Gazprom

Gazprom Again Cuts NS1 Natural Gas Flows to Europe – LNG Recap

Gazprom Again Cuts NS1 Natural Gas Flows to Europe – LNG Recap

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…

July 25, 2022
Russia’s Gazprom Awaits Return of ‘Essential’ Engine as European Gas Markets Shift

Russia’s Gazprom Awaits Return of ‘Essential’ Engine as European Gas Markets Shift

Despite news that Russia’s Gazprom PJSC could be receiving a vital turbine engine for its Nord Stream 1 (NS1) pipeline system, European natural gas markets creeped upward again on anxiety over prolonged transmission outages and extreme summer heat. Gazprom blamed sanctions delaying the equipment’s return from a Canadian maintenance facility affiliated with Siemens AG for…

July 18, 2022
Europe Preparing for Russia to Halt Natural Gas Supplies on NS1 as Tensions Grow

Europe Preparing for Russia to Halt Natural Gas Supplies on NS1 as Tensions Grow

European countries are preparing for Gazprom PJSC’s next move as a 10-day maintenance period on the Nord Stream 1 (NS1) natural gas pipeline is scheduled to end July 21.  Whether the pipeline returns to full capacity, reduced capacity or in a worst case scenario, no deliveries at all, has left Europe readying for the worst.…

July 15, 2022
Gazprom Hints at Extended Outage of Nord Stream 1, Delayed Receipt of Turbine Engine from Canada

Gazprom Hints at Extended Outage of Nord Stream 1, Delayed Receipt of Turbine Engine from Canada

Russia’s Gazprom PJSC said in a Wednesday statement it currently had no indication vital equipment for its Nord Stream 1 (NS1) pipeline would be returned from Canada, potentially reversing hopes of a quick restoration of natural gas capacity for Europe. A gas turbine engine from one of NS1’s compressor stations (CS) has been under maintenance…

July 13, 2022
Oil and Gas Strike in Norway Ends, But TTF Rally Continues

Oil and Gas Strike in Norway Ends, But TTF Rally Continues

Another crisis for Europe’s gas market was avoided late Monday after the Norwegian government intervened to stop a strike that could have significantly cut production from some of the country’s most critical gas fields. Norway’s Labor Ministry announced late Tuesday that the government took emergency action to intervene in the flagging negotiations between the Lederne…

July 6, 2022
Europe and Asia LNG Prices Surge on Freeport Outage, Nord Stream 1’s Reduced Flows

Europe and Asia LNG Prices Surge on Freeport Outage, Nord Stream 1’s Reduced Flows

News that the outage at Freeport LNG in the US will last longer than initially expected drove up the ICIS European TTF gas benchmark due to lower expected US exports. The ICIS East Asia Index (EAX) also climbed, underscoring its close ties to Europe’s prices.

June 17, 2022

Europe’s Top Natural Gas Buyers Continue to See Cut in Russian Deliveries – The Offtake

Europe’s largest gas buyers continued to see cuts in Russian deliveries Friday. Germany’s Uniper SE had received roughly 40% of its nominations, while Eni SpA had received about 50% of its orders. Slovakia also reported that its flows had been cut in half. Austria and the Czech Republic have seen flows reduced, while volumes from Russia arriving in France via Germany have been cut entirely. France receives less than 20% of its gas via Germany. 

June 17, 2022
Global Natural Gas Prices Soar on Freeport LNG, Russian Outages

Global Natural Gas Prices Soar on Freeport LNG, Russian Outages

European and Asian natural gas prices continued soaring higher Wednesday with the market on edge about two key supply outages in Russia and the United States. Word on Tuesday that the liquefied natural gas (LNG) terminal on Quintana Island, TX, Freeport LNG, won’t enter full service until later this year after an explosion, as well…

June 15, 2022

Nord Stream 1 to Cut Flows on Maintenance Delays Caused by Sanctions – The Offtake

Gazprom PJSC said Tuesday that it can only ship 100 million cubic meters/day (MMcm) on the Nord Stream 1 pipeline, or 40% less than the system’s capacity.

June 14, 2022
TTF Sell Off Continues as Natural Gas Inventories Climb, Imports Stay Strong – LNG Recap

TTF Sell Off Continues as Natural Gas Inventories Climb, Imports Stay Strong – LNG Recap

European natural gas prices continued their decline Tuesday as storage inventories on the continent appeared on track to fill by the end of summer. The prompt Title Transfer Facility (TTF) contract has shed nearly $5 over the last week. While liquefied natural gas (LNG) arrivals have slowed somewhat, they remain well above deliveries at this…

June 7, 2022