Ukraine’s storage contracts with western European gas traders are rising along with transported gas volumes despite Russia’s heightened campaign against the country’s energy infrastructure. As European Union storage has continued to outpace seasonal averages through the year, traders have been relying on Ukraine’s substantial underground storage facilities as a sink for the glut of liquefied…
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Developing Path for More Eastern Mediterranean Natural Gas to Reach Europe Could Take Years
Israel continues to review which transportation route is best to export natural gas to Europe, with a final decision on the path expected sometime next year. Israeli Prime Minister Benjamin Netanyahu recently met with Greek Prime Minister Kyriakos Mitsotakis and Cyprus’ President Nikos Christodoulides to discuss how to get more natural gas to Europe. Netanyahu…
Germany Seeking LNG Delivery Obligations to Ensure Security of Supply
Germany wants to secure the delivery of future LNG supply contracts for its floating storage and regasification units (FSRUs) with a contractual delivery obligation to guarantee security of supply for at least 50% of the capacity offered in a series of auctions starting next month. Many liquified natural gas supply contracts do not have a…
QatarEnergy Orders Another 17 LNG Tankers to Support Export Expansion
QatarEnergy has placed another large order for new LNG vessels as it continues to build out its shipping fleet ahead of a massive expansion in its liquefaction capacity that’s expected to come online later this decade. The state-owned company said Wednesday it has signed a deal worth $3.9 billion to have South Korea’s HD Hyundai…
IEA Says Natural Gas Supply Must Plunge 78% to Meet Climate Targets
New investments in onshore unconventional oil and gas projects may still be needed even if human-induced global warming is kept to 1.5 degrees C or less, but overall production would need to fall dramatically, the International Energy Agency (IEA) said Tuesday. To achieve the 1.5-degree target and reach net zero greenhouse gas (GHG) emissions globally,…
France Expected to Boost Europe’s LNG Imports with FSRU Arrival
The recent arrival of France’s first floating regasification and storage unit (FSRU) at the port of Le Havre comes as high gas stocks and a rebound in nuclear power output have limited the country’s need for natural gas. “Given the current healthy gas stock situation and improved nuclear availability in France, we would expect the…
Australia’s East Coast LNG Exports, Domestic Natural Gas Supply Forecast to Rise Early Next Year
Australia’s competition watchdog expects a slight natural gas supply surplus for domestic markets early next year, but the supply balance remains tight as LNG exports from the East Coast are expected to rise. In the Australian Competition & Consumer Commission’s (ACCC) outlook for 1Q2024, researchers reported the east coast gas market should have a 1.4…
Global Market Increasingly Buying Volumes at Prices Linked to Natural Gas Hubs, IGU Says
Natural gas buying at prices linked to dominant benchmarks like Henry Hub, the Japan-Korea Marker and the Dutch Title Transfer Facility hit record levels last year as buyers scrambled to secure supplies amid one of the worst energy crises in decades, according to the International Gas Union (IGU). The increase in global gas-on-gas competition (GOG)…
Europe Continues to Lean Heavily on Russian LNG Imports
Europe continues to rely on Russian LNG imports to compensate for the decline in pipeline deliveries from the country, despite calls to ban the super-chilled fuel. For the first eight months of the year, Russian liquefied natural gas exports totaled 20.58 million tons (Mt), according to Kpler. The European Union’s (EU) 27 countries imported more…
Future of Canada’s Natural Gas, Oil Industry Debated by National, Alberta Leaders
Canadian leaders traded barbs on Monday about the future of the nation’s natural gas and oil at international conferences in Calgary and in New York City At the World Petroleum Conference in Calgary, Alberta Premier Danielle Smith repeated a vow to cut greenhouse gas (GHG) emissions but said the province’s gas and oil production was…