Europe

ExxonMobil’s natural gas, crude, power and petroleum products trading as of June 1 will become “one centralized trading organization for the whole corporation,” able to stand with any global competitor, CEO Darren Woods said Friday. The new Global Trading arm has been in the works in some form or fashion since 2018, Woods said during…

More than a year after the invasion of Ukraine, it still remains unlikely that Russia will regain its role as the European Union’s (EU) leading natural gas supplier, but an eventual increase in the country’s exports to the continent isn’t out of the question.  A top supplier to the EU, Russia exported about 140 billion…

Competition to secure LNG cargoes for next winter could intensify as the year progresses, but to what extent Europe and Asia face off depends heavily on a variety of factors, including plant outages, supply, demand, and of course, the weather.  The global liquified natural gas market has mixed forecasts on what direction top Asian LNG…

Sendout at French LNG terminals has returned to normal levels as labor strikes that started early last month have for now ended, boosting European import capacity and helping to keep the lid on natural gas prices there.  Eleven cargoes have unloaded at France’s four import terminals over the last week, according to Kpler vessel-tracking data.…

Despite a precipitous slide in global natural gas prices over the last year and easing demand, buyers in Europe and Asia are likely to face a tighter market for years to come. For much of the week, liquefied natural gas to Asia held under $13/MMBtu while the prompt Dutch Title Transfer Facility moved closer to…

Natural gas demand in the European Union (EU) has dropped significantly over the last eight months, surpassing a voluntary target to cut consumption that was adopted by the bloc last August, according to data released by Eurostat. The EU’s statistical office said natural gas consumption dropped by 17.7% between August 2022 and March, compared with…

Despite a precipitous slide in global natural gas prices over the last year and easing demand, buyers in Europe and Asia are likely to face a tighter market for years to come. For much of the week, liquefied natural gas to Asia held under $13/MMBtu while the prompt Dutch Title Transfer Facility moved closer to…

Germany’s group of storage operators is warning that natural gas supplies could be significantly drained or emptied next winter if the country doesn’t experience another mild heating season. Despite ending winter with above average storage, moderate winter temperatures between next October to May 2024 could “heavily” deplete Germany’s supplies, researchers with the German Gas Storage…

If European Union (EU) countries decide to limit Russian LNG imports, the decision could result in potentially disruptive outcomes for global natural gas markets, according to analysts. Last month, European Commissioner for Energy Kadri Simson urged EU members and companies to stop buying Russian liquified natural gas, and not to sign any new gas contracts…