LNG Insight

China’s thirst for LNG is likely to rebound in 2023, which could exacerbate the global energy crunch, but to what extent the country returns to the spot market remains unclear as it continues to grapple with Covid-19. China has eased restrictions aimed at curbing the spread of the virus. Those measures limited economic activity and…

PAO Novatek has discovered a prolific natural gas and condensate field it plans to use to boost the resource base for its Arctic LNG 1 project as it furthers its goal of growing Russian exports. Novatek, Russia’s largest independent natural gas producer, reported it has found a field on the Gydan Peninsula in the far…

The U.S. Department of Energy (DOE) has granted Sempra Infrastructure’s request for two LNG export permits for terminal projects planned to provide a swift channel for U.S. natural gas to Asia from the Mexican Pacific Coast. Published by the DOE Tuesday, the orders expanded non-Free Trade Agreement (FTA) export volumes for Sempra’s Energia Costa Azul…

Russia is turning to Turkey as a potential natural gas hub partner with a new sense of urgency to find new export outlets for volumes left stranded by damages to the Nord Stream pipelines in September.  But any hub would likely face political, financial and supply issues that are compounded by the Kremlin’s war in…

With its latest sales and purchase agreement (SPA) with Galp Trading SA, NextDecade Corp. is targeting a final investment decision for its Rio Grande LNG terminal early next year. Houston-based NextDecade disclosed Tuesday that it has inked a 20-year, 1 million metric ton/year (mmty) SPA at prices linked to Henry Hub with the unit of…

A fatal explosion on a natural gas pipeline in western Russia, which moves supplies to Europe, did little to move prices on the continent after a unit of Gazprom PJSC said deliveries were being rerouted. Three people were reportedly killed and another was injured during maintenance on a stretch of the Urengoy-Pomary-Uzhhorod pipeline in the…

Renewable sources of energy are collectively on track to eclipse coal as the world’s leading source of electricity, with capacity growth forecast to nearly double in the next five years, the International Energy Agency (IEA) said in a new report. IEA’s Renewables 2022 report forecasts that abundant energy drivers such as wind and solar will…

Europe’s Title Transfer Facility (TTF) benchmark fell further Monday as a cold snap eased and a long-awaited agreement to cap natural gas prices on the continent gave the market pause.  Both the January and February TTF contracts slipped about 6% to finish around $34/MMBtu, while prices further down the curve dropped as well. The prompt…

European Union (EU) members agreed Monday to create a price control mechanism for natural gas traded in the bloc after months of negotiation and debate on whether a policy to protect against market volatility could limit much needed LNG supply. The majority of leadership from the 27-country EU agreed to institute what Czech Industry and…