Europe Faces “Red Alert” For Gas Supply As Russia Reduces Flows

Europe Faces “Red Alert” For Gas Supply As Russia Reduces Flows

The risk of a difficult winter of gas rationing for industries and another surge in energy bills for consumers in Europe just became greater as Russia escalated the gas row with the EU by slashing supply to major customers. Tea significantly lower supply from Russia since last week and the upcoming annual maintenance at Nord … Read more

Qatar Expands LNG Capacity To Become Europe’s Emergency Gas Supplier

Qatar Expands LNG Capacity To Become Europe’s Emergency Gas Supplier

Following on from the recent signing by Qatar of a declaration of intent on energy cooperation with Germany aimed at becoming its key supplier of liquefied natural gas (LNG) going forward, the Emirate has now signed separate partnership deals with France’s TotalEnergies and Italy’s Eni for the US$30 billion North Field (or ‘Dome’) Expansion of … Read more

Ukraine war: Fossil fuel ‘gold rush’ could make global warming irreversible

Ukraine war: Fossil fuel ‘gold rush’ could make global warming irreversible

The Ukraine war has caused a “gold rush” for new fossil fuel projects, threatening to lock us into irreversible global warming, according to leading climate researchers. A new report from Climate Action Tracker (CAT) has found that soaring energy prices in the wake of Russia’s invasion have caused more investment in oil and gas projects. … Read more

US Natural Gas Prices Drop After Explosion At Freeport LNG Terminal

US Natural Gas Prices Drop After Explosion At Freeport LNG Terminal

An explosion at a liquefied natural gas (LNG) export terminal in Texas has sent natural gas prices downward as emergency crews respond and details continue to flow in. At 11:40 am CT, an explosion rocked the Freeport oil and gas export terminal, with emergency response crews on the scene just over an hour later, according … Read more

LNG Tanker Rates Soar To Highest Level In 10 Years

LNG Tanker Rates Soar To Highest Level In 10 Years

Last week we showed that while US nat gas prices have had several catalysts that have propelled them higher in recent weeks, one of the biggest drivers why nat gas is trading at the highest level in over a decade, was the recent surge in LNG exports to Europe as Reuters’ energy expert John Kemp … Read more

Natural Gas Futures Hit 13-Year High As Traders Expect “Blistering Hot Summer”

Natural Gas Futures Hit 13-Year High As Traders Expect “Blistering Hot Summer”

Natural gas futures have hit an 13-year high on higher temperatures to come in the next week combined with lower production levels. On Monday, Henry Hub natural gas futures were up nearly 10% at a 13-year high. At 5:00pm EST, Henry Hub prices for July contracts sat at $9.368, up 9.91%. August contracts were at … Read more

Qatar LNG Output Falls As Desperate Market In Crisis Begs For More

Qatar LNG Output Falls As Desperate Market In Crisis Begs For More

LNG production in Qatar has fallen this year, even with increased calls for the fuel amid an energy crisis in Europe as the bloc attempts to wean itself off Russian gas, Bloomberg reported on Friday. Qatar exported less than 35 million tons of LNG from January to May—a loss of 1 million tons from the … Read more

Europe’s Unquenchable Natural Gas Thirst Is Sending Prices Soaring

Europe’s Unquenchable Natural Gas Thirst Is Sending Prices Soaring

The Henry Hub gas benchmark hit the highest in 14 years on Friday. If this was oil, everyone would be yelling about it. But gas has yet to garner the sort of attention oil receives on a regular basis. Maybe it will soon. Natural gas prices in the United States are breaking record after record … Read more

Europe Is Buying Natural Gas At A Premium To Fill Up Its Storage

Europe Is Buying Natural Gas At A Premium To Fill Up Its Storage

Prohibitively high natural gas prices in Europe have helped the continent stock up on the commodity amid lower consumption, simultaneously motivating more imports, Reuters’ John Kemp reportedmeaning Europe might get its storage caverns full before the next heating season begins. That inventories are filling up faster than previously expected is a rare instance of good … Read more

America’s LNG Giant Cheniere Reports Unexpected Loss

America’s LNG Giant Cheniere Reports Unexpected Loss

Houston-based Cheniere Energy Inc reported an unexpected Q1 loss, but bumped its full-year profit forecast by 17% in its earnings release Wednesday, on the back of soaring LNG demand and natural gas prices. The largest LNG exporter in the United States, Cheniere reported earnings up to $8.7 billion before interest, taxes, depreciation and amortization. That … Read more