Russia

President Biden on Monday warned that if Russia invades Ukraine, the 5.3 Bcf/d Nord Stream 2 (NS2) pipeline project will not proceed. The president made the remarks at a press conference, held with German Chancellor Olaf Scholz on his first visit to the White House.  The future of the critical energy infrastructure project to deliver…

Russian state-owned Gazprom PJSC’s latest 30-year supply deal with China National Petroleum Corp. (CNPC) for 10 billion cubic meters (Bcm) per year via a new pipeline, the Far Eastern route, could eventually increase Russia’s capacity to China by 48 Bcm/year and impact China’s future demand for liquefied natural gas (LNG). The deal comes at a…

Citing robust demand and fading pandemic worries, an alliance of major oil producing countries agreed on Wednesday to extend production increases into March. Policymakers from the Organization of the Petroleum Exporting Countries (OPEC), headed by Saudi Arabia, and a Russia-led group of allies known as OPEC-plus, said they aim to boost output by 400,000 b/d…

European natural gas prices declined again Tuesday despite geopolitical tensions between Russia and Ukraine, which showed no signs of relenting. Mild weather and strong wind output also dragged down prices Monday, reversing last week’s gains that came as the market baked in the risk to European supplies from a broader conflict between Russia and Ukraine.…

Germany’s new coalition government may revisit proposals to diversify the country’s natural gas supply and reduce its reliance on Russian imports.   However, the new coalition government which came into office in December, has not publicly supported any plans. Stakeholders in two of three previously proposed LNG projects for the country told NGI that they expect…

President Biden and European Commission President Ursula von der Leyen pledged Friday to work closely to ensure adequate energy supplies for Europe, including liquefied natural gas (LNG), as geopolitical tensions between Russia and Ukraine show no signs of easing.  “The United States and the European Union (EU) are working jointly towards continued, sufficient and timely…

A roundup of news and commentary from NGI’s LNG Insight  Nord Stream 2 (NS2) has established a subsidiary to operate a portion of the pipeline in Germany. The 5.3 Bcf/d system is ready to move natural gas from Russia to Germany, but it still needs regulatory approval.  NS2 needs to comply with European Union rules…

The White House is working with European allies to ensure adequate natural gas supply in the event Russia cuts off access, press secretary Jen Psaki said this week. During a gaggle with the press, Psaki confirmed that the Biden administration has been working on contingency plans if Russia were to invade Ukraine. Russia is a…

Russian aggression toward Ukraine continued to stress European alliances and global natural gas prices Friday following the defeat of sanctions for the 5.3 Bcf/d Nord Stream 2 (NS2) pipeline in the Senate. The sanctions – brought by Sen. Ted Cruz (R-Texas) Thursday night as part of a deal with Sen. Majority Leader Chuck Schumer (D-New…