Natural gas markets expected to remain tight into 2023

Russia’s continued curtailment of natural gas flows to Europe has pushed international prices to painful new highs, disrupted trade flows and led to acute fuel shortages in some emerging and developing economies, with the market tightness expected to continue well into 2023, according to the IEA’s latest quarterly Gas Market Report. Natural gas markets worldwide

India buys gas at double price after Russian deliveries get cancelled

India purchased some of the nation’s most expensive liquefied natural gas shipments ever after vital Russian deliveries were cancelled. GAIL India Ltd. bought several LNG cargoes for delivery between October and November at more than double the price it paid around this time last year. The New Delhi-based company is struggling to replace supply from

Energy Transfer agreed to supply LNG to Shell

US. pipeline operator Energy Transfer LP said it agreed to supply 2.1 million tonnes of liquefied natural gas (LNG) per year to Shell Plc for 20 years. The deal for supplies from its proposed Lake Charles, Louisiana, facility comes as demand and prices for LNG are soaring over Russia’s February invasion of Ukraine. LNG prices

Gazprom to shut gas pipeline to Europe for maintenance

Russia’s state-owned energy company Gazprom says a key pipeline conveying natural gas to Europe will shut down for three days at the end of this month to undergo “routine maintenance.” The latest shutdown will come a month after Gazprom restored natural gas supply through the pipeline to only a fifth of its capacity after a

Demand for natural higher than its production

Natural gas demand in major consuming countries stood in June at 104 percent of year-ago levels, but production was flat compared to 2021 levels, new data from the Joint Organisations Data Initiative (JODI) showed. While US natural gas production has been rising in recent months alongside LNG exports, Russian gas production has plummeted since Russia

Uniper may stop using LNG from Woodside

Germany’s Uniper is prepared to swap liquefied natural gas (LNG) it gets from Australia’s Woodside for US gas, so it can boost supplies in Europe more quickly during the coming winter. The strategy reflects efforts by companies and governments across Europe to seek alternative lines of supply and draw up contingency plans for the upcoming

Nippon Steel purchases LNG shipment at most expensive price  

Nippon Steel has purchased a liquefied natural gas shipment at the highest price ever paid in Japan amid growing fears of disruptions of LNG supplies from Russia. The world’s second-largest steelmaker bought an LNG cargo for delivery in September at a price of $41 per million British thermal units (mmBtu), most likely supplied by a

Gazprom cannot guarantee gas deliveries to Europe

Russia’s Gazprom says it cannot guarantee natural gas deliveries to European customers – as its exports to China hit an all-time high. Russia’s Gazprom has tried to claim “force majeure” — or an act of God — in its natural gas contracts with European buyers. Force majeure clauses allow parties to be released from their

Sanctions against Russian gas hit Germany an extra $5.4 billion cost for replacement

According to a report by a German newspaper, Russia’s sanctions against Gazprom Germania and its subsidiaries could cost German taxpayers and gas users an extra 5 billion euros ($5.4 billion) a year to pay for replacement gas. Russia stopped supplying Gazprom Germania, which had been the German subsidiary of Gazprom in May 2002, after Berlin

Banning Russian LNG tough without supply alternatives

Japan’s trade minister said it would be difficult for the Group of Seven nations to ban Russian liquefied natural gas imports unless alternative suppliers can be found. The G-7 nations including Japan have decided to ban or phase out coal and oil imports from Russia as part of sanctions imposed in response to its invasion