Russian LNG exports dropped 4.4% year-on-year in January to June, according to data
LSEG's preliminary data on Wednesday showed that Russia's liquefied gas exports in the first six months of this year fell by 4.4% compared to a year ago, reaching 15.2 million metric tonnes. This was despite international sanctions over Ukraine. The United States, in particular, has imposed sanctions against companies and…
RPT-Pakistan is looking to sell surplus LNG in the face of a glut in supply that has slowed down local gas production - Document
According to a presentation by a government official who is familiar with the issue, Pakistan is looking for ways to sell surplus liquefied gas (LNG). This could result in losses of $378 million per year to domestic producers. A second official confirmed that the country imports LNG from Qatar, but has a surplus of at least three cargoes.
Document: Pakistan wants to sell its excess LNG due to a glut of supply that is reducing local gas production.
According to a government official and a presentation, Pakistan is looking for ways to sell surplus liquefied gas (LNG). This could result in losses of $378 million per year to domestic producers. A second official confirmed that the country imports LNG from Qatar, but has three cargoes left over. It has no immediate need for them, so it is selling them at steep discounts.
German spot prices fall on increased wind and French nuclear supply
The wholesale price of German spot power dropped sharply on Friday, as Germany was expected to experience a 60% increase in wind generation in the coming day. In addition, the French nuclear sector increased its availability in the region. "We expect an overall bearish outlook for Germany", said LSEG Analyst Xiulan He.
China doubles 2025 naphtha import quotas, sources say
Six trade sources reported that China issued a second set of import quotas for 2025, which nearly doubled the allocations last year, due to a rise in demand caused by disruptions of U.S. propane and ethane supplies, as well as new cracker startup companies. A source with knowledge of the issue said that the quotas issued in mid-June were extended to ten chemical companies.
EU takes measures to limit ethanol imports by Pakistan
The European Commission ended its tariff preference for imports of non-fuel ethanol from Pakistan. This was in response to EU ethanol producers' concerns that an influx of cheap imports coming from Asia were putting pressure on prices and disrupting markets. In the EU Official Journal, published on Friday, the Commission…
Sources say Canada could produce its first LNG this weekend
Two people who are familiar with the launch of the plant said on Wednesday that Canada could produce the first liquefied gas ever this weekend. This facility will be the only LNG plant in North America that has direct access to the Pacific Coast, reducing the sailing time to Asian markets. According to the company, when fully operational…
The EU's plans to ban Russian gas
The European Commission proposed Tuesday legally binding measures to end the European Union's imports from Russia of gas and liquefied gas by the end 2027. This would put an end to decades-old energy relationships with Europe's ex-top gas supplier. The details of the proposals are below. They still require approval by EU countries and the European Parliament. The ban will be implemented in phases.
Analyst: Ukraine's gas reserves are more than 7 billion cubic meters, according to analysts
ExPro, an analyst, said that gas reserves in Ukrainian storage sites exceeded 7 billion cubic meters (bcm), but remain at their lowest level for the past 11 years. After Russian missiles damaged the production facilities to the east of Ukraine, Ukraine was forced to increase gas imports and withdraw more gas from storage this winter and in the spring.
UK launches investigation into the alleged solar fraud which brought down English council
The Serious Fraud Office in Britain (SFO), announced on Tuesday that it had opened an investigation into the company that sold an investment scheme related to solar farms, which led to a council in England being declared bankrupt by 2022. Thurrock Council in Essex County, eastern England, invested millions between 2016…
Abu Dhabi's XRG aims to reach a gas and LNG capacity of between 20-25 million tonnes per year by 2035
XRG is the international investment arm for Abu Dhabi National Oil Company. The company stated in a Tuesday statement that it aims to have a business of gas and LNG with a production capacity between 20 and 25 million metric tonnes per year by 2035. XRG, a company that invests in lower-carbon energy sources, gases and chemicals with assets exceeding $80 billion, was established last year.
XRG Aims For Gas and LNG Capacity of 20-25 Million Tons a Year by 2035
XRG, the international investment arm of Abu Dhabi National Oil Company (ADNOC), is aiming to have a gas and LNG business with a capacity of between 20 million and 25 million metric tons a year by 2035, the company said in a statement on Tuesday.XRG was set up last year as an investment company focused on lower-carbon energy…
Nigerian oil sector enters new phase of growth thanks to local firms
Nigeria's oil and gas industry is undergoing a major shift as local companies take on a greater role, resulting in a new phase for innovation and growth. The companies that are leading the charge include those who have purchased onshore and shallow-water assets from oil majors, which plan to invest billions of dollars in developing abandoned fields. Even smaller producers are contributing.
Exxon Signs Agreement With Azeri SOCAR to Explore Oil Production
Exxon Mobil and Azeri state energy company SOCAR said on Monday they signed a deal agreeing to explore onshore oil and gas production in Azerbaijan, while BP is expected to buy into new Azeri offshore fields, according to three sources.Azerbaijan's production mainly relies on mature oil fields in the Caspian Sea and the country is aiming to maintain its oil output at around 582…
Ukraine Approves Gas Import Via Transbalkan Pipeline To Avoid High Transit Fees
Ukraine's energy regulator has approved a gas import mechanism that will avoid high transit fees when supplying gas through the Transbalkan pipeline from Greece to Ukraine, the Ukrainian energy ministry said on Tuesday.Ukraine has faced a serious gas shortage since a series of devastating Russian missile strikes this year…
Denmark Plans Offshore Wind Tender With Up to $8.3 Billion Subsidy
Denmark will launch offshore wind tenders with a capacity of three gigawatt (GW), enough to power three million homes, its energy ministry said on Monday, offering subsidies to developers of up to 55.2 billion Danish crowns ($8.32 billion).The three tenders will open in the autumn this year and cover two areas in the Danish North Sea and one in the waters separating Denmark from Sweden.Two tenders
Denmark Plans to Offer Up to $8.3 Billion in Subsidies for Offshore Wind
Denmark's energy ministry announced on Monday that it will offer offshore wind tenders for a maximum of 3 gigawatts (GW), which is enough to power up to three million homes. The subsidies offered to developers could reach as much as $55.2 billion Danish crowns (8.32 billion dollars). Three tenders are scheduled to open this autumn…
Conab reports higher Brazil corn harvest and strong demand for corn ethanol
Brazilian second-corn producers are expected to increase their production by 11% during the 2024/25 growing season, according to Conab. The agency cited good weather conditions in the key growing regions as well as strong demand for corn ethanol from domestic producers. Conab's May crop report states that farmers have completed sowing second-corn.
Hoegh Evi signs a 10-year contract to supply floating LNG to Egypt amid an energy crisis
Hoegh Evi, a Norwegian company, has signed a time charter agreement for ten years with Egypt's EGAS, a state-owned gas firm, to deploy a FSRU (floating storage and regasification units) in the Port Sumed before the end of 2026. The country is scrambling to secure its gas supply amid mounting shortages at home. The Hoegh Gandria…
The EU Parliament supports the relaxation of gas storage regulations
The European Parliament voted Thursday to loosen the EU's regulations on gas storage. It agreed with member states who were concerned that the targets could lead to an increase in energy prices. In 2022, the EU introduced its gas storage regulations to ensure that EU countries have a buffer during winter. This was after Russia had cut off gas deliveries in response to its invasion of Ukraine.
