Gas

Russian giant Gazprom will cut its gas supplies to Italy by 15% due to the back-and-forth between Russia and Europe over energy supplies, the company said on Wednesday. Following the decision to cut by 40% the volume of gas supplies to Germany along the Nord Stream pipeline on 14 June, …

Iraq’s Ministry of Electricity says it will settle its debts for 2020 gas purchases from Iran “within two days,” as part of measures to avoid a halt in the flow of much-needed gas into the Arab country. In a statement carried by the Iraqi News Agency on Tuesday, Ahmed Musa, …

Turkey will start transferring 10 million cubic meters (mcm) of natural gas daily from the Sakarya Gas Field in the Black Sea to the national transmission system in the first quarter of 2023, the country’s president said on Monday. The production in Sakarya Gas Field will “hopefully reach its peak …

European natural gas prices declined on Monday as muted demand helped to ease a tight market. Warm weather across the region is expected to keep a lid on gas use for heating over the coming week, while a forecast for increased solar energy production in the UK, Germany and Spain …

Hungarian Foreign Minister Peter Szijjarto has ruled out the prospect of a Russian gas ban in the European Union’s next package of sanctions, calling it “impossible”. Landlocked Hungary is overwhelmingly dependent on Russian hydrocarbons. Szijjarto’s comments come as Russian President Vladimir Putin says he believes the West will not be …

The Russia-Ukraine war disrupted global supply chains and weakened economies worldwide, but it spells opportunity for Azerbaijan, the hinge of Europe and Asia. The U.S. and Europe sanctioned Russian oil and natural gas, but Azerbaijan is on track to increase gas exports in 2022 and the following years, via the …

Some of the biggest international oil and gas majors, including ExxonMobil, Shell, and TotalEnergies, are expected to be awarded stakes in the major expansion projects of one of the world’s top LNG exporters, Qatar, sources familiar with the matter told Bloomberg on Tuesday. Qatar announced last year the world’s largest …

U.S. natural gas prices tumbled after a fire broke out at a Texas export terminal, threatening to leave supplies of the fuel stranded in shale basins despite surging overseas demand. The fire is under control at Freeport LNG’s terminal in Quintana, Texas, about 65 miles (105 kilometers) south of Houston, …

European natural gas prices have been on the slide for several days now as an early start of summer combines with ample LNG supplies to quench supply worries. According to a Bloomberg report, natural gas prices in Europe have been on the decline for five days now as demand eases …

Russia’s sanctions against Gazprom Germania and its subsidiaries could cost German taxpayers and gas users an extra $5.4 billion (5 billion euros) a year to pay for replacement gas. The estimated cost was reported by German Welt am Sonntag weekly on Sunday, citing industry representatives. In May, Russia decided to …