To help cope with the European energy crisis, all twenty seven European Union (EU) members approved several measures at a Brussels meeting on Friday, including levies on windfall profits made by fossil fuel companies. But, after weeks of debate from members and market speculation, a bloc-wide cap on natural gas import prices has been tabled…
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Natural Gas Forward Curves Retreat as Deadly Ian Rages Across Southeast
With natural gas production remaining stout – even amid temporary shut-ins ahead of Hurricane Ian – and cooler weather leaving its mark on storage inventories, natural gas forward prices continued to fall during the Sept. 22-28 week, according to NGI’s Forward Look. In the latter part of the period, all attention was on Florida, where…
Germany Secures LNG Supply from UAE, Possible First Cargo by December
German utility RWE AG has secured another LNG supply source in an agreement with Abu Dhabi National Oil Company (ADNOC) that could bring additional cargoes to Germany’s developing import terminals as soon as December. RWE and the United Arab Emirates’ (UAE) state-owned ADNOC agreed to a multi-year supply contract for liquefied natural gas starting in…
Asian LNG Price Dips on Japan’s High Stocks, TTF Rises
The price spread between the ICIS East Asia Index (EAX) and Dutch TTF widened over the week, with East Asian spot prices dipping on high utility inventory levels in Japan and the latest tender cargo awards from south and southeast Asia.
Mexico LNG Arising As Future Solution for Energy Starved Europe
Mexico President Andrés Manuel López Obrador said during his daily press conference on Tuesday that an LNG terminal could potentially be built in the port of Coatzacoalcos in southern Veracruz to export natural gas to Europe. It’s not the first time López Obrador has talked about shipping gas to Europe as the continent reels from…
North American Natural Gas Marketers Report Strong Sales, LNG Demand in Second Quarter
Top North American natural gas marketers reported stronger overall sales volumes for the second quarter as production gathered momentum in response to strong consumption and prices. A multitude of enduring demand drivers could fuel momentum through this year and into next, marketers and traders say. The 24 gas marketers included in the latest NGI Top…
European Natural Gas Prices Fall as Nord Stream Probe, Onset of Winter Fuel ‘High Uncertainty’
European natural gas prices fell sharply Thursday after a brief gain, despite more damage discovered on the Nord Stream (NS) natural gas pipelines and calls for more energy conservation in Germany. Details of a fourth leak were released by the Swedish Coast Guard and other agencies investigating a possible explosion on Tuesday that damaged the…
Kinder Sells Quarter Stake in Elba Island LNG for $565M
Kinder Morgan Inc. (KMI) has completed the sale of a 25.5% equity stake in Elba Liquefaction Co. LLC (ELC) to an undisclosed buyer for about $565 million, management said Tuesday. ELC, a joint venture between KMI and Blackstone Credit, owns the 2.5 million metric tons/year Elba Island LNG export terminal in Chatham County, GA. KMI…
TotalEnergies Sees U.S. as Growth Engine for Global LNG, Renewables
LNG and renewables are the core of TotalEnergies SE’s U.S. strategy as it inks alliances to expand the global trading arm, executives said Wednesday. The French supermajor is “profitably expanding,” with liquefied natural gas equity production in the United States and Mexico, said CFO Jean-Pierre Sbraire. He and CEO Patrick Pouyanné shared the stage in…
U.S. LNG Imports Reach 15-Year Low Amid Natural Gas Production Growth, Capacity Gains
LNG imports to the United States reached their lowest levels in 15 years during the first half of 2022, according to the Energy Information Administration, a possible sign that domestic production and infrastructure projects could be improving supply issues in the Northeast. Recent EIA data showed U.S. imports of liquefied natural gas averaging 77 MMcf/d…