China, the world’s largest buyer of LNG, is reselling the super-chilled fuel to Europe and Asia as an economic slowdown and a boost in Russian gas supplies have created surplus inventories. In 2021, Chinese gas demand grew at the fastest rate on record, when year/year imports increased by 19.9%, according to the Middle East Institute…
Russia
Articles from Russia
East Asia, TTF Prices Fall After Rally, With Some LNG Buying Deferred
The extended closure of the Nord Stream 1 pipeline from Russia to Germany caused a major rise in TTF prices on Monday and a similar reaction for East Asian spot LNG prices.
September 9, 2022
OPEC-Plus to Cut Output as West Seeks to Cap Russian Crude Prices
OPEC and its Russian allies, on Monday agreed to reduce global crude oil output by 100,000 b/d in October, in what the Saudi-led cartel said was a proactive move to stabilize the market. At the monthly ministerial meeting, the cartel noted the “adverse impact of volatility and the decline in liquidity on the current oil…
September 6, 2022
TTF Hits Record Highs Before Crashing on EU Intervention Plan, High Storage
The ICIS TTF price scaled new heights last week before plummeting this week, setting the tone for erratic Asian spot price movements.
September 2, 2022
Russian LNG Projects Face Continued Uncertainty as Kremlin Consolidates Control
President Vladimir Putin’s latest decree to stop sales of Russian energy assets, leaves the status and progress of Russia’s liquefied natural gas (LNG) projects in disarray. The decree takes full control of the 9.6 mmt/y Sakhalin-2 project in Russia’s far east. Shell plc has already said it plans to divest its 27.5% stake in the…
August 23, 2022
Henry Hub Futures Encroaching on $10 Mark Early Amid Euro Supply Worries
Sympathetic to spiking European prices amid constraints on imports from Russia, domestic natural gas futures were soaring in early trading Monday. As of around 8:55 a.m. ET, the September Nymex contract was up 53.5 cents to $9.871/MMBtu. Surging Dutch Title Transfer Facility (TTF) prices in Europe, driven by supply fears amid tensions over the Russian…
August 22, 2022
Oman Aiming to Boost LNG Output as Asian Sales Grow
Oman and Iran have agreed to revive an offshore pipeline project that would see Iranian natural gas exported via Oman’s LNG facilities, which have been working to boost capacity amid strong global demand. The agreement followed a meeting earlier this summer between Iranian oil minister Javad Owji and Omani energy minister Mohammed al-Rumhy in Muscat. …
August 16, 2022
Liberty Energy’s Wright Sees Long Oil, Natural Gas Future as ‘Energy Transition Is Not Happening’
Liberty Energy Inc. CEO Chris Wright made no bones about prognosticators calling for the demise of oil and natural gas on Monday. “The energy transition is not happening,” he said in Denver. “This drumbeat is crazy.” Wright, speaking at the LDC Gas Forum Rockies & West, said demand for fossil fuels is robust and poised…
August 16, 2022
OPEC-Plus Dashes Biden’s Production Hike Hopes; U.S. Output Holds Even
OPEC-Plus, the consortium of global oil producers led by Saudi Arabia in partnership with Russia, agreed on Wednesday to only a modest increase in production next month. The decision suggests the cartel is focused more on the specter of declining demand amid recession warnings than on U.S. President Biden’s plea for greater output to address…
August 3, 2022
August Natural Gas Futures Lose Momentum Heading into Expiry; Bull Case Intact
August Nymex natural gas futures faltered Wednesday, snapping a furious rally that dated to last week amid robust cooling demand and global supply worries. The prompt month gas futures contract settled at $8.687/MMBtu, down 30.6 cents day/day. September fell 27.1 cents to $8.554. At A Glance: Nymex gas trading proves volatile Weather-driven demand holds strong…
July 27, 2022
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