Trump Bets on New European LNG Terminals
U.S. President Donald Trump expects the European Union to fund 9 to 11 liquefied natural gas (LNG) ports to absorb "vastly" more shipments from the United States but current EU investment in new projects will only help open small markets.In a White House press conference with Italian Prime Minister Giuseppe Conte late on Monday…
Nord Stream 2 Partners Rework Funding After Joint Venture Collapses
Western partners in Russia's Gazprom-led gas pipeline extension to Europe are examining alternative ways to fund it after Poland's cartel office blocked its clearance last month, company and legal sources say. Poland's rejection was based on concerns that Gazprom and its partners could bolster their market power, for example…
Dutch Govt to Issue Draft Decision on Groningen
The Dutch government will publish its preliminary view on whether output at Groningen, Europe's largest gas field, needs to be reduced further in about two weeks, a Ministry of Economic Affairs spokesman said on Wednesday. Small earthquakes linked to production have damaged buildings and already forced operators to cut output by nearly a third since 2014 to 27 billion cubic metres (bcm) this year.
Coming Wave of Gas puts Focus on Finding New Shores
Energy giants such as Royal Dutch Shell and Total are looking to build terminals and power plants in new markets to soak up the industry's rapidly burgeoning supply. Companies have invested billions in plants to produce liquefied natural gas (LNG) in places such as Australia and the United States. But gas demand growth is slowing…
US and Russian Gas Exporters Square up over Europe
The first export of U.S. gas to Europe will head for Lithuania, two industry sources say, a gesture to the Baltic states, reliant on Russia for supply, and the likely first shot in a price war over market share in Moscow's backyard. The February delivery will be of U.S. liquefied natural gas (LNG) transported by sea to custom built terminals…
First US Shale Gas Exports to Sail into Oversupplied Market
When Cheniere Energy opened a new liquefied natural gas import terminal in Louisiana in 2008, a U.S. shale drilling boom quickly made it obsolete. Seven years on, with the Houston-based firm about to open a landmark export plant on the same site, the timing, again, is far from ideal. A Reuters analysis shows that a slump…
Russian Gas Discounts Undermine Italy's Quest For New Routes
U.S. As Europe looks to wriggle free of Russia's energy grip, state-backed exporter Gazprom is working to convince Italy to stay the course with offers of cheap gas, potentially locking out rival supply from North Africa, the Caspian Sea and shipped LNG. The race to ring-fence European gas markets from rising competition…
Ukraine Stockpiling Gas, Counteracting Supply Cut
Ukraine's stored gas reserves are sufficient to help meet domestic needs well into the winter months should Russia cut supplies as authorities step up efforts to rebuild inventories. To prepare for any potential disruption, Ukraine's gas transit monopoly Ukrtransgas is packing 850 million cubic metres of gas per week into underground storage sites, largely located in its western territory.
At 3-Year Low, UK Gas Prices Show No Russian Supply Fears
Wholesale spot British gas prices fell to a three-year low on Friday as ample supply and warm weather outweighed fears of possible cuts in Russian supply via Ukraine. Gas for delivery next week dropped to 43.80 pence per therm, the lowest level since September 2011, as temperatures were forecast to rise to more than 4 degrees Celsius above seasonal averages, cutting into demand.
Russia Could Fend off US LNG Plans for Europe
As Russia tightened its grip on Ukraine's Crimea region this month, U.S. and European Union officials were urging the Obama Administration to speed up approvals of more liquefied natural gas (LNG) export terminals. Yet Russian exporter Gazprom's ability to swamp European natural gas markets with supply while depressing prices will make it difficult for as-yet unavailable U.S.
