Qatar Extends LNG Force Majeure to Edison, Some Asian Clients
QatarEnergy has extended force majeure notices and will not be able to deliver liquefied natural gas cargoes to Italian utility Edison or some Asian clients as the Strait of Hormuz remains closed, Edison and trading sources said on Monday.Edison, one of the company's biggest customers in Europe, will not receive LNG cargoes until the beginning of December, the Italian group said on Monday, in the latest extension under a force majeure notification first issued in April following disruptions caused by the US-Iran war.Clients in Asia, including in Bangladesh an
IGU Executive: Iran War has caused global gas prices to be tightened due to the prolonged Iran war
A top executive in the industry said that global gas markets will continue to 'pricing out' tight supplies despite the fact that winter is still a long way off. The Iran war has disrupted Gulf liquefied gas exports, and Europe’s efforts to rebuild its gas stocks have been complicated by this. As Europe competes against Asia to secure LNG cargoes, it is also trying to fill up storage facilities ahead of the winter. There are still concerns about the impact of the conflict on Qatar's exports, which is one of the largest LNG suppliers in the world.
Russia's exports of LNG for January-August are up 13.7% on an annual basis
The Arctic LNG 2 project has contributed to a 13.7% increase in Russia's liquefied gas exports in the first eight-month period of 2026. In the first eight month of this year, the same data revealed that the Arctic LNG 2 Project had supplied 2.8 million tons. Total Russian LNG exports in?August rose by 29% on an annual basis to 2.58 millions?tons. Data also revealed that Russian LNG exports to Europe in the period January-August grew 10.7% on an annual basis to 10.3 millions tons.
US LNG exports stagnate in July despite higher LNG price
The 'July rally' in gas prices was not able to be seized by American LNG producers as maintenance and a seasonally lower output kept export volumes virtually unchanged. According to preliminary data, U.S. liquefied gas exports fell to 10,48 million metric tonnes (MT) from 10,6 MT in the previous month. The summer is a time when exporters do maintenance because the warmer temperatures make it harder to supercool gas into liquid form. The year 2018 was no different…
QatarEnergy sources claim that it has purchased 33 US LNG cargoes in order to compensate for the disruption caused by the Hormuz blockade.
QatarEnergy has purchased 33 spot LNG cargoes from the U.S. this year for delivery to South Korea. Taiwan, Bangladesh. India and Japan. Four trade and industry sources confirmed the purchase. The company was attempting to minimize disruptions to its key customers after the Iran War halted Qatari gas exports via the Strait of Hormuz. QE declared force majeure for its LNG shipments when Iran shut down the waterway, causing a 20% shortage of oil and gas from major producers who export from terminals around the Gulf. QE purchased four cargoes of U.S.
Expand Energy, a Natgas producer, beats expectations for the second quarter profit
Expand Energy, the U.S. natural gas producer, beat Wall Street's?estimates of a?second quarter profit? on Tuesday. U.S. producers benefit from the surge in electricity demand for natural gases to power data centres as well as a rise in liquefied gas exports. The company produced an average of?6.9 billion cubic feet per day during the quarter ended in June. This is up from 6.6 bcfepd the previous year. The average price of natural gas was $2.90 for a thousand cubic feet, compared to $2.98 a year ago.
US Russia sanctions bill reduces tariffs on China, India
The U.S. Senate on Tuesday released an updated version of the Russia sanctions legislation, championed?by the late Senator Lindsey Graham. This revised bill eases the original proposal?s?tariff?threat to China, India, and other importers?of Russian oil and gas. The bill, which is supported by both Republican senators and Democratic Senators, aims to impose sanctions against Russian officials, and use tariffs as a way to pressure China and India into reducing their dependency on Russia as a supplier of energy.
US Russia sanctions bill reduces tariffs on China, India
The Republican and Democratic U.S. Senators unveiled a revised version of the 'Russian sanctions legislation' championed by late Senator Lindsey Graham. They sought to impose sanctions on Russian officials, and to use tariffs to pressurize China and India into reducing their dependency on Russian oil and natural gas. Graham, who passed away suddenly on Saturday had announced just one day before that he and Republican?President Donald Trump had agreed to push forward the bill more than a full year after it was first introduced.
Data shows that Russia's LNG imports will increase by 9.9% during the first half of 2026.
The preliminary LSEG data showed that Russia's liquefied gas exports grew 9.9% - in the first half of this year - to 16.6 million metric tonnes, boosted mainly by the growing supply resulting from the new Arctic LNG 2 project. Due to seasonal maintenance, exports in June fell by 1.5% compared to a year ago and 37% compared to May, to 2.03 million tons. This is due to the Asia-oriented Sakhalin-2 facility. According to LSEG ship tracking data, Sakhalin…
BP signs a concession agreement with ADNOC and partners for Bab Gas Cap Project
BP announced on Thursday that it had'signed a concession -agreement' with ADNOC and partners for the development of the Bab Gas Cap Project in the UAE. BP will take a 10% share, marking its first access to Abu Dhabi upstream gas resources. The project will consist of three?reservoirs within the Bab Field onshore and is expected to produce up to 1,5 billion cubic feet per day. BP says that the project will help meet UAE gas and feedstock needs, as well ADNOC's plans to expand liquefied gas exports. ADNOC owns 60% of the concession.
