International

Germany has revived its liquefied natural gas (LNG) import plans to reduce dependency on Russian natural gas, following Russia’s invasion of Ukraine.  Germany’s energy strategy to phase out coal-fired power plants by 2030, and to shutter its nuclear power plants by the end of this year, has left the country with few alternatives to meet…

Citing Russia’s invasion of Ukraine, British energy giant BP plc said Sunday it would unload its stake in Russian government-controlled oil company Rosneft.  Other majors followed suit Monday, including Shell plc, which said it would exit its joint ventures (JV) with Russia’s Gazprom, the state-controlled energy giant behind the Nord Stream 2 natural gas (NS2)…

Oil and natural gas prices climbed higher Monday in another volatile stretch of trading as the market weighed the possibility of significant supply disruptions tied to the latest round of sanctions against Russia amid continued fighting in Ukraine.  An initial round of talks to discuss a ceasefire Monday also yielded no results as Russia finds…

Yakutia LNG, a 17.7 million metric ton/year (mmty) liquefaction project proposed for the Russian republic of Yakutia, is planned to start up in 2027 to deliver liquefied natural gas (LNG) from Russia’s Far Eastern coast to China.  If the Russian government gives permission for the Yakutia project to export LNG, it could help Russia towards…

U.S. oil and natural gas leaders this week pledged to support Ukraine in light of Russia’s unprovoked invasion, which roiled financial markets around the world. Russia’s attack against Ukraine, forewarned by Russian President Vladimir Putin for months, came on the heels of major sanctions by the United States and its allies. It also followed Germany’s…

France plans to build at least six nuclear reactors, and possibly another eight, under the latest national low carbon strategy unveiled by President Emmanuel Macron earlier this month. The strategy is designed to eventually replace fossil fuels like natural gas with nuclear and renewables to achieve the country’s 2050 net zero target.  Six European Pressurized…

Major shippers of liquefied natural gas (LNG) have been expecting the market to grow tighter as demand outpaces production growth, but geopolitical tensions are requiring transporters to stay on their toes, according to Flex LNG Ltd. Flex management reported last week that the fluctuating market dynamics worked out in its favor last year, with significant…

Natural gas strengthened after the extended holiday weekend as cold, rainy winter blasts continued to move across the country. With heightened geopolitical tensions driving a broader spike across commodities, the March Nymex gas futures contract settled Tuesday at $4.498/MMBtu, up 6.7 cents from Friday’s close. April futures climbed 8.4 cents to $4.461. Spot gas prices…

President Biden on Tuesday increased pressure on Russia with economic sanctions and troop movements in response to escalation on the Ukrainian border. It was the latest pushback against the country by western allies of Ukraine after President Vladimir Putin announced he would recognize the sovereignty of two pro-Russian sepratist states along the eastern border and…