US natural gas falls below $3 for first time since May 2021
US natural gas futures extended losses below $3 amid mild winter weather that helped spark the worst selloff among the country’s commodities.
Europe
Europe’s New Sanctions on Russian Oil Kick In: What Changes?
After months of planning and negotiations, the biggest tranche of sanctions on Russian oil to date take effect on Monday. How big their impact will be remains uncertain.
Putin’s war leaves West more reliant than ever on Asian fuel
The war in Ukraine is strengthening the role of Asia and the Middle East as the world’s main providers of fuels like diesel and gasoline that are crucial to the global economy.
Global LNG supplies are ‘sold out’ for years, top importer Japan warns
Japan warns that global competition for liquefied natural gas (LNG) is set to intensify over the next three years due to an underinvestment in supply.
Europe’s gas needs a “risk” to Africa’s long-term power demand
Europe’s desire to replace Russian gas with African supplies risks slowing investments into renewables, warns a new report from Think Research and Advisory.
What if Europe ends up with too much gas?
A relentless stream of bad news has kept European gas markets tight and on edge.
Vietnam nears $11bn deal to shift economy from coal
Vietnam is set to follow Indonesia and South Africa with a climate financing package of at least $11 billion to shift its economy away from coal and boost the rollout of renewable energy sources.
Jeremy Cresswell: Strange times for humankind
As humankind drives relentlessly towards climate catastrophe, just a few days ago the International Energy Agency offered a crumb of comfort regarding CO2 emissions.
Kosmos in talks on LNG sales, expanding West African gas
Kosmos Energy is taking steps to ramp up production by 50% by 2024 – and in the longer term scale up its West African gas projects.
Europe gas glut to help ease winter LNG crunch in Asia
Europe’s near-term natural gas supply glut means more fuel for Asia this winter.
Shell CEO says governments need to tax energy firms to help poor
Governments need to tax energy producers to help the poorest people deal with the soaring cost of fuel, said the CEO of Shell (LON:SHEL).
Shell, Aramco heads warn of gas, oil supply squeeze
The lack of fungibility of the gas market is set to pose a major challenge for Europe in the near term, the heads of Saudi Aramco and Shell agreed today.
Nord Stream sabotage compounding ‘European thirst’ for US LNG
Europe has moved swiftly to secure additional gas supplies after explosions hits the Nord Stream pipelines last week.
Rystad: LNG to balance European demand in absence of Russia
Europe can rebalance its gas supply and replace Russian gas imports before 2030, but will have to take some tough decisions on LNG.
‘Bazooka’ of oil preventing Brent Crude price from hitting $200
A “bazooka” of oil from the US reserve, lockdowns in China and a “surprising durability” of production in Russia are preventing Brent Crude oil from hitting $200 a barrel.
European Investment Bank to invest $998 million yearly in Indonesia’s green push
The European Investment Bank (EIB), the bank of the European Union (EU) and the world’s largest multilateral lender, said it is ready to invest up to €1 billion (US$998 million) each year in green and sustainable development projects in Indonesia.
In Europe, the path to net-zero goes through the North Sea
Earlier this month, energy leaders from across the world descended on Stavanger, Norway, for the annual Offshore Northern Seas (ONS) conference.
Russia-driven crisis exposes UK’s energy madhouse
With gas prices now more than five times the cost of a barrel of North Sea benchmark Brent Blend, the outlook for energy across Europe including the UK, is shocking.
China snaps up half-price Russian LNG as Europe shuns supplies
China is lapping up liquefied natural gas (LNG) shipments from Russia on the cheap. The Sakhalin-2 LNG export plant in Russia’s Far East sold several shipments to China for delivery through December at nearly half the current spot price in a tender that closed earlier this week, according to traders with knowledge of the matter.
Woodside to supply LNG to Europe in Uniper deal
Australia’s Woodside Energy (ASX:WDS) will supply liquefied natural gas (LNG) from its global portfolio to Europe, including Germany, starting in January 2023 after signing a flexible long-term deal with Uniper.
Russia delivers huge blow to Europe by keeping key Nord Stream gas pipeline shut
Russia will keep the key Nord Stream 1 gas pipeline to Germany shut, state-owned energy giant Gazprom said on Friday, delivering a massive blow to Europe.
Iran may drain offshore crude oil cache if nuclear deal reached
Progress toward an Iranian nuclear deal has thrown the spotlight onto a sizeable cache of crude held by Tehran that could be swiftly dispatched to buyers in the event an agreement gets hammered out.
Poorer nations face unrest as wealthy countries snap up fuel
Russia’s war in Ukraine has Europe bracing for a tough winter, but the costs are piling up higher in emerging nations as governments struggle to keep energy flowing to citizens hit by surging inflation.
Norway has strategic value to Europe beyond oil and gas
In September 2014 and in the face of mounting uncertainty over Russian gas supplies continuing to be available because of the then conflict over Ukraine, then European Energy Commissioner, Guenther Oettinger, suggested that Norway could play a fundamental role in shoring up EU energy supplies then and into the future.
Should Europe look to the East Med for energy security?
For the first time in decades, we are witnessing an energy crisis the likes of which many of us will have never seen before. Startling levels of volatility across global energy markets are leading governments to implement measures that this time last year would have been unimaginable.