Nord Stream

As traders continued to read the tea leaves on winter supply dynamics both at home and abroad, a combination of fading weather-driven demand and strong production saw natural gas futures tumble in the market’s return from the Labor Day holiday. Extending a 47.6-cent sell-off leading into Labor Day Weekend, the October Nymex contract plunged another…

European natural gas prices retreated Tuesday as governments considered a bevy of options to intervene and limit the economic impacts of a relentless energy crisis. Title Transfer Facility (TTF) prices soared Monday. They finished nearly $10 higher as the week got underway and the market weighed Gazprom PJSC’s late Friday announcement that it would not…

Russia on Wednesday shut down the massive Nord Stream 1 (NS1) pipeline serving Europe for another three days of maintenance, once again raising fears that flows won’t resume when work ends. Nominations on NS1 fell to zero early Wednesday, according to the operator. Deliveries on the 6 Bcf/d, 745-mile system that stretches from Russia to…

European natural gas prices on Monday hit the highest level since March as dry, hot weather has left water levels on the Rhine River low and made navigation for some fully loaded ships difficult.  The Rhine is a key waterway in Northwest Europe for moving industrial goods. The low water levels have limited coal and…

Russia’s natural gas exports to the European Union (EU) and UK plummeted during the first seven months of the year, hitting their lowest point in decades on one route last month, the Energy Information Administration (EIA) said this week, citing data from Refinitiv Eikon. The decline between January and July comes as no surprise as…

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…

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…

HOUSTON (ICIS) – Asia spot LNG prices have fallen this week, with the September ’22 ICIS East Asia Index (EAX) down more than 9% on 21 July from one week ago. The EAX has declined in recent days after peaking above $40/MMBtu.

The European Commission (EC) on Wednesday released a plan to cut natural gas consumption by 15% until next spring, a day after Russia suggested it would resume natural gas deliveries on Nord Stream 1 (NS1) at a reduced rate. The continent has been girding for the possibility that flows might not resume on the major…