Gas

Europe successfully avoided a gas shortage crisis this winter thanks to high LNG imports, reduced demand, and milder weather. As a result, European natural gas prices have fallen to the levels from January 2022, just before the Russian invasion of Ukraine. This week, the front-month futures at the TTF hub, …

China National Offshore Oil Corporation and France’s TotalEnergies have reportedly completed China’s first purchase of imported liquefied natural gas to be settled in Chinese yuan through the Shanghai Petroleum and Natural Gas Exchange. The deal is reported to have an energy content of 3.2 billion to 3.4 billion British thermal …

The European Union is targeting a way for member states to have the option to effectively ban Russian shipments of liquefied natural gas without implementing new energy sanctions. The bloc’s energy ministers on Tuesday endorsed a proposal that would allow member governments to temporarily prevent Russian exporters from booking the …

India is reportedly considering the creation of a strategic reserve of liquefied natural gas (LNG) to protect against potential supply shortages or price spikes in the future, following the country’s energy crisis last year, according to a senior executive at India’s leading LNG importer. The government has “proposed we should …

European natural gas prices rose after a second straight weekly decline, as another spell of colder weather passes through the region. Temperatures across the continent are forecast to drop again this week. Together with some project maintenance in Norway in the coming days, there could be an upside for near-term …

Moscow may seek compensation over damage from last year’s explosions on the Nord Stream gas pipelines, news agency RIA Novosti reported on Monday, citing a Russian diplomat, who also said that the future of the projects was unknown. The pipelines, which connect Russia and Germany under the Baltic Sea, were …

Natural gas prices are up on the day, but they are once again down on the week—the third week running—as unseasonably warm weather dampened prospects for one more demand push in the United States. Natural gas prices were trading up on the day to $2.191 (+1.81%), but prices week to …

Spain, the biggest European buyer of liquefied natural gas from Russia, is urging importers not to sign new contracts with Moscow as it seeks to crimp revenues for the Kremlin’s war machine. LNG importers in Spain received a letter from the government asking companies not to sign up to new …

High export demand for LNG and higher domestic natural gas consumption pushed U.S. gas demand to higher levels than supply last year, resulting in the highest average Henry Hub spot price since 2008, the Federal Energy Regulatory Commission (FERC) said in its 2022 State of the Markets report. Yet, U.S. …

Germany has avoided a gas shortage this winter but “things could be different” next year and there’s no time for complacency, a top energy regulator said. “We can’t rule out a gas shortage situation for next winter,” Klaus Mueller, president of the federal network agency BNetzA, told the Rheinische Post. …