U.S., European and Asian natural gas prices soared this summer amid enduring global demand and worries about strained supplies. Western Canadian prices, in contrast, collapsed. What gives? Just as Canadian producers bolstered output to pandemic-era highs to help meet global demand this summer, a series of pipeline restrictions cut into takeaway capacity. Unplanned outages and…
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Gazprom Curbs Natural Gas Deliveries to France – The Offtake
Gazprom PJSC has reduced gas deliveries to France due to a disagreement over contracts, Engie SA said Tuesday.
West Texas Natural Gas Increasingly Flowing to Mexico
U.S. natural gas exports to Mexico via West Texas are once again heading upward this year, according to analysis by the U.S. Energy Information Administration (EIA). Exports from West Texas “have grown steadily in recent years, doubling from 0.6 Bcf/d in 2019 to 1.2 Bcf/d in 2021 as more connecting pipelines in Central and Southwest…
Amid Controversy, TotalEnergies to Unload Stake in Russian Natural Gas Field
Paris-based TotalEnergies SE agreed to sell its 49% interest in a Siberian natural gas field to Russian partner PAO Novatek. The sale followed reports that the gas project produced fuel for Russian military aircraft used to advance the Kremlin’s invasion of Ukraine. The French energy giant said Friday it expects the sale of its stake…
Canada Invokes Pipeline Treaty to Prevent Shutdown of Enbridge Oil System
The Canadian government has invoked an international treaty with the United States to avoid a possible distribution of Enbridge Inc.’s Line 5 oil pipeline in the latest chapter of a tribal suit against the company. Federal Foreign Affairs Minister Melanie Joly activated the 1977 Pipeline Transit Treaty to enforce the treaty’s ban against agencies in…
International Policy Experts Warn LNG Industry Support Needed in ‘Two-Front Gas War’
International energy experts from Rice University’s Baker Institute suggest the United States could face intense economic and geopolitical fallout this winter and in winters to come without support for the LNG industry currently aiding Europe. In a recently published paper from the institute, “U.S. Needs LNG to Fight a Two-Front Gas War,” the authors posit…
European Power Prices Skyrocket as Natural Gas Supply Fears Keep Driving Records
The cost of electricity has surged to record highs across Europe, following a meteoric rise in natural gas prices that could pave the way for painfully high consumer rates across the continent through the winter and well beyond. Electricity futures across much of the continent jumped above 600 euros/MWh last week, an exponential gain from…
Natural Gas Futures Take Breather After On-Target EIA Data; California Heat Drives Up Cash
Natural gas futures were unusually quiet on Thursday, bobbing in and out of positive territory as the latest government inventory data offered no surprises and moved the needle only slightly on storage deficits. The September Nymex gas futures settled at $9.375/MMBtu, up 4.5 cents from Wednesday’s close. October futures ticked up 4.4 cents to $9.344.…
European Natural Gas Crisis Spills Into Power Markets as Prices Hit Record Highs
The cost of electricity has surged to record highs across Europe this week, following a meteoric rise in natural gas prices that could pave the way for painfully high consumer rates across the continent through the winter and well beyond. Electricity futures across much of the continent jumped above 600 euros/MWh this week, an exponential…
Eni Nearing First LNG Exports from Coral-Sul Project in Mozambique
Mozambique could soon export its first LNG from the Eni SpA-operated Coral-Sul Floating LNG (FLNG) facility offshore Mozambique’s northern coastline, as an LNG tanker is sailing to the facility to load the first cargo. The British Mentor was floating in the Mozambique Channel on Thursday, just south of the Comoro Islands, according to ship-tracking data…