Document shows that Russia has reduced its estimate of energy export revenue by 15% for 2025.
According to a document from the Economy Ministry, Russia's forecast for oil and gas export revenue for 2025-2027, which is a major source of funding for state budgets, has been cut by 15% due to lower oil prices. This revision will put additional pressure on the budget already burdened by high defense spending for the war in Ukraine. Donald Trump, the U.S. president, said that lower oil prices this year could help to end the war in Ukraine.
Hammerfest LNG Plant in Norway will be closed for maintenance from July until August
Equinor announced that its Hammerfest LNG Terminal, Europe's biggest liquefied gas export facility, was shut down on Tuesday for planned annual maintenance. According to a regulatory document, the maintenance outage, which began at 0400 GMT at the Hammerfest LNG plant (also known as Melkoeya LNG), is expected to last until 10 July. A spokesperson for Equinor confirmed that the company had begun an extensive maintenance shutdown to ensure robust operation for "at least 3 new years".
Asian countries are looking to purchase more US energy in order to balance trade imbalance
As they try to reduce their trade surpluses with Washington, Asian governments are buying more U.S. gas and oil in order to ease their tariff burdens due to President Donald Trump’s new import duties. Many Asian countries have large trade surpluses and also are major energy importers. Trump's tariffs have caused economic and market turmoil. Here are some measures Asian countries will take to increase their purchases of U.S. gas and oil.
Bloomberg News reports that Abu Dhabi's ADNOC is considering a bid for Aethon US natgas assets.
Bloomberg News, citing sources familiar with the situation, reported Friday that Abu Dhabi's state oil company ADNOC was considering a bid to acquire natural gas assets from investment firm Aethon Energy Management, which could be worth up to $9 billion. ADNOC is acquiring a number of companies in the gas and chemical industries, which it sees as important pillars to its future growth. The energy giant…
Mubadala Energy acquires Kimmeridge LNG and gas projects in the US
Mubadala Energy is an arm of Abu Dhabi’s sovereign wealth fund. It signed a deal with Kimmeridge, a US-based energy investor, on Thursday that gives it stakes in American gas assets. This marks its entry into the United States market, as part of the company’s growth plans. Mubadala Energy announced that the deal to purchase 24.1% of Kimmeridge’s SoTex HoldCo would give Mubadala Energy direct access to Kimmeridge’s unconventional gas production and to a Louisiana liquefied gas export project.
Venture Global reports that it exported 29 cargoes of LNG from Plaquemines plant in Q1
Venture Global, a U.S. developer of liquefied gas in Louisiana, exported 29 cargoes during the first quarter 2025 from its Plaquemines plant. The company announced this in a filing to the Securities and Exchange Commission on Thursday. Venture Global reported that it had received an average fixed liquefaction charge of $7.26 for every million British thermal unit (mmBtu), from its Plaquemines Plant, in a filing with the U.S. Securities and Exchange Commission.
The US natgas price is rising due to concerns about Canada tariffs
U.S. Natural Gas Futures rose 10% on Tuesday to a 26 month high, on record flows into liquefied gas export plants. There was also concern that Canadian gas exports could be affected by the tariffs placed on Canada and Mexico by U.S. president Donald Trump. Canada provides about 8% total U.S. demand for gas, including exports. Some of these return to Canada. The U.S. will consume approximately 90.2 billion cubic foot per day (bcfd)…
The US natgas price is rising due to concerns about Canada tariffs
U.S. Natural Gas Futures rose 10% on Tuesday to a 26 month high, on record flows into liquefied gas export plants. There was also concern that Canadian gas exports could be affected by the tariffs placed on Canada and Mexico by U.S. president Donald Trump. Canada provides about 8% total U.S. demand for gas, including exports. Some of these return to Canada. The U.S. will consume approximately 90.2 billion cubic foot per day (bcfd)…
Equinor Norway LNG plant will be off-line March 10-14
According to a Friday regulatory filing, Equinor will shut down its Hammerfest LNG Terminal from March 10 through March 14 to perform "corrective maintenance". This will reduce the daily production capacity from 18.4 millions cubic metres to zero. The Hammerfest plant (also known as Melkoeya LNG) has the ability to deliver approximately 6.5 billion cubic meters of gas each year. This is enough to provide about 6.5 millions European homes and accounts for about 5% of Norwegian gas exports.
