Austrian legal expert believes OMV can end gas contracts with Gazprom
Austrian energy company OMV can legally cancel a contract with Russia's Gazprom that lasts until 2040, according to an Austrian lawyer who was given access the contracts on Wednesday. OMV had been one of the last European buyers of Russian gas after Russia invaded Ukraine on a full scale in 2022. But, on Nov. 16, Gazprom stopped supplies to OMV due to a contract dispute. In a radio interview with ORF…
Sources: Austria's 50-year relationship with Gazprom is ended by the gas seizure
Five sources said that the Austrian group's seizure and payment of Russian gas to cover an arbitration award was what triggered the end of more than 50 years gas flow from Russian state energy company Gazprom to OMV this month. OMV is one of the last remaining gas buyers in Europe, after Gazprom lost most of its European customers in the aftermath of the Russian invasion of Ukraine. Russia was Europe’s largest natural gas supplier before the war.
Freeport LNG liquefaction train at Texas export plant shuts
Freeport LNG reported to state regulators on Thursday that one of the three liquefaction train at its export plant in Texas was shut down on Wednesday. Freeport stated that Train 3 was tripped during operation due to a problem with a lube-oil pump. This caused an emissions event which lasted for more than 11 hour from Wednesday evening until early Thursday morning. The state report did not include any details about the company's plans to restart. U.S.
US natgas exports to LNG plants are on track to reach a 9-month high
According to data provided by financial firm LSEG, the amount of gas going to seven large U.S. liquefied gas export plants is on track to reach a new nine-month record on Thursday. This was due to feedgas reaching multi-week records at a few plants. Energy market is concerned about feedgas flow to U.S. Liquefied Natural Gas plants, because in recent years exports were the largest source of growth for the gas industry. In 2023, the U.S.
EUROPE GAS-Prices firm as temperatures drop
Dutch and British wholesale price rose on Monday morning due to the colder weather forecast. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub rose by 1.00 euros to 43.15 Euro per Megawatt Hour (MWh), which is $13.51/mmbtu by 0921 GMT. The British day-ahead contract increased by 3.00 pence to 109.15 cents per therm. The trader said that although wind power generation is also expected to decline…
EU Energy Ministers Discuss Ukraine Energy Crisis and Russian LNG
Officials said that EU energy ministers met on Tuesday in Luxembourg to discuss the rising Russian LNG imports into the EU, Ukraine's energy shortages before winter and how to equalize energy prices among member states. In June, the EU approved a 14th set of sanctions including a ban of transhipments of Russian Gas as of March of next year. However, it did not impose a complete ban. Belgium and the Netherlands saw a dramatic increase in imports since then.
EU Energy Ministers Discuss Ukraine Energy Crisis and Russian LNG
Officials said that EU energy ministers met on Tuesday in Luxembourg to discuss the rising Russian LNG imports and Ukraine's energy shortages before winter, as well as how to balance energy costs across member states. In June, the EU approved a 14th set of sanctions including a ban of transhipments of Russian Gas as of March of next year. However, it did not impose a complete ban. Belgium and the Netherlands saw a dramatic increase in imports since then.
Gas prices in Europe are falling, but the geopolitical risks remain
The Dutch and British wholesale gas price fell on Tuesday due to increased wind power and a steady Norwegian supply. However, geopolitical tensions continued to support the prices, which are now near their highest level this year. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub fell by 1.29 euros to 39.61 euros per Megawatt Hour (MWh) at 0834 GMT.
Petrobras claims that the Sirius gas field in Colombia could produce 13.3 million cubic metres of gas per day.
Petrobras' exploration general manager Rogerio Soares, who spoke at a conference for the industry on Thursday, said that Colombia's offshore Sirius well could produce 13.3 million cubic metres per day in 10 years. Soares, speaking at the Colombian Petroleum Association (ACP)'s forum on oil and gas in Cartagena, said that the initial concept of Sirius envisioned the first offshore gas production in 2029- 2030.
EUROPE GAS - Prices rise on geopolitical concerns and colder weather
Dutch and British wholesale prices of gas rose on Monday, due to the uncertainty surrounding gas flow, the colder weather forecast at the end the month, and minor delays in Norwegian maintenance. LSEG data show that the benchmark front-month contract for the Dutch TTF Hub was up by 1.03 euros to 35.47 euros per Megawatt Hour (MWH), which is $11.51 mmBtu at 0949 GMT. The day…
As Russia attacks Ukraine's energy infrastructure, the price of gas in Europe is rising.
