European Union

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…

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…

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)…

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…

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…

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…

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…

Despite sweltering heat waves and a slight lift in European prices, LNG market activity is expected to remain light as buyers and U.S. producers hone in on the future supply and demand scenario. After a brief climb to almost $11/MMbtu last week, the Dutch Title Transfer Facility (TTF) dropped to $8.705/MMBtu at the end of…

European Commission (EC) officials have called the bloc’s Aggregate EU joint natural gas purchasing platform a success after closing the second tender, but market participants and analysts are still calling for more information around contracts. Out of the nearly 12 Bcm matched in the second tender, liquefied natural gas accounted for 5.5 Bcm and the…