Gas

Iraq is inviting international energy companies to take part in an energy bidding round to explore and develop natural gas reserves, the country’s oil minister said on Sunday. Hayan Abdel-Ghani said 11 gas exploration blocks in different parts of the country would be on offer and described them as “promising”. …

With the expansion capacity of the Trans-Anatolian Natural Gas Pipeline (TANAP) Project, Azerbaijan will correspondingly increase its gas exports to Turkey to 10.2 billion cubic meters (bcm) per year, Azerbaijan’s Ambassador to Türkiye, Rashad Mammadov, told Anadolu Agency in an exclusive interview. According to the Natural Gas Market 2022 Sector …

European natural gas futures soared as traders reassessed supply risks amid signs of global competition for the fuel and a heat wave bearing down on the region. The benchmark contract ended the week 35% higher, the most since last August, at the height of Europe’s energy crisis. It’s also the …

LNG exports out of the United States fell in May to 7.66 million tonnes, according to shipping data cited by Reuters. That’s a 0.35 million tonne dropoff from the previous month. The United States shipped less LNG to Europe in May, while increasing LNG exports to Asia and Latin America. …

Russia’s Gazprom will send 40.3 million cubic metres (mcm) of gas to Europe via Ukraine on Saturday, the company said, down from 40.6 mcm on Friday.

Spot prices for liquefied natural gas in Asia are trading at a consistent premium over the European benchmark for the rest of this year, signaling that competition for the fuel could tighten if demand rebounds. Exports from the US are currently more profitable to Asia in July, August and September, …

European natural gas prices dropped to the lowest levels in over two years as demand was hit further by record solar power in Germany. Benchmark futures tumbled as much as 4.3%. Gas posted its longest stretch of weekly declines since 2007 on Friday, a sharp turnaround from the energy crisis …

As tepid demand for gas from power generation and industry has sent European natural gas prices into a freefall in recent weeks, traders and industry officials are not ruling out the possibility that Europe may see a brief dip to below zero for day-ahead prices in some markets this summer. …

Benchmark natural gas prices in Europe continued their freefall this week and were headed to post the longest weekly losing streak since 2013 amid weak demand. The front-month futures at the TTF hub, the benchmark for Europe’s gas trading, plunged by 5.7% to $25.75 (24 euros) per megawatt-hour (MWh) as …

Amid a slump in EU gas prices, the continent is rushing to diversify its natural gas imports. Oilprice.com wrote yesterday that Russian gas giant Gazprom has seen its 2022 revenue and market share in Europe collapse as a result of Western sanctions. While Russia is busy trying to re-route exports …