Gazprom

European natural gas prices continued declining Monday to the lowest point in three months on mild weather forecasts and reports of heightened storage, despite threats from Russia of a complete end to pipeline exports. After a brief mid-week jump last Wednesday (Oct. 12), natural gas linked to the Dutch Title Transfer Facility (TTF) benchmark continued…

OPEC-plus members, including Saudi Arabia and Russia, agreed on Wednesday to cut crude production by 2 million b/d. It marked the coalition of oil-producing countries’ largest pullback on output since the early days of the pandemic in April 2020, a move that could both send prices back to $100/bbl and aid Russia’s escalating war in…

Russia’s Gazprom PJSC again reported a slide in both natural gas production and exports as it has nearly cut off all deliveries to Europe in retaliation for sanctions against its war in Ukraine.  The state-owned company, which holds the world’s largest gas reserves and is among the largest exporters, said year/year deliveries to countries outside…

Gazprom PJSC has reduced gas deliveries to France due to a disagreement over contracts, Engie SA said Tuesday.

President Vladimir Putin’s latest decree to stop sales of Russian energy assets, leaves the status and progress of Russia’s liquefied natural gas (LNG) projects in disarray.  The decree takes full control of the 9.6 mmt/y Sakhalin-2 project in Russia’s far east. Shell plc has already said it plans to divest its 27.5% stake in the…

Sympathetic to spiking European prices amid constraints on imports from Russia, domestic natural gas futures were soaring in early trading Monday. As of around 8:55 a.m. ET, the September Nymex contract was up 53.5 cents to $9.871/MMBtu. Surging Dutch Title Transfer Facility (TTF) prices in Europe, driven by supply fears amid tensions over the Russian…

Gazprom PJSC’s natural gas production has dropped 10.4% since January, dragged down by a steep cut in pipeline exports to Europe, which have fallen by 33.1% so far this year. The company has boosted exports to China.  Russia produced 249.7 billion cubic meters (Bcm) between Jan. 1 and July 15, down by 29.1 Bcm compared…

Ukraine’s natural gas transmission system operator (TSO) warned Tuesday of potential damage to one of the transit routes for moving Russian natural gas to Europe after reportedly detecting an unannounced change in pressure by Gazprom PJSC. Gas TSO of Ukraine reported a sharp increase in pressure on the Urengoy-Pomary-Uzhhorod (UPU) pipeline section on the border…

Russia’s Gazprom PJSC said Monday that it would again reduce flows on the Nord Stream 1 (NS1) pipeline to take another turbine out of service for repairs, further cutting deliveries to Europe where prices soared on the decision.  The company said deliveries on the 745-mile, 6 Bcf/d link between Russia and Germany would be cut…