Prices near four-week-low on US-Russian talks and weaker demand
Dutch and British wholesale prices of gas held near four-week lows, as the market awaited the outcome of talks between the U.S.A. and Russia on how to end conflict in Ukraine. Strong renewables output also curbed demand. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was down 0.07 euros at 47.65 Euro per Megawatt Hour (MWh), which is $14.60/mmBtu by 0913 GMT.
EUROPE GAS - Prices trade within a narrow band amid cold weather and storage concerns
The Dutch and British wholesale prices of gas traded in a narrow band on Wednesday morning. They remained near their 15-month peak seen earlier this week amid a cold weather forecast and concern over the storage build. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was almost flat at 52.30 Euros per megawatt-hour (15.93/mmBtu) by 0949 GMT.
Equinor Q4 profit beats forecast, raises 2030 oil output target
Equinor reported slightly higher profits than expected for the final quarter in 2024. It also increased its oil and natural gas production forecast, and scaled back plans to expand renewable energy capacity. Equinor's poll of 24 analysts predicted that the Norwegian oil and gas company would earn $7.90 billion in adjusted earnings for October-December, down from $8.56 million a year ago.
Prices of EUROPE GAS rebound due to a weaker wind and colder weather
The wholesale gas prices in the Netherlands and Britain rebounded Tuesday morning after falling on Monday, due to expected colder weather conditions and reduced wind output. The benchmark contract for the Dutch TTF hub at 0914 GMT was 0.67 euros higher, at 48.59 Euros per Megawatt Hour (MWh), while the contract for March was 1.52 Euros higher, at 48.45 EUR/MWh.
EUROPE GAS-Prices stable amid warmer and windier weather
The Dutch and British wholesale prices for gas were not much different on Friday, as the expectation of a warmer, windier climate helped offset concerns about storage levels. This was due to a lower demand for immediate gas from softer weather. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub was down 0.27 euro at 48.90 Euro per Megawatt Hour (MWh)…
US NatGas Demand Could Hit Record High
U.S. spot natural gas and power prices soared to multi-year highs in several parts of the country with extreme cold expected to boost gas demand to a daily record high on Tuesday.Extreme weather has created havoc for power and gas markets in recent years as demand has come close to outpacing supply.In February 2021…
IEA: Global gas markets will remain tight due to rising demand
LONDON (Jan. 21) - The global natural gas market will remain tight in 2019 as the demand for gas increases and production grows slower than it did before the energy crises of 2022 and 2020-2021. This was revealed by a report released on Tuesday by the International Energy Agency. Political factors have exacerbated the volatility of gas prices…
After holiday weekend, US demand for natgas is expected to reach record levels
The U.S. demand for natural gas is expected to hit a record next week, as the extreme cold that has gripped the U.S. this winter will put pressure on power grids again the day following the Martin Luther King Jr. Day weekend. This week, gas futures reached two-year highs ahead of the freezing weather. Meanwhile, spot…
Daphne Technology, Williams win DOE Grant for MERP Efforts
Daphne Technology, in partnership with Williams, announced the award of a grant worth nearly $6M from the U.S. Department of Energy's (DOE) Methane Emissions Reduction Program (MERP).This project, titled the "Daphne and Williams Methane Slip Abatement Plasma-Catalyst Scale-Up", highlights the critical role of innovative technologies in reducing methane emissions.As part of this collaboration…
TotalEnergies reports a slight improvement in the fourth-quarter refining profit margins
TotalEnergies said that it expects the fourth quarter 2024 results downstream to benefit from a slight improvement in refining profit margins. The French oil major made this announcement in its trading update. The European refining mark-up was $25.90 per ton of metric weight in the fourth quarter last year. This is up from $15.40 the previous quarter.
Orlen, a Polish company, plans to invest 380 billion Zlotys (about $3.8 billion) by 2035
Orlen, Poland's oil retailer and refiner, plans to invest between $84.3 billion and $91 billion by 2035. This compares to the 320 billion zlotys in investments that were envisaged for an eight-year period under the 2022 Strategy. Orlen shares fell as much as 3,2% after the announcement of Orlen's strategy, but they were only down 0.1% as of 1017 GMT.
Shell's LNG strategy is a 'disconnect,' according to Shell shareholders' climate resolution
Shell's plans for increasing sales of LNG have been questioned by a major shareholder group that filed a motion asking if the strategy was compatible with a goal of cutting carbon emissions. Shell is the largest LNG trader in the world. CEO Wael sawan bets on the growing demand. Analysts and climate activists are concerned about the implications of this for climate targets.
EUROPE GAS-Prices
The Dutch and British wholesale gas price continued to decline on Tuesday morning due to the milder weather forecasts next week, high winds speeds and stable supplies. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was 46.65 euros per Megawatt Hour (MWh) as of 0947 GMT. This is a decrease of 0.61 euros.
Winter storms in the US could lead to power outages and a reduction of natgas supplies
According to energy analysts, the next few weeks could see massive power outages across the U.S. and a spike in natural gas demand. As a result of the "freeze offs" of oil and gas pipes and wells, the demand for gas is expected to increase. According to the U.S. Energy Information Administration, gas is responsible…
US NatGas up as LNG feedgas rises, Frigid Temps Forecast
U.S. natural gas futures edged up about 1% on Thursday on near record flows to liquefied natural gas (LNG) export plants and forecasts for colder weather and higher heating demand over the next two weeks than previously expected.Also supporting U.S. futures, traders noted that European gas prices climbed to a 13-month…
EUROPE GAS - Prices rise due to colder weather forecast and transit concerns in Ukraine
Dutch and British wholesale prices for gas rose on Friday, boosted by cold weather forecasts in January and the fading hope of a new agreement to transit Russian gas via Ukraine. By 0914 GMT, the benchmark front-month contract for the Dutch TTF hub had increased by 1.27 euros to 46.80 euros/megawatt hour or $14.36/mmBtu.
Prices rise on increased demand for electricity and uncertainty about Russian flows
Dutch and British wholesale prices for gas rose on Friday, as a result of a surge in demand from power plants and a decrease in wind speed. There is also uncertainty over Russian gas supplies to Europe due to the imminent end of the Ukraine transit agreement. The benchmark contract for the Dutch TTF hub rose by 0.30 euros to 43.58 euro per megawatt-hour (MWh)…
California sets clear course to close Aliso Canyon Gas Storage Facility
California's utilities regulatory agency on Thursday set out a clear path to potentially close SoCalGas Aliso Canyon's gas storage facility. The regulator prioritized energy reliability and affordability, as the state moves towards cleaner energy. In a press release, the California Public Utilities Commission said that it has set an annual peak natural gas demand of 4,121,000,000 cubic feet.
US LNG Rises 2% on LNG Plant Volume Data
U.S. natural gas futures climbed about 2% on Wednesday on rising flows to the nation's liquefied natural gas (LNG) export plants and expectations utilities pulled more gas out of storage than usual to heat homes and businesses during extreme cold for a second week in a row last week.Analysts, however, projected rising…
EUROPE GAS: Prices firm for cold weather, low winds and Norway outages
Dutch and British wholesale prices for gas were slightly higher on Wednesday morning, as a cold snap and low winds supported demand while unplanned outages reduced some Norwegian supply. At 0911 GMT, the benchmark front-month contract for the Dutch TTF hub had increased by 0.15 euros to 45.70 Euro per megawatt hour or MWh (or $14.08/mmbtu).