Egypt, Cyprus sign gas export deals, boosting Eastern Mediterranean energy cooperation
Egypt and Cyprus signed an agreement on Monday that allows the export of natural gas from Cyprus offshore fields to Egypt, for liquefaction, and then re-export into Europe. Both countries are seeking to strengthen the role of the Eastern Mediterranean as an energy hub. The 2025 Egypt Energy Show deals formalise the long-anticipated plan of linking Cypriot reserves with Egypt's LNG facilities. This…
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. The contract in Britain for March was 0.57 cents higher, at 119.39 cents per therm.
Interfax reports that Gazprom wants to increase the domestic gas price in Russia.
Interfax reported that Gazprom, the Russian gas giant, was trying to increase prices in order to fund investments. The company's sales abroad have plummeted as European buyers are turning away due to the Ukraine conflict. Gazprom suffered losses of nearly $7 billion in 2023. This was its first loss in over 20 years. The decline in gas sales to Europe, which used to be its primary market, is the reason for this.
Russia's proposed gas pipeline to Iran
The Russian President Vladimir Putin announced on Friday plans to build a pipeline to Iran that will eventually transport up to 55 billion cubic meters (bcms) of gas per year into the West Asian nation. Here are some background details about the cooperation between Iran, Russia and the gas sector. Iran is the second largest gas producer in the world after Russia. However, U.S. sanctions are preventing access to technology as well as slowing down gas exports.
Hungary will increase its gas exports to Slovakia starting April
The transmission system operator FGSZ announced on Tuesday that Hungary would increase its gas export to Slovakia from 2.63 billion cubic metres per year to 3.5 bcm by April. Hungary's decision to increase its export capacity to the north follows Ukraine refusing to renew a transit agreement with Russia, as it seeks a reduction in revenue that goes to Moscow for funding the war in Ukraine. The expiration…
Equinor extends Norway LNG Outage by 10 Days
Equinor announced in a Wednesday regulatory filing that it has extended the outage of its Hammerfest LNG facility in Arctic Northern Norway by 10 more days, to January 19, as they continue to repair a faulty compressor. The Hammerfest plant (also known as Melkoeya LNG) has the ability to deliver approximately 6.5 billion cubic meters of gas each year. This is enough to provide about 6.5 millions European homes and accounts for about 5% of Norwegian gas exports. On Jan.
Serica Energy, UK, restarts production on Triton vessel
Serica Energy, a UK-based company, announced on Tuesday that the production of its Triton floating storage and offloading vessel (FPSO) in the North Sea had resumed on December 27. The wells are still being restarted and the process is ongoing to phase-in the new and existing producing wells. It reported that its annual production in 2024 would average 34,600 barrels equivalent per day (boepd), a little below its previous estimate of 35,000-36,000.
Equinor's Hammerfest liquefied natural gas plant closed for a week due to compressor failure
Equinor announced on Thursday that its Hammerfest LNG facility in Arctic Northern Norway suffered an unexpected outage because of a compressor failure. The company said the plant's output was halted for a week. The Hammerfest plant (also known as Melkoeya LNG) has the ability to deliver approximately 6.5 billion cubic meters of gas each year. This is enough to provide about 6.5 millions European homes and accounts for about 5% of Norwegian gas exports.
US Energy Department: Two LNG reviews must be waited for by regulator
The U.S. Department of Energy announced on Tuesday that it will not be able to finish its reviews of two proposed liquefied gas export terminals planned for Louisiana until an independent regulatory agency completes their environmental assessments of these projects. The Department of Energy said that it must wait until the Federal Energy Regulatory Commission (FERC) has completed its work to review…
Serica Energy reduces full-year production forecast due to Triton Outage
Serica Energy, a UK-based company, said Tuesday that it expected full-year production will be lower than previous estimates following an outage in its Triton hub located in the North Sea. Serica stated in a press release that following the suspension of Triton production on October 26, there was an extended outage due to problems with the compression capability for gas export. Last month, the company reported that the Triton floating storage and offloading vessel (FPSO)…
Kremlin claims new U.S. Sanctions are an attempt by the U.S. to halt Russian gas exports
The Kremlin said on Friday that the new U.S. Sanctions on Russia's Gazprombank are an attempt by Washington, to hinder the Russian gas export. However, a solution will be found. Washington imposed new restrictions on Gazprombank Thursday, which prevent it from completing any new energy transactions that could affect the U.S. Financial System. It also banned its trade with Americans as well as freezing its U.S. Assets.
