European Union

EU Parliament Exploring Ban on Re-Exporting Russian LNG from Bloc’s Ports

EU Parliament Exploring Ban on Re-Exporting Russian LNG from Bloc’s Ports

The European Commission (EC) this week is considering a ban on transshipments or re-exports of Russian LNG through European Union (EU) ports as part of Brussels’ latest sanctions package.  The UK, Poland, Estonia, Latvia, Lithuania, and Germany have banned Russian liquified natural gas imports, but an EU-wide ban on Russian LNG imports is not included…

May 7, 2024
EU Energy Watchdog Says LNG Demand Could Peak This Year

EU Energy Watchdog Says LNG Demand Could Peak This Year

The European Union’s (EU) LNG demand is likely to peak this year and buyers on the continent are likely to be over-contracted by 2030 as efforts to displace Russian natural gas over the last two years have been successful, according to the bloc’s energy watchdog.  Since 2022, when Russia invaded Ukraine and cut off gas…

April 24, 2024
Equinor Bets On Electrification to Sustainably Extend Natural Gas Supply to Europe

Equinor Bets On Electrification to Sustainably Extend Natural Gas Supply to Europe

Equinor ASA is phasing out gas-fired generation in one of its most prolific natural gas production hubs in favor of electricity as it looks to increase both the sustainability and the lifespan of its North Sea operations. Norway’s Equinor disclosed that its offshore facilities at the Sleipner field and the adjacent Gudrun platform had been…

April 16, 2024
EU Grants Members Option to Block Russian LNG Imports

EU Grants Members Option to Block Russian LNG Imports

European Union (EU) lawmakers approved new rules that would allow member countries to limit LNG imports from Russia as cargoes continue to hit Europe’s ports in record numbers. Under the new gas market regulations, countries could legally block Russian exporters from being able to bid on liquefied natural gas import or storage capacity. “We have…

April 12, 2024
EU Progresses Plan Allowing Members to Ban Russian LNG, Pipeline Gas Imports

EU Progresses Plan Allowing Members to Ban Russian LNG, Pipeline Gas Imports

European Union (EU) member countries may be allowed to ban natural gas pipeline and LNG imports from Russia and Belarus in the near future, potentially increasing tensions with some of the bloc’s largest importers of the super-chilled fuel. A proposed resolution endorsed on Friday by the European Parliament and the EU Council would give member…

December 13, 2023
Norway Encourages E&Ps to ‘Think Outside the Box’ 

Norway Encourages E&Ps to ‘Think Outside the Box’ 

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)…

December 12, 2023
Comfortable Balances, Mild Weather Keep Lid on Global Natural Gas Prices – LNG Recap

Comfortable Balances, Mild Weather Keep Lid on Global Natural Gas Prices – LNG Recap

Global natural gas prices continued their spiral Monday as weather patterns across the Northern Hemisphere again shifted warmer, preserving ample stocks and further easing supply concerns.  In Europe, the prompt Title Transfer Facility (TTF) contract slid 6.4% on Monday to close near $11/MMBtu. The contract dipped 4.3% last week despite an agreement among lawmakers late…

December 11, 2023
Ukraine’s Natural Gas Storage Sees Uptick in Usage from European Traders

Ukraine’s Natural Gas Storage Sees Uptick in Usage from European Traders

Ukraine’s storage contracts with western European gas traders are rising along with transported gas volumes despite Russia’s heightened campaign against the country’s energy infrastructure. As European Union storage has continued to outpace seasonal averages through the year, traders have been relying on Ukraine’s substantial underground storage facilities as a sink for the glut of liquefied…

September 29, 2023
European Regulators Considering Permanent Joint Natural Gas Purchasing Platform

European Regulators Considering Permanent Joint Natural Gas Purchasing Platform

Following the success of the first two natural gas supply tenders under the European Union’s (EU) joint purchasing initiative this year, the European Commission (EC) is considering whether to extend or make the scheme permanent when it is due to expire in December.  The Joint Participation Platform (JPP) was created in 2022 and launched this…

September 12, 2023
Spot Rates for LNG Carriers See Early Rise as Natural Gas Buyers Vie for Winter Deliveries

Spot Rates for LNG Carriers See Early Rise as Natural Gas Buyers Vie for Winter Deliveries

Spot rates for LNG vessel charters are rising sooner than last year as natural gas buyers and sellers hone in on the winter supply scenario and global risks that still abound. Spot vessel rates for liquefied natural gas deliveries east of the Suez canal reached about $100,000/day Friday for the first time since January and…

August 22, 2023
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