International

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 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.…

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…

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…

Click here to listen to the latest episode of NGI’s Hub & Flow, as NGI’s Patrick Rau, director of strategy and research, discusses the structural changes in the U.S. natural gas market. Rau takes a deep dive into the massive upheaval in the markets from tight supply/demand fundamentals, international developments and policy changes in the…

President Vladimir Putin’s latest decree to stop sales of Russian energy assets, leaves the status and progress of Russia’s liquefied natural gas (LNG) projects in disarray.  The decree takes full control of the 9.6 mmt/y Sakhalin-2 project in Russia’s far east. Shell plc has already said it plans to divest its 27.5% stake in the…

With anxiety mounting over another halt to the flow of Russian natural gas to Europe, Ukraine is continuing its push to fill the void for energy-starved countries as market volatility appears to be impacting their ability to import U.S. LNG. On Friday, Russia’s Gazprom PJSC disclosed its Nord Stream 1 (NS1) pipeline system would halt…

Italy’s Eni SpA and Paris-based TotalEnergies on Monday said they made a major natural gas discovery at the Cronos-1 well, in Block 6, offshore Cyprus. Located about 100 miles southwest of the Cyprus coast, Cronos-1 “encountered several good quality carbonate reservoir intervals and confirmed overall net gas pay of more than 260 meters,” TotalEnergies said.…

Natural gas prices surged Monday in Europe on intensifying concerns that Russia’s plan to close the Nord Stream 1 (NS1) pipeline could cripple the continent’s ability to store enough fuel to meet heating needs in the coming winter. U.S. futures followed suit. Russia’s Gazprom PJSC late Friday said it would halt gas flows to Europe…