Europe

Workers at Chevron Corp.’s LNG export terminals in Western Australia moved closer to a labor strike on Monday, lending support to global natural gas prices as the week got underway.  Workers at the Wheatstone liquefied natural gas terminal’s offshore production platform voted in favor of work stoppages if necessary, joining others at Wheatstone’s downstream processing…

Woodside Energy Group Ltd. is considering whether to take one of the five LNG trains connected to its North West Shelf (NWS) Project offline as it works to attract more third-party natural gas partners. In its half-year results, Australia’s largest energy company disclosed the NWS partnership was assessing the cost saving benefits of placing one…

Global LNG prices ratcheted up at the start of the week as the latest news on potential Australian labor action at one of the country’s largest export facilities increased the risk of European and Asian competition ahead of winter. The majority of union workers at Woodside Energy Group Ltd’s Northwest Shelf (NWS) offshore platforms, which…

Equinor ASA said Friday it has made yet another oil and natural gas discovery in the northern part of the North Sea, building on efforts to maintain strong production for Europe in the years ahead as the continent continues to wean itself off Russian supplies. The new discovery in the company’s Troll/Fram area comes in…

Negotiations on Tuesday to avert labor strikes at three Australian LNG export facilities yielded no significant progress and are expected to continue as union members consider their options.

European natural gas prices saw mixed trading as the week got underway with the market’s unease over supply risks this winter showing further out the curve. The September and October Title Transfer Facility (TTF) contracts declined slightly on Monday and were trading near $11/MMBtu and $13, respectively. Winter contracts gained across the board and traded…

Despite a slower than expected economic recovery from the Covid-19 pandemic, China gradually regained its position as the world’s largest LNG importer in July, raising the potential for a winter supply squeeze. China’s liquefied natural gas imports from the beginning of the year through July totaled 42.2 million tons (Mt), placing it around 2 Mt…

European natural gas prices fell Thursday after the dust settled from Wednesday’s rally over supply concerns tied to potential strikes at LNG terminals in Australia that are likely to keep the market more volatile until labor negotiations are resolved. The prompt Title Transfer Facility (TTF) contract closed 7% lower to finish just shy of $12/MMBtu…

European natural gas prices bounced back on Monday as competition for LNG with Asia remains strong and more Norwegian supply outages are expected this month amid another heavy round of maintenance offshore. The prompt Title Transfer Facility (TTF) contract finished 6% higher Monday to close near $10/MMBtu. TTF gained further out the curve as well,…