Italian energy company Snam acquired a new floating regasification vessel from BW LNG company to contribute to Italy’s energy security and diversification. The vessel has a maximum storage capacity of 170 thousand cubic metres of liquefied natural gas (LNG) and a continuous regasification capacity of about 5 billion cubic metres …
Read More »EU Chief Says Bloc must Prepare for Complete Cut-Off of Russian Gas
European Commission chief Ursula von der Leyen has said the European Union needs to make emergency plans to prepare for a complete cut-off of Russian gas in the wake of the Kremlin’s war in Ukraine. The EU has already imposed sanctions on Russia, including on some energy supplies, and is …
Read More »IEA: Global Gas Demand Growth Forecast to Falter for Years
Global natural gas demand will sputter for the next three years, as soaring prices and the threat of further Russian supply cuts discourage consumption. Gas use is expected to slip 0.5% this year as reduced economic activity in Asia and a sharp drop in European gas demand overshadows more buoyant …
Read More »Germany Advances FSRU Projects to Ensure Gas Supply
Four floating storage and regasification units are planned for deployment offshore Germany along with two permanent onshore sites, with an emphasis upon the FSRUs to help secure near-term and medium-term gas supplies. The German government has earmarked 2.94 billion euros ($3.07 billion) for the projects, set to be developed by …
Read More »USA Sending more Gas to Europe than Russia
For the first time, the US is supplying more natural gas to Europe than Russia sends by pipelines, according to the International Energy Agency. Europe is seeking alternatives such as US liquefied natural gas to Russian supplies after Gazprom PJSC slashed shipments through Nord Stream, its biggest pipeline to Europe, …
Read More »Algeria Says It’s Agreed Hike in Gas Prices with Three Partners
Algeria said it reached a deal with three “partners” to increase prices of its natural gas exports, as Europe races to boost supplies from the North African country. “We are confident that we will soon reach agreements to review the prices with other partners,” Toufik Hakkar, the chief executive officer …
Read More »U.S. Supplies more Gas to Europe than Russia for the First Time
For the first time, the U.S. provided more liquefied natural gas (LNG) to Europe than Russia sends by pipelines, according to the latest data released by the International Energy Agency (IEA). Russia ships about 150 billion cubic meters of gas to Europe via pipelines every year, and another 14 billion …
Read More »Gas Supplies to Europe Holding Firm
Gas supplies to Europe are holding firm despite ongoing troubles at the Nord Stream 1 pipeline, leaving the market in equilibrium, albeit temporarily. That’s according to Rystad Energy analyst Lu Ming Pang, who made the statement in a market note sent to Rigzone late Wednesday. The Rystad analyst outlined in …
Read More »Shell Set to Sign Deal with Qatar for Giant Gas Project
Shell Plc is set to follow other Western energy majors by taking a stake in a $29 billion project to boost Qatar’s exports of liquefied natural gas, just as Europe races to shore up new supplies of the fuel. The London-based company will probably announce its partnership with state-controlled Qatar …
Read More »EU Gas Swings as Russia-Turkey Flows Resume while Risks Loom
European natural gas prices fluctuated, with traders weighing the return of flows via Turkey against the risk of a further deterioration in supplies to the continent. Gas shipments via the TurkStream pipeline resumed after maintenance ended on Monday, Russia’s Gazprom said on Telegram. The link, which has an annual transport …
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