Russia will allow natural gas buyers to pay debts for delivered supplies in currencies other than the ruble after a decree from President Vladimir Putin.
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January Warmth Sends Natural Gas Forwards Tumbling, Though West Remains Elevated
With constrained markets along the West Coast the notable exception, natural gas forwards tumbled during the Dec. 22-28 trading period as winter upside price risks faded on forecasts showing a mild start to 2023. Fixed prices for February delivery at Henry Hub shed 55.3 cents to end the period at $4.698/MMBtu, and numerous hubs throughout…
Wary Market Warns of Potential Chaos Once EU Natural Gas Price Cap Takes Effect
The European Union’s (EU) decision to cap natural gas prices could jeopardize the bloc’s efforts to refill storage inventories this summer and upend the region’s energy markets, industry and market participants have warned since the mechanism was finalized on Dec. 19. The price cap would be triggered if the month-ahead Title Transfer Facility (TTF) contract…
More Tools Needed to Manage Risk in LNG Markets, CCRO Chief Says
Robert Anderson, executive director of the Committee of Chief Risk Officers (CCRO), sees strong parallels between the global LNG trade and the U.S. natural gas market of the 1980s and 1990s following deregulation. His group wants to make the global gas business more transparent. The nonprofit was formed after the collapse of Enron Corp. to…
Another FSRU Arrives in Europe to Displace Russian Natural Gas
Finland’s first floating storage and regasification unit (FSRU) arrived at the port of Inkoo on Wednesday, where the country has jointly developed a terminal with Estonia to replace Russian natural gas supplies. The Exemplar was partially loaded with LNG to serve as the facility’s commissioning cargo, said vessel owner Excelerate Energy Inc. Gasgrid Finland Oy’s…
South Texas Port in Corpus Snags Funds to Improve Growing Energy Export Ship Channel
The Port of Corpus Christi in South Texas, one of the largest natural gas and oil export regions on the Gulf Coast, has secured $157.3 million in federal funds to advance the final phase of a multi-year improvement project. Under the Consolidated Appropriations Act of 2023 recently approved by Congress, the Port received project closeout…
First Phase of Port Arthur LNG Nearly Sold Out After RWE Deal
Sempra Infrastructure said Tuesday it has finalized a deal to sell an affiliate of German utility RWE AG 2.25 million metric tons/year (mmty) of LNG from the first phase of its proposed Port Arthur export project in Jefferson County, TX. The liquefied natural gas would be sold for 15 years on a free-on-board basis, a…
Woodside, Western Gas Eyeing More Australian Supply, Pluto LNG Exports
Woodside Energy Group Ltd. has tentative agreements with Western Gas, an Australian offshore natural gas producer, to supply more volumes and boost production from its Pluto LNG terminal. Woodside disclosed several nonbinding agreements with Western Gas in the North West Shelf Project. Western Gas is developing the Equus Gas Project in the Carnarvon Basin. Under…
U.S. Exports Bounce Back After Winter Storm Upends Natural Gas Flows – LNG Recap
U.S. LNG export demand fell by about 5 Bcf/d heading into the holiday weekend as a brutal winter storm settled in over much of the country and impacted terminal operations. The storm brought high winds, rain, snow and freezing temperatures that cut into natural gas supply, slowed deliveries on interstate pipeline systems and halted vessel…
No Holiday Break for Asian Buyers Lining Up LNG Supply
Asia-based LNG buyers announced a trio of offtake agreements to start the post-Christmas week, reflecting intense competition for natural gas molecules in a tightly supplied global market. Venture Global LNG Inc. said Monday it has secured a long-term deal to supply liquefied natural gas to a Singapore-based subsidiary of Japan’s Inpex Corp. from Venture’s planned…