Turkey is on track to have the third-largest natural gas storage capacity in Europe, thanks to the planned expansion of storage facilities. Its strategic geographical position makes it a key transit country for natural gas pipelines from various regions, including Russia, the Caucasus, the Middle East and Africa. Enhancing gas …
Read More »The Netherlands to Turn on Groningen Gas Output amid Cold Snap
The Dutch government has decided to temporarily extract minimal amounts of natural gas from two sites at the Groningen gas field that was closed last year, as a deep freeze is moving into northwest Europe, boosting demand for space heating and electricity. The Groningen gas fields would be turned off …
Read More »Ukraine Doubles Gas Imports from EU and Moldova in 2023
In 2023, Ukraine imported 4.3 billion cubic meters of natural gas from the European Union and Moldova, which is twice as much as in 2022. Gas Transmission System Operator of Ukraine LLC said this in a post on Facebook, Ukrinform reports. “According to the latest data, in 2023, more than …
Read More »U.S. Gasoline Prices Slide, Defying Crude Oil Rise
Retail gasoline prices in the United States continued to fall on Friday, landing at $3.088 per gallon, according to the latest AAA data. This is down from yesterday’s average of $3.090 per gallon, and down from a week ago’s $3.120. Meanwhile, WTI crude is trading up week over week, exchanging …
Read More »Europe’s Natural Gas and Power Prices Jump as Cold Snap Begins
Power prices in Finland jumped to record-high levels as a deep freeze in Europe began in the Arctic parts of the Nordic countries and is set to move south to northwest Europe in the weekend and next week, creating additional energy demand and leading to higher electricity and natural gas …
Read More »Birol: Turkey should Avail of Anticipated LNG Surge in 2025
Turkey could take advantage from an expected global liquefied natural gas (LNG) production boom projected for 2025 onward, thanks to its extensive infrastructure, according to the head of the International Energy Agency (IEA). Fatih Birol, executive director of the IEA, recommended that Türkiye avail of this anticipated LNG boom that …
Read More »Qatar Signs 5-Year Crude Sales Deal with Shell in Singapore
Qatar has entered into a significant agreement to supply Shell in Singapore with up to 18 million barrels of oil annually for a period of five years, marking the Gulf state’s inaugural five-year crude sales deal. QatarEnergy announced its accord with Shell International Eastern Trading Co. to provide a yearly …
Read More »Sanctions are Crushing Russia’s Ambitious LNG Export Projects
Russia may have to put its plans to significantly boost its eastbound pipeline gas exports and its LNG exports to the global markets on ice amid growing challenges. Russia has relied on the Chinese market for higher pipeline gas exports since Putin’s invasion of Ukraine and the slashed volumes of …
Read More »Russia’s Arctic LNG 2 Project Faces Setback due to US Sanctions
Russia has decried U.S. sanctions targeting the country’s massive Arctic LNG 2 project, saying they are unacceptable and will undermine global energy security. Located in the Gydan Peninsula in the Arctic, the LNG project is considered key to Russia’s efforts to boost its global LNG market share from 8% to …
Read More »Russia’s Novatek Starts Arctic LNG 2 Project amid US Sanctions
Russia’s biggest liquefied natural gas producer began production at its Arctic LNG 2 project — despite US sanctions — in a move that could provide some relief to the tight global market for the fuel. The first train of the Novatek PJSC-led Arctic LNG 2 project “has actually started operating,” …
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