Russia-Ukraine conflict

Russian LNG Exports Continue to Grow as Kremlin Targets Expansions

Russian LNG Exports Continue to Grow as Kremlin Targets Expansions

Russian LNG exports to Europe are on the rise despite the continent’s efforts to diversify natural gas supplies and impose a series of sanctions against the country for its war in Ukraine. Most of the liquefied natural gas exported from Russia to Europe has been sourced from PAO Novatek’s Yamal LNG facility in the country’s…

November 28, 2022
Equinor Targets Deepwater Norwegian Natural Gas Field to Boost Euro Supply

Equinor Targets Deepwater Norwegian Natural Gas Field to Boost Euro Supply

Equinor ASA has submitted a plan to Norwegian regulators outlining a $14 billion-plus project for the country’s first planned deepwater development to boost long-term natural gas supply to Europe. Equinor and its partners told regulators they could tap the Irpa gas field in the Vøring Basin deep below the Norwegian Sea. Discovered in 2009 and…

November 23, 2022
Energy Bank Execs Forecast Ongoing Strength in Global Natural Gas, Oil Prices

Energy Bank Execs Forecast Ongoing Strength in Global Natural Gas, Oil Prices

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…

November 16, 2022
Declining Output, Lack of New Capacity Set to Test European LNG Imports in 2023

Declining Output, Lack of New Capacity Set to Test European LNG Imports in 2023

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…

November 16, 2022
Oil Exports Fuel Record Quarter for Corpus Port in South Texas

Oil Exports Fuel Record Quarter for Corpus Port in South Texas

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…

November 16, 2022
Excelerate Energy Sees ‘Immediate Opportunity’ in European Natural Gas Market

Excelerate Energy Sees ‘Immediate Opportunity’ in European Natural Gas Market

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…

November 15, 2022
Once Again, OPEC Cuts Global Oil Demand Forecast Amid Recession Headwinds

Once Again, OPEC Cuts Global Oil Demand Forecast Amid Recession Headwinds

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…

November 14, 2022
U.S. E&Ps Step Up Oil Production as Demand Climbs, Recession Lurks

U.S. E&Ps Step Up Oil Production as Demand Climbs, Recession Lurks

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…

November 9, 2022
Can Natural Gas Carry the Post-Coal Electricity Market? – Listen Now to NGI’s Hub & Flow

Can Natural Gas Carry the Post-Coal Electricity Market? – Listen Now to NGI’s Hub & Flow

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…

November 9, 2022
Eversource CEO Urges Biden to Waive Jones Act as New England Facing Possible ‘Severe Natural Gas Shortage’

Eversource CEO Urges Biden to Waive Jones Act as New England Facing Possible ‘Severe Natural Gas Shortage’

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…

November 7, 2022
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