Europe

Norwegian regulators have approved revised production permits allowing Equinor ASA and its partners to continue pumping natural gas near maximum levels for export to Europe, as the continent looks to cut its dependence on Russian supplies.  Fields on the Norwegian Continental Shelf have been operating near maximum capacity amid strong demand and a war between…

Natural gas prices fell across the globe as the week got underway, tempered by another round of talks between Russia and Ukraine, along with milder weather in key markets.  In Europe, the Title Transfer Facility (TTF) continued to fall Monday, coming off a record high early last week of $72.765/MMBtu. Negotiations to end the conflict…

Europe’s plan to cut its dependence on Russian natural gas and find new sources to displace its largest supplier is seen facing significant obstacles.  The European Commission (EC) announced a plan this week to reduce demand for Russian natural gas by two-thirds by the end of this year and gain independence by 2030. The proposal…

The European Commission on Tuesday unveiled a proposal to break free of Russian energy imports before 2030, including plans to reduce demand for Russian natural gas by two-thirds by the end of this year.  Russia is the European Union’s (EU) biggest coal, natural gas and oil supplier, fulfilling roughly 60% of the region’s gross energy…

Chaos reigned in the global commodity markets Monday as Russia’s attack on Ukraine intensified, sending European natural gas futures to record highs and Brent crude to levels not seen in 14 years.  Russian President Vladimir Putin said Saturday that the West’s sanctions – which for now have exempted energy exports – were “akin to a…

Oil and natural gas prices climbed higher Monday in another volatile stretch of trading as the market weighed the possibility of significant supply disruptions tied to the latest round of sanctions against Russia amid continued fighting in Ukraine.  An initial round of talks to discuss a ceasefire Monday also yielded no results as Russia finds…

Russia’s decision to order military forces into eastern Ukraine, as well as the West’s swift condemnation of the move, on Tuesday weighed on financial markets, added to inflationary pressures and pushed oil and natural gas prices higher, deepening an energy crisis that has gripped Europe since last year. Natural gas prices in Asia, Europe and…

Rebounding industrial activity – and energy needed to fuel it – along with continued strong demand for U.S. exports could drive natural gas consumption through 2022, according to analysts who presented during a webinar (replay available) hosted Tuesday by Natural Gas Intelligence (NGI) and Independent Commodity Intelligence Services (ICIS). An accelerating U.S. economy and manufacturing…

Europe’s recent energy shortages have laid bare the continent’s need for stable natural gas supplies as it decarbonizes its economy, according to the management team of Norway’s Equinor ASA. CEO Anders Opedal helmed a conference call earlier this month with analysts to discuss the majority state-owned energy major’s fourth quarter and full-year 2021 earnings. “The…