Global gas markets are painting distinctly different pictures this week as supply uncertainty in Asia supports prices, but European markets are starting to see downside potential on the horizon. Mild weather in Europe and frigid forecasts for the US will drive price behavior in the coming days. Milder temperature forecasts …

OPEC+ will likely stick to existing policies of moderate output increases on Wednesday, February 2, five sources from the producers’ group said even as it expects demand to rise to new peaks this year and as oil prices trade near their highest since 2014. The group, which comprises of the …

Qatar, one of the world’s top natural gas exporters, will not be able to unilaterally replace Europe’s energy needs in case of a shortage due to the crisis between Russia and Ukraine, the emirate’s minister of state for energy said on Tuesday, February 1. “The volume of gas needed by …

Gas flows from Poland to Germany via the Russian Yamal-Europe pipeline resumed on Wednesday morning after it had been switched in a reverse mode in December, data from German network operator Gascade showed. Westbound gas flows were expected to resume after Gazprom booked transit capacity on Tuesday, restoring the normal …

China plans to launch by 2025 a unified nationwide power market system to ensure grid flexibility and stability and avoid a repeat of the energy crisis in the autumn of 2021. The power market trading system will see provincial and regional markets cooperate, which would improve cross-provincial and cross-regional market …

Gas reserves in Europe nosedived to historically low levels this month. According to data by Gas Infrastructure Europe, consumption from storage facilities this January is one third more than the average for the previous five years. Experts have been raising concerns about the risk of full supply disruption to the …

Global LNG trade growth is expected to slow to 4% in 2022, following year-on-year growth of 6% last year on the back of strong economic recovery in Asia, the International Energy Agency said Jan. 31. In its latest quarterly gas market report, the IEA said the LNG demand expansion in …

Iran’s oil exports have increased by 40 percent in recent months and the oil, gas, condensate and oil products export revenues are expected to reach $35 billion by the end of the current Iranian calendar year (March 20), Shana reported on Sunday. According to Finance and Economic Affairs Minister Ehsan …

Director of Production and Operations of Pars Oil & Gas Company announced the cumulative growth of gas production from South Pars since the beginning of operation in 2002 at about 2,000 billion m3. The duties of Pars Oil & Gas Company are divided into 2 areas of development and production, …

The energy transition “is not going smoothly,” the chief executive of Saudi Aramco, Amin Nasser, said on Thursday, calling for continued investment in oil and gas until low-carbon energy could grow and mature enough to meet rising energy demand. “We have to acknowledge that the current transition is not going …