Concerns that the world won’t have enough energy supplies to go around this winter appeared to deepen on Thursday as natural gas prices again set records and governments continued stepping in to ensure the lights stay on. Coal, natural gas and even water for hydropower are in short supply. In North Asia, Japan-Korea Marker (JKM)…
Asia
Articles from Asia
Global Natural Gas Rally Continues as Fears Grow Over Winter Energy Shortages — LNG Recap
Natural gas prices across the world climbed higher on Tuesday, fueled by the prospect that there will be energy shortages from Europe to Asia this winter. British and Dutch benchmarks closed higher Tuesday, beating an all-time record set Monday after finishing close to $30/MMBtu. In the United States, prices also continued climbing toward $6 as…
TotalEnergies Sees Oil Demand Plateauing, but Natural Gas Key to Energy Transition
Global oil demand should plateau earlier than estimated, likely before 2030, but natural gas will continue to play a key role in the energy transition, TotalEnergies said Monday. The Paris-based multi-energy major provided its third annual short-term forecast in the Energy Outlook (EO) 2021. Ahead of the upcoming United Nations (UN) Climate Change Conference, also…
Natural Gas Forward Prices Starting to Crack, but Supply Concerns Still Festering
After four solid weeks of steep increases, natural gas forward prices buckled during the trading period ending Tuesday as the start of the fall season ushered in cooler weather and a decline in demand. October prices plunged an average of 54.0 cents from Sept. 16-21, while November tumbled 55.0 cents on average, according to NGI’s…
Russia Pressured by IEA to Ease Europe’s Natural Gas Crisis
The International Energy Agency (IEA) said Tuesday market fundamentals rather than the energy transition are to blame for record natural gas prices in Europe, but it stressed that Russia could be doing more to help ease the crisis. European natural gas prices increased by nearly 16% Monday, with the front-month UK benchmark finishing close to…
Cove Point, Freeport Production Curbed as Energy Crisis Deepens in Europe — LNG Recap
Natural gas prices continued to rise in Asia and Europe on Monday as competition intensified for limited liquefied natural gas (LNG) cargoes on the spot market with two U.S. facilities down. Freeport LNG in Texas continues to experience production issues after Tropical Storm Nicholas knocked out power last week. The facility has not fully restarted…
‘Return of North American LNG FIDs’ Seen in 2022 — LNG Spotlight
The environment for North American liquefied natural gas (LNG) final investment decisions is looking brighter in 2022, with buyer interest in long-term contracts on the rise amid record-high spot prices. While the Covid-19 pandemic caused global demand to soften and resulted in project delays in 2020 and 2021, a handful of North American projects are…
European Industrial Blackouts Said Possible This Winter Amid Soaring Natural Gas Prices
Some of Europe’s industrial power consumers could face blackouts this winter if natural gas prices climb any higher, analysts with Goldman Sachs Commodities Research warned this week. European benchmarks have soared to new heights as storage inventories remain short with colder weather approaching and traders baking in a winter risk premium. Goldman analysts led by…
Tropical Storm Nicholas Shuts Down Freeport LNG, Threatens Other U.S. Export Terminals — LNG Recap
Tropical Storm Nicholas, which moved onshore Texas early Tuesday, has temporarily shut down the Freeport liquefied natural gas (LNG) terminal south of Houston, and is projected to sweep over all of the Gulf Coast’s major export facilities in the coming days. The storm’s turn toward Louisiana may threaten exports at a time when the global…
Asian LNG Buyers Line Up for Supplies from Mexico Pacific Terminal Amid Sky High Prices
Interest from Asian buyers in liquefied natural gas (LNG) exports from Mexico’s Pacific Coast has reached a full-blown frenzy amid soaring natural gas prices and demand, according to Mexico Pacific Limited LLC (MPL) CEO Doug Shanda. Shanda spoke with NGI about the firm’s LNG export terminal planned for Puerto Libertad in Sonora state. “We saw…