Russia

The sharp upturn in energy demand, which has escalated since Russia invaded Ukraine, has created a big opening for Chevron Corp. to ramp up once again in the massive Permian Basin and ponder whether it’s time to invest in U.S. liquefied natural gas (LNG), CEO Mike Wirth said Friday. In sharing the 1Q2022 results, Wirth…

TotalEnergies SE said Thursday it hasn’t ruled out exiting Russia entirely, a move management said would not disrupt the significant growth seen in the firm’s liquefied natural gas (LNG) operations.  The Paris-based supermajor again condemned Russia’s invasion of Ukraine during its first quarter earnings call. Management announced after the incursion that it would provide no…

European sanctions are having a “direct impact” to complete services for Russia’s Arctic LNG 2, a major liquefied natural gas (LNG) project in the Far North of the country, Technip Energies’ CEO said Monday. Since Russia’s invasion of Ukraine in February, the European Union (EU) has imposed a series of sanctions. They include barring delivery…

U.S. natural gas prices declined this week following a rally that saw the Henry Hub contract hit a 13-year high of $8.065/MMBtu on Monday (April 18). Prices fell as traders took profit, but they could rebound on cold early next week and the “impending May contract expiration,” according to EBW Analytics Group. The May contract closed at $6.534 on Friday.

Italy’s Eni SpA is expanding partnerships and exploration in some of its existing territories in order to boost natural gas deliveries to Europe. Eni announced it is working closely with the state-owned Egyptian Natural Gas Holding Co. to increase gas production and liquefied natural gas (LNG) exports from the country, with a specific target of…

The Netherlands will rely on increasing liquefied natural gas (LNG) imports instead of counting on domestic gas production from the Groningen field to help replace Russian imports.    The Dutch government has decided against increasing output from Groningen, which was under consideration as a way for Europe to refill natural gas storage and displace Russian supplies. …

Oil and natural gas prices fell across the globe Tuesday, pushed lower by a variety of factors including demand destruction in Asia, bearish sentiment in Europe and a cooling rally in the United States.  European natural gas prices hit their lowest level since Russia invaded Ukraine in February. The May Title Transfer Facility contract hit…

Leaders of Baltic nations and their partners in the regional gas market have been increasingly signaling an end to Russian gas imports in support of a besieged Ukraine, but one of the area’s gas importers is raising red flags. A/S Latvijas Gāze, a Latvian importer and trader of natural gas, released a statement April 13…

Russia’s liquefied natural gas (LNG) exports remained strong in March and surpassed year-ago levels despite efforts by some buyers to curb purchases from the pariah state. Russian LNG exports increased by 19% year/year to 3.1 million tons (Mt) last month, according to shipbroker Banchero Costa. Shipments from the country were also 25% higher than they…