The Dutch and British wholesale prices of gas closed higher on Monday amid concerns about supply as Russia fired missiles against energy infrastructure in Sumy, a city located north-east Ukraine. LSEG data show that the benchmark front-month contract for the Dutch TTF hub at 1600 GMT was 1.17 euros higher, at 35.37 Euros per Megawatt Hour (MWH), which is $11.81 mmBtu. The benchmark TTF contract fell to its lowest level since July…
Prices for gas in Europe are lower due to steady Russian and Norwegian supplies
The wholesale gas prices in the Netherlands and Britain fell on Thursday morning, as supplies from Russia via Ukraine remained constant. Intercontinental Exchange (ICE) traded the benchmark front-month contract Dutch TTF Hub at 35.40 Euros per megawatt (MWh), down 0.74 euros, by 8:34 GMT. The day-ahead contract on the British market was down 2.28 pence at 85.75 cents per therm. Analysts at ING reported that prices rose on Wednesday due to a mix of supply concerns.
TurkStream Terminal Nears Completion
Gazprom’s Turkish Stream (TurkStream), the natural gas pipeline running from the Russian Federation to Turkey, has been 95% completed."Construction progress of the receiving terminal for the TurkStream Offshore Gas Pipeline has reached 95%. All works are in line with the schedule. First gas is expected to flow by the end of 2019," said a press note from TurkStream said.Direct and indirect employment related to the construction activities is currently over 1,700.
Leviathan Platform Starts Voyage to Israel
The gas platform for the Leviathan natural gas field is on its way to Israel from the Gulf of Mexico, the partners in the project said on Sunday.The first of four barges transporting the production structure units has left Texas and the other three will set sail in the coming weeks. In September, all the units will be installed on the jacket of the platform already in place 10 kilometers from Israel's shore.After connecting the units to the platform…
Feed Gas Introduced at Cameron LNG
Cameron LNG has begun pipeline feed gas flow to the first liquefaction train of the liquefaction-export project as it prepares to begin production of liquefied natural gas (LNG) at the facility in Hackberry, La., according to partners involved in the project. This is the final commissioning step for Train 1 of Cameron LNG Phase 1."We expect to start producing LNG this quarter…
PetroChina Strikes Large Flows in Tarim Exploration Well
PetroChina Co Ltd struck sizeable oil and gas flows in an exploration well in the Tarim basin of the remote northwestern region of Xinjiang, marking a breakthrough in exploring an earlier untapped region, parent CNPC said on Thursday.Zhongqiu-1 well tested a daily natural gas flow of 330,000 cubic metres and 21.4 cubic metres of condensate, a super light crude oil, CNPC said on its news portal news.cnpc.com.cn.The well is located in the southern part of Kuche trough
First Gas from Cuadrilla Fracking Site in Britain
The energy company Cuadrilla Resources has produced first gas from its fracking site in Lancashire in northwest England, after it began fracking operations there just over two weeks ago.The energy company said it has started to see natural gas flow at the Preston New Road exploration well. Despite the volumes being “small” at this stage, Cuadrilla said it was “significant” and showed the potential of the site.The gas returned to surface…
Bad Weather Stalls Bangladesh FSRU Hook Up
A vessel that arrived in Bangladesh in April to offload its maiden cargo of liquefied natural gas and moor permanently as an import terminal should begin operations "within a week" after bad weather hampered its start-up, an official said on Thursday.The floating storage and regasification unit (FSRU) will allow Bangladesh to import LNG for the first time as its domestic gas…
Williams to Put More of Atlantic Sunrise Natgas Pipe in Service
U.S. federal energy regulators on Tuesday approved Williams Cos Inc's request to put in service parts of its nearly $3 billion Atlantic Sunrise natural gas pipeline from Pennsylvania to South Carolina:* The U.S. Federal Energy Regulatory Commission (FERC) said in a filing the new facilities will enable bi-directional flow on Williams' existing Transcontinental Gas Pipe Line…
$500 Mln Loan Approved for TANAP Gas Pipeline Project
The board of the European Bank for Reconstruction and Development (EBRD) has approved a $500 million loan for the Trans-Anatolian Natural Gas Pipeline (TANAP), the largest part of a $40 billion project to bring new gas supplies to Europe. The so-called Southern Gas Corridor is expected to bring around 16 billion cubic metres per year to Europe by 2020 from the Shah Deniz 2 field in Azerbaijan via TANAP through Turkey…
