Russian LNG exports dropped 4.4% year-on-year in January to June, according to data
LSEG's preliminary data on Wednesday showed that Russia's liquefied gas exports in the first six months of this year fell by 4.4% compared to a year ago, reaching 15.2 million metric tonnes. This was despite international sanctions over Ukraine. The United States, in particular, has imposed sanctions against companies and vessels connected to Russia's Arctic LNG 2 plant due to the conflict in Ukraine. This effectively freezes the project as Moscow is unable find buyers. U.S. president Donald Trump said that he wanted the European Union (EU) to buy more U.S.
US LNG Exports Fall in June Amidst Maintenance
U.S. liquefied natural gas exports fell to their second lowest monthly level for the year in June, as maintenance work at some of the country's largest export facilities hurt output, according to preliminary data from financial firm LSEG.The United States, the world's top exporter of LNG, sold 8.4 million metric tons of the superchilled gas during the month, down from 8.9 MT in May and well below April's record of 9.3 MT, LSEG data showed.The reduction in LNG exports was primarily due to seasonal maintenance…
Source: Russian government talks tax relief for Gazprom
A government source revealed on Monday that the Russian government is considering tax reliefs for the energy giant Gazprom. These could be offset by higher taxes on gas producers in general. Novatek and Rosneft, two other major gas producers in Russia, are also listed. Moscow must balance the need for increased military spending in the face of the conflict in Ukraine, with the rising budget deficit as well as providing adequate support to Gazprom which has seen its lucrative sales into Europe fall. Gazprom lost almost $7 billion dollars in 2023.
Canada Produces First LNG For Export
The Shell-led Canada facility has produced its first liquefied natural gas for export in Kitimat, British Columbia, a spokesperson for the project confirmed on Sunday.The new production, which will go mainly to Asia, comes amid concerns over disruptions to the 20% of global gas supply coming from Qatar, due to the Israel-Iran conflict and the possibility of Tehran closing the Strait of Hormuz, a key shipping lane.The facility has not yet loaded its first LNG export cargo…
LNG Canada produces first liquefied natural gas for export
A Shell-led LNG Canada facility in Kitimat has produced the first liquefied gas for export, confirmed a project spokesperson on Sunday. This milestone is in anticipation of LNG Canada loading its first LNG cargo at the facility, which it said will be done by the middle this year. It is also the first major LNG plant in North America to have direct access to the Pacific Coast, thereby reducing the sailing time to Asian markets compared to U.S. Gulf Coast facilities.
LNG Canada produces first liquefied natural gas for export, sources say
Two people who were familiar with the start-up of the plant said on Sunday that the Shell-led LNG Canada has produced its first liquefied gas for export. One of the sources said that "at 4 a.m. This is the first large-scale Canadian project to start production. It's also the first major North American facility with direct access on the Pacific Coast, reducing the sailing time to Asian markets. According to the company, when fully operational, it will be able to export 14 millions metric tons per year (mtpa).
The price of gas in Europe has fallen from its 11-week peak, but Middle East concerns remain dominant
The Dutch and British wholesale prices of gas largely eased Friday morning, after reaching new 11-week-highs on Thursday. However, they remain volatile due to the possibility of an escalation of the Israel-Iran dispute and possible U.S. participation. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell 0.23 euros to 40.05 Euro per megawatt hour by 849 GMT. The contract rose briefly to 41.85 Euros/MWh intraday on Thursday, its highest level in since April 2.
Israel resumes limited gas exports despite ongoing conflict; Egypt still waiting
Israel resumed exports of natural gas from its surplus, according to the Energy Ministry on Thursday. This comes nearly a full week after Israel and Iran engaged in an aerial battle. According to a source in the energy ministry, most of the gas exported is flowing into Jordan and "tiny quantities" have reached Egypt only this week. Egyptian fertilizer producers who had to stop operations because of the disruption in gas supply have said they still haven't received any gas, but are expecting it to return next week.
