International

Although a stranded one, Spain’s natural gas market became a European hub years ago. Since then, the Spanish market has evolved to hold a unique role in the global market, but it’s worth noting that its position was largely carved by how the country adapted to the Great Recession.

Canada’s largest natural gas producer, Tourmaline Oil Corp., said it has increased its exposure to global LNG pricing through two agreements to supply gas to units of commodity trading giant Trafigura Group Pte. Ltd. The first deal is a netback agreement linked to the Japan-Korea Marker (JKM). The deal is based on 62,500 MMBtu/d, or…

Asian spot LNG prices reached a seven month low in January, dropping below $10/MMBtu, bringing cost-sensitive buyers like Bangladesh, India, Pakistan and Thailand back to the spot market. High gas storage levels in Europe have pushed prices there lower and prompted liquefied natural gas sellers to turn their attention to Asia.  Asia-Pacific “demand will continue…

Energy majors and commodities traders are playing an outsized role in supporting a global LNG export buildout that ultimately could saturate the market with the super-chilled fuel later this decade, bring prices down and stoke future demand. About 150 million metric tons/year (mmty) of additional liquefaction capacity is under construction across North America and in…

A bitter cold snap gripping much of Europe wasn’t enough Monday to sustain a three-day rally in natural gas prices there as strong imports have kept the continent well supplied.  Title Transfer Facility prices fell across the curve Monday, when the prompt month closed 9% lower to finish near $10/MMBtu. Prices jumped last week ahead…

Shell plc’s Integrated Gas trading arm, which includes global LNG, is expected to report “significantly higher” sequential results for the final three months of 2023 “due to seasonality and increased optimization opportunities.” The London-based major on Monday provided an update of its projected fourth quarter results, with solid operations from the world’s No. 1 liquefied…

A 7.6-magnitude earthquake that hit western Japan continued to have little impact on the country’s natural gas demand and Asian natural gas prices on Wednesday. Two coal-fired power plants were closed and some gas-fired generation had been reduced in the Noto region after the quake hit Monday. The Naoetsu LNG import facility was briefly shut…

Natural gas prices worldwide have continued to edge down as lagging winter weather and abundant storage win out over increasing risks in the Middle East and earthquakes in Japan. Gas markets were relatively muted Tuesday despite a New Year’s Day tremor that impacted Japan, the world’s second largest LNG buyer. The 7.6 magnitude quake originated…

Eni SpA said Thursday that it has introduced natural gas to the Republic of Congo’s first LNG project.  Eni said it introduced first gas to the Tango floating liquefied natural gas (FLNG) facility offshore of the central African country just a year after a final investment decision was reached on Congo LNG. The project utilizes…