European natural gas prices fell for a fifth day as temperatures are forecast to stay mild into the new year while supplies remain plentiful. Benchmark futures declined as much as 7%, after closing at the lowest level since mid-June on Wednesday. Prices have been sliding over the last two weeks …
Read More »Japan’s 1st LNG-Powered Ferry Receives First LNG Fuel Supply
Japanese heavyweight Mitsui O.S.K. Lines (MOL), its group company Ferry Sunflower Limited, and Kyushu Electric Power Co. (Kyuden) have revealed that Sunflower Kurenai, Japan’s first LNG-fuelled ferry, received its first LNG fuel supply. As informed, the vessel was bunkered by Kyuden at the Port of Beppu. LNG fuel was supplied …
Read More »Germany has Dramatically Slashed its Dependence on Russian Gas
Europe’s biggest economy, Germany, has seen the share of Russian gas in its gas mix drop to some 20% this year from 55% last year, per data from energy lobby group BDEW cited by Bloomberg on Tuesday. Russia started gradually cutting gas supply via the Nord Stream pipeline to Germany …
Read More »EU Gas Price Cap could Tighten LNG Supplies into Europe as Asia Reassesses Favorable Markets
The EU’s Eur180/MWh gas price cap would not impact Asian LNG trade flow in the near term but could tighten supplies to Europe in 2023 as some Asian suppliers might opt to sell to other markets, market sources told S&P Global Commodity Insights Dec. 20. The EU’s energy ministers agreed …
Read More »Europe’s Gas Price Cap Threatens to Intensify Energy Crisis
Europe’s move to cap natural gas prices threatens to curb supply to the region and intensify its energy crisis. European nations this week reached a deal to put a ceiling on gas prices, ending months of political wrangling over whether to intervene in its energy sector. But while the mechanism …
Read More »Iran Gas Output from South Pars Hits 0.7bcm/d
The CEO of Pars Oil and Gas Company (POGC) said the daily gas production from the South Pars joint gas field has reached 700 million cubic meters. According to Pars Oil and Gas Company, Mohammad Hossein Motejali said the company raised its gas production from the massive gas field due …
Read More »Germany Opens First Floating Liquid Natural Gas Terminal
German Chancellor Olaf Scholz and other ministers inaugurated on Saturday morning (17 December) the country’s first liquid natural gas (LNG) terminal in Wilhelmshaven in northern Germany, a project expected to supply around 6% of the country’s energy demand. At the inauguration, Scholz stated that the rapid completion of the plant …
Read More »Azerbaijan Intends to Export 11.6 bln Cubic Meters of Natural Gas to Europe in 2023
Azerbaijan intends to export at least 11.6 billion cubic meters of natural gas to Europe in 2023, President Ilham Aliyev said in Bucharest at the signing ceremony of an agreement between the governments of Azerbaijan, Hungary, Georgia and Romania on a strategic partnership in the development and supply of green …
Read More »Egypt Discovers Large Gas Field
Egypt has discovered a large gas field in the Nargis region of the eastern Mediterranean, Oil Minister Tarek El Molla said, Reuters reports. An assessment of the field’s reserves is still ongoing, he told a parliamentary committee briefing. According to Chevron’s Web site, Nargis is one of four offshore exploration …
Read More »Turkmenistan Targets the European Gas Market
Since Russia invaded Ukraine, Europe has announced its intent to diversify its gas supplies away from Russia. Sensing an opportunity, Turkey is angling to become a natural gas hub and alternative supply route to the European Union from resource-rich countries in the Caucasus and Central Asia. During a trilateral summit …
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