International

German Utility EnBW Considers Buying LNG from Proposed European Import Hub

German Utility EnBW Considers Buying LNG from Proposed European Import Hub

German utility EnBW Energie Baden-Württemberg AG could buy natural gas from a proposed import terminal in the country near Stade after committing to shunning supplies from Russia. EnBW signed a memorandum of understanding with the developer Hanseatic Energy Hub to possibly buy 3 billion cubic meters/year (Bcm/y) of liquefied natural gas (LNG) after it ramps…

April 5, 2022
Nymex Futures Falter, but $6.00 Natural Gas ‘Potentially in Play’ in Coming Days

Nymex Futures Falter, but $6.00 Natural Gas ‘Potentially in Play’ in Coming Days

Natural gas futures treaded water early Monday as traders looked for fresh direction amid the continued war in Ukraine. After spending much of the afternoon in positive territory, a trio of bearish headwinds eventually left the May Nymex contract nearly unchanged at $5.712/MMBtu. June also barely budged, off two-tenths of a cent to $5.793. Spot…

April 4, 2022
Gazprom Tells European Natural Gas Customers to Pay in Rubles

Gazprom Tells European Natural Gas Customers to Pay in Rubles

Gazprom PJSC said Friday it has sent notifications to certain customers requiring payments for natural gas be made in rubles. The state-owned company, Russia’s largest natural gas producer, said on the messaging service Telegram that it was complying with a decree from President Vladimir Putin requiring “unfriendly countries” in Europe to pay in rubles after…

April 1, 2022
More Competition, Expansion Expected for Asian LNG Market On Brink of Change

More Competition, Expansion Expected for Asian LNG Market On Brink of Change

Asian buyers and distributors of liquefied natural gas (LNG) are seeing a mix of changes and challenges on the horizon for the region as they work to develop a more connected and flexible market ecosystem. Asia has historically been a favored destination of the super-chilled fuel, but as key players in the industry diversify their…

March 31, 2022
Germany Warns of Possible Russian Natural Gas Supply Cuts, Sending European Prices Higher

Germany Warns of Possible Russian Natural Gas Supply Cuts, Sending European Prices Higher

Germany on Wednesday triggered the first level of its emergency plan for natural gas as Russia continues with mixed messaging about whether it could require payment in rubles for deliveries to Europe. Germany’s Federal Ministry for Economic Affairs and Climate Action took a precautionary step and initiated the first early warning level of its emergency…

March 30, 2022
Calfrac Suspends Russian Oil, Gas Completions, Halts Equipment Sales

Calfrac Suspends Russian Oil, Gas Completions, Halts Equipment Sales

Calgary-based completions expert Calfrac Well Services Ltd. has suspended its work in Russia’s oil and natural gas fields in response to its invasion of Ukraine and the trade sanctions imposed by Western nations, including Canada. The oilfield services (OFS) company, which chiefly works in Canada and the United States, also works in Argentina.  Calfrac’s Russian…

March 29, 2022
Canada Stalls Approval of $12B Equinor Offshore Oil Development

Canada Stalls Approval of $12B Equinor Offshore Oil Development

As Europe seeks replacements for Russian oil, the Canadian government has withheld approval of a $12 billion supply project led by Norwegian producer Equinor ASA offshore of Newfoundland. A week after the Russian invasion of Ukraine began on Feb. 24, the Liberal federal cabinet in Ottawa announced its second 40-day postponement of a decision on…

March 29, 2022
Germany Looks to Cut Russian Natural Gas Supply Swiftly, Import LNG by 2023

Germany Looks to Cut Russian Natural Gas Supply Swiftly, Import LNG by 2023

Chancellor Olaf Scholz’s pledge for Germany to become independent from Russian energy imports “as soon as possible” is said to be supported by ambitious plans, including starting liquefied natural gas (LNG) imports by 2023.  Germany’s Economy and Climate Minister Robert Habeck said at a recent news conference that one of Europe’s largest energy-consuming nations is…

March 29, 2022
Plan to Send More U.S. LNG to Europe Met With Optimism by Natural Gas Industry

Plan to Send More U.S. LNG to Europe Met With Optimism by Natural Gas Industry

The oil and natural gas industry praised the Biden administration’s announcement last week of a joint U.S.-European Union (EU) task force to increase liquefied natural gas (LNG) supply to Europe. The White House said it would seek to expedite approvals of pending LNG export projects, a move long advocated by the industry, in order to…

March 28, 2022
Aramco Aiming to Boost Oil, Natural Gas Output, Build Hydrogen and CCS Market

Aramco Aiming to Boost Oil, Natural Gas Output, Build Hydrogen and CCS Market

State-owned Saudi Arabian Oil Co., aka Aramco, scored lucrative profits in 2021, which are set to fuel its standing as an even more consequential player in the global oil and natural gas markets over the next decade. Aramco, owned by the Saudi royal family, said profits climbed 124% year/year. The gains came from strong oil…

March 26, 2022
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