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.
Benchmark European Gas at its highest level in 10 Months due to geopolitical risk
The Benchmark front month contract at the Dutch TTF Gas Hub hit its highest intraday levels in more than ten months Thursday as the Middle East Conflict and reports that North Korean troops were ready to assist Russia in Ukraine kept the traders on edge before the U.S. Presidential election. According to LSEG, the contract for November deliveries reached 42.57 euros per Megawatt Hour (EUR/MWh), its highest intraday value since December 1, at 0945 GMT.
Document shows EU countries want more transparency about Russian gas imports
In a letter to the European Commission on Monday, a group of EU member states including France and the Baltic States asked for tighter reporting requirements across the EU on Russian LNG imports. In June, the EU approved a 14th set of sanctions that included a prohibition on the trans-shipment of Russian LNG in its ports. Moscow has used European ports for transshipment onto other vessels bound for Asia. Imports of Russian LNG were not banned.
Short-take: IEA predicts tight gas supply and record demand in 2025
The International Energy Agency (IEA), on Thursday, said that the world's gas demand would reach a record high in 2025, driven by Asia. However, delays in new liquefied gas (LNG), production, will limit supply. Why it's Important Gas demand in Europe fell dramatically in 2022-23, as prices rose after the Russian pipeline gas supply was cut off due to the conflict in Ukraine. The demand for LNG traded globally increased and Europe was in direct competition with Asian buyers.
Turkey's Botas talks to Iran's National Gas Company for long-term supply
The Turkish energy company Botas announced on Wednesday that they had been in talks with Iran's National Natural Gas Company NIGC about a long-term supply from Iran of natural gas to Turkey. Turkey consumes more than 50 billion cubic meters of gas each year. The country currently imports LNG from different suppliers and relies on a mixture of pipeline gas imported from Russia, Azerbaijan and Iran.
Hungary: EU is not doing enough to reduce Russian gas dependency
Hungary's chief energy security official on Wednesday criticised the European Union for failing to provide enough support in order to help smaller countries, which are landlocked, move away from Russian gas. Csaba Maresvari, Hungary’s deputy state secretary of energy security, said at the Gastech Conference in Houston that landlocked, smaller states like Hungary need more funding to reduce their reliance on Russian Gas.
After a 1-month low, the price of gas in Europe has seen a small increase.
The Dutch and British wholesale prices of gas traded slightly higher on Thursday morning, after having hit a one-month low the day before. This was due to full storages as well as a rising supply of liquefied gas (LNG), which offset fewer pipeline gas deliveries from Norway or Algeria. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub rose by 0.60 euros to 36.25 Euro per megawatt hour or $11.78/mmBtu at 0838 GMT.
Europe Remains Top Destination for US LNG
Europe last month remained the top destination for shipments of U.S. liquefied natural gas (LNG), according to Refinitiv data, outpacing exports to Asia for the second month in a row.About two-thirds of U.S. LNG volumes went to Europe last month, compared to around 61% in December when sky-high European prices and demand drove U.S. LNG exports to a record, Refinitiv data showed.In both months…
Lithuania Seeks Alternative Bids for LNG Import Terminal
Lithuania is seeking alternative bids from providers of floating liquefied natural gas (LNG) terminals to potentially replace its existing import terminal, operator Klaipedos Nafta said on Friday.The Baltic state leases a floating storage and regasification vessel (FSRU) from Norway's Hoegh LNG and has an option to buy it when the lease expires in 2024.The state-controlled Klaipedos Nafta said it had decided to seek alternative bids to make sure that it gets the best terms, a
US LNG Loading Delays Expected as Hurricane Slams Gulf Coast
Loadings of liquefied natural gas (LNG) cargoes from the United States likely will be delayed as a powerful storm strikes the heart of the U.S. oil and gas industry on the Gulf Coast, forcing several LNG plants to shut.Hurricane Laura made landfall early on Thursday in southwestern Louisiana as one of the most powerful storms ever to hit the state, with forecasters warning it could push a wall of water 40 miles (64 km) inland from the sea.
