Despite a massive throttling of pipeline natural gas to Europe after Russia’s February invasion of Ukraine, European Union (EU) members in September still led the world in Russian oil and natural gas imports, according to a new report. Since the beginning of the conflict in Ukraine, EU members have imported around $97 billion in Russian…
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Could Natural Gas Supply Issues in Algeria, Nigeria Impact Europe?
Production and capacity issues in Algeria and Nigeria could impact future natural gas pipeline and LNG exports to Europe, complicating buyers’ hopes that contracted supplies can help bridge the gap caused by the shutdown on Nord Stream 1. Liquefied natural gas is projected to meet about half of Europe’s gas demand through 2030, according to…
U.S. Natural Gas Heavyweights Launch Coalition to Export More LNG
EQT Corp., the largest U.S. natural gas producer, has teamed up with midstreamers TC Energy Corp. and Williams to establish a coalition that will focus on increasing American LNG exports to help displace dirtier fuels abroad and lower greenhouse gas emissions. The Partnership to Address Global Emissions, or PAGE, would help develop and promote policies…
North American Natural Gas Exports Set to Rise by 46% as Mexican Projects Advance
Mexico is unlikely to substantially increase its natural gas production over the next five to six years, according to upstream regulator Comisión Nacional de Hidrocarburos (CNH). In its latest “prospectiva” or outlook for oil and natural gas output, the regulator modeled high, low and medium production growth scenarios for each hydrocarbon. The high case scenario…
European Natural Gas Prices Mixed Amid Flood of Supplies, Market Intervention – LNG Recap
LNG continues to flood Europe, pushing the Title Transfer Facility (TTF) to a three-month low in intraday trading on Monday when the prompt month contract again finished lower. Fundamentals on the continent are comfortable for the moment, with storage inventories nearly 91% full and above the five-year average. Warmer weather is also expected to continue…
Limits in Short-term Gulf Coast LNG Export Capacity Could Fuel Price Slump as Production Builds
Limited additions to pipeline infrastructure and a slower expansion of LNG terminals on the Gulf Coast are expected to stymie U.S. natural gas demand in early 2023 before helping fuel the region’s export growth over the long term. The Gulf Coast has become the epicenter for U.S. liquefied natural gas since the Lower 48’s first…
Petronas Declares Force Majeure at Malaysia LNG, Further Squeezing Global LNG Market
Petroliam Nasional Berhad, aka Petronas, has declared force majeure on supplies from its Malaysia LNG (MLNG) facility due to a pipeline leak, which could add more pressure on Asian and European liquefied natural gas buyers looking to cover before the winter season. “It’s expected that the leak at the Sabah-Sarawak gas pipeline that supplies the…
EIG Affiliate Takes Stake in Four Australian LNG Export Plants
MidOcean Energy, an affiliate of institutional energy investor EIG, said Friday it would acquire Tokyo Gas Co. Ltd.’s interests in four Australian LNG export terminals for $2.15 billion. MidOcean is acquiring stakes in Chevron Corp.’s Gorgon liquefied natural gas plant, Inpex Corp.’s Ichthys LNG, Shell plc’s Queensland Curtis LNG and Woodside Energy Ltd.’s Pluto LNG…
European Prices Retain Wide Premium Over Asian Spot LNG
LONDON (ICIS) – Global LNG prices remained volatile over the week, initially falling on firm supply, before picking up due to outages in Asia and a drop in gas deliveries in Europe.
European Buyers ‘Stuck in the Mud’ on Long-Term Natural Gas Needs, Say Experts
European governments should be moving more aggressively to secure long-term LNG supplies if they hope to end reliance on Russian natural gas, experts in London said recently. Plans to phase out fossil fuels and significantly curb emissions in the years ahead could still weaken the continent’s energy security, panelists said at Energy Trading Week in…