Experts say that Russia is struggling to meet its LNG targets
Experts said that due to the international sanctions, Russia's LNG exports will probably not reach 67 million tons by 2030. This is far below its target of 100 million tons. Russia is focusing on developing LNG that can be transported by sea tankers as its gas exports from pipelines to Europe are down due to the conflict in Ukraine. It has also struggled to increase LNG to China. The company plans to increase its market share to the fifth position on the global LNG markets by 2030-2035.
BP plans to add six new gaswells to the Azeri Caspian sea field in order for it continue production.
BP will add six new gas wells in Azerbaijan’s Shah Deniz field in the Caspian Sea in order to maintain stable production for the future, a senior manager from the international energy giant said. BP operates 21 gas-wells in Shah Deniz. This area is being developed by a BP led consortium, and is crucial to Azerbaijan’s commitment to increase gas exports to Europe, offering an alternative to dwindling Russian supply. Azerbaijan will be expected to double their exports to Europe to at least 20 billion cubic meters a year under a deal signed in 2022.
China's tariff retaliation is aimed at its modest US energy imports
China is the largest energy importer in the world, but its purchases of US crude oil, LNG and coal are relatively modest. This reduces the impact of Beijing’s Tuesday move to impose retaliatory duties on the imports of U.S. natural gas, LNG, and crude oil. China's Finance Ministry announced that, on February 10, it will impose tariffs of up to 15% on the imports of U.S. crude oil, LNG, and coal, and 10% on some autos and farm equipment. Data from the U.S. Energy Information Administration revealed that Chinese imports of U.S.
How Trump's tariffs could affect the commodity and energy sector
Donald Trump, the U.S. president, imposed duties on Canada and Mexico of 25% each and China a 10% tax on Saturday. He said the measures were necessary to fight illegal immigration and drug trafficking. Canada and Mexico immediately pledged retaliatory actions, while China announced it would challenge Trump’s tariffs at the World Trade Organization as well as take other countermeasures. Trump's decision has caused volatility on the commodities markets.
Data shows that Russia's gas exported via TurkStream reached a record high in January.
The TurkStream pipeline has allowed Russia to export natural gas via Ukraine at a record-breaking rate of 50 million cubic meters (mcms) per day in this month, according to preliminary calculations released on Friday. After a transit agreement between Moscow and Kyiv that had been in place for five years expired on January 1, the only way to get Russian gas into Europe is through Turkey. The data of the European Gas Transmission Group Entsog revealed that Russian gas exports through TurkStream jumped 26.8% in one year.
Orban: Hungary will block EU Russia sanctions the next time, unless Ukraine gas is transited again.
Hungarian Prime Minster Viktor Orban warned on Friday that he would block the next rollover in EU sanctions against Russia, unless Brussels helped achieve a restart of Russian Gas Transit via Ukraine which was stopped on January 1. Orban said on state radio that Ukraine's decision to stop Russian gas transit into Central Europe, and the price hike that resulted from it, was "unacceptable". The transit agreement expired, and Russian gas exports through pipelines in Ukraine ceased.
Germany builds up LNG import terminals
Germany is expanding its natural gas import options to replace Russian supply, a drive intensified by the latest suspension of Russian flows via Ukraine and U.S. President Donald Trump targeting Europe with liquefied natural gas exports.Plans also include shore-based regasification terminals and facilities to import and produce ammonia and green hydrogen under decarbonization strategies. A synopsis of changes and additions to Germany's energy plans and infrastructure is listed below:MUKRANMukran…
Moldovan PM: EU has provided 30 million euros for Transdniestria gas supply
Moldovan Prime Minster Dorin Recean announced on Monday that the European Union would provide 30 million euro ($31.5million) for the purchase and transportation of natural gas into Transdniestria - the region which has broken away from Moldova. Since January 1, when Russia's Gazprom stopped gas exports into the region citing a Moldovan debt that Chisinau doesn't recognize as valid, Gazprom has left tens of thousands without winter heating or gas. Recean…
Handelsblatt reports that Scholz, Germany's Scholz, welcomes the U.S. energy policy turnaround
The German newspaper Handelsblatt reported that German chancellor Olaf Scholz welcomed U.S. president Donald Trump's plans to increase oil and gas exports. He said it was good for Europe and Germany. Scholz stated in an interview that the move will help with the transition towards climate neutrality. This phase would last until the middle of this century. The chancellor stated that "more supply on the market will mean lower energy prices". Scholz praised Trump's desire to build new terminals of liquefied gas (LNG)…
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. As part of Moscow’s pivot towards the East, the company has now set its sights on increasing gas exports, particularly to China.
