LNG Insight

The European Commission (EC) on Wednesday released a plan to cut natural gas consumption by 15% until next spring, a day after Russia suggested it would resume natural gas deliveries on Nord Stream 1 (NS1) at a reduced rate. The continent has been girding for the possibility that flows might not resume on the major…

Fears of a prolonged supply outage on Nord Stream 1 (NS1) after annual maintenance is scheduled to end this week and a heat wave that’s testing energy infrastructure in Europe are keeping natural gas prices on the continent elevated.   “While global gas inventories are relatively healthy today, an extended NS1 closure could quickly upend balances,”…

Excelerate Energy Inc. has announced an official agreement for offtake at its proposed European LNG terminal as countries continue to scramble for access to imported energy. Excelerate, based in The Woodlands, TX, has signed a memorandum of understanding (MOU) with Bulgaria’s Overgas Inc. AD to provide liquefied natural gas (LNG) regasified at its developing project…

Singapore-based equipment and solutions provider Twenty20 Energy plans to roll out an offshore natural gas power solution across 12 locations in Papua New Guinea as the nation seeks to electrify communities that lack access to power. The Power Island Floating Storage Regasification and Power (FSRP) solution includes power generators and regasification equipment, fuel barges and…

While most of Europe prepares for a future without Russian natural gas, Latvia has moved to end its dependence on the country’s pipeline volumes starting next year. Latvian lawmakers have passed a legislative amendment banning imports of Russian gas into the country starting January 2023. The move would add Latvia to a growing list of…

Despite news that Russia’s Gazprom PJSC could be receiving a vital turbine engine for its Nord Stream 1 (NS1) pipeline system, European natural gas markets creeped upward again on anxiety over prolonged transmission outages and extreme summer heat. Gazprom blamed sanctions delaying the equipment’s return from a Canadian maintenance facility affiliated with Siemens AG for…

European gas prices remained high this week, supported by supply tightness due to low Norwegian flows caused by unplanned outages at the Sleipner field and Nyhamna plant, and maintenance work on Nord Stream 1 set to last until 21 July.

A sweltering summer temperature outlook overshadowed ongoing demand destruction from the Freeport LNG terminal outage to send natural gas forwards prices soaring during the July 7-13 trading period, NGI’s Forward Look data show. Fixed price trading for August delivery at benchmark Henry Hub surged $1.179 higher week/week to $6.690/MMBtu. That established the baseline for fixed…

A Marathon Petroleum Corp. (MPC) subsidiary has asked FERC for a three-year extension to transform the Kenai LNG export facility in Alaska to an import terminal. Trans-Foreland Pipeline Co. LLC cited the Covid-19 pandemic, disruptions in the global energy market caused by Russia’s war in Ukraine and an unstable liquefied natural gas (LNG) market in…