European gas

Dutch transmission system operator NV Nederlandse Gasunie said this week it continues to explore ways to boost LNG import capacity in the Netherlands, including expanding existing facilities in Rotterdam and Eemshaven. At the same time, the company said a study indicated that a new floating storage and regasification unit (FSRU) in the port of Terneuzen…

Natural gas futures floundered back into freefall Wednesday – the case of a majority of trading sessions early in the new year – as production climbed, benign weather persisted and the market braced for an anemic storage withdrawal. At A Glance: Prompt month sheds 27.5 cents Production hits 102 Bcf/d Weather forecasts wobble After a…

European Union (EU) energy ministers on Tuesday failed to reach an agreement on a bloc-wide cap on natural gas prices at an emergency Energy Council meeting in Brussels. Since the European Commission proposed a gas price cap last month, the 27 member states have been split over how to reach a compromise on setting a…

With much of Europe continuing to scramble to secure adequate natural gas supplies in the wake of the Russian invasion of Ukraine and the resulting ramifications, LNG is seen as a leading solution to help solve the global energy crisis, which experts believe could continue for the next two to three years until new global…

Domestic oil production jumped back to the 2022 peak level as OPEC and its allies affirmed plans to slash production through the end of the year as fallout from Russia’s war in Ukraine and China’s pandemic woes continued to roil global markets. The U.S. Energy Information Administration (EIA) said Wednesday output for the period ended…

Equinor ASA has submitted a plan to Norwegian regulators outlining a $14 billion-plus project for the country’s first planned deepwater development to boost long-term natural gas supply to Europe. Equinor and its partners told regulators they could tap the Irpa gas field in the Vøring Basin deep below the Norwegian Sea. Discovered in 2009 and…

Europe is expected to continue paying exorbitant prices to attract LNG cargoes next year, particularly given how limited new supplies of the super-chilled fuel will be. A decline in sanctioned projects over the last decade during a low price environment and underinvestment in fossil fuels means new liquefaction capacity may be scarce until 2025, when…

U.S. crude oil exports drove another record quarter for the Port of Corpus Christi in South Texas as Western European buyers continue to shift away from Russian crude imports following the Kremlin’s invasion of Ukraine, it said Monday. A record of 48.3 million tons set in the third quarter surpassed the previous tonnage record of…

Excelerate Energy Inc. has for now shifted its focus to fulfilling Europe’s need for natural gas as the continent continues working to buildout import infrastructure to fill the void left by declining Russian supplies.  The company has the world’s largest portfolio of floating LNG terminals and has worked to deploy the infrastructure and pursue other…