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.
What we know about Trump’s executive orders following his swearing-in
Donald Trump will issue a series of executive orders and directions after his inauguration as U.S. President on Monday, to stamp his mark on his new administration in matters ranging between energy and immigration. Two sources familiarized with the plan said that more than 100 orders and directives would be issued on Day One, in a move known as "shock-and-awe". Trump's transition advisers are preparing drafts from which he can choose. It is still unclear which drafts will be released Monday and which ones in the following days.
Argentina negotiates gas imports with Bolivia and Chile after heatwave increases demand
Bolivia and Chile have begun talks to resume gas exports to Argentina, amid a spike in demand sparked by a heatwave this summer. This highlights the challenges facing the government of Buenos Aires in its quest to become self-sufficient in energy. Armin Dorgathen Taia, the head of Bolivia's state energy company YPFB told me by phone on Friday that "we are in a negotiations with Argentina to create a contract spot". These talks were previously unknown.
Executive: Bolivia and Argentina in talks to restart gas supply due to spike in demand
Bolivia's state energy company YPFB has begun talks with Argentina to resume gas exports, amid a spike in demand sparked by a heatwave this summer. This highlights the challenges facing the government of Buenos Aires in its quest to become self-sufficient in energy. Armin Dorgathen Tapiea, the YPFB's chief, told a reporter by phone on Friday that "we are in a discussion with Argentina about creating a spot contract." These talks were previously unknown.
The separatist enclave of Moldova hopes that Russia will soon resume gas supplies
Vadim Krsnoselsky, the leader of Transdniestria, a breakaway region in Moldova, said that it expects to be able to get Russian gas soon, to meet its own needs. This comes after two weeks of crippling power outages. Prime Minister of Moldova's pro European central government, said that Russia is determined to bring a Moscow friendly government into power in the country. He said that Moscow was likely to provide only a small amount of gas to guarantee electricity to both the rebel-held and government-held regions.
The separatist enclave of Moldova hopes that Russia will soon resume gas supplies
Vadim Krsnoselsky, the leader of Transdniestria, a breakaway region in Moldova, said that it expects to be able to get Russian gas soon, to meet its own needs. This comes after two weeks of crippling power outages. Since January 1, when Russia's Gazprom stopped gas exports into the region, Chisinau has refused to recognize the debt Moldova owes Gazprom of $709,000,000 as valid. Moscow has blamed the suspension of gas supply on pro-Western Moldova, and Ukraine.
Leader of Moldova’s separatist region visits Moscow to discuss gas crisis
Transdniestria, the news agency of Transdniestria, reported that on Tuesday the leader of Moldova’s Transdniestria region has traveled to Moscow to hold talks in order to resolve a crisis resulting from the suspension of Russian Gas deliveries. Transdniestria is experiencing widespread power outages since January 1, when Russia's Gazprom stopped gas exports. The company cited an unpaid Moldovan bill of $709 millions that Chisinau doesn't recognize as valid. Moscow has blamed the suspension of gas supply on Moldova and Ukraine.
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 of this deal has stopped a major route for Russian Gas to be shipped into Slovakia and Western Europe.
What we know about Trump’s executive orders following his swearing-in
Donald Trump will issue a series of executive orders and directions after his inauguration as U.S. President on Monday to stamp his presidency in everything from immigration to the energy sector. Two sources with knowledge of the plan said that Trump was preparing an avalanche of executive orders and directions, which could number more than 100 on day one. This is part and parcel of what Trump calls his "shock-and-awe" strategy. Transition advisers are preparing a list of orders that Trump can choose from.
Sandu, the leader of Moldova's separatist area, has said that he travelled to Moscow in response to the gas crisis.
Transdniestria's leader has been to Moscow after the Russian gas supply via Ukraine was suspended, said the President of Moldova on Tuesday. Transdniestria is experiencing widespread power outages since January 1, when Russia's Gazprom stopped gas exports. The company cited an unpaid Moldovan bill of $709 millions that Chisinau doesn't recognize as valid. Moscow has blamed the suspension of gas supply on Moldova and Ukraine. Both countries refused to…
