An extended outage at the Freeport liquefied natural gas (LNG) terminal continued to dominate the North American natural gas price outlook during the June 9-15 trading period, casting a wide shadow over regional markets from coast to coast, NGI’s Forward Look data show. The initial outage following an explosion at the 2.0 Bcf/d Freeport terminal…
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Europe and Asia LNG Prices Surge on Freeport Outage, Nord Stream 1’s Reduced Flows
News that the outage at Freeport LNG in the US will last longer than initially expected drove up the ICIS European TTF gas benchmark due to lower expected US exports. The ICIS East Asia Index (EAX) also climbed, underscoring its close ties to Europe’s prices.
Europe’s Top Natural Gas Buyers Continue to See Cut in Russian Deliveries – The Offtake
Europe’s largest gas buyers continued to see cuts in Russian deliveries Friday. Germany’s Uniper SE had received roughly 40% of its nominations, while Eni SpA had received about 50% of its orders. Slovakia also reported that its flows had been cut in half. Austria and the Czech Republic have seen flows reduced, while volumes from Russia arriving in France via Germany have been cut entirely. France receives less than 20% of its gas via Germany.
Israel, Egypt Eye Sending More LNG Supplies to Europe
The European Union (EU) has created a framework for potentially sending more natural gas to the continent following a tentative agreement between Israel and Egypt. The EU and the two potential partners clinched a memorandum of understanding (MOU) outlining collaboration efforts. The MOU highlights plans to send Israeli natural gas to Europe using liquified natural…
High Energy Prices Said Sustaining Russia’s Invasion of Ukraine
As European natural gas prices rise yet again, data suggest Russia’s gains from global energy market volatility are blunting the impact of sanctions on its exports. In a study from the Centre for Research on Energy and Clean Air (CREA), an international research group based in Finland, researchers concluded record-high energy prices are helping Russia…
Australian LNG Exports Under Scrutiny Amid Global Supply Crisis
Cold weather, coal-fired power outages and a lack of natural gas infrastructure to connect to regional markets has left Australia questioning the value of liquefied natural gas (LNG) exports. “Much like recent energy crises elsewhere in the world, the situation in Australia is an unfortunate confluence of massive coal capacity outages, combined with a colder-than-normal…
Gazprom Warns of Further Natural Gas Cuts for Europe, Escalating Supply Crisis
Gazprom PJSC has reduced deliveries of natural gas to some of Europe’s biggest buyers and Russia has warned that further cuts could be ahead, sending benchmark prices on the continent higher Thursday. Germany’s Uniper SE confirmed Russian deliveries have been cut by 25%, while Italy’s Eni SpA said flows have been reduced by 15%. Czech…
As BC LNG Gains Momentum, Alberta Forecasts Rising Oilsands Output
Oilsands plant additions are set to bump up Alberta production by 27% over the next 10 years, but natural gas production in the Canadian province is likely to be flat, according to government forecasts. The latest annual industry review by the Alberta Energy Regulator (AER) said oilsands output should increase to 4.7 million b/d as…
New Fortress Puerto Rico LNG Terminal Falls Under FERC Authority, Says Court
A federal court has ruled that FERC has authority to regulate New Fortress Energy Inc.’s (NFE) small-scale liquefied natural gas (LNG) terminal in Puerto Rico, rejecting an argument that the Commission revised definitions of a pipeline to assert authority. A panel of three judges with the U.S. Court of Appeals for the District of Columbia…
Ukraine’s Naftogaz Signs Tentative Deal for LNG, Hydrogen from Troubled Quebec Project
Ukraine’s largest natural gas and oil company has signed a tentative agreement to purchase liquefied natural gas (LNG) and hydrogen from a Canadian company looking to revive its Quebec export project. While in Washington DC, state-owned Naftogaz of Ukraine and Symbio Infrastructure announced a memorandum of understanding (MOU) for LNG supply from a proposed Quebec…