Russia

Gazprom’s Plans for Reviving Russian Natural Gas Production Challenged by Financing, Competition

Gazprom’s Plans for Reviving Russian Natural Gas Production Challenged by Financing, Competition

Future prospects for Russia’s largest natural gas producer, Gazprom PJSC, are challenging as it works to outpace both foreign sanctions and domestic competition from independent firms. Unhappy over the Kremlin granting an LNG export license to Russia’s second largest natural gas producer, PAO Novatek, Gazprom told Russian regulator’s the Murmansk liquified natural gas project would…

October 20, 2023
Europe Continues to Lean Heavily on Russian LNG Imports

Europe Continues to Lean Heavily on Russian LNG Imports

Europe continues to rely on Russian LNG imports to compensate for the decline in pipeline deliveries from the country, despite calls to ban the super-chilled fuel.  For the first eight months of the year, Russian liquefied natural gas exports totaled 20.58 million tons (Mt), according to Kpler. The European Union’s (EU) 27 countries imported more…

September 21, 2023
Europe Again Tapping into Ukrainian Storage Capacity as Stocks Grow Elsewhere

Europe Again Tapping into Ukrainian Storage Capacity as Stocks Grow Elsewhere

Ukraine’s natural gas storage inventories are growing with European traders sending more supply to the country as stocks elsewhere on the continent are brimming.  Ukraine Energy Minister German Galushchenko said Wednesday on the social media platform Telegram that foreign traders had pumped 1.8 billion cubic meters (Bcm), or about 64 Bcf, into the country’s underground…

September 14, 2023
EU’s Joint Natural Gas Tender Platform ‘Exceeding Expectations,’ but Call for Transparency Continues

EU’s Joint Natural Gas Tender Platform ‘Exceeding Expectations,’ but Call for Transparency Continues

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…

July 31, 2023
Russia Still Counting on Asian Demand as Natural Gas Output, Exports Continue Falling

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…

July 24, 2023
India’s Cost-Sensitive Buyers Have Important Role to Play in LNG Spot Price Formation – Column

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.

July 19, 2023
Turkey Forging Ahead With Plans for Natural Gas Hub Less Reliant on Russia  

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…

June 30, 2023
Global Natural Gas Market Unfazed by Revolt in Russia – LNG Recap

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…

June 26, 2023
G-7 Leaders Back ‘Important Role’ of Natural Gas in Confronting Energy Challenges

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,…

May 22, 2023
Novatek Playing Key Role in Russia’s LNG Export Ambitions

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…

May 19, 2023