Russia

Supply Constraints Create Step Change Up for European Gas, Asian LNG

Supply Constraints Create Step Change Up for European Gas, Asian LNG

Russian pipe gas flows to Europe fell again and will likely remain heavily curtailed over the coming weeks. This was a key driver behind price rises at the ICIS TTF which in turn lifted the ICIS East Asia Index (EAX) back to prices last seen in March.

June 24, 2022
Europe and Asia LNG Prices Surge on Freeport Outage, Nord Stream 1’s Reduced Flows

Europe and Asia LNG Prices Surge on Freeport Outage, Nord Stream 1’s Reduced Flows

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.

June 17, 2022
High Energy Prices Said Sustaining Russia’s Invasion of Ukraine

High Energy Prices Said Sustaining Russia’s Invasion of Ukraine

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…

June 17, 2022
Global Natural Gas Prices Soar on Freeport LNG, Russian Outages

Global Natural Gas Prices Soar on Freeport LNG, Russian Outages

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…

June 15, 2022

Nord Stream 1 to Cut Flows on Maintenance Delays Caused by Sanctions – The Offtake

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.

June 14, 2022
More Natural Gas Shutoffs Looming from Russia’s Gazprom Over Rubles Payments

More Natural Gas Shutoffs Looming from Russia’s Gazprom Over Rubles Payments

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…

June 1, 2022
Novatek’s LNG Export Projects Hit by Global Sanctions Against Russia

Novatek’s LNG Export Projects Hit by Global Sanctions Against Russia

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,…

May 25, 2022
ExxonMobil to Stay Disciplined Amid Growing Global Opportunities for Oil, Natural Gas

ExxonMobil to Stay Disciplined Amid Growing Global Opportunities for Oil, Natural Gas

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…

May 2, 2022
Chevron ‘Getting The Machine Running Again’ in Permian, Pondering U.S. LNG Growth

Chevron ‘Getting The Machine Running Again’ in Permian, Pondering U.S. LNG Growth

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…

April 29, 2022
TotalEnergies Says Exiting Russia Possible Amid Solid Growth in LNG Operations

TotalEnergies Says Exiting Russia Possible Amid Solid Growth in LNG Operations

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…

April 29, 2022
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