Australian Energy Producers claim that the gas review fails to meet supply goals
Australian Energy Producers' (AEP) Chairman Cecile Wake said on Tuesday that government's review of the gas market falls short of its goal to increase supply. Wake said, "We must not make a false choice" between a well-supplied gas?market at home and a strong industry (liquified natural?gas). This month, following the review first announced in December and a requirement that energy exporters reserve 20% of their gas for Australia’s domestic east coast markets, a final decision was made. Wake is also the Country Chair of Shell Australia.
Revenue for Russian LNG Exports Decreases as Shift to Asia Doubles Costs
Russia's diversification of its liquefied natural gas exports to Asia after the loss of the European market will cut its revenue due to at least a doubling of logistics costs, industry sources and analysts told Reuters.The European Union plans to fully phase out Russian LNG imports from the beginning of 2027 as part of its sanctions pressure on Moscow over the war with Ukraine.In an attempt to regain the initiative, President Vladimir Putin said early…
Italy and Libya discuss enhancing energy ties
Giorgia?Minister Meloni, Italian Prime Minister and her Libyan counterpart Abdulhamid Dbeibah met on Thursday to discuss strengthening the energy cooperation. This comes at a moment when Italy is trying to diversify its energy supply due to the turmoil that has been occurring in the Gulf. The U.S. and Israeli war against Iran has sparked a surge in global fuel prices. This is especially true for Italy. Meloni's Rome office reported that the leaders discussed ways to?further strengthen the already solid bilateral collaboration…
Data shows that Russian LNG exports increased by 8.6% from January to April.
The preliminary LSEG data on Tuesday showed that Russia's liquefied gas exports grew 8.6% from January to April to 11.4 millions metric tons compared to the same period last year. This was due to the supplies from the Arctic LNG 2 Project, which reached a million tons during the first four month of this year. U.S. sanctions against Moscow for the Ukraine conflict has slowed Russian LNG exports. This is especially true at the Arctic LNG 2, where operations have been hampered due to a lack of buyers.
SLB and Baker Hughes expect oil exploration expenditure to rise as the Iran war disrupts supplies
SLB and Baker Hughes, two of the top oilfield service companies, said Friday that they expected to spend more on oil exploration and production as the Middle East conflict has impacted?global oil supplies, highlighting a?need? for investment. This is especially true in North America. The U.S. and Israeli war against Iran has halted the flow of 20% of world oil through the Strait of Hormuz, which is now closed. This has also shut down 9 million barrels of oil production per day. As a result, Asian and European countries are scrambling to find supplies.
Azerbaijan’s state oil fund SOFAZ reduces gold share of portfolio to 35.6% during Q1
Azerbaijan’s sovereign oil fund SOFAZ has 'cut the share of gold in its investment portfolio from 38.2% to 35.6% in the first quarter of 2026, down from 38.2% by the end of the year 2025. SOFAZ has sold 21.9 tonnes gold in the first quarter. This brings its total gold reserves down to 178.1 tonnes, from 200 tonnes. This was still a significant increase from the gold holdings of the fund at the end Q1 of last year, when they accounted for?165.3 tons, or 25.8%, of the portfolio.
Eni and Repsol are still in talks about Venezuelan gas exports. No deal yet
Italian energy group Eni announced on Monday that it is in talks with Spanish counterpart Repsol and Venezuela's state-owned PDVSA about terms of potentially exporting natural gas from Venezuela's Cardon IV oil field. A spokesperson for Eni confirmed that talks are underway between Eni and?Repsol regarding the conditions and potential of?gas exports through the Cardon IV Project. However, the deal has not been finalised. Repsol refused to comment. Bloomberg News reported on?Monday?
As traders monitor progress in US-Iran negotiations, the price of EUROPE GAS is on the rise.
Dutch and British prices on Thursday morning reduced a portion of their previous session's loss, as the market awaited more updates on Middle East peace negotiations and the potential reopening of Strait of Hormuz. Data from the Intercontinental Exchange showed that the benchmark Dutch front-month contracts at the TTF hub were up 0.81 euros at 42.21 Euro per megawatt hour by 8:20 GMT. The last session closed with a 4.5% decrease. Prices started a little lower and briefly hit?40.85 euro/MWh. This was the level seen six weeks ago at the beginning of the U.S.
Sources say that RPT-Italy will get LNG from QatarEnergy's US Golden Pass in June
Two sources with knowledge of the matter have confirmed that Italy will start receiving liquefied gas (LNG), from a facility called 'Golden Pass LNG,' in the United States. This is a joint venture between QatarEnergy, Exxon Mobil and other companies. Two sources familiar with the LNG market have said that the LNG tankers coming from the United States would help Italy fill a potential supply gap caused by disruptions in Qatar due to the U.S./Israeli war on Iran.
Sources say that Italy will get LNG from QatarEnergy's US Golden Pass in June.
Two sources with knowledge of the matter have confirmed that Italy will start receiving liquefied natural gas (LNG), from the Golden Pass LNG plant in 'the United States. This is a joint venture between QatarEnergy & Exxon Mobil. Sources with knowledge of the LNG markets said that the?LNG?tankers coming from the United States would help Italy fill a potential supply gap caused by disruptions in Qatar due to the U.S./Israeli war on Iran. The United States already supplies LNG to Italy…