While LNG demand still remains mostly lax across Europe and Asia, the specter of supply volatility helped stoke global prices Monday as traders reacted to a bevy of attacks in Russia and Ukraine. The Dutch Title Transfer Facility (TTF) continued its upward march from last week, closing above $9/MMBtu. Asian liquefied natural gas prices followed…
Israel
Articles from Israel
More Israeli Natural Gas Could Reach Global Markets Via Egyptian LNG Facilities
Natural gas output from Israel is again poised to increase as Chevron Corp. and its partners plan to invest more in the Tamar field, raising prospects for additional Eastern Mediterranean volumes to reach the global market via Egyptian liquefaction facilities. Tamar’s production is set to go from 1.2 Bcf/d to nearly 1.6 Bcf/d now that…
BP, Adnoc East Mediterranean Partnership to Advance Egyptian Natural Gas
Abu Dhabi National Oil Co. (Adnoc) and BP plc are creating a joint venture (JV) focused on Egyptian natural gas production as conflict in Israel and Palestine continues to pressure Eastern Mediterranean energy exports. The new JV, majority-owned by BP (51%), would include the London-based major’s interest in three offshore development concessions, as well as…
Will Middle East Tensions Test 2024’s Thin Global Natural Gas Supply Balance?
Headed into 2024, global natural gas prices have seemingly coalesced around a new normal after a volatile two-year period, but experts warn a tenuous market balance means volatility is likely just around the corner for at least the next year. While prices for spot LNG and European pipeline volumes are elevated after Russia’s 2022 invasion…
Egyptian LNG Exports Lifted by Return of Israeli Feed Gas
Egypt’s LNG exports have bounced back this month after domestic gas shortages and war in Israel have curbed output this year. Kpler data showed this week that Egypt has exported three full cargoes so far this month and a fourth vessel has a port call for Idku on Thursday. One of those cargoes is destined…
Middle East Shipping Chokepoint Pushes Global Natural Gas Prices Higher – LNG Recap
Global natural gas prices bounced back Monday, lifted by escalating tensions in the Middle East, where increasing attacks in the Red Sea have impacted commercial shipping operations. BP plc joined a growing list of major shipping companies in announcing that it would halt all of its oil and natural gas cargoes in the Red Sea.…
Qatar Pulls Europe Closer with Spate of LNG Supply Deals
Even as Qatar faces criticism over its links to Palestinian militant group Hamas, Europe is increasingly tying its future energy security to the natural gas-rich state. Energy Aspects’ James Waddell said Israel’s war against Hamas is “concerning for European buyers,” but not enough for them to stop signing long-term liquefied natural gas deals with Qatar.…
Growing Conflict in the Middle East, Cooler Temperatures Spike Global Natural Gas Prices – LNG Recap
Global natural gas prices edged upward despite limited activity on the market as traders weighed the potential winter supply risk from a widening war in the Middle East and colder forecasts. European and East Asian benchmark prices jumped Monday, reversing last week’s downward slope as hefty storage levels and mild weather continued to drag on…
December Natural Gas Futures Debut with Thud Amid ‘Overbought’ Conditions; Spot Prices Surge
The December natural gas futures contract opened its front-month campaign with a whimper, hampered by warming trends in weather forecasts, profit-taking and expectations for one more stout storage increase. At A Glance: Futures shed 13.1 cents Forecasts trend warmer NGI models 82 Bcf build Coming off solid gains over the course of the prior week,…
European Natural Gas Prices Gain as Egypt Says Pipeline Imports Stop – LNG Recap
Egypt’s government said Sunday that its natural gas imports have stopped as Israel intensified its fight against Hamas in Gaza. Natural gas prices in Asia and Europe stabilized Monday after declines last week. The market again braced for the possibility of a broader conflict in the Middle East. Egypt said Sunday that gas supplied from…