Russia

European Natural Gas Prices Continue Rising Despite NS2 Completion

European Natural Gas Prices Continue Rising Despite NS2 Completion

Gazprom PJSC has completed the Nord Stream 2 pipeline and said last week that it would work toward starting commercial operations on the system by the end of the year to move more supplies to natural gas-starved Europe.  The company tied together the final section of the system’s second leg between the German shore and…

September 13, 2021

Gazprom Blames Sky High Demand for Reduced Pipeline Flows to Europe — The Offtake

A roundup of news and commentary from NGI’s LNG Insight Gazprom PJSC said unusually high demand in Russia and elsewhere has made it difficult to maintain sufficient natural gas flows to Europe. Russian pipeline deliveries to the continent this year have been down, helping to keep supplies tight and prices up. A fire earlier this…

August 17, 2021

European Natural Gas Market Tightens as Gazprom Again Snubs Ukranian Pipeline Capacity – The Offtake

A roundup of news and commentary from NGI’s LNG Insight  Gazprom PJSC did not book any of the 63.7 million cubic meters/day of interruptible natural gas pipeline capacity through Ukraine at a monthly auction on Tuesday. It was the fourth consecutive month that Gazprom did not take additional volumes. The company has been booking additional…

July 27, 2021
Germany, U.S. Reach Compromise on NS2, but European NatGas Supply Uncertainty Remains

Germany, U.S. Reach Compromise on NS2, but European NatGas Supply Uncertainty Remains

The United States and Germany have reached a compromise on Russia’s Nord Stream 2 (NS2) pipeline, clearing a path for the project to finish unencumbered.  In a joint statement issued Wednesday, the countries pledged their support for Ukraine and agreed to sanction Russia if it uses the pipeline or energy supplies for geopolitical advantage. “The…

July 22, 2021
With Demand Rebounding, OPEC-Plus Reaches Deal to Lift Crude Production Through 2021, into 2022

With Demand Rebounding, OPEC-Plus Reaches Deal to Lift Crude Production Through 2021, into 2022

The Organization of the Petroleum Exporting Countries and its allied group of leading oil producers headed by Russia, aka OPEC-plus, on Sunday reached a deal to further boost production through the end of the year and into 2022. The member countries, led by Saudi Arabia, committed to bringing back all the crude supply they had…

July 19, 2021

Russia Snubs Additional Natural Gas Capacity to Europe Via Ukraine — The Offtake

A roundup of news and commentary from NGI’s LNG Insight Russia did not book additional interruptible pipeline transportation capacity for July through Ukraine at the Sudzha entry point at an auction Tuesday. It was the third month in a row that Gazprom PJSC elected not to take interruptible capacity to move more supplies to Europe.  …

June 29, 2021
U.S. Waiving Some Nord Stream Natural Gas Pipeline Sanctions, but Still Opposes European Project

U.S. Waiving Some Nord Stream Natural Gas Pipeline Sanctions, but Still Opposes European Project

The State Department this week waived fresh sanctions on the Nord Stream 2 AG (NS2) consortium that is building the natural gas pipeline from Russia to Europe as the Biden administration looks to strengthen relationships in the region. The 745-mile, 5.3 Bcf/d line as designed would traverse the Baltic Sea from Russia, to Greifswald, Germany.…

May 20, 2021
Novatek Secures Buyers for All Arctic LNG 2 Volumes

Novatek Secures Buyers for All Arctic LNG 2 Volumes

PAO Novatek, Russia’s largest independent natural gas producer, has contracted all of the supply from its proposed Arctic LNG 2 export project under development north of Siberia on the Gydan Peninsula. The company said it has signed 20-year sales and purchase agreements (SPA) with the project’s participants for its 19.8 million metric tons/year capacity. Arctic…

April 30, 2021
Southern Gas Corridor Makes Historic Delivery to Europe

Southern Gas Corridor Makes Historic Delivery to Europe

Europe has received its first shipment of natural gas via a $40 billion infrastructure project that took seven years to complete, further diversifying the continent’s energy supplies.  For the first time ever, Azerbaijan’s natural gas reached Europe through a direct pipeline connection as the last segment of the Southern Gas Corridor — the Trans-Adriatic Gas…

December 31, 2020
New Nord Stream Sanctions Draw Scrutiny, Stir Ire of Stakeholders

New Nord Stream Sanctions Draw Scrutiny, Stir Ire of Stakeholders

The Trump administration has unveiled a potentially quixotic effort to halt the controversial $11.4 billion Nord Stream 2 (NS2) natural gas pipeline from Russia to Germany by threatening to sanction companies that help complete the last 100 miles of the 745-mile line. The State Department plans to alter the Countering America’s Adversaries Through Sanctions Act…

July 17, 2020
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