International

International liquefied natural gas (LNG) buyers could keep up the strong pace of new long-term contracts through the rest of the year as short-term volumes continue to grow more expensive, according to market analysts. Since the beginning of the year, buyers have secured over 22 million metric tons/year (mmty) of LNG by signing new deals.…

MADRID (ICIS) –The spread between TTF and Asian prices narrowed slightly in the seven days to 26 May, as the ICIS TTF dropped slightly while the East Asia Index (EAX) rose on regional demand rallies.

Russia’s largest independent gas producer, PAO Novatek, is struggling with its two liquefied natural gas (LNG) projects in the country’s Far North under the latest European sanctions imposed against Russia.   Novatek’s first operating export facility, Yamal LNG, is finding it difficult to secure European buyers. And the delay in the construction of its second project,…

American crude producers last week held output at the high point for the year. Demand for petroleum products was flat from the prior week amid soaring prices, the U.S. Energy Information Administration (EIA) said Wednesday, but consumption is expected to mount this summer. U.S. oil production totaled 11.9 million b/d for the week ended May…

Shell plc’s energy transition strategy got a thumb’s up Tuesday from shareholders during an annual general meeting that was disrupted for hours by protestors. During a live feed of the proceedings in London, demonstrators shouted insults and sang protest songs, which led Chairman Andrew Mackenzie to formally delay the event. Before police arrived, some protestors…

Commercial options in Canada to buy renewable natural gas (RNG), biodiesel and hydrogen are continuing to emerge, as suppliers find markets for lower-carbon products. A C$600 million ($480 million) commitment to expand biodiesel in British Columbia (BC) by Parkland Corp. inspired Premier John Horgan to call the province “a clean energy powerhouse.” Calgary-based Parkland, a…

Natural gas prices in Europe on Monday slumped to their lowest level since Russia invaded Ukraine in February as weak demand and the steady arrival of liquefied natural gas (LNG) cargoes have combined to weigh down benchmarks.  Storage inventories are filling rapidly as the continent races to displace Russian supplies. Inventories were at about 43%…

Saudi Arabia’s state-owned oil and gas company is raising its capital spending, but whether it increases production is another story despite record profits in the first quarter. Unlike most of its oil and gas peers, Saudi Arabian Oil Co., aka Aramco, plans to increase this year’s capital expenditures to $40-50 billion from nearly $32 billion…

Finland’s state-owned energy company Gasum said Friday that Russia would soon cut off the country’s main source of natural gas supplies, forcing it to find alternatives. Russia’s Gazprom PJSC informed the company that it would stop delivering natural gas supplies to Finland beginning Saturday (May 21). Gazprom said it was halting exports to the country…