LNG

Higher commodity prices have whetted investors’ appetite for more natural gas and oil deals, and the pace of activity should pick up for the rest of this year, PwC predicted in a recent midyear report. “Private equity deals are on pace for another record year as traditional oil and gas investments become attractive once again,”…

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…

The European Union (EU) could be securing another source of future natural gas supply, this time from Azerbaijan, as member countries continue to prepare for a future without Russian gas. According to a draft European Commission (EC) memo, the EU and Azerbaijan could “aspire to support bilateral trade of natural gas” to the continent and…

European countries are preparing for Gazprom PJSC’s next move as a 10-day maintenance period on the Nord Stream 1 (NS1) natural gas pipeline is scheduled to end July 21.  Whether the pipeline returns to full capacity, reduced capacity or in a worst case scenario, no deliveries at all, has left Europe readying for the worst.…

As traders continued to assess balances following the latest round of government inventory data, weighing strong summer heat against weakened export volumes, natural gas futures retreated early Friday. The August Nymex contract was off 10.7 cents to $6.493/MMBtu at around 8:50 a.m. ET. The Energy Information Administration (EIA) on Thursday reported a net 58 Bcf…

Recent cuts in global LNG supply and further geopolitical tensions are colliding, causing a growing list of European and Asian countries to react with energy conservation plans and economic warnings. Rice University’s Anna Mikulska, a nonresident fellow in energy studies at the Baker Institute for Public Policy, said the growing chaos in energy markets could…