Europe

Winter Weather, Supply Shortage Still Upending Global Natural Gas Market — LNG Recap

Winter Weather, Supply Shortage Still Upending Global Natural Gas Market — LNG Recap

Snow and bitter cold from Europe to North Asia, which has pushed liquefied natural gas (LNG) and electricity prices to record-setting highs, hasn’t eased as the rally stretches into another week. Winter weather has combined with supply outages and shipping constraints in recent weeks to create a historic stretch for the global gas market. Temperatures…

January 11, 2021
Southern Gas Corridor Makes Historic Delivery to Europe

Southern Gas Corridor Makes Historic Delivery to Europe

Europe has received its first shipment of natural gas via a $40 billion infrastructure project that took seven years to complete, further diversifying the continent’s energy supplies.  For the first time ever, Azerbaijan’s natural gas reached Europe through a direct pipeline connection as the last segment of the Southern Gas Corridor — the Trans-Adriatic Gas…

December 31, 2020
LNG Shipbuilders See Influx of Orders as Year Comes to an End

LNG Shipbuilders See Influx of Orders as Year Comes to an End

Two of Asia’s leading shipbuilders saw an influx of orders for new liquefied natural gas (LNG) carriers this month, capping an otherwise slow year for newbuilds.  Korea Shipbuilding & Offshore Engineering Co. Ltd. (KSOE) said in a regulatory filing last week that it landed various contracts to build nine LNG carriers. KSOE is scheduled to…

December 29, 2020

North Asia Prices Continue Rising, Pulling Caroges Away From Europe — The Offtake

A roundup of news and commentary from NGI’s LNG Insight  European LNG imports were down 42% year/year over the last seven days, Tudor, Pickering, Holt & Co. said Wednesday. North Asian prices are pulling cargoes away from the continent, while warmer weather has dented demand. The forecast is growing chillier.  Vitol has reportedly sold an…

December 24, 2020
UK to End Support for Natural Gas Export, Other Foreign Fossil Fuel Projects

UK to End Support for Natural Gas Export, Other Foreign Fossil Fuel Projects

The UK would end government-funded financial support for overseas oil, natural gas and coal projects under a plan announced this month by Prime Minister Boris Johnson as the country continues to jockey for position in the global fight against climate change.  The policy would end taxpayer support for export finance, aid funding and trade promotion…

December 23, 2020

Carbon Costs, JKM Strength Push European Natural Gas Prices Higher — The Offtake

A roundup of news and commentary from NGI’s LNG Insight European carbon credits hit $37.57 this week, a high not seen since 2006, according to EBW Analytics Group. “Increases in carbon prices in the European Union are bullish for natural gas in the U.S., since the impact on coal-fired generators in Europe is twice as…

December 11, 2020
Strong U.S. Deliveries Early in 2020 Put European LNG Imports on Track to Surpass 2019

Strong U.S. Deliveries Early in 2020 Put European LNG Imports on Track to Surpass 2019

European liquefied natural gas (LNG) imports are on track to beat last year’s levels, driven in part by strong deliveries from the United States earlier in 2020, according to data intelligence firm Kpler.  The firm said this week domestic gas exports to Europe have nearly doubled this year, thanks in large part to a particularly…

December 1, 2020
LNG Rebound Still Fragile as European Storage, Winter Weather Patterns Remain Wildcards

LNG Rebound Still Fragile as European Storage, Winter Weather Patterns Remain Wildcards

Goldman Sachs Commodities Research analysts this week reiterated their belief that last summer was “the peak of the current bearish cycle in global gas markets,” saying in a forecast that they expect tighter conditions in Asia, Europe and the United states through next year. Goldman analysts said they see this year’s bearish drivers “largely reversing”…

November 19, 2020
ICE Reports Record Open Interest in Environmental Risk Tools

ICE Reports Record Open Interest in Environmental Risk Tools

With a growing commitment among energy companies to tackle climate change, open interest across Intercontinental Exchange Inc.’s (ICE) environmental complex reached a record high last week. The environmental complex, which includes futures and options connected to ICE’s European and California Carbon allowances, Regional Greenhouse Gas Initiative and renewable energy credits, hit record open interest of…

November 16, 2020
Colder Weather Data Provides Late Bump for Natural Gas Futures, but LNG Recovery Murkier

Colder Weather Data Provides Late Bump for Natural Gas Futures, but LNG Recovery Murkier

Natural gas futures started off the week lower amid further uncertainty surrounding the pace of liquefied natural gas (LNG) export recovery. A “complicated” weather outlook also left traders unsure of where to price gas, but a chillier turn in Monday’s midday models ultimately lifted the November Nymex contract up 2.2 cents to $2.795. December nudged…

October 19, 2020
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