International

European, Asian LNG Prices Stay High Amid Low Russian Gas Flows

European, Asian LNG Prices Stay High Amid Low Russian Gas Flows

SINGAPORE (ICIS) –Spot LNG prices in Asia and gas prices in Europe remain high on tight supply. The ICIS TTF September ’22 contract price reached $61.02/MMBtu on 2 August, the second highest on record after 8 March.

August 5, 2022
UK, Centrica Look to Restart Rough Natural Gas Storage Facility

UK, Centrica Look to Restart Rough Natural Gas Storage Facility

The UK is looking to restart what once was the country’s largest natural gas storage facility, but it may not be in time for the coming winter. Great Britain’s largest energy supplier, Centrica plc, was awarded a gas storage license by the North Sea Transition Authority to reopen the Rough storage site off the eastern…

August 4, 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
Australian LNG Producers Face Prospect of Diverting Exports to Meet East Coast Supply Shortfall

Australian LNG Producers Face Prospect of Diverting Exports to Meet East Coast Supply Shortfall

Australia should divert LNG exports to meet a domestic gas supply shortfall on the east coast next year, the Australia Competition and Consumer Commission (ACCC) said in its latest  report. Australia’s east coast gas market is expected to have a shortage of 56 petajoules (PJ) next year, or about 10% of domestic demand, according to…

August 3, 2022
OPEC-Plus Dashes Biden’s Production Hike Hopes; U.S. Output Holds Even

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
Uptick in Asian LNG Competition Adds to Europe’s Restocking Pressure Before Winter

Uptick in Asian LNG Competition Adds to Europe’s Restocking Pressure Before Winter

As Europe tries to meet winter storage goals with further restricted flows of Russian natural gas volumes, Asian LNG prices are on the rise again as buyers from the region add pressure to an already tight global market. Since before Russia’s February invasion of Ukraine, European buyers have been swaying cargoes of liquefied natural gas…

August 2, 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
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
August Natural Gas Futures Lose Momentum Heading into Expiry; Bull Case Intact

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
Gazprom Natural Gas Production Drops Sharply as Russia Squeezes European Supplies

Gazprom Natural Gas Production Drops Sharply as Russia Squeezes European Supplies

Gazprom PJSC’s natural gas production has dropped 10.4% since January, dragged down by a steep cut in pipeline exports to Europe, which have fallen by 33.1% so far this year. The company has boosted exports to China.  Russia produced 249.7 billion cubic meters (Bcm) between Jan. 1 and July 15, down by 29.1 Bcm compared…

July 27, 2022
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