Group 1 - Iraq's oil ministry has signed a joint operation agreement with France's TotalEnergies, QatarEnergy LNG, and Iraq's Basra Oil Company [1]

Very pleased to be joined here at the gas tech conference in Milan, Italy by Jack Fusco. He is the CEO of Shener Energy America's largest LG exporter. Jack, thanks very much for taking some time.Thank uh the secretary of energy and the secretary of interior are both here. They have talked to us and others about doubling US energy sales to Europe. Some of that's LG, some is just energy.A lot of that though would come from Shener in the form of increased LG sales. Yeah. Do you have the capacity to, you know, ...

Core Insights - The CEO of Cheniere Energy highlighted the company's capacity to increase LNG exports to Europe, with Europe currently receiving about two-thirds of its production, equating to 450 tankers annually over the past three years [2][3] - Cheniere is ahead of its $7 billion expansion project at Corpus Christi, which will add significant LNG export capacity, increasing from 45 million tons to 60 million tons, and eventually reaching 100 million tons by the end of the decade [3][5] - The company currently holds long-term contracts for about half of its production with European counterparties, indicating a strong market position and potential for revenue growth [3] Industry Context - The LNG market is expected to continue growing, with forecasts indicating a doubling of demand by 2030, driven by a 3-5% annual growth rate over the next 20 to 30 years [9] - Cheniere currently accounts for 11% of global LNG production and aims to maintain or grow this market share despite increasing competition in the sector [6] - The intersection of LNG supply and the burgeoning AI sector is noted, with natural gas being a critical component in supporting the infrastructure needed for AI advancements [8][9]

Core Viewpoint - Baker Hughes has been awarded a contract by Bechtel Energy to supply main liquefaction equipment for Train 4 of NextDecade's Rio Grande LNG Facility, enhancing the facility's LNG production capacity and supporting sustainable energy development [1][5]. Group 1: Contract Details - The award includes the supply of two Frame 7 gas turbines and six centrifugal compressors, replicating technology solutions provided for the first three LNG trains [2][5]. - The additional LNG capacity supported by this order is approximately 6 million tons per annum (MTPA) [2][5]. Group 2: Company Statements - Bechtel's general manager for LNG business highlighted Baker Hughes' reliable technology and expertise as key factors in their selection for the project [3]. - Baker Hughes expressed pride in continuing collaboration with Bechtel and NextDecade, emphasizing the importance of the Rio Grande LNG project for global energy security and sustainability [3]. Group 3: Company Background - Baker Hughes is an energy technology company with over a century of experience, operating in more than 120 countries, focusing on making energy safer, cleaner, and more efficient [4].

Core Insights - The US is experiencing a natural gas export boom, becoming the world's top exporter of liquefied natural gas (LNG) [2] - There is a looming deadline for LNG projects, as global supply is expected to exceed demand by 2027, with competition from Qatar and potential increases in Russian gas exports to China [2] Project Developments - Four US LNG projects with a combined capacity of 63 million tons per year are awaiting final investment decisions [3] - The $35 billion Golden Pass LNG project in Texas is delayed to 2025 due to labor shortages and contractor bankruptcy [3] Key Projects Under Construction - **Louisiana LNG**: A $17.5 billion project by Woodside Energy, expected to be operational by 2029 [5] - **Corpus Christi LNG Expansion**: Cheniere Energy's $2.9 billion expansion will increase capacity to 30 million tons per year by the end of the decade [6] - **CP2 LNG**: Venture Global's $15.1 billion project in Louisiana is set to start in 2027, following a permitting pause [7] Projects Awaiting Final Decisions - **Rio Grande LNG Expansion**: NextDecade Corp. is seeking funding for an expansion that would add 12 million tons of capacity per year [8] - **Port Arthur LNG Expansion**: Sempra is looking to double capacity but has not provided a timeline for the final investment decision [11] - **Commonwealth LNG**: Aiming for a final investment decision in Q3 for its project near Cameron, Louisiana [12] - **Lake Charles LNG**: Energy Transfer plans to make a final investment decision by Q4 but has not fully contracted its capacity [13]

