Damage to Nord Stream Natural Gas Systems Possibly ‘Gross Sabotage,’ Says Swedish Security

Damage to the Nord Stream (NS) pipeline systems that connected Russian natural gas supply to Western Europe was caused by detonations and more than likely sabotage, authorities with the Swedish Security Service said Thursday. Sweden’s counter-espionage and counter-terrorism officials disclosed some of the first official conclusions into the incident since gas leaks in the Baltic…

Germany’s EnBW to Buy More Venture Global LNG in Ongoing Shift from Russia

Venture Global LNG Inc. said Thursday German utility EnBW AG would expand the amount of LNG it would take under a 20-year sales and purchase agreement (SPA) signed in June. EnBW has increased volumes under the deal by 0.5 million metric tons/year (mmty) to 2 mmty. The utility said in June it would split offtake…

October 6, 2022

Injecting Liquidity into Energy Markets ‘Biggest Challenge’ Facing European Governments

European energy markets are in need of more liquidity to deal with the increasing risk of trading volatile commodities and continue operating properly, according to a panel of experts that discussed the continent’s energy crisis last week. More coordinated action among regulators in disparate European Union member states is necessary, said Cornelia Kawann, head of…

October 6, 2022

Shell Says LNG Trading in 3Q Sharply Down in ‘Volatile and Dislocated Market’

Market turmoil amid geopolitical standoffs and global inflation is forecast to result in “significantly lower” LNG trading results for the third quarter, Shell plc said Thursday. In a snapshot of quarterly results, the supermajor outlined preliminary numbers, including for its Integrated Gas division, which includes liquefied natural gas trading. Price volatility and higher delivery costs…

October 6, 2022

‘Comeback Story’ for U.S. Natural Gas, but Winter Price Pressures Said to Clash with Increased Production

The United States could see increased upward pressure on natural gas prices compared with last winter, as cold weather and surging demand threaten to offset production gains, according to the National Gas Supply Association’s (NGSA) Winter Outlook. In the forecast presented Wednesday, NGSA Chairman David Attwood, who is an ExxonMobil vice president, touted the “comeback…

October 5, 2022