Ukraine-Russia Crisis

NS1 Natural Gas Exports to Europe, UK Hit Lowest Level in Nearly 40 Years

NS1 Natural Gas Exports to Europe, UK Hit Lowest Level in Nearly 40 Years

Russia’s natural gas exports to the European Union (EU) and UK plummeted during the first seven months of the year, hitting their lowest point in decades on one route last month, the Energy Information Administration (EIA) said this week, citing data from Refinitiv Eikon. The decline between January and July comes as no surprise as…

August 10, 2022
Italy’s Eni Stems Falling Natural Gas Sales with LNG, Production Agreements

Italy’s Eni Stems Falling Natural Gas Sales with LNG, Production Agreements

Italy’s Eni SpA expects to beat previous guidance on new exploration volumes and continue its pace of securing new natural gas sources for European markets as it seeks to reverse the hit its LNG and European gas marketing businesses took in the second quarter. The Rome-based supermajor, majority-owned by the Italian government, has been focusing…

August 3, 2022
European Natural Gas Prices Climb as Fears Grow Over Russian Supplies – LNG Recap

European Natural Gas Prices Climb as Fears Grow Over Russian Supplies – LNG Recap

European natural gas prices surged again on Monday as Russia ratcheted up tensions by cutting off supply to another customer and the Kremlin sowed further doubts about equipment needed to boost flows on Nord Stream 1 (NS1).  Gazprom PJSC said Saturday that it has stopped delivering natural gas to Latvia “due to violation of the…

August 1, 2022
TotalEnergies ‘Mobilizing’ Resources to Fill Natural Gas, Energy Shortfalls in Europe

TotalEnergies ‘Mobilizing’ Resources to Fill Natural Gas, Energy Shortfalls in Europe

TotalEnergies SE boosted its energy output in the second quarter to help fill the shortfall in Russian oil and natural gas supplies, reaping the benefits of soaring commodity prices in the process. “Russia’s invasion of Ukraine continued to impact energy markets in the second quarter, with oil prices averaging more than $110/bbl in the quarter,…

August 1, 2022
European Natural Gas, Asian LNG Prices Soar on NS1 Supply Cuts

European Natural Gas, Asian LNG Prices Soar on NS1 Supply Cuts

LONDON (ICIS) — Russia stepped up its curtailment of gas flows to Europe this week, in a move designed to be the dominating factor in the market. The impact was palpable as the ICIS TTF front-month gas price, the global benchmark, rose by 30% over the last seven days, with little indication of a significant fall back as long as current market conditions persist.

July 29, 2022
Norwegian Natural Gas Output Surging, with Eyes on Aiding European Shortfall

Norwegian Natural Gas Output Surging, with Eyes on Aiding European Shortfall

Norway plans to increase natural gas production through the summer to help meet European Union (EU) demand and fill the void left by declining Russian deliveries.   Equinor ASA said its Norwegian exports to the rest of Europe increased by 18% year/year in the second quarter. Norway is Europe’s second largest gas supplier behind Russia, which…

July 28, 2022
Russia’s NS1 Cuts Leave Europe Tight on Natural Gas, Likely Short of Storage Goals

Russia’s NS1 Cuts Leave Europe Tight on Natural Gas, Likely Short of Storage Goals

Further cuts of Russian natural gas pipeline volumes to Europe could be casting shadow on the European Union’s (EU) ambitious winter storage goals as governments on the continent warn of impending shortfalls. Russia’s Gazprom PJSC cut natural gas deliveries on Nord Stream 1 (NS1) to 20% of capacity Wednesday, blaming overdo maintenance on turbines feeding…

July 28, 2022

European Natural Gas Prices Surge to Highest Levels Since March – The Offtake

European natural gas prices continued their charge higher Tuesday, hitting levels not seen since March. The prompt Title Transfer Facility contract surged by 13% to settle above $59/MMBtu.

July 26, 2022
Germany to Take Major Stake in Giant Natural Gas Supplier Uniper Under Bailout Deal

Germany to Take Major Stake in Giant Natural Gas Supplier Uniper Under Bailout Deal

The German government has agreed to take a 30% stake in Uniper SE with a capital infusion to bailout the giant utility, which has suffered from natural gas supply cuts and soaring prices. Uniper’s CEO Klaus-Dieter Maubach said the deal would preserve the company’s “system-critical” role for Germany’s energy supply. The country is the largest…

July 22, 2022
Nord Stream 1 Resumes Natural Gas Deliveries to Europe, but Supply Risks Remain High

Nord Stream 1 Resumes Natural Gas Deliveries to Europe, but Supply Risks Remain High

Natural gas started flowing to Europe again on the Nord Stream 1 (NS1) pipeline Thursday after 10 days of maintenance, but flows could be cut further if key equipment to run the system at a higher capacity is not returned by next week. Nord Stream AG said it successfully completed annual maintenance on the system.…

July 21, 2022
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