Europe

European Natural Gas Prices Surge to Four-Month High on Supply Squeeze – LNG Recap

European Natural Gas Prices Surge to Four-Month High on Supply Squeeze – LNG Recap

European natural gas prices hit their highest point in months on Tuesday, extending a series of gains as the continent continues to face the threat of supply shortages on a number of fronts. A prolonged shutdown of the Freeport liquefied natural gas (LNG) export terminal in the United States, reduced flows from Russia on the…

July 5, 2022
LNG Market Volatility Continues as European Supply Risk Grows

LNG Market Volatility Continues as European Supply Risk Grows

MADRID (ICIS) – Spot LNG prices in Asia rose on 30 June but remained at a discount to the European TTF, following the highest TTF front-month price since 9 March.

July 1, 2022
EU Countries Face Market Realities of Restocking Natural Gas After 80% Storage Rule

EU Countries Face Market Realities of Restocking Natural Gas After 80% Storage Rule

With an official natural gas storage plan by the European Union (EU) in hand, member countries are bearing down on filling reserves while the market keeps a wary eye on volumes from Russia and U.S. liquefied natural gas (LNG) producers. The European Commission (EC) solidified on Monday a plan that directs storage facilities in member…

June 28, 2022
EU Approves 80% Natural Gas Storage Plan as Markets Kick Off Another ‘Volatile’ Week

EU Approves 80% Natural Gas Storage Plan as Markets Kick Off Another ‘Volatile’ Week

After slightly cooling on an apparent price correction, European energy markets started the week with another leap upward as the European Union (EU) formalized its winter natural gas storage plan. The EU countries officially ratified a plan Monday to reach 80% of natural gas storage capacity available among the 27-country bloc by the winter heating…

June 27, 2022
Chevron, Egypt Pondering Increased Natural Gas Exports

Chevron, Egypt Pondering Increased Natural Gas Exports

As Egypt’s role as an option for sending more natural gas to Europe solidifies, the country’s petroleum ministry has announced a new tentative partnership with Chevron Corp. to explore ways to boost its liquefied natural gas (LNG) exports. In a memorandum of understanding (MOU) announced by Egypt’s Ministry of Oil and Mineral Resources, Chevron and…

June 27, 2022
Supply Constraints Create Step Change Up for European Gas, Asian LNG

Supply Constraints Create Step Change Up for European Gas, Asian LNG

Russian pipe gas flows to Europe fell again and will likely remain heavily curtailed over the coming weeks. This was a key driver behind price rises at the ICIS TTF which in turn lifted the ICIS East Asia Index (EAX) back to prices last seen in March.

June 24, 2022
Sempra Nabs 1.4 MMTY Contract with UK’s Ineos for Proposed Gulf Coast LNG Projects

Sempra Nabs 1.4 MMTY Contract with UK’s Ineos for Proposed Gulf Coast LNG Projects

A subsidiary of Sempra has potentially netted another offtaker for two of its proposed Gulf Coast liquefied natural gas (LNG) projects as a European chemical manufacturer moves to secure natural gas supply. Sempra Infrastructure, the LNG and renewable infrastructure arm of the San-Diego based company, said it had a 1.4 million metric ton/year (mmty) heads…

June 22, 2022
Europe and Asia LNG Prices Surge on Freeport Outage, Nord Stream 1’s Reduced Flows

Europe and Asia LNG Prices Surge on Freeport Outage, Nord Stream 1’s Reduced Flows

News that the outage at Freeport LNG in the US will last longer than initially expected drove up the ICIS European TTF gas benchmark due to lower expected US exports. The ICIS East Asia Index (EAX) also climbed, underscoring its close ties to Europe’s prices.

June 17, 2022

Europe’s Top Natural Gas Buyers Continue to See Cut in Russian Deliveries – The Offtake

Europe’s largest gas buyers continued to see cuts in Russian deliveries Friday. Germany’s Uniper SE had received roughly 40% of its nominations, while Eni SpA had received about 50% of its orders. Slovakia also reported that its flows had been cut in half. Austria and the Czech Republic have seen flows reduced, while volumes from Russia arriving in France via Germany have been cut entirely. France receives less than 20% of its gas via Germany. 

June 17, 2022
Israel, Egypt Eye Sending More LNG Supplies to Europe

Israel, Egypt Eye Sending More LNG Supplies to Europe

The European Union (EU) has created a framework for potentially sending more natural gas to the continent following a tentative agreement between Israel and Egypt. The EU and the two potential partners clinched a memorandum of understanding (MOU) outlining collaboration efforts. The MOU highlights plans to send Israeli natural gas to Europe using liquified natural…

June 17, 2022
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