Europe

A roundup of news and commentary from NGI’s LNG Insight  U.S. manufacturer CF Industries Holdings Inc. and Norwegian chemical producer Yara International ASA announced closures of their facilities because of extraordinarily high European natural gas prices, which neared $30/MMBtu this week. Yara said 40% of its European ammonia production capacity would be shut down next…

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…

Natural gas futures on Wednesday rallied for a third consecutive session, again touching a new high for the year as traders fixated on potentially sparse supplies in the United States and Europe ahead of the peak winter demand season.  At A Glance: Futures rally a third straight day Storage worries weigh on markets Cash prices…

A roundup of news and commentary from NGI’s LNG Insight  Freeport LNG remained offline late Wednesday, a spokesperson said. Electricity at the terminal isn’t expected to be restored until CenterPoint Energy Inc. completes repairs on its system. Tropical Depression Nicholas made landfall in Texas on Tuesday as a Category 1 hurricane and knocked out power…

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…

Gazprom PJSC has completed the Nord Stream 2 pipeline and said last week that it would work toward starting commercial operations on the system by the end of the year to move more supplies to natural gas-starved Europe.  The company tied together the final section of the system’s second leg between the German shore and…

Fitch Ratings Inc. has substantially raised its Henry Hub and European natural gas price assumptions through 2022, citing “strong year-to-date prices, recovering demand and supply challenges.” “U.S. gas prices have…benefited from heightened weather-driven demand, as well as U.S. dry and associated gas production discipline,” the credit ratings analysts said, adding that liquefied natural gas (LNG)…

A roundup of news and commentary from NGI’s LNG Insight A German court dealt a blow to the Nord Stream 2 (NS2) pipeline project Wednesday. The court found that the project must comply with a European Union rule requiring ownership of transmission and natural gas to be separate. The ruling impacts project owner Gazprom PJSC’s…

European natural gas prices fell again on Monday and weighed down those in Asia as pipeline imports increased and the market gained more clarity on when exactly Russia’s Nord Stream 2 (NS2) pipeline might start operations.  Norwegian supplies climbed upward Monday as more capacity returned from the Troll Field, where maintenance has limited volumes. Construction…