European Commission (EC) officials have called the bloc’s Aggregate EU joint natural gas purchasing platform a success after closing the second tender, but market participants and analysts are still calling for more information around contracts. Out of the nearly 12 Bcm matched in the second tender, liquefied natural gas accounted for 5.5 Bcm and the…
Russia
Articles from Russia
Russia Still Counting on Asian Demand as Natural Gas Output, Exports Continue Falling
Moscow has revised its gas strategy repeatedly since western sanctions were placed on Russia last year after it invaded Ukraine, and it is counting on Asia as an export destination to replace the loss of Europe’s 150 billion cubic meter (Bcm) market. The Russian government revised pipeline export targets last month to increase deliveries to…
India’s Cost-Sensitive Buyers Have Important Role to Play in LNG Spot Price Formation – Column
The Indian economy was not immune to the economic slowdown caused by the global pandemic in 2020. As in many countries, lockdowns led to a spike in unemployment and quick drops in most measures of economic activity.
Turkey Forging Ahead With Plans for Natural Gas Hub Less Reliant on Russia
Turkey is moving forward with plans for a regional LNG hub that could potentially exclude Russia as a partner. Reduced European gas demand, a recent offshore gas discovery and new liquefied natural gas supplies have helped reduce Russian pipeline imports – a sign that the Turkish government may have an alternative gas strategy. During the…
Global Natural Gas Market Unfazed by Revolt in Russia – LNG Recap
Global natural gas markets were calm Monday despite a brief armed rebellion in Russia over the weekend that called into question President Vladimir Putin’s grip on power. “The market seems to be reacting very little to events in Russia,” said Engie EnergyScan analysts. “One might say that this is to be expected, given that the…
G-7 Leaders Back ‘Important Role’ of Natural Gas in Confronting Energy Challenges
Heads of state from the Group of Seven (G7) economically advanced nations emphasized the need to “accelerate the phase out of our dependency on Russian energy” in a statement this weekend at the conclusion of a summit held in Hiroshima, Japan. Stressing “the global impact of Russia’s war on energy supplies, gas prices and inflation,…
Novatek Playing Key Role in Russia’s LNG Export Ambitions
Despite recent European Union (EU) proposals to ban Russian LNG exports to Europe, the country’s largest independent natural gas producer, PAO Novatek, has become a key player in the export market for Moscow. LNG exports from Novatek’s Yamal LNG in Russia’s Far North reached a record high in April, with 1.89 million tons (Mt) exported…
Global Natural Gas Demand Projected to Decline Through Remainder of Year, IEA Says
Global natural gas demand is expected to remain flat in 2023 with modest growth in the Asia-Pacific region offset by projected declines in Europe and North America, according to the International Energy Agency (IEA). The world’s natural gas consumption declined 1.5% year/year in 2022, driven largely by a sharp increase in prices after Russia invaded…
Lower Natural Gas Prices Ease Burden of Replacing Russian Supplies for Germany’s Uniper
Uniper SE recorded no losses in the first quarter related to replacing natural gas supplies that were cut off by Russia last year, and the company expects a “strong earnings recovery” after being bailed out by the German government in 2022. The steep decline in global gas prices since last year has eased the costs…
Despite Diminished Role, More Russian Natural Gas Could One Day Flow to Europe Again
More than a year after the invasion of Ukraine, it still remains unlikely that Russia will regain its role as the European Union’s (EU) leading natural gas supplier, but an eventual increase in the country’s exports to the continent isn’t out of the question. A top supplier to the EU, Russia exported about 140 billion…