A roundup of news and commentary from NGI’s LNG Insight

  • Russia’s Deputy Prime Minister said Thursday about half of Gazprom PJSC’s clients have opened two bank accounts to facilitate ruble payments for natural gas deliveries. European natural gas prices fell Thursday after fears eased over noncompliance and the possibility of Russia shutting off supplies to some buyers that have payments coming due this month. 
  • Finland’s state-owned Gasum Ltd. said Russian natural gas imports may stop on Friday or Saturday (May 20-21). The country is seeking to join the North Atlantic Treaty Organization. It has also taken Gazprom to arbitration over its long-term supply contract. The company said it would fill any shortfall with volumes from the Balticconnector gas pipeline.
  • The European Union members have agreed to a proposal from the European Commission to fill natural gas storage inventories to 80% of capacity before Nov.1 and to 90% of capacity in the coming winters. Storage operators must now comply with the regulation or lose control over underground facilities. 
  • Woodside Petroleum Ltd. shareholders approved a merger with BHP Group Ltd.’s oil and gas business. The approval satisfies all conditions to complete a deal to create the largest energy company in Australia and one of the world’s largest LNG operators.