament to the power of international cooperation in building a resilient and secure energy future. #EnergySecurity #LNG #RenewableEnergy #Ukraine #USLNG https://lnkd.in/eJrMXWxj

Russia has recently received the final module required for Train 2 at the Arctic LNG 2 site, according to Offshore Technology. This significant milestone brings us one step closer to achieving our ambitious goals in the energy sector. We look forward to seeing the positive impacts this development will have on our industry and beyond. What are your thoughts on this advancement in the energy sector? #EnergyDevelopment #ArcticLNG2