European natural gas steadied on Tuesday as Russian supplies flow to the continent in line with orders and mild weather keeps demand in check. Dutch futures, the European benchmark, were little changed at 97 euros per megawatt-hour by 8:38 a.m. in Amsterdam, after two days of declines. Prices appear to …
Read More »Germany, Seeking to Pare Russia Energy, Courts Qatar and UAE for Deals
German Economy Minister Robert Habeck said on Saturday that he will explore liquefied natural gas (LNG) supply on a trip to Qatar and the United Arab Emirates, and aims to secure a hydrogen deal, making Germany less dependent on Russia. Russia is the largest supplier of gas to Germany, according …
Read More »Soaring LNG Demand Creates Traffic Jam at Gulf of Mexico Ports
Close to a record number of liquefied natural gas tankers are crowding Gulf Coast export terminals as U.S. exports of the superchilled fuels run at record rates. Reuters reported that Gulf Coast liquefaction facilities are operating near capacity thanks to strong demand, especially from Europe, which is currently trying to …
Read More »Gazprom’s Exports Down despite same Production Levels
Russian energy giant Gazprom said on Tuesday that natural gas exports outside former Soviet Union countries fell by 28.5% year-over-year to 30.7 billion cubic meters (bcm) from Jan. 1 to March 15. The company added that it continues to deliver gas as requested by consumers in full compliance with contractual …
Read More »Europe could Plunge into Recession if Russia Cuts its Gas Supply
Last week, Moscow made good on its threat to weaponize its energy exports in retaliation against Western sanctions by imposing wide-ranging export bans. Alexander Novak, Russia’s deputy prime minister, said his government has the “full right” to “impose an embargo” on gas supplies by halting gas supplies through the Nord …
Read More »Germany Intends to Increase Oil and Gas Production in the North Sea
Finance Minister Christian Lindner said this is necessary to reduce dependence on Russian energy sources due to the invasion of Ukraine, writes RBC-Ukraine, citing Reuters. Germany, which depends on Russia for two-thirds of its natural gas imports, is urgently trying to stimulate the development of alternative energy sources, including the …
Read More »Ukraine’s Gas Reserves at 9.5 bln Cubic Metres, Production Continues
Ukraine’s gas reserves amount to 9.5 billion cubic meters (bcm) with production continuing at all facilities except at plants in areas where fighting is taking place, Prime Minister Denys Shmygal said late on Saturday. Imports continue from Hungary, Slovakia and Poland, Shmygal said in a video address. Before Russia’s invasion, …
Read More »Can Europe Turn to Algeria to Replace Russian Gas?
With Europe unveiling plans this week to end its reliance on Russian gas by 2030, Algeria is keen to boost its output and become a major player. However, with long-term Russian contracts and structural issues in Algeria, that will prove to be a challenge, experts say. About 40 per cent …
Read More »EIA: US Weekly LNG Exports down by One
According to the latest Short-Term Energy Outlook from EIA, U.S. LNG exports decreased by one vessel for the period between 3 March and 9 March 2022 compared to the week before. Twenty-three LNG vessels with a combined LNG-carrying capacity 85 f billion cubic feet departed the United States in this …
Read More »Global LNG Demand Growth Shifts from Asia to Europe on Russia Sanctions
Asia’s liquefied natural gas (LNG) demand growth may cool this year as buyers baulk at record-high spot prices pushed even higher by Europe’s shift to the super-chilled fuel amid the Ukraine crisis, analysts and industry sources said. High spot prices since late last year have already slowed trade and are …
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