Core Viewpoint - TotalEnergies SE (TTE) has signed a Heads of Agreement with South Korea's KOGAS for the annual delivery of 1 million tons of liquefied natural gas (LNG) over a 10-year period starting at the end of 2027 [1] Group 1: Deal Details - From 2028 onward, TotalEnergies will supply KOGAS with 3 million tons of LNG annually, sourced from its global supply portfolio, particularly from the United States [2][10] - The deal enhances TotalEnergies' position in the LNG market and ensures a consistent, long-term revenue stream [2] Group 2: Market Context - The contract emphasizes supply diversification, aligning with trends toward stable, long-term contracts amid geopolitical unpredictability [3] - According to Shell's LNG Outlook 2025 report, global demand for LNG is expected to rise by approximately 60% by 2040, driven by economic growth in Asia and emission reduction efforts [4] Group 3: Company Strategy - TotalEnergies aims to increase the share of natural gas in its sales mix to nearly 50% by 2030 while reducing carbon emissions and eliminating methane emissions associated with the gas value chain [7][10] - The company has a global LNG portfolio of 40 million tons per annum (Mtpa) in 2024 and continues to expand its LNG operations through acquisitions and partnerships [6] Group 4: Industry Outlook - The rising demand for LNG is expected to benefit companies like Cheniere Energy and BP, which are significant players in the global LNG supply [8] - Cheniere Energy has increased its run-rate LNG production forecast by over 10% and is projected to see a 32% year-over-year increase in sales for 2025 [9] - BP aims for a 25 million tons per annum target by 2025, with a projected 13.8% year-over-year increase in sales [11]

Group 1 - Turkish state energy company BOTAS signed a liquefied natural gas (LNG) purchase agreement with Cheniere for 1.2 billion cubic meters [1] - The agreement was announced by Turkish Energy Minister Alparslan Bayraktar [1]

Core Viewpoint - Italy's energy company Edison has signed an agreement with Shell to purchase liquefied natural gas (LNG) from the United States, which signifies an expansion of its long-term portfolio [1] Company Summary - Edison is actively enhancing its energy portfolio through strategic agreements, such as the recent LNG purchase from Shell [1] - The partnership with Shell indicates a focus on diversifying energy sources and securing long-term supply contracts [1] Industry Summary - The agreement reflects a growing trend in the energy sector towards securing liquefied natural gas supplies from the United States, highlighting the importance of LNG in the global energy market [1] - This move may influence market dynamics, as European companies seek to reduce dependency on traditional energy sources and increase the share of LNG in their energy mix [1]

Industry Overview - The global demand for cleaner energy is increasing, leading to a rise in the need for liquefied natural gas (LNG) as a cleaner fossil fuel to reduce greenhouse gas emissions [1] - The U.S. is positioned as a leading exporter of LNG, benefiting from the growing global demand, particularly from Europe and Asia [3][5] U.S. LNG Export Projections - The U.S. Energy Information Administration (EIA) projects that U.S. LNG export volumes will increase from 12 billion cubic feet per day (BCF/D) in 2024 to 15 BCF/D in 2025, and further to 16 BCF/D by 2026 [2][5] Company Focus: EQT Corporation - EQT has secured 1 million tonnes per year of liquefaction capacity at Commonwealth LNG's Gulf Coast export terminal, allowing it to convert natural gas into LNG for global shipment over the next 20 years [7][8] - This move indicates EQT's confidence in the sustained demand for U.S. natural gas in the global market [8] Company Focus: ConocoPhillips - ConocoPhillips has signed a 20-year sales and purchase agreement to acquire 1 million tonnes of LNG annually from the Rio Grande LNG project in Texas, which is under development by NextDecade Corporation [9][10] - The agreement is contingent on NextDecade's final investment decision for the construction of part of the plant, indicating ConocoPhillips' strategic intent to be a key player in the global LNG market [10]

Core Viewpoint - Eni is establishing a joint venture with Malaysia's Petronas to supply liquefied natural gas (LNG) to the Far East market [1] Company Summary - Eni, an Italian energy group, is focusing on expanding its LNG supply capabilities through collaboration with Petronas [1] Industry Summary - The joint venture aims to enhance the supply of LNG in the Far East, indicating a strategic move to tap into growing energy demands in that region [1]