Danish authorities reported a gas leak Monday from the defunct Nord Stream 2 pipeline close to the island of Bornholm in the Baltic Sea, according to Interfax news agency. The Danish Maritime Authority has banned all ships from moving within five nautical miles (9.25 kilometers) of the accident site, saying …
Read More »Unrealistic Demands Hindering European LNG Deals
Europe’s frantic search for gas supplies in the wake of Russia’s invasion of Ukraine is being stymied by buyers’ unrealistic demands, TotalEnergies SE’s chief executive officer said. “If Europe wants some security of supply, it has a cost,” Patrick Pouyanne said in the Qatari capital, Doha, where the French energy …
Read More »UAE Accelerates Development of Huge Gas Field as High Prices Persist
Continued high gas prices in Europe in the aftermath of Russia’s invasion of Ukraine in February have prompted several major European oil and gas companies to expedite the development of gas projects in the Middle East, with Italian major Eni’s latest announcement regarding the UAE being the latest example. According …
Read More »A Natural Gas Shortage is Looming for the U.S.
Last week, the media rushed to report that natural gas prices in the United States had fallen sharply after trade unions and railway companies reached a tentative deal that averted a potentially devastating strike. Indeed, natural gas prices fell by nearly a dollar per million British thermal units, helped by …
Read More »Europe’s Scramble for Oil and Gas is Causing a Tanker Shortage
As Europe looks for oil, gas, and fuels from anywhere but Russia, a shortage is developing on the tanker market, Bloomberg has reported, as vessels carrying fossil fuels for Europe have to travel longer distances and fewer voyages. As a result, freight costs are elevated, too, with the cost of …
Read More »Romania’s Natural Gas Deposits are 81% Full
Romania’s natural gas deposits are already 80% full (81% as of September 17), and the storage will continue by the end of October, according to data reported by national transport grid operator Transgaz and the Gas Infrastructure Europe platform. The 80% rate represents the minimum threshold approved for Romania under …
Read More »New LNG Carrier Design Eliminates Methane Slip
Siemens Energy, Moss Maritime, DNV and Fearnleys have developed an LNG vessel design that will be powered by a hybrid combined-cycle power and propulsion plant. Under the concept, many engine components, including the main engines can be removed from the ship. The backbone of the vessel’s hybrid combined-cycle, power and …
Read More »Türkiye a Reliable Route for Gas Deliveries from Russia
Türkiye is a “reliable route” for gas deliveries from Russia, the Russian president said on Friday. During a meeting with his Turkish counterpart Recep Tayyip Erdogan on the sidelines of the Shanghai Cooperation Organization (SCO) summit in Samarkand, Uzbekistan, Putin thanked Erdogan for the Ukraine grain deal. He expressed hope …
Read More »European Gas Fluctuate as EU Plans Intervention to Ease Crisis
Natural gas fluctuated as the European Union pushed on with its market intervention to ease the worst energy crisis in decades, but the plans are unlikely to include a cap on prices of imported fuel. Benchmark futures gave up most of an earlier decline of as much as 4.9 per …
Read More »Record U.S. LNG Exports to Europe may not Last
The United States and its natural gas have been vital for Europe’s attempt to fill its gas storage ahead of this winter season. Yet record U.S. LNG exports have led to a surge in domestic gas prices. The boomerang is coming back. When President Joe Biden promised the European Union …
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