Germany

German utility RWE AG has secured another LNG supply source in an agreement with Abu Dhabi National Oil Company (ADNOC) that could bring additional cargoes to Germany’s developing import terminals as soon as December. RWE and the United Arab Emirates’ (UAE) state-owned ADNOC agreed to a multi-year supply contract for liquefied natural gas starting in…

The price spread between the ICIS East Asia Index (EAX) and Dutch TTF widened over the week, with East Asian spot prices dipping on high utility inventory levels in Japan and the latest tender cargo awards from south and southeast Asia.

Uniper SE said Wednesday that the German government would spend 8 billion euros ($7.9 billion) to take a 99% stake in the company and nationalize the country’s largest utility.  The German government would also acquire all the shares held by Uniper’s largest stakeholder, Finnish energy company Fortum Oyj. The deal amends a bailout announced in…

Excelerate Energy Corp. has agreed to supply Germany with a fifth floating storage and regasification unit (FSRU) that could be used to increase LNG imports by next winter. The 5 Bcm/year capacity vessel chartered for five years from Excelerate, headquartered north of Houston in The Woodlands, could become the second FSRU at the liquefied natural…

 A mammoth wind-powered hydrogen production project planned in Newfoundland is poised to emerge as a frontrunner to keep the Canadian government’s promise to deliver new supplies for energy-hungry Europe. Prime Minister Justin Trudeau and German Chancellor Olaf Scholz plan to unveil an energy cooperation agreement at the Stephenville deepwater port site for the proposed Project…

Germany’s government has moved to secure supply for its two developing LNG terminals with a tentative agreement between some of the country’s largest energy firms. Economy Minister Robert Habeck signed a memorandum of understanding (MOU) Tuesday with Uniper SE and RWE AG agreeing to cooperate on supplying liquefied natural gas (LNG) for two import terminals…

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…

The German government has agreed to take a 30% stake in Uniper SE with a capital infusion to bailout the giant utility, which has suffered from natural gas supply cuts and soaring prices. Uniper’s CEO Klaus-Dieter Maubach said the deal would preserve the company’s “system-critical” role for Germany’s energy supply. The country is the largest…

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.…