Natural gas demand among European industries has dropped by the most since the early days of the pandemic, with soaring prices prompting widespread output cuts and factory shutdowns. Fourth-quarter industrial gas use in northern Europe fell by almost 5% from a year earlier, the biggest decline since the second quarter …
Read More »Russia to Enter Top 3 of Liquefied Natural Gas Producers within 8 Years
Russia will become one of the world’s three largest producers of liquefied natural gas (LNG) in terms of output in five to eight years, a senior consultant with Russian independent energy advisor VYGON Consulting, Ekaterina Kolbikova, has told Sputnik. “In [a period from] 2027-2030, Russia will become one of the …
Read More »Global Gas Shortage Worsens as Emerging Asia Joins the Hunt
The hunt for natural gas is spreading to Asia’s developing economies, with India and Indonesia adding to the global demand pressure. Indian Oil Corp. and Gujarat State Petroleum Corp. have recently bought spot cargoes of liquefied natural gas after being absent from the market for months, according to traders. Indonesia …
Read More »U.S. Claims Title of World’s Largest LNG Exporter
The U.S. became the world’s No. 1 exporter of liquefied natural gas for the first time ever last month, as deliveries surged to energy-starved Europe. Output from American facilities edged above Qatar in December after a jump in exports from the Sabine Pass and Freeport facilities, according to ship-tracking data …
Read More »Ukraine may have to Siphon off Russian Gas from Transit Pipelines
Under the pessimistic scenario Ukraine may face gas import problems during this heating season and will have to siphon off Russian gas from the transit pipeline, the former head of the Naftogaz company, Andrey Kobolev, has said. “Ukraine is unable to do without considerable amounts imported gas in the first …
Read More »U.S. LNG Exports Top Rivals for First Time on Shale Revolution
The U.S. was the world’s biggest exporter of liquefied natural gas last month for the first time ever, as projects ramped up production and deliveries surged to energy-starved Europe. Output from American facilities edged above Qatar in December due largely to a jump in exports from the Sabine Pass and …
Read More »China LNG Demand to Peak in 2022
After reaching around 124 billion cubic metres (bcm) this year, Fitch forecasts LNG import volumes to fall year-on-year up until 2025, hitting an annual low of 114 bcm that year, before growth flips back into positive territory. “Several factors are at play. On the one hand, demand growth – while …
Read More »U.S. Natural Gas Faces High Volatility in 2022
U.S. natural gas is in for another wild year as the insularity that once shielded North American energy consumers from overseas turmoil disintegrates. Benchmark American gas futures climbed almost 45% in 2021 for the strongest annual performance in half a decade after a deadly freeze that crippled output was followed …
Read More »European NatGas down as USA LNG Cargoes Head to Region
European gas prices slumped for a sixth day, the longest losing streak in more than a year, as cargoes of the liquefied fuel head to the continent just as industrial shutdowns and warm weather curb demand. Futures fell as much as 9.7% on Wednesday as a flotilla of U.S. LNG …
Read More »Putin: New Germany-Bound Pipeline may Help Reduce Prices
Russian President Vladimir Putin said Wednesday that a new pipeline to Germany has been fully filled with natural gas, noting that it could help quickly reduce soaring European energy prices. The $11 billion Nord Stream 2 pipeline is currently awaiting approval from Germany and the European Union, and officials warned …
Read More »