Ukraine-Russia Crisis

EU Leaders Unveil ‘Safety Ceiling’ to Protect Against Volatile Natural Gas Price Swings

EU Leaders Unveil ‘Safety Ceiling’ to Protect Against Volatile Natural Gas Price Swings

The European Commission (EC) has proposed a bloc-wide ceiling on natural gas prices linked to Europe’s benchmark in an effort to stanch massive financial volatility, potentially sending ripple effects across global gas markets. In a proposal outlined by the European Union’s (EU) executive branch Tuesday, the Commission could institute a “safety price” mechanism by the…

November 22, 2022

Nord Stream Operator Gains Access to Survey Ruptured Pipelines – The Offtake

Nord Stream AG, operator of the Nord Stream 1 and Nord Stream 2 natural gas pipeline systems, has been granted access in the security zones around the ruptured lines.

November 14, 2022
Eni Moves to Replace Russian Natural Gas Imports as High Prices Sustain Profits

Eni Moves to Replace Russian Natural Gas Imports as High Prices Sustain Profits

Italy’s Eni SpA saw its natural gas sales drop by almost a quarter in the third quarter of 2022 compared to year-prior levels, but soaring commodity prices led it to another high profit period as it progresses efforts to replace Russian imports and optimize its LNG business. The firm’s natural gas sales plummeted during the…

November 8, 2022
Uniper Sees LNG as Stabilizing Force After Record Losses from Russian Natural Gas Curtailment

Uniper Sees LNG as Stabilizing Force After Record Losses from Russian Natural Gas Curtailment

Germany’s Uniper SE reported record losses from January to September as it was battered by Russia’s curtailment of natural gas volumes, but management said the firm is on a path to stability with LNG as a stepping stone. Uniper, Germany’s largest importer of Russian gas, has been navigating a geopolitical and economic crisis since before…

November 4, 2022
Europe Faces 1 Tcf Natural Gas Shortfall Next Winter, IEA Warns

Europe Faces 1 Tcf Natural Gas Shortfall Next Winter, IEA Warns

Europe could face a 30 billion cubic meter (Bcm) natural gas shortfall for the 2023-2024 winter if the European Union (EU) doesn’t start planning ahead now, the International Energy Agency (IEA) said in a report released Thursday. That’s the equivalent of about 1 Tcf of natural gas. And even though European gas storage facilities are…

November 4, 2022
Cheniere Energy Again Hit by Volatile LNG Prices Despite Record Output

Cheniere Energy Again Hit by Volatile LNG Prices Despite Record Output

Cheniere Energy Inc. continues to deliver increasing volumes of LNG and said Thursday its production hit a record last week, but the company reported a steep third quarter loss related to the purchase of feed gas at prices linked to international benchmarks. CEO Jack Fusco said liquefied natural gas output at the company’s terminals in…

November 3, 2022

Nord Stream Operator Says Devices Made Massive Craters Along Natural Gas System – The Offtake

Nord Stream AG disclosed Wednesday it has discovered craters 10-16 feet deep along Line 1 of its natural gas pipeline system previously used to transport Russian supplies to Europe

November 2, 2022
LNG Vessels Floating Offshore Europe Multiplying as Customers Stash Natural Gas Before Winter

LNG Vessels Floating Offshore Europe Multiplying as Customers Stash Natural Gas Before Winter

An unprecedented number of LNG vessels are floating offshore Europe as regasification terminal congestion and whipsawing prices further complicate the supply situation. At least 22 ships loaded with liquefied natural gas had been moored on Wednesday for more than five days around European regasification hubs, according to data from Kpler. The majority of the ships…

October 20, 2022
IEA Adds Another Warning to World About Europe’s Long-Term Natural Gas Supply Woes

IEA Adds Another Warning to World About Europe’s Long-Term Natural Gas Supply Woes

Moderating prices and favorable storage data do not tell the whole story of Europe’s natural gas status heading into winter, International Energy Agency (EIA) Executive Director Fatih Birol said, citing Russia and fallout from its protracted war in Ukraine. Following recent meetings with European leaders – including Czech Prime Minister Petr Fiala, Finnish Prime Minister…

October 20, 2022
In A First, France Exports Natural Gas to Germany in Energy Solidarity Pact

In A First, France Exports Natural Gas to Germany in Energy Solidarity Pact

France started exporting natural gas to Germany for the first time this week as the two European nations try to work more closely to replace energy supplies cut by Russia.  French transmission system operator GRTgaz said Thursday initial daily deliveries of 31 GWh, or roughly 105.7 MMcf/d, are being delivered to Germany via an interconnection…

October 13, 2022
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