European gas

Pipeline flows of natural gas from Norway have helped the European Union maintain a tight supply balance, along with demand cuts and record LNG imports, but the country’s oil and gas authority reports that most of the discovered reserves remain untapped. In an updated survey of the natural gas discoveries, the Norwegian Petroleum Directorate (NPD)…

The European Union’s (EU) energy regulatory agency has recommended bloc members continue reducing natural gas consumption in the short-term and prioritize energy projects that cut future demand. Since European natural gas prices rose to peak levels last summer, the region’s supply and demand balance has found an uneasy equilibrium thanks to demand reduction policies and…

QatarEnergy said Wednesday it has agreed to supply Shell plc with 3.5 million tons (Mt) of LNG from its massive North Field expansion project for nearly three decades.  The liquefied natural gas would come from the 32 Mt/year North Field East (NFE) project and the 16 Mt/year North Field South (NFS) project. Shell was awarded…

The European Union (EU) and Japan, two of the world’s largest importers of natural gas, agreed this week to strengthen energy cooperation by establishing an EU-Japan energy security dialogue focused on global LNG flows. The partnership will work to improve global security of supply, transparency of markets and reduction of methane emissions in the liquefied…

While the European Union has been working more than a year to replace Russian pipeline gas and decrease the country’s influence on the European economy, imports of Russian LNG have been ticking upward. The EU may need further sanctions on LNG if it’s serious about kicking Russian fossil fuels, according to a European think tank.…

As Europe’s LNG infrastructure continues to expand, U.S. volumes to the continent surged during the first five months of the year before dropping in May. Falling natural gas prices didn’t encourage European buyers to grab cargoes in May, leading to a 7% month/month drop as warm weather settled in. A mild winter, collapsed industrial demand…

Cheniere Energy Inc. said Tuesday that it has already signed an agreement to supply LNG from a massive expansion of its Sabine Pass liquefaction (SPL) terminal in Louisiana just two months after it kicked off the federal permitting process.  CEO Jack Fusco told analysts during a call to discuss the company’s first quarter results that…

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…

European natural gas storage inventories are so full heading into injection season and Asian demand remains weak enough that there is a remote possibility of U.S. LNG cargo cancellations later this summer. Even a limited number of cargo cancellations would mark an extraordinary turnaround from a tight market that’s been shaped by supply fears since…