Junior minister: Austria looks to renewables and African gas to reduce US LNG dependency
PARIS, February 18 - Austria wants to increase renewable energy and import more?gas from Africa in order to avoid becoming too dependent on U.S. Liquefied Natural?Gas? as Europe changes its energy supply. As a result of Moscow's invasion of Ukraine in 2022, European countries struggle to maintain affordable electricity prices.
Spain's Naturgy wants to talk with Yamal about the impact of EU's Russian Gas Ban
A senior official at Naturgy said that the company will be holding talks with Russia's Yamal Gas in order to declare force majeure on their long-term contract. This is due to an EU ban on Russian gas imports. In 2013, the Spanish power utility Yamal signed a long-term agreement…
Junior minister: Austria looks to renewables and African gas to reduce US LNG dependency
PARIS, February 18 - Austria is looking to increase renewable energy and gas imports from Africa in order to avoid becoming too dependent on U.S. Liquefied Natural Gas as Europe reshapes its 'energy supply. As a result of Moscow's invasion of Ukraine in 2022, European countries struggle to maintain affordable electricity prices.
Chevron and a consortium of companies sign contracts for gas exploration offshore Greece
On Monday, a consortium led by U.S. oil giant Chevron signed exclusive lease agreements to search for natural gas in southern Greece. This agreement expands the United States presence in the Eastern Mediterranean. The deal will double the amount of Greek marine acreage that is available for exploration.
Data shows that Yamal LNG has resumed transhipments in the vicinity of Murmansk.
LSEG data showed on 'Thursday that Yamal LNG has resumed ship to ship?liquefied gas operations near a port in the Arctic called Murmansk. This could mean a possible resumption for the first time of this winter of fuel exports into Asia. Ship-to-ship allows the company to optimize…
TotalEnergies CEO seeks clarification on EU ban on Russian gas
Patrick Pouyanne, the CEO of TotalEnergies, said on Wednesday that the company is asking both France's?government and EU Commission for clarification on an EU ban against importing liquefied gas from Russia. Pouyanne said in an analyst briefing that it appears that a European company is unable to market Russian LNG.
Low oil and gas prices affect TotalEnergies' profits, so the company has cut back on buybacks but maintained its growth plans.
TotalEnergies said on Wednesday that it would halve its share buybacks in the first quarter, but was committed to increasing its oil and gas reserve. Low oil and 'gas prices have negated the soaring profit of the fourth-quarter from refining fuels and proceeds from stake sales for renewable assets.
Greek joint venture seeking 20-year US Liquefied Natural Gas deal to boost Southern Europe's gas supplies
Atlantic Sea LNG Trade is a joint venture of Greece's gas supplier DEPA and the construction group Aktor. It is currently in negotiations to secure 15 billion cubic metres (bcm), or LNG, from the United States every year for 20 years, to supply southern Europe. Greece is seeking to strengthen its role as a gas transit route into Europe…
The US LNG production was cut in January by the winter freeze; imports from Trinidad filled the gap.
LSEG's preliminary data shows that exports of liquefied gas from the U.S. in January fell to 11.3 million metric tons, down from December’s record of 11.5 MT. A winter freeze in late-January shut some plants while lowering output at others. On January 26, gas flows into U.S. liquefied natural gas plants reached a record low.
Energy Commissioner: EU's Russian import ban is legal and will stop 'blackmail,'
Dan Jorgensen, the EU's Energy Commissioner, told reporters on Monday in Lisbon that the decision to ban Russian imports was "100% legal", adding that it would prevent Russia weaponizing energy. Last week, European Union countries approved a law that will ban Russian gas imports until late 2027.
Electricity Needs for AI, Data Centers May Turn LNG Glut into Gap by 2030
Growing electricity demand from AI and data centres, together with rising fuel use in Asia and European gas needs could turn an expected global liquefied natural gas supply glut into a shortage by 2030, Qatar Energy CEO Saad al-Kaabi said on Monday.LNG coming online between…
Three companies compete for Indian gas company GAIL's tender of US LNG project
Sandeep Kumar Gupta, Chairman of GAIL India, said that three companies were competing to acquire up to 26% in a "liquefied gas project" in the United States. GAIL published a tender last year to purchase up to 26% of an LNG project in America, in conjunction with a 15-year deal for gas imports.
Slovakia files lawsuit against EU ban on Russian Gas Imports
Robert Fico, Slovakia's Prime Minister, said that the country will challenge the European Union?decision taken by a qualified majority to ban Russian gas imports. Slovakia and Hungary were both against the ban on Russian gas imports. The EU wanted to ensure that the ban would be supported by a majority of countries.
German spot prices rise on declining wind production
On Monday, the German baseload contract increased due to a lower supply of wind power and an increase in demand. In contrast, opposite trends are expected for?the nearby regions. LSEG data shows that the German day-ahead power contract was up?25.2% to 135.50 Euros ($160.62 per megawatt hour) at 0911 GMT.
EU countries approve the final Russian gas ban
The European Union gave its final approval on Monday to the bloc's plan that would ban Russian gas imports until?late 2027. This will allow it to become law. This policy gives legal force to the EU's promise to cut off ties with Russia, its former largest gas supplier. It…
China's crude and gas production, refinery throughput in 2025 will reach new heights
Government data released on Monday showed that China's crude oil production and refinery throughput will both reach new highs in 2025, with crude oil growth of 1.5% and 4.1% respectively. National Bureau of Statistics reported that the world's second-largest oil consumer will process 737.59 metric tons of crude oil in 2025.
Malaysia increases gas-fired electricity use in December, as coal dependence falls
Grid operator data shows that Malaysia increased its natural gas-fired electricity generation in December and reduced its reliance on coal. The rising production helped to boost local supply, and also expanded liquefied gas exports. Real-time data provided by Malaysia's Grid Systems Operator (GSO)…
The Dutch benchmark is expected to finish the year 40% lower than last year's price.
The Dutch and British gas wholesale prices were not much changed on Wednesday morning as wind power output curbed gas plant demand. However, the benchmark Dutch contract for the front month of 2025 is expected to be around 40% lower than it was at the beginning of the year.
US Natural Gas Futures Rise Alongside LNG Export Demand
U.S. natural gas futures rose 4% on Tuesday, boosted by record gas flows to liquefied natural gas export plants and forecasts for more demand than previously expected over the next two weeks.Front-month gas futures for January delivery on the New York Mercantile Exchange rose 15.3 cents…
By the end of this year, Ukraine will import 5 billion cubic meters of gas
Ukraine, which has lost more than half its gas production due to Russian missile attacks, had imported 4.4 billion cubic meters (bcms) by December, and planned to import a further 0.6 bcms by year's end, said state energy company Naftogaz on Wednesday. "Our current rate of import is 26 million cubic meters (mcm)…