International

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…

Argentine national oil company YPF SA has raised its capital expenditure (capex) forecast for full-year 2022, with a focus on developing the Vaca Muerta Shale formation. New CEO Pablo Iuliano and CFO Alejandro Lew hosted a conference call to discuss the 51% state-owned company’s second-quarter results. “Better-than-expected economic performance so far in 2022 enhanced our…

Russia’s Gazprom PJSC announced plans to halt flows of natural gas to Europe through the Nord Stream 1 (NS1) system at the end of the month as the continent closes out its most volatile market week since March. The state-controlled firm disclosed Friday flows on NS1 would be closed from Aug. 31 to Sept. 2…

As concerns for securing winter supply continue to mount, the European gas benchmark TTF toppled new all-time highs this week.

Marine bunkering specialist Avenir LNG is looking to progress its terminal strategy and help Sweden decarbonize industrial sectors with a proposed natural gas import project. A memorandum of understanding (MOU) with Sweden’s Oxelösunds Hamn AB could advance a liquefied natural gas import terminal. The Port of Oxelösund facility as proposed would allow customers to import…

Underinvestment in oil and natural gas supply could threaten global energy security and decarbonization efforts over the coming years, according to the CEO of Saudi Arabia’s state-owned oil behemoth.  Saudi Arabian Oil Co. (Aramco) CEO Amin Nasser hosted a conference call to discuss the national oil company’s (NOC) record-breaking first-half results. “Oil demand is likely…

India, Pakistan and Bangladesh are looking to buy LNG in an extremely tight market as top Asian buyers Japan and South Korea have come out to cover their winter requirements. “While global markets have been focused on Europe and the supply dynamics there, the unintended consequences of energy sanctions on Ukraine are weighing heavily on…