Australian LNG exports to Europe likely to increase

Australian exporters could secure new LNG export contracts for existing and new projects to Europe over the next few years as the region seeks to avoid a long-term gas crunch. LNG prices have soared in recent weeks, hitting a six-month high recently, as importers scramble to source new supplies to reduce their dependence on Russia.

Europe looks to Africa to fill the gas gap arisen due to Ukraine war

Russia’s invasion of Ukraine is forcing Europe to diversify its energy supply. “Germany and Europe must now quickly make up for what they have missed over the last twenty years,” Stefan Liebing, chairperson of the Africa Association of German Business, said in a press release. He advises Germany’s Economics Minister Robert Habeck to travel to

Ukraine’s invasion underscores Europe’s deep reliance on Russian fossil fuels

Russian president Vladimir Putin’s decision to send troops into Ukraine spooked energy markets this week, amid fears that the escalating conflict and ensuing sanctions could disrupt global fossil-fuel supplies. Russia is one of the world’s largest producers of petroleum, natural gas, and coal, so any actions that curtail exports could have global ripple effects, pushing

Is Putin’s Ukraine invasion about fossil fuels?

What is the relationship between Russia’s threats to Ukraine and the gas price crisis? Gas prices are soaring globally, largely because of the resurgence of demand for fossil fuels after the Covid-19 pandemic and lockdowns, depleted storage and the difficulty of ramping up supply after the disruptions of the past two years. But prices have

Experts sound the alarm on oil sector’s blue hydrogen push

The oil and gas industry is promoting the use of “low-carbon” hydrogen derived from methane that is potentially dirtier than burning fossil gas for energy, scientists and analysts have told Climate Home News. Observers say the European Commission’s decision to classify gas as a transition fuel in its green investment list leaves the door open

Europe’s biggest banks provide £24bn to oil and gas firms despite net zero pledges

Europe’s biggest banks led by HSBC, Barclays and BNP Paribas have provided £24bn to oil and gas companies that are expanding production less than a year since pledging to target net zero carbon emissions, data shows. Investments to drill new oil wells and tap fresh gas reserves, backed by funds from major banks, appear to

Should Europe use more long term LNG contracts?

The threat of disruptions to Europe’s gas supply from Russia, in the event the West imposes sanctions if Russia invades Ukraine, has prompted a debate about the need for long-term liquefied natural gas (LNG) contracts. The United States has in recent weeks asked Qatar and other major gas producers whether they can send extra gas

Russian gas crisis stokes Europe’s appetite for Russian coal

Russian coal merchants are proving to be the winners as European buyers, nervous a feared Russian invasion of Ukraine could lead to disrupted gas supplies, stock up on the dirtiest fossil fuel. Despite Europe’s ambitions to reduce carbon emissions to net zero by the middle of the century, which means weaning itself off all fossil

US became world’s top LNG exporter

The US became the world’s No. 1 exporter of liquefied natural gas for the first time ever last month, as deliveries surged to energy-starved Europe. Output from American facilities edged above Qatar in December after a jump in exports from the Sabine Pass and Freeport facilities, according to ship-tracking data compiled by Bloomberg. Cheniere Energy

Europe, Africa Bunker Fuel Availability Outlook

Bunker fuel oils are tight for prompt dates with several suppliers in Rotterdam, while ships face bunkering delays from weather suspensions in Malta and Algoa Bay. Longer lead times should be considered for HSFO380 stems in Rotterdam after supply tightened last week. Prompt product is more difficult to source, especially for larger quantities. Backwardation in