Ukraine-Russia Crisis

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…

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…

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…

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…

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

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…

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…

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…

The consortium of oil-producing countries known as OPEC-Plus spurred rare bipartisanship in the U.S. capital after the cartel said it would slash crude production. The group said last week its decision to cut output by 2 million b/d in November was in response to global recessionary headwinds and threats to demand. But Washington lawmakers on…