China: BP, ENN Sign 300,000t a Year Gas Supply Deal
British oil major BP has signed a gas supply agreement with China's ENN Group (ENN) for the supply of 300,000 tonnes per year of pipeline gas re-gasified from LNG for two years from January 1, 2021, in Guangdong, China. The LNG will be received and re-gasified through the LNG receiving terminal of Guangdong Dapeng LNG Company Limited (GDLNG) where BP holds regasification capacity. Dev Sanyal…
Global LNG Demand to Double by 2040: Shell
Global demand for liquefied natural gas (LNG), rose by 12.5% to hit 359 million tons last year, according to Royal Dutch Shell’s annual LNG Outlook report.According to the forecast by Shell, LNG demand was expected to double by 2040 to 700 million tons, with natural gas set to play “a growing role in shaping a lower-carbon energy system.”Asia is expected to remain the dominant region in the decades to come…
'Power of Siberia' Pipeline Begins Flow to China
China has started to consume Russian gas via the newly launched "Power of Siberia" pipeline, said CNPC-backed Kunlun Energy Ltd, operator of the pipeline in China, on Wednesday.The company receives 250,000-300,000 cubic meters of pipeline gas daily from Russia, helping to ease tight gas supply in winter season in Harbin, provincial capital of the north-most region Heilongjiang.The 3,000-km (1,864 mile) pipeline, launched in December, is expected to transmit 4.6 billion cubic
PetroChina's oil and gas trade turnover up 5% in 2019
PetroChina Co Ltd, China's leading energy firm, expanded its oil and gas trade in 2019, recording a rise of nearly 5% from prior year to exceed 500 million tonnes oil equivalent, according to a statement posted on the website of parent firm China National Petroleum Co on Thursday.PetroChina International, better known as Chinaoil, the trading arm under the state-run PetroChina, achieved "significant" growth in pre-tax profit last year, the report stated, without providing any
TurkStream Gas Pipeline Launched
The Presidents of Russia and Turkey, Vladimir Putin and Recep Tayyip Erdogan, respectively, officially launched the TurkStream natural gas pipeline designed to ship Russian gas to Turkey and markets in southeastern Europe.TurkStream, which is laid in the Black Sea, is a link between the gas transmission systems of Russia and Turkey. The gas pipeline has two strings with a combined throughput capacity of 31.5 billion cubic meters.
China Expects Balanced Energy Supply/Demand
China's state planner expects this winter's energy supply and demand to be generally balanced amid increasing natural gas output and liquefied natural gas (LNG) imports, state news agency Xinhua reported on Tuesday.Citing unidentified officials from the National Development and Reform Commission (NDRC), Xinhua reported natural gas demand from residential users will grow by more than…
First Commercial Cargo Loaded from Tango FLNG
Argentine oil company YPF SA has loaded its first commercial liquefied natural gas (LNG) cargo for export from a new floating facility, trade sources said on Friday.Argentina's export joins a wave of new supply flooding the spot market which has depressed Asian spot prices to their lowest in a decade for this time of the year.The state-owned firm issued a tender which closed on Nov.
LNG Market Recovers in Q2, Says Flex LNG
During the second quarter 2019, spot liquefied natural gas (LNG) freight rates stabilized and started gradually to recover, says Flex LNG, the owner of LNG carrier vessels and floating storage regasification units (FRSUs).Unseasonably slow demand in Asia over the winter due to fewer heating days caused by warmer weather, and cooler weather than normal in key demand areas early in the…
US LNG plays havoc with Dutch Gas, Asian shipping
Dutch gas prices hit 10-year lows this week, reflecting high European inventories swelled by liquefied natural gas (LNG) imports, testing levels at which companies that committed to buy U.S. LNG will start making serious losses.Prices for month-ahead Dutch gas have dropped by two-thirds since their peak last September of just under 30 euros per megawatt hour (MWh).On Friday, Dutch gas for July delivery slumped to 8.95 euros per MWh…
Equinor Q1 Beats Forecast
Norwegian oil and gas firm Equinor reported on Friday a small fall in quarterly operating profit, beating forecasts, and said its giant Johan Sverdrup oilfield in the North Sea remains on track to start production in November.Earnings before interest and tax (EBIT), adjusted for one-off items, fell to $4.2 billion in the first quarter from $4.4 billion during the same period of 2018, higher than a forecast of $3.9 billion in a Reuters poll of analysts.The company, which has a
