International

Japan expects to reduce its reliance on Russian liquefied natural gas (LNG) imports, but it’s unlikely to happen quickly, officials said. The Group of Seven (G-7), an inter-governmental political forum, has been considering ways to punish Russia following its invasion of Ukraine. The G-7 consists of Canada, France, Germany, Italy, Japan, the UK and the…

A majority of Americans favor expanding natural gas production and exporting large amounts of liquefied natural gas (LNG) to Europe as the continent works to reduce its reliance on Russian energy supplies, according to a recent Pew Research Center poll. Pew found that 61% of Americans favor more natural gas production and exports to allies…

Norway’s Equinor ASA reported it has fully cut ties with its Russian projects as it finishes a long-awaited restart of one of Europe’s largest liquefied natural gas (LNG) terminals. Equinor launched a plan to end all future investments and divest from current partnerships in Russia shortly after the country’s forces invaded Ukraine in February. The…

Additional volatility in the global natural gas market set off by Russia’s invasion of Ukraine earlier this year is driving liquidity in global benchmarks that continues to set new highs, particularly in Europe, according to the Intercontinental Exchange (ICE).  Open interest in Italian Punto di Scambio Virtuale (PSV) gas futures was up 169% year/year from…

Russia’s state-controlled Gazprom PJSC has threatened a cut-off of natural gas supplies to Denmark and the Netherlands, and a partial reduction for Germany, as it continues to demand contract payments in rubles. On Monday, Denmark’s Ørsted AS and GasTerra BV in the Netherlands both reported they were notified by state-controlled Gazprom that it would halt…

Enstar Natural Gas Co., Alaska’s top natural gas distributor, would get a new Canadian corporate owner in an $800 million sale announced Thursday. In an all-cash transaction, TriSummit Utilities Inc. would acquire Anchorage-based Enstar from AltaGas Ltd. The deal between the buyer and seller, both Calgary-based, is expected to close in early 2023 following regulatory…

After a two-year pause during the Covid-19 pandemic and an ownership shuffle, a third project aimed at reviving Canadian oil production offshore Newfoundland has progressed. Cenovus Energy Inc. and Suncor Energy Inc. announced work would resume on their C$3.2 billion ($2.6 billion) West White Rose supply development, which was paused in March 2020. The move…

Shell Australia Pty Ltd. and joint venture partner SGH Energy are moving forward with developing the Crux natural gas field offshore Western Australia, a project to supply the existing Prelude floating liquefied natural gas (FLNG) facility. Crux is expected to have capacity to supply the Prelude FLNG facility with up to 550 MMcf/d. Construction is…

After a 19-month regulatory case that generated a 293-page decision, approval has been recommended for the first Canadian pipeline project reviewed under rules enacted by the federal government in its 2019 Impact Assessment Act. The Canada Energy Regulator (CER) tacked 34 conditions and two national policy suggestions onto the recommended permit for TC Energy Corp.…