Canada Could Produce First LNG by This Weekend
Canada could produce its first ever liquefied natural gas this weekend, from the LNG Canada export facility in Kitimat, British Columbia, two people familiar with the startup of the plant told Reuters on Wednesday.The facility, the first of a handful of Canadian LNG projects to begin production, will be the first LNG facility in North America with direct access to the Pacific coast, significantly reducing sail time to Asian markets.When fully operational it will have a capacity to export 14 million metric tonnes per annum (mtpa)…
Prices of EUROPE Gases rise slightly due to expected weakening in wind output
The Dutch and British wholesale prices of gas rose slightly Thursday morning, as the wind output was expected decrease. Also, LNG send-out decreased. According to LSEG, the benchmark Dutch front-month contract for the TTF hub increased by 0.15 euros to 35.95 Euro per megawatt hour at 0837 GMT. The price of August increased by 0.04 euros to 36.19 euro/MWh. The British contract was 0.81 pence more expensive at 84.61 cents per therm. Prices rose yesterday on the back of rising European electricity prices…
Exxon Signs Agreement With Azeri SOCAR to Explore Oil Production
Exxon Mobil and Azeri state energy company SOCAR said on Monday they signed a deal agreeing to explore onshore oil and gas production in Azerbaijan, while BP is expected to buy into new Azeri offshore fields, according to three sources.Azerbaijan's production mainly relies on mature oil fields in the Caspian Sea and the country is aiming to maintain its oil output at around 582,000 barrels per day over the next five years with investment from Western energy companies.At the Baku Energy Week conference…
Azerbaijan’s SOCAR signs agreements for oil exploration with Exxon and BP
Azeri SOCAR, the state-owned energy company of Azerbaijan, signed agreements with Exxon Mobil & BP for oil and natural gas exploration in Azerbaijan at a conference on energy in Baku. According to the U.S. Department of Energy, Azerbaijan's proven oil reserves are 7 billion barrels. Its proven natural gas reserves are 1.7 trillion cubic meters. The country's oil output has been declining for several years after the Azeri-Chirag-Gunashli (ACG) complex of oilfields passed its peak of 50 million metric tons, or 1 million barrels per day, in 2010.
Gazprom's Q1 net profit reaches $8.4 billion
Gazprom, a Russian energy company, reported that its first-quarter net profit rose around 1% from the same period in the previous year. Sales and the rouble's exchange rate were also higher. Gazprom reported that the strengthening of the Russian rouble resulted in a profit thanks to the revaluation its foreign currency debt. Analysts attribute the rouble's rise of more than 40% this year against the dollar to easing tensions with the U.S. government since President Donald Trump returned to the White House…
Turkey will provide Syria with 2 billion cubic meters of gas per year
Alparslan Bayraktar, the Turkish Energy Minister, said that Turkey would provide 2 billion cubic meters of natural gas per year to Syria. Bayraktar, in a joint press conference with his Syrian counterpart at Damascus said that Turkey’s gas exports will contribute to 1,300 megawatts more of electricity production for the country. Ankara is positioning itself for a key role in Syria's rebuilding. It has supported the rebel forces in Syria during the 13-year civil conflict that ended with Bashar al Assad's ouster this month.
Kremlin: Russia and US have begun talks about Russian gas flowing to Europe
A Kremlin official confirmed on Friday that the issue of Russian gas shipments into Europe was being discussed in talks between Russia, and the United States. This confirms an exclusive report from a day before. After the Nord Stream pipes under the Baltic Sea blew up in 2022, Russian gas exports into Europe were slashed. Gas flows through Ukraine halted at the beginning of this year after Kyiv refused a transit contract due to the war. But now, U.S. It is pushing for peace, which could lead to a thaw of gas relations.
TurkStream gas pipeline may slow down EU-Russia decoupling
May 7 - While the European Commission has announced a revised plan to wean Europe off Russian energy completely by 2027, some parts of Europe have taken the opposite approach. The TurkStream pipeline is not only still operating, but has expanded its gas supply. Since the beginning of the conflict in Ukraine, Russian gas exports have dropped dramatically. They went from more than 155 billion cubic meters (bcm), in 2021, to less than 40 bcm by 2024. In the same time period, Russian LNG exports to the EU almost doubled, reaching around 25 bcm.
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. The document…
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".
Shell completes survey of Venezuelan gas field as winding down of license approaches
Shell, the oil and gas company, plans to finish a marine survey of the offshore Dragon gas field in Venezuela before the May deadline set by the United States to close all energy licenses in the country. According to LSEG vessel tracking data, the Colombian-flagged Dona Jose II survey vessel arrived in Venezuela sanctioned by the U.S. this month to collect data for Shell and Trinidad’s National Gas Company. Two sources said that the exploration work…
Yonhap reports that South Korea is seeing Trump start tariff talks with Seoul and Japan, as well as India.
Han Duck-soo, South Korea's acting president, said that Donald Trump, the U.S. president, appeared to have ordered on Monday that talks about tariffs begin immediately with South Korea and Japan, Yonhap News Agency reported. Han said that he also expected a video conference between U.S. officials and South Korean officials to discuss the proposed Alaska LNG Project soon, Yonhap reported. Han, a member of the Economic Security Strategy Task Force, was quoted saying that the acting president had detailed South Korea's position on tariff negotiations with Trump.
