Iranian-Backed Terrorists Put a Damper on Red Sea LNG Shipments
QatarEnergy, the world’s second-largest exporter of liquefied natural gas, has stopped sending tankers via the Red Sea, although production continues. Yemen’s Iran-backed Houthi group has, since November, attacked vessels in the Red Sea, part of a route that accounts for about 12% of the world’s shipping traffic. The terrorists are using Israel’s justified war in Gaza as the excuse to attack ships in the Red Sea. The U.S. and U.K. dropped some bombs on the Houthis in Yemen last week. The Houthis have continued to attack ships in the region, despite it raining bombs. Maybe it’s time for bigger bombs to be dropped?
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Even though separately (and together) Chesapeake Energy and Southwestern Energy own MORE assets in the Marcellus/Utica than in the Haynesville shale play, the main driver to do a merger between the two companies is the Haynesville and that play’s close proximity to LNG export facilities along the Gulf Coast. That is the conclusion of most analysts based on comments made yesterday by Chesapeake and Southwestern in announcing a $7.4 billion deal to combine the companies (see 
A press release out of Oslo, Norway, caught our attention. It was issued by Hexagon Agility, a business of Hexagon Composites. Hexagon said it had received an order from REV LNG for its TITAN Mobile Pipeline® modules — compressed natural gas (CNG) containers that get stacked on a trailer and hauled from point A to point B. REV LNG is a full-service supplier of liquid natural gas (LNG), compressed natural gas (CNG) and renewable natural gas (RNG) specializing in development, production, supply, transportation, and distribution solutions. REV is headquartered in Mendon, NY, with major operations in Ulysses, PA.
The Bidenistas are conducting a secret “review,” being led by the Department of Energy, to evaluate whether regulators should consider mythical “climate change” when deciding whether a proposed natural gas export project meets the national interest. It is a prelude to introducing new guidelines that will almost certainly block the approval of ANY new LNG export project. Yet another attack by the Bidenistas against fossil fuels in general and natural gas in particular. Surprised? We aren’t.
Yesterday, MDN told you that Constellation Energy, the owner and operator of the Everett LNG terminal, is actively trying to find new contracted customers so it can keep the import terminal open (see 
After the climate crazies at the UN’s COP28 climate talks finally (after years of trying) rammed through language about “transitioning away from all fossil fuels,” energy intelligence group Wood Mackenzie ginned up ten predictions for the energy industry in 2024 based on the false premise of transitioning away from fossil energy. WoodMac’s predictions hint at a downturn in gas, LNG, and solar projects, and a rise in blue hydrogen, nuclear, and new developments in carbon capture technologies, along with some other forecasts for the year ahead.
In early December, MDN updated you on the very real possibility that Everett LNG import terminal (Boston area), which accepts and regasifies foreign-sourced natural gas, may shut down this May following the closure of New England’s biggest natural gas-fired power plant, the Mystic Generating Station in Everett, MA (see 
EQT CEO Toby Rice appeared on CNBC’s ‘Money Movers’ program last Friday to discuss what he expects for natural gas prices this year, what lower natural gas production means for EQT, and more. It was an interesting segment (watch it below; it is just four minutes long). Rice said, among other things, that a key issue for people to understand is that the marginal cost (i.e., the breakeven cost) in the U.S. to produce natural gas is around $3.50/MMBtu, which will hold production levels flat. Prices lower than that lead to lower production.
Wow! That was fast! On Dec. 27, pipeline giant Williams issued a press release to announce a deal to buy six underground natural gas storage facilities located in Louisiana and Mississippi with a total capacity of 115 billion cubic feet (Bcf), as well as 230 miles of gas transmission pipeline and 30 pipeline interconnects, for $1.95 billion. Some of the interconnections connect to the Williams Transco pipeline system, a huge system that transports Marcellus/Utica gas to the Gulf Coast area. One of the big reasons for the deal, according to Williams, is to connect more gas supplies to LNG export markets. Yesterday, Williams issued a second press release to say the deal is already done! Williams now owns the assets.
Shell, one of the contracted customers to receive LNG from Venture Global’s Calcasieu Pass LNG export facility, added its voice to BP’s request with the Federal Energy Regulatory Commission (FERC) to release documents from Venture Global related to an ongoing delay in making the plant commercial. The Calcasieu Pass LNG export facility recently received FERC authorization to place the final three liquefaction blocks (7-9) into service (see 
U.S. liquefied natural gas (LNG) exports hit monthly and annual record highs in December, according to tanker tracking data reviewed by Reuters. Analysts say the data shows the United States leapfrogged both Qatar and Australia to become the largest exporter of LNG in 2023. The two main factors for the U.S. achieving the #1 position are (a) Freeport LNG returned to full service after being down for 10 months following an explosion and fire, and (b) Venture Global LNG’s Calcasieu Pass facility adding more capacity to a facility that it still claims is not commercially ready.
Freeport LNG’s export terminal with three liquefaction “trains” shut down in June 2022 after an explosion and fire (see 