Russia

Global Natural Gas Demand Projected to Decline Through Remainder of Year, IEA Says

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…

May 15, 2023
Lower Natural Gas Prices Ease Burden of Replacing Russian Supplies for Germany’s Uniper

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…

May 8, 2023
Despite Diminished Role, More Russian Natural Gas Could One Day Flow to Europe Again 

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…

April 28, 2023
G7 Leaders Leave Door Open to New Natural Gas Investments

G7 Leaders Leave Door Open to New Natural Gas Investments

Energy and environment ministers from the Group of Seven (G7) economically advanced nations, including the United States, agreed to ramp up electricity generated by renewable energy sources to accelerate the transition away from fossil fuels. Yet the ministers, recognizing global demand shifts amid Russia’s war in Ukraine and the particular energy needs of meeting host…

April 17, 2023
What Risks Still Lurk for Global Natural Gas Markets This Year? – Listen Now to NGI’s Hub and Flow

What Risks Still Lurk for Global Natural Gas Markets This Year? – Listen Now to NGI’s Hub and Flow

Click here to listen to the latest episode of NGI’s Hub & Flow podcast. NGI’s Jacob Dick, associate editor of LNG, talks with Ira Joseph, global fellow with Columbia University’s Center on Global Energy Policy, about the global LNG price risks that are still abound despite a relatively calm winter. Europe’s rush to replace Russian…

April 17, 2023

Russia Approves Sale of Shell’s Stake in Sakhalin-2 LNG Plant – The Offtake

A roundup of news and commentary from NGI’s LNG Insight Russian President Vladimir Putin approved the sale of Shell plc’s stake in the Sakhalin-2 LNG plant to PAO Novatek for $1.16 billion. Last year, Putin ordered Russia to take over the ownership rights from a partnership between Shell, Gazprom PJSC and Japanese trading houses Mitsui…

April 13, 2023
U.S. Oil Production Flattens as Saudi Arabia, Russia Cut Output

U.S. Oil Production Flattens as Saudi Arabia, Russia Cut Output

U.S. exploration and production (E&P) firms kept crude output even last week amid an uncertain demand outlook and expectations for steep cuts to global supplies. E&Ps produced 12.2 million b/d for the week ended March 31, according to the U.S. Energy Information Administration’s (EIA) Weekly Petroleum Status Report (WPSR) on Wednesday. The result was flat…

April 5, 2023
Iran Faces Uphill Battle in Push to Revive LNG Export Projects

Iran Faces Uphill Battle in Push to Revive LNG Export Projects

Despite holding the world’s second largest natural gas reserves and having Russia as a new partner, Iran faces challenges to revive one of its three LNG export projects. Iran, the world’s third largest gas producer, shares the giant North Dome/South Pars field with Qatar, but it has fallen far behind in developing its reserves to…

March 29, 2023
Russia Wants to Triple LNG Exports by Opening More of Its Natural Gas Fields

Russia Wants to Triple LNG Exports by Opening More of Its Natural Gas Fields

Russia aims to nearly triple LNG exports to 100 million metric tons/year (mmty) by 2030 by expanding the list of natural gas fields allowed to export the super-chilled fuel, Prime Minister Mikhail Mishustin said in a televised government meeting earlier this month. Draft amendments aimed at achieving that goal would “legally free up reserves for…

March 22, 2023
U.S. Crude Production Steady But Off 2023 Peak; Russia Pulls Back

U.S. Crude Production Steady But Off 2023 Peak; Russia Pulls Back

American exploration and production firms’ (E&P) continued to drive oil output at strong levels over the last two weeks, though activity slipped from the highs of the year. E&Ps generated 12.2 million b/d for the week ended March 10, even with the prior week, according to the U.S. Energy Information Administration’s (EIA) Weekly Petroleum Status…

March 15, 2023