International

The German government has agreed to take a 30% stake in Uniper SE with a capital infusion to bailout the giant utility, which has suffered from natural gas supply cuts and soaring prices. Uniper’s CEO Klaus-Dieter Maubach said the deal would preserve the company’s “system-critical” role for Germany’s energy supply. The country is the largest…

Australia’s largest independent natural gas and oil producers honed in on optimizing value for LNG exports and progressing gas field development projects in the second quarter while navigating domestic supply shortages. The recently renamed Woodside Energy Group Ltd. and Santos Ltd. both reported continued elevated pricing for liquefied natural gas (LNG) despite demand destruction in…

HOUSTON (ICIS) – Asia spot LNG prices have fallen this week, with the September ’22 ICIS East Asia Index (EAX) down more than 9% on 21 July from one week ago. The EAX has declined in recent days after peaking above $40/MMBtu.

Global energy researchers are forecasting China, the world’s largest LNG importer, is on track to record the largest year-to-year drop in volumes since it started importing the super-chilled gas. Citing unprecedented liquefied natural gas market volatility and inflationary pressure, Wood Mackenzie recently predicted China’s imports would drop 14% by the end of the year. That…

The European Commission (EC) on Wednesday released a plan to cut natural gas consumption by 15% until next spring, a day after Russia suggested it would resume natural gas deliveries on Nord Stream 1 (NS1) at a reduced rate. The continent has been girding for the possibility that flows might not resume on the major…

With the completion of its last de-risking phase in early June, Milan-based energy storage company Energy Dome SpA said its carbon dioxide (CO2) battery is set to hit the market. “Our breakthrough technology, the CO2 Battery, is now commercially available to make cost-effective renewable energy dispatchable on a global scale,” said Energy Dome CEO Claudio…

Fears of a prolonged supply outage on Nord Stream 1 (NS1) after annual maintenance is scheduled to end this week and a heat wave that’s testing energy infrastructure in Europe are keeping natural gas prices on the continent elevated.   “While global gas inventories are relatively healthy today, an extended NS1 closure could quickly upend balances,”…

After a fatal oilsands plant mishap July 7 and the resignation of company president Mark Little the next day, Suncor Energy Inc. agreed Monday to a review demanded by New York activist shareholder Elliott Investment Management LP in April. The deal includes appointments of three independent corporate directors, participation by two of them in a…

Excelerate Energy Inc. has announced an official agreement for offtake at its proposed European LNG terminal as countries continue to scramble for access to imported energy. Excelerate, based in The Woodlands, TX, has signed a memorandum of understanding (MOU) with Bulgaria’s Overgas Inc. AD to provide liquefied natural gas (LNG) regasified at its developing project…