French Protest Boosted by Wind Production Slump
On Wednesday, the French spot electricity rate for Thursday increased amid lower expectations of wind generation in the entire region. French baseload day-ahead rose by 90% to 38 Euros per megawatt hour (MWh), as of 0819 GMT. The German baseload day-ahead was not traded. The contract was closed at 66.25 euro/MWh on Tuesday.
Increasing US LNG Exports to Catalyze Shale Production Growth
U.S. liquefied natural gas exports will soar by roughly 10% a year through 2030 as energy firms double their LNG production capacity, according to analysts, providing a shot in the arm to the country's maturing shale industry which has seen growth slow and costs rise.The U.S. is the world's largest oil and natural gas producer…
Russell: EU's promise of $250 billion in US energy imports from the US is delusional
The framework agreement with the European Union has strong echoes from Donald Trump's failed deal with China during his first term as U.S. President. Trump and EU Commission president Ursula von der Leyen made the announcement of a 15% tariff for U.S. goods imported from the EU on Sunday at the golf course where the U.S. President plays in Scotland.
Russell: EU's promise of $250 billion in US energy imports from the US is delusional
The framework agreement with the European Union has strong echoes from Donald Trump's failed deal with China during his first term as U.S. President. Trump and EU Commission president Ursula von der Leyen made the announcement of a 15% tariff for U.S. goods imported from the EU on Sunday at the golf course where the U.S. President plays in Scotland.
US gas producer CNX resources increases 2025 production estimate without additional spending
CNX Resources, a U.S. energy company, said in its earnings for the second quarter that it planned to produce more gas than expected this year to meet rising demand and spend the same amount. Two other major U.S. producers of gas, EQT, and Range Resources both announced in their second-quarter earnings…
US gas companies EQT and Range increase output plans for 2025
EQT, a U.S.-based energy company, and Range Resources, a U.S.-based oil company both expect to produce additional natural gas by 2025 in order to meet the rising demand without increasing planned expenditure. Energy analysts predict that demand for liquefied gas for powering data centers and export…
The price of gas in Europe is rising as geopolitical tensions fuel concerns about supply disruption
Dutch and British wholesale prices for gas rose on Monday as markets prepared themselves for Iran's reaction to the U.S. strike on its nuclear sites. They also raised concerns about supply disruptions, higher insurance costs and possible supply disruptions if Tehran closes the Strait of Hormuz. LSEG…
Analysts say that the Vaca Muerta shale is a major factor in Argentina's move towards energy independence.
Rystad Energy analysts stated on Tuesday that the shale gas formation of Vaca Muerta in Argentina will produce a large amount of oil and gas by the first quarter 2025, which is driving the nation to achieve energy independence and its ambitious plans to become a major exporter for liquefied gas.
The report of defects in the French nuclear reactor Civaux 2, lifts European energy market
On Wednesday, the price of front-year baseload contracts in France increased by 8.3% to 68 Euros ($77.76). This was due to a possible report that stress corrosion may have returned at a central France nuclear reactor. The contract reached a new four-month high. The French newspaper La Tribune reported…
German spot contracts trade higher as wind power drops
European spot electricity for Tuesday delivery increased on Monday. German wind power is expected to decline while demand will rise. This will make the country more dependent on imported power. LSEG data shows that the German baseload electricity price for Tuesday at 0951 GMT was 77 Euro per megawatt-hour (MWh), an increase of 8.5% compared to last Monday.
On Monday, France and Germany saw a decline in demand
German and French spot price had not traded on Friday early, while demand in both countries is expected to drop on Monday and renewable output shows divergent trends throughout the region. LSEG data shows that the German and French Monday basis power contracts had not been traded by 838 GMT. LSEG…
German renewables production to remain high Monday
The German and French spot price were not traded on Friday morning, but the persistent solar energy supply and increasing wind power are expected to put pressure on prices on Monday. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 1004 GMT. Guro Marie Wyller…
Gas stocks in Europe could be more stressed this summer due to less hydro and wind.
The wind speed and lower hydropower stock in Northwest Europe could increase demand for gas-fired and coal-fired electricity generation this summer, at a moment when Europe needs to replenish storage that has been depleted following the winter. LSEG data revealed that hydro levels and snowpack are now well below the average levels in continental Europe.
Winter storms in the US could lead to power outages and a reduction of natgas supplies
According to energy analysts, the next few weeks could see massive power outages across the U.S. and a spike in natural gas demand. As a result of the "freeze offs" of oil and gas pipes and wells, the demand for gas is expected to increase. According to the U.S. Energy Information Administration…
Venture Global Louisiana Plaquemines LNG Plant "on track"
U.S. liquefied natural gas (LNG) company Venture Global LNG's Plaquemines export plant under construction in Louisiana was on track to pull in enough natural gas on Friday to produce first LNG, according to data from financial group LSEG and energy analysts.Plaquemines was on track to pull in about 0.16 billion cubic feet per day (bcfd) of pipeline gas on Friday…
US fuelmakers report lower profits in Q3 due to weaker margins and fuel demand
Energy analysts predict that the third quarter profits of U.S. refiners will be lower than last year due to a decline in margins, as fuel demand has slowed and more refining capacity is coming online. After the pandemic, and Russia's invasion in Ukraine, which boosted margins at record levels, refiners are now reversing their favorable pricing and high demand.
Canadian Natural Gas Companies eager to capitalize on the LNG boom flood the market with excess supply
Analysts said that a huge LNG Canada terminal, led by Shell, could struggle to raise Canadian natural-gas prices dramatically when it begins operating next year, because of a glut of supply waiting to be released. Storage was full, and the price of a million British thermal unit (mmBtu), which had been at a high for two years…
ExxonMobil Looks to Sell Australian Assets
Exxon Mobil Corp said on Wednesday it was looking to sell its 50% stake in the Gippsland Basin oil and gas development in Australia's Bass Strait as part of a broader review of its global portfolio of assets.The sale could fetch up to $3 billion, however decommissioning costs for the ageing fields could dent the price tag…
US Natural Gas Demand Nears Record High
U.S. homes and businesses will likely use record amounts of natural gas for heating on Wednesday as an Arctic-like freeze blankets the eastern half of the country, according to energy analysts.Harsh winds brought record-low temperatures across much of the Midwest, unnerving even residents accustomed…
Oil Gains Despite Potential Supply Glut on the Horizon
Oil rose on Thursday, steadying after losing nearly 7 percent over the previous three days, though concern about the prospect of an oversupplied market next year continued to weigh on prices despite OPEC's message that it may cut crude output.The Organization of the Petroleum Exporting Countries (OPEC)…