National Grid plc, which manages the UK’s electricity and natural gas networks, is looking to secure additional gas reserves to help manage potential supply shortfalls this winter, particularly if LNG deliveries are diverted. “Due to the war in Ukraine and gas shortages in Europe, there is a significant risk that gas shortages could occur during…
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European Natural Gas Prices Drop to Three-Month Low Despite Russian Supply Threats
European natural gas prices continued declining Monday to the lowest point in three months on mild weather forecasts and reports of heightened storage, despite threats from Russia of a complete end to pipeline exports. After a brief mid-week jump last Wednesday (Oct. 12), natural gas linked to the Dutch Title Transfer Facility (TTF) benchmark continued…
EU Countries Ponder Natural Gas Price Cap Despite Confusion
European Union (EU) energy ministers will likely weigh proposals for natural gas price caps and other protective measures after weeks of questions from members, but researchers expect a consensus will be hard fought. Leaders from the 27 EU member countries are expected to meet Thursday and Friday to possibly implement a price cap on gas,…
Shrinking Inventory Deficit Pressures Natural Gas Forwards Prices Lower
A shoulder season slump brought on partly by a run of ample storage builds saw natural gas forwards fall sharply during the Oct. 6-12 trading period, NGI’s Forward Look data show. With the year-on-five-year-average inventory deficit shrinking fast, forcing a recalibration of the market’s winter risk assessment in the process, November fixed prices at most…
FERC Approves Extension for Freeport LNG’s Fourth Train Expansion Project
Freeport LNG Development LP now has until August 2028 to complete the fourth train at its export facility on the Upper Texas coast after FERC granted an authorization extension for its expansion project. In an order published Thursday, the Federal Energy Regulatory Commission agreed that the Covid-19 pandemic and resulting supply chain issues had severely…
TTF Keeps Big Premium to East Asian Spot LNG
SINGAPORE (ICIS) — After a period of relative weakness, the ICIS TTF November ‘22 market rose by 3% on Wednesday with a similar gain early on Thursday as the premium to East Asia remained very wide.
U.S. LNG Export Development Opens Door to Hydrogen, Sempra’s Brouillette Says
As Sempra Infrastructure continues to progress its LNG export terminal projects on the Gulf Coast and in Mexico, President Dan Brouillette said demand for natural gas is also helping influence the investments in alternative fuels. The subsidiary of San Diego-based Sempra and Avangrid Inc. disclosed a potential partnership on Wednesday to explore multiple projects to…
In A First, France Exports Natural Gas to Germany in Energy Solidarity Pact
France started exporting natural gas to Germany for the first time this week as the two European nations try to work more closely to replace energy supplies cut by Russia. French transmission system operator GRTgaz said Thursday initial daily deliveries of 31 GWh, or roughly 105.7 MMcf/d, are being delivered to Germany via an interconnection…
U.S. LNG Developer Glenfarne Creating Energy Transition Group
Infrastructure developer and investor Glenfarne Group LLC has created Glenfarne Energy Transition LLC (GET), focused on high-growth emerging markets and energy solutions, renewable power and grid stability. “GET believes that the world needs to adopt renewables at an accelerating rate to fight climate change and achieve energy security, but economies globally lack sufficient grid stability…
Winter Natural Gas Costs Seen Rising for U.S. Households, and Henry Hub at $7.40 in 4Q, EIA Says
A result of both higher retail prices and higher forecast consumption, the Energy Information Administration (EIA) expects U.S. households to spend more on energy this winter compared with the 2021-22 heating season, with the largest increase for homes that heat with natural gas. The agency’s latest Winter Fuels Outlook, included in its updated Short-Term Energy…