EQT plans to invest in US LNG export facility

EQT Corp. said it may take an equity stake in a liquefied natural gas export project, as it seeks to capitalize on the booming global demand for LNG with Russian threats sending European gas prices swinging wildly. Current US Henry Hub natural gas prices are elevated from historical levels, but delivered LNG prices in Europe

Europe could face a sharp slowdown of growth with Russian gas cut-off

Russia’s suspension of natural gas service to Poland and Bulgaria will not do immediate damage to the European economy, but Europe could face a sharp slowdown of growth if the cutoff spreads to other countries — or if Europe imposes an embargo on Russian gas. Russia’s war on Ukraine is already rippling through Europe, lashing

Germany would plunge in recession, if gas from Russia is stopped abruptly

Germany would plunge into a deep recession if its supply of Russian natural gas was suddenly shut off, the country’s top forecasters warned. The country would lose 220 billion euros ($238 billion) in economic output over the next two years in the event of such a shock, according to a report by five German economic

Biden to waive rule on sale of higher ethanol blend gasoline

President Joe Biden to announce he’ll suspend a federal rule preventing the sale of higher ethanol blend gasoline this summer as his administration tries to tamp down prices at the pump that have spiked during Russia’s war with Ukraine. Most gasoline sold in the U.S. is blended with 10% ethanol. The Environmental Protection Agency will

Germany to ration power to manage gas supplies

Germany triggered an emergency plan to manage gas supplies under which Europe’s largest economy could ration power if a standoff over a Russian demand to pay for fuel with roubles disrupts or halts supplies. Moscow’s insistence on rouble payments for the Russian gas that meets a third of Europe’s annual energy needs has galvanised others

Russia demanding importers to pay in rubles to avoid West sanctions

After being ostracized by Western countries following his invasion of Ukraine, Russia President Vladimir Putin is trying to force the world to reengage with the Russian economy—sanctions be damned—by leveraging the one thing the West still buys from Russia: energy. Putin ordered that gas contracts with “unfriendly” countries—those responsible for sanctions against Russia—be settled in

Europe’s LNG imports won’t fully substitute Russian gas

Europe became the largest customer of US producers of liquefied natural gas recently, taking in more than 50 percent of total U.S. shipments over the last three months. But US LNG, as well as LNG from other sources, would only provide short-term relief. For starters, there are the long-term contracts that all LNG producers in

EU plans to cut energy dependence on Russian gas drastically

The European Commission has outlined a new energy roadmap designed to cut reliance on Russian gas by two-third in just a year, BBC reported. The plan envisages ending reliance on all Russian fossil fuels “well before” 2030. In the short term, gas should be sourced from the US and Africa while some countries may need

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

Europe’s plan to wean itself off Russian gas faster

The European Commission will next week propose plans to reduce Europe’s reliance on imported gas from Russia and make countries’ energy systems more resilient to supply shocks or price spikes. The invasion of Ukraine by Russia, the European Union’s top gas supplier, has sharpened concerns over supply disruptions and increased scrutiny of countries’ reliance on