TotalEnergies SE is on the hunt for more opportunities for affordable LNG like its recent grabs in the United States as Europe’s energy volatility and rising costs are likely to persist. Despite Europe’s falling oil and natural gas prices during the second quarter, CEO Patrick Pouyanné said “tensions” in the global gas market will mean…
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Articles from Europe
TTF Spikes Despite High Storage as Market Weighs Tightening LNG Supply – LNG Recap
European natural gas prices ticked up again on Monday despite healthy storage on the continent and an apparent lull in Asia, hinting at anxiety over falling LNG imports. Upward movement in European prices was previously expected to be limited for the rest of July after several key gas facilities in Norway wrapped up heavy maintenance…
Russia Still Counting on Asian Demand as Natural Gas Output, Exports Continue Falling
Moscow has revised its gas strategy repeatedly since western sanctions were placed on Russia last year after it invaded Ukraine, and it is counting on Asia as an export destination to replace the loss of Europe’s 150 billion cubic meter (Bcm) market. The Russian government revised pipeline export targets last month to increase deliveries to…
With Key Vaca Muerta Natural Gas Pipeline Online, Argentina Eyes LNG Exports
Argentina’s natural gas pipeline offering additional takeaway capacity from the Vaca Muerta shale formation went into service earlier this month. The Gasoducto Presidente Néstor Kirchner pipeline was built in 10 months, “record time,” the Energy Secretariat said. Capacity on the pipeline is 25 Mm3/d. The line stretches from the town of Tratayén in Neuquén province…
Panama Canal Congestion Boosting Costs to Move U.S. LNG to Asia
More U.S. LNG cargoes are taking longer and costlier routes to reach consumers in Asia as a drought impacting levels at the Panama Canal has increased wait times to transit the waterway. “The Panama Canal remains a primary route for U.S. LNG to access Asian markets, though an increased volume of trade is utilizing other…
Europe Reluctant to Tap Ukrainian Storage Capacity Despite Rapidly Filling Inventories
European Union (EU) natural gas storage levels could reach 90% capacity by the end of August, or two months ahead of the Nov. 1 target set by regulators, leaving Europe with too much gas and a shortage of space underground to store any more. As a result, an offer from Ukraine earlier this year to…
Delfin Says First FLNG Unit Sold Out After 1 MMty SPA with UK’s Centrica
Delfin Midstream Inc. has finalized a sales and purchase agreement (SPA) with Centrica plc as it aims to make a final investment decision (FID) on the first phase of its Louisiana floating LNG export project later this year. UK-based energy firm Centrica has agreed to take 1 million metric ton/year (mmty) for 15 years on…
European Natural Gas Prices Fall as Supply Outages Ease – LNG Recap
European natural gas prices fell again on Monday, picking up where they left off last week as the market is for now well supplied and storage inventories are on track to fill ahead of winter. The prompt Title Transfer Facility (TTF) fell by 10% Monday and settled below $10/MMBtu. The contract has lost steam after…
Centrica Expands Natural Gas Storage Capacity at UK’s Rough Facility
Centrica plc has boosted capacity at the UK’s largest natural gas storage facility months after it reopened to help keep the market balanced and prices in check following Russia’s move to significantly reduce natural gas exports to Europe when it invaded Ukraine. Centrica, Great Britain’s largest energy supplier, said the Rough storage facility 18 miles…
European Natural Gas Consumption Continues to Plummet
The European Union’s (EU) independent energy regulator reported the bloc’s natural gas consumption has continued to drop even as trade liquidity and imports from the United States are still on the rise. The EU’s gas consumption has dropped 20.3% year-to-date, according to the latest market report from the European Union Agency for the Cooperation of…