Russia-Ukraine conflict

U.S. energy bankers expect to see “sustained increases” in global natural gas and oil prices – at a higher level than predicted earlier this year. According to the Fall 2022 Energy Price Deck Survey of 23 energy bank executives that was conducted in October by Haynes and Boone LLC, the forecasts showed significantly increased near-term…

Europe is expected to continue paying exorbitant prices to attract LNG cargoes next year, particularly given how limited new supplies of the super-chilled fuel will be. A decline in sanctioned projects over the last decade during a low price environment and underinvestment in fossil fuels means new liquefaction capacity may be scarce until 2025, when…

U.S. crude oil exports drove another record quarter for the Port of Corpus Christi in South Texas as Western European buyers continue to shift away from Russian crude imports following the Kremlin’s invasion of Ukraine, it said Monday. A record of 48.3 million tons set in the third quarter surpassed the previous tonnage record of…

Excelerate Energy Inc. has for now shifted its focus to fulfilling Europe’s need for natural gas as the continent continues working to buildout import infrastructure to fill the void left by declining Russian supplies.  The company has the world’s largest portfolio of floating LNG terminals and has worked to deploy the infrastructure and pursue other…

OPEC slashed its global crude oil demand outlook for a second consecutive month, citing slowing economic activity in the United States and Europe as well as ongoing pandemic-related lockdowns in China and geopolitical upheaval linked to Russia’s war in Ukraine. In its closely watched monthly market report, the cartel on Monday lowered its forecast for…

Domestic crude production climbed notably last week, putting output near the 2022 peak, as U.S. demand accelerated and global market conditions tightened. The Energy Information Administration (EIA) said Wednesday that output for the week ended Nov. 4 climbed by 200,000 b/d from the previous week to 12.1 million b/d. That brought production close to the…

Click here to listen to the latest episode of NGI’s Hub & Flow, which delves into Europe’s current energy crisis, the post-coal power market and what this could mean for the future of natural gas. In this episode, NGI Senior Energy Analyst Shaylon Stolk lays out the status of coal-fired power generation and the intersection…

The CEO for New England’s largest utility, Eversource Energy, called on President Biden in a letter last week to enact federal emergency orders to “swiftly address the growing concerns” of New England’s access, or lack thereof, to natural gas this winter heating season.  New England, which lacks the natural gas pipeline infrastructure to fill out…

The world’s largest natural gas trader faced a challenging third quarter, whipped by up-and-down prices related to Russia’s invasion of Ukraine, however, the integrated major overcame issues to post its second highest ever quarterly results. “We are delivering robust results at a time of ongoing volatility in global energy markets,” CEO Ben van Beurden said…