China’s state-run CNOOC oil and gas giant has announced the discovery of what Chinese media are referring to as a large, deep-reservoir coalbed methane field with proven geological reserves of over 100 billion cubic meters (bcm) of natural gas. A discovery of this magnitude represents CNOOC’s second major onshore gas …
Read More »Russia to Boost Natural Gas Supply to Hungary and China
Russia’s Gazprom will supply more gas to Hungary and China during the winter, CEO Alexei Miller told Russian media, as cited by Reuters. The update comes on the heels of another report that said Gazprom was working on expanding its gas export infrastructure to China. The Hungary and China updates …
Read More »Canada’s LNG Ambitions Set to Reshape Global Gas Market
Over the last year, the U.S. has been ramping up its natural gas production, with plans to develop several more LNG facilities in the south of the country. But it seems like it’s not the only country to have major gas ambitions, as Canada continues to work on a massive …
Read More »Global Natural Gas Supply Needs $7 Trillion Investment to Meet Demand
Around $7 trillion in global investments in natural gas supply are necessary to ensure enough gas and avoid supply crunches through 2050, according to the Institute of Energy Economics, Japan (IEEJ). As countries look to cut emissions and shift to gas from coal, these investments will have to go to …
Read More »China Tells Gas Suppliers to Fill Storage Tanks ahead of Winter
China’s regulator has asked its biggest state-owned natural gas suppliers to fill up storage facilities heading into the peak winter heating season, underscoring risks from rising geopolitical tensions to the nation’s energy security. The National Energy Administration said China’s demand for gas is increasing and, while the domestic market is …
Read More »Low Natural Gas Demand Helps Europe Boost Inventories
European demand for natural gas remained near the bottom of the five-year seasonal levels in August, helping inventories end the month at around 93% full, data from the Joint Organizations Data Initiative (JODI) showed on Monday. Europe’s gas demand, measured in consumption in the EU and the UK, has trended …
Read More »Turkmenistan Eyes Lucrative Gas Deal with Iraq
Turkmenistan is on the cusp of securing a major new buyer for its natural gas: Iraq. On October 8, the Turkmen Foreign Ministry reported on a four-day visit to Baghdad by the head of the Turkmen state gas company for meetings revolving around this prospect. The plan is for Iraq …
Read More »Asian LNG Buyers Wait for War Premium in Natural Gas Markets to Fade
Amid comfortable levels of inventories for this time of the year, Asian LNG buyers have been sitting on the sidelines of the spot market this week, hoping for the surge in natural gas prices after the Hamas attack on Israel to fade. Natural gas prices in Asia and Europe jumped …
Read More »Europe’s Largest Economy may Face Wild Gas Price Volatility this Winter
LNG demand in Asia and Europe is beginning to rise ahead of the peak winter season amid a calmer market compared to last year’s chaos and record-high prices. But neither Europe nor Asia should be complacent about winter gas supply as winter weather, delivery disruptions, and geopolitical tensions could upend …
Read More »Putin Launches Russian Gas Shipments to Uzbekistan
Russian Vladimir Putin on Saturday announced the start of gas supplies to Uzbekistan via Kazakhstan, a boost for Russia’s industry hit by a flurry of Western sanctions over the offensive in Ukraine. Despite being home to a wealth of natural resources including gas, the Central Asian country of Uzbekistan has …
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