Gas

European gas prices jumped on Friday after workers at liquefied natural gas facilities in Australia began strike action, stoking fears of disruption to global supplies. Prices of TTF, the European benchmark, rose 13 percent to €34.50 per megawatt hour ($10.8 per million British thermal units) according to LSEG data. The …

Europe’s switch from pipeline gas to LNG is reshaping the global LNG market, putting a permanent floor under prices. This means some buyers may be priced out of this market for good. That, in turn, means they will turn to other sources of energy—like coal. It’s a domino effect even …

A higher natural gas price in Europe in November is making it lucrative to hold back supplies for a month until the arrival of lower temperatures can boost profits. Futures for November are about €10 euros a megawatt-hour more expensive than gas delivered next month, with no other contract this …

The EU’s liquefied natural gas imports from Russia jumped by 40% between January and July 2023 compared to the same period of 2021, before the Russian invasion of Ukraine, campaign NGO Global Witness said on Wednesday. Unlike Russian oil, Russian gas is not banned or under sanctions in Europe. But …

Russia’s gas giant Gazprom has reported a massive drop in its first-half net profit as deliveries to Europe have slumped compared to 2022 when Russia was still supplying pipeline gas to its European customers for most of the first half of last year. Gazprom’s net profit plunged by 8.5 times …

Regarded as the most important gas project in the country, Phase 11 of the South Pars Gas Field was inaugurated in a ceremony in Assaluyeh, Iran’s southern province of Bushehr, on Monday with President Ebrahim Raisi and Oil Minister Javad Owji in attendance. Construction of Phase 11 of the South …

The spot price for gas in Europe has again risen above $400 per thousand cubic meters after falling below that level at the end of last week. It had soared towards $500 before falling back to $355 amid concerns regarding a labor dispute and possible industrial action at LNG plants …

All major U.S. power markets have relied more on natural gas to keep a balanced grid system so far this year. Increased gas-powered generation highlights the fact that the fossil fuel – the single-biggest power generation source in the United States – continues to play a critical role in balancing …

Iraq has signed a preliminary agreement with Turkmenistan to import gas for energy production purposes, oil ministry said on Thursday. “The Iraqi government is committed to amplifying avenues of collaboration with our friendly nations, notably including Turkmenistan,” Deputy Minister of Oil for Gas Affairs, Azat Saber, told Shafaq News Agency, …

China is expanding its presence in the global LNG trading world, with Chinese traders setting up new or expanding their trading desks in Singapore and London, Reuters writes. This would put China in direct competition with LNG trade leaders including Shell, BP, TotalEnergies, and Equinor, the report pointed out. The …