International

Argentina took a step towards securing additional natural gas supplies for this upcoming Southern Cone winter with a new agreement with neighboring Bolivia. The agreement guarantees Argentina will receive 14 Mm3/d of gas from Bolivia from May to September, the same volume of imports as last winter. Bolivia had initially said it would send out…

Intercontinental Exchange Inc. (ICE) said Wednesday that natural gas futures trading in Europe set new records last month amid volatility sparked by Russia’s invasion of Ukraine and the ongoing threat it has posed for the continent’s energy supplies.  ICE said Dutch Title Transfer Facility (TTF) futures reached new heights in March, when 5.08 million lots…

Russia’s liquefied natural gas (LNG) exports remained strong in March and surpassed year-ago levels despite efforts by some buyers to curb purchases from the pariah state. Russian LNG exports increased by 19% year/year to 3.1 million tons (Mt) last month, according to shipbroker Banchero Costa. Shipments from the country were also 25% higher than they…

Russia’s war in Ukraine threatens global crude supplies, but a resurgence of the coronavirus in China is curbing demand as the United States and other countries prepare to release oil from strategic reserves. The result: volatile prices. Brent crude prices on Tuesday climbed more than 6% to about $104/bbl intraday following OPEC Secretary General Mohammad…

European countries without adequate liquefied natural gas (LNG) infrastructure are scrambling to secure floating storage and regasification units (FSRU) to import more of the super-chilled fuel amid a broader effort to cut reliance on Russian energy supplies. Ultimately, Europe is aiming to replace 155 billion cubic meters/year (Bcm/year) of Russian natural gas imports before 2030.…

Russia’s demand that European Union (EU) members pay for natural gas imports in rubles has had no immediate effect on prices, but it has the potential to roil the market in the coming weeks. Since Russian President Vladimir Putin signed a decree on March 31 requiring buyers from “unfriendly” countries to pay in rubles, European…

The Gas Transmission System Operator of Ukraine (GTSOU) warned Friday that Russian-backed forces were interfering with operations at a key compressor station in the eastern part of the country that jeopardized flows to Europe.  GTSOU said the forces were meddling in operational and technological processes that endangered the integrity of the Novopskov facility in the…

The UK government on Thursday unveiled an energy security strategy to cut its reliance on fossil fuel imports that would revive offshore oil and natural gas production in the North Sea. The nation, like others in Europe, is looking to break free of Russian oil and natural gas imports. Its strategy envisions more domestically produced…

U.S. oil and natural gas producers don’t set global commodity prices, nor are they attempting to gouge consumers, executives of the leading domestic explorers told Congress on Wednesday. Top executives of BP America Inc., Chevron Corp., Devon Energy Corp., ExxonMobil, Pioneer Natural Resources Co. and Shell USA Inc. discussed the reasons for sustained high prices…