Fluor Corporation announced on June 1 that its joint venture with JGC Corporation, JGC Fluor BC LNG II, received a Limited Notice To Proceed” (LNTP) for the proposed Phase 2 expansion of LNG Canada.
Shell’s Q1 2026 earnings call made clear that the ARC Resources acquisition – as discussed in ‘Closer to the Heart’ is now the centerpiece of the company’s long-term North American gas and LNG growth strategy.
Shell’s plan to acquire Western Canadian E&P ARC Resources Ltd. affirms the global energy giant’s new strategic focus, enhances the prospects for Phase 2 of LNG Canada, and supports the view that the Montney Shale may be replacing the Permian as the epicenter of oil and gas M&A.
ARC Resources reported its Q1 2026 results on April 28. Overall production of 418.5 MBoe/d was up 2% relative quarter-over-quarter (Q/Q), as natural gas volumes grew by 9% to 1.53 Bcf/d while Oil and NGLs production fell 6% to 163.0 Mb/d.
ARC Resources, one of the largest Montney producers in Western Canada, announced an agreement to be acquired by Shell. ARC has four times the Montney production that Shell has, including over 800 MMcf/d of natural gas production in British Columbia, which would go along way to providing Shell with its ~840 MMcf/d of required feedstock for Phase 2 of LNG Canada, should Phase 2 get the green light. The deal would also bolster Shell's condensate-rich Montney drilling inventory, as ARC is one of the largest condensate producers in Canada.
Nashville is known for its music, but it’s also a fast-growing gasoline and diesel market, uniquely positioned between the Gulf Coast and Midwest. With major development projects planned, such as the new Tennessee Titans stadium, it’s getting to be a tight squeeze for the area’s fuel terminals.
TC Energy announced that Coastal GasLink (CGL) and the LNG Canada have agreed to commercial terms with respect to Phase 2 of the CGL pipeline, a key milestone to advancing the project to FID. Phase 2 would double the pipeline's current capacity of approximately 2.1 Bcf/d to deliver feed gas from northeast British Columbia to the Shell-operated LNG Canada export facility on Canada's west coast at Kitimat, B.C. Phase 2 would be developed in conjunction with a doubling of the LNG Canada facility's current export capacity of 14 MMtpa. Among other things, the commercial agreement has LNG Canada leading construction of CGL Phase 2. TC Energy is the operator of the Coastal GasLink pipeline, while Shell is the operator of the LNG Canada facility.
Crude oil production in the U.S.’s portion of the Gulf of Mexico is poised to top 2 MMb/d for the first time in six years — and only the third time ever. New projects keep coming online. And a newcomer to the U.S. GOM, U.K.-based Harbour Energy, just announced a deal to acquire LLOG Exploration.
Some market observers see a massive wave of LNG supply ready to flood the market, but the fears of cargo cancellations may be exaggerated, with the “great wave” more like a gradually rising tide.
Suriname has been a very minor crude oil producer over the past few decades, with minimal output from its onshore reserves. But with more than a dozen offshore blocks already awarded for development and production set to spike in the coming years, the small South American nation looks primed to follow in the footsteps of its next-door neighbor, Guyana, which is amid an oil-production boom. In today’s RBN blog, we’ll look at the status of Suriname’s offshore developments, the major players involved, and what we know about the crude grades to be produced there.
