Norway

Global Natural Gas Prices Mixed on Stable Fundamentals – LNG Recap

Global Natural Gas Prices Mixed on Stable Fundamentals – LNG Recap

Global natural gas prices were stable Monday as the market weighed easing supply constraints against forecasts for hotter weather in parts of the northern hemisphere and continued geopolitical tensions. In Europe, the Title Transfer Facility declined again, with the prompt contract giving up another 1.5% on Monday after it lost 6% last week. Flows at…

May 13, 2024
Maintenance, Unplanned Outages at U.S. Export Plants Cut Into Global Supply – LNG Recap

Maintenance, Unplanned Outages at U.S. Export Plants Cut Into Global Supply – LNG Recap

Global natural gas prices oscillated on Monday as the market reacted to supply outages in the United States and Europe. Feed gas deliveries to the Freeport LNG export terminal on the upper Texas coast sank over the weekend. The facility is scheduled this week to restart a train that went offline in January. NGI data…

March 11, 2024
Norwegian Production Outage Fails to Lift TTF Higher – LNG Recap

Norwegian Production Outage Fails to Lift TTF Higher – LNG Recap

European natural gas prices gave up last week’s gains on Monday, despite an unplanned outage at a top field in Norway and ongoing conflict in the Middle East. Norwegian natural gas exports to the continent were nominated at 286 million cubic meters (MMcm) on Monday, down from recent levels of 340 MMcm/d due to unplanned…

February 5, 2024
Norway Awards 62 Offshore Drilling Permits, Boosts Arctic Exploration 

Norway Awards 62 Offshore Drilling Permits, Boosts Arctic Exploration 

Norway has awarded 62 offshore drilling licenses from the country’s 2023 auction, expanding explorable acreage in the Arctic and potentially locking in decades of oil and natural gas supply for European allies. The Ministry of Energy awarded offshore production permits on the Norwegian Continental Shelf to 24 oil and gas companies, with Equinor ASA and…

January 24, 2024
Wintry Weather No Match from Strong Global Natural Gas Supplies – LNG Recap

Wintry Weather No Match from Strong Global Natural Gas Supplies – LNG Recap

A bitter cold snap gripping much of Europe wasn’t enough Monday to sustain a three-day rally in natural gas prices there as strong imports have kept the continent well supplied.  Title Transfer Facility prices fell across the curve Monday, when the prompt month closed 9% lower to finish near $10/MMBtu. Prices jumped last week ahead…

January 8, 2024
UK’s Harbour Buoying Up Global Natural Gas and Mexico Portfolio with Wintershall Upstream Takeover

UK’s Harbour Buoying Up Global Natural Gas and Mexico Portfolio with Wintershall Upstream Takeover

Harbour Energy plc joined the dealmaking parade on Thursday, announcing a $11.2 billion “transformational acquisition” of the upstream assets of Germany’s largest natural gas and oil producer, Wintershall Dea AG. Wintershall has gas and oil prospects in Algeria, Argentina, Denmark, Egypt, Germany, Libya, Mexico’s onshore and offshore, and in Norway. Also included in the deal…

December 21, 2023
Equinor Nets Massive Natural Gas Supply Agreement with Germany’s Sefe

Equinor Nets Massive Natural Gas Supply Agreement with Germany’s Sefe

While a stream of LNG cargoes is largely helping Europe maintain its tight natural gas supply balance, the region’s largest gas user, Germany, is increasing its reliance on Norwegian pipeline flows to fuel its industry until an alternative fuel market emerges. Norway’s Equinor ASA has signed a letter of intent to supply German industrial gas…

December 20, 2023
Norway Encourages E&Ps to ‘Think Outside the Box’ 

Norway Encourages E&Ps to ‘Think Outside the Box’ 

Pipeline flows of natural gas from Norway have helped the European Union maintain a tight supply balance, along with demand cuts and record LNG imports, but the country’s oil and gas authority reports that most of the discovered reserves remain untapped. In an updated survey of the natural gas discoveries, the Norwegian Petroleum Directorate (NPD)…

December 12, 2023
Equinor Finds More Oil, Natural Gas in North Sea’s Mature Fields

Equinor Finds More Oil, Natural Gas in North Sea’s Mature Fields

Equinor ASA said Friday it has made yet another oil and natural gas discovery in the northern part of the North Sea, building on efforts to maintain strong production for Europe in the years ahead as the continent continues to wean itself off Russian supplies. The new discovery in the company’s Troll/Fram area comes in…

August 21, 2023
European Natural Gas Prices Fall as Supply Outages Ease – LNG Recap

European Natural Gas Prices Fall as Supply Outages Ease – LNG Recap

European natural gas prices fell again on Monday, picking up where they left off last week as the market is for now well supplied and storage inventories are on track to fill ahead of winter. The prompt Title Transfer Facility (TTF) fell by 10% Monday and settled below $10/MMBtu. The contract has lost steam after…

July 10, 2023
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