Russia

News that the outage at Freeport LNG in the US will last longer than initially expected drove up the ICIS European TTF gas benchmark due to lower expected US exports. The ICIS East Asia Index (EAX) also climbed, underscoring its close ties to Europe’s prices.

As European natural gas prices rise yet again, data suggest Russia’s gains from global energy market volatility are blunting the impact of sanctions on its exports. In a study from the Centre for Research on Energy and Clean Air (CREA), an international research group based in Finland, researchers concluded record-high energy prices are helping Russia…

European and Asian natural gas prices continued soaring higher Wednesday with the market on edge about two key supply outages in Russia and the United States. Word on Tuesday that the liquefied natural gas (LNG) terminal on Quintana Island, TX, Freeport LNG, won’t enter full service until later this year after an explosion, as well…

Gazprom PJSC said Tuesday that it can only ship 100 million cubic meters/day (MMcm) on the Nord Stream 1 pipeline, or 40% less than the system’s capacity.

Russia’s state-controlled Gazprom PJSC has threatened a cut-off of natural gas supplies to Denmark and the Netherlands, and a partial reduction for Germany, as it continues to demand contract payments in rubles. On Monday, Denmark’s Ørsted AS and GasTerra BV in the Netherlands both reported they were notified by state-controlled Gazprom that it would halt…

Russia’s largest independent gas producer, PAO Novatek, is struggling with its two liquefied natural gas (LNG) projects in the country’s Far North under the latest European sanctions imposed against Russia.   Novatek’s first operating export facility, Yamal LNG, is finding it difficult to secure European buyers. And the delay in the construction of its second project,…

Growth in the Permian Basin, Guyana’s offshore and the global liquefied natural gas (LNG) market are gaining momentum, along with low-carbon opportunities, ExxonMobil CEO Darren Woods said last week. During the 1Q2022 conference call on Friday (April 29), Woods told investors that “recent events” have clarified the direction for oil and gas producers.  New investments…

The sharp upturn in energy demand, which has escalated since Russia invaded Ukraine, has created a big opening for Chevron Corp. to ramp up once again in the massive Permian Basin and ponder whether it’s time to invest in U.S. liquefied natural gas (LNG), CEO Mike Wirth said Friday. In sharing the 1Q2022 results, Wirth…

TotalEnergies SE said Thursday it hasn’t ruled out exiting Russia entirely, a move management said would not disrupt the significant growth seen in the firm’s liquefied natural gas (LNG) operations.  The Paris-based supermajor again condemned Russia’s invasion of Ukraine during its first quarter earnings call. Management announced after the incursion that it would provide no…