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☆ Qatar Pauses Red Sea Tankers After Western Strikes on Houthis
▼ + stars: | 2024-01-15 | by ( Jan. | At A.M. | ) www.usnews.com time to read: +3 min

In the latest shift by a major firm, state-owned QatarEnergy has held at least four LNG tankers back from the Red Sea, a senior source said, adding that production continues. On Monday, carmaker Suzuki said production would halt at its Esztergom plant in Hungary from Jan. 15-21 as the Red Sea attacks had delayed the arrival of Japanese-made engines. U.S. ally Britain said it had no desire to be involved in a Red Sea conflict but was committed to protecting the right of free navigation. The Al Rekayyat, which was sailing back to Qatar, stopped along its route on Jan. 13 in the Red Sea. "It is a pause to get security advice, if passing (through the) Red Sea remains unsafe we will go via the Cape," the source told Reuters on Monday about QatarEnergy.

Persons: Andrew Mills, Maha, Maha El Dahan, QatarEnergy, carmaker Suzuki, Britain, Grant Shapps, Qatar's Al Ghariya, Al Huwaila, Al, Ras Laffan, Al Rekayyat, Maha El, Emily Chow, Sachin Ravikumar, Chandni Shah, Andrew Cawthorne, Catherine Evans Organizations: Houthi, Reuters, Qatari Locations: Maha El, Maha El Dahan DOHA, WASHINGTON, Yemen, Gaza, Saudi, Israel, The U.S, U.S, Esztergom, Hungary, Ras, Suez, Oman, Jan, Qatar, Red, Europe, Asia, Aden, Djibouti, Davos, Singapore, Doha, London, Bengaluru

☆ Israel’s fossil fuel boon becomes less clear-cut
▼ + stars: | 2023-10-19 | by ( Yawen Chen | ) www.reuters.com time to read: +5 min

LONDON, Oct 19 (Reuters Breakingviews) - Israel’s growing gas sector has a significance that extends east and west. Analysts at Israel’s Bank Leumi had estimated that exports would jump to at least 11 bcm this year. Israel’s 1,087 bcm of gas reserves in 2022 yielded 21 bcm of production, of which 9 bcm was exported, with a doubling of exports to Israel’s main market, Egypt. Still, Israel’s gas sector has gone from a helping hand to a potential headache. Follow @ywchen1 on XCONTEXT NEWSDutch TTF Natural Gas Futures, Europe’s benchmark gas index, were trading at 48 euros per megawatt hour as of 0823 GMT on Oct. 19.

Persons: –, Yair Lapid, Israel’s Bank Leumi, It’s, NewMed, Abraham, Gaza’s, Isabel Dotzenrath, George Hay, Streisand Neto Organizations: Reuters, United, United Arab Emirates, Israel’s Bank, LNG, Abu, Abu Dhabi National Oil Company, NewMed Energy, Abraham Accords, BP, Natural Gas Futures, Intercontinental Exchange, Chevron, Mediterranean Gas, Oil, Energy, Thomson Locations: United Arab, Israel, Europe, Russia, Egypt, Brussels, Abu Dhabi, Ahli, ’, Jihad, Gaza, Jordan, Denver

☆ Israel ordered Chevron to shut down a major natural gas field, which could send prices spiking further just before winter
▼ + stars: | 2023-10-11 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Israel told Chevron to shut down a major natural gas field, and it's threatening to further spike prices of the fuel. The world's natural gas market has already been rocked by the war in Ukraine and threats of a strike in Australia. Some Israeli gas from Tamar is exported to Egypt, which processes the fuel into LNG that's exported to the EU. AdvertisementAdvertisementBrace for bad news ahead of winter: Natural gas prices could spike as energy giant Chevron halted operations at a major Israeli gas field following orders from authorities. Dutch TTF natural gas futures closed 12.5% higher at 49.455 a megawatt-hour on Tuesday.

Persons: Israel, —, Tamar, Israel isn't, Chevron, It's, Gergely Molnar Organizations: Chevron, EU, Service, Energy, Bloomberg, International Energy Agency, P Global Locations: Ukraine, Australia, Tamar, Egypt, Israel, Houston, Europe

☆ Gas markets are becoming 'extremely difficult' to predict. It's a big problem for Europe this winter
▼ + stars: | 2023-09-12 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

Aerial view of the LNG storage and vaporization vessel "Höegh Esperanza" at the Wilhelmshaven LNG terminal. European gas markets have been constantly fluctuating in recent months, owing to extreme heat, maintenance at gas plants and, most recently, industrial action at major liquefied natural gas (LNG) facilities in Australia. "Gas markets are becoming riskier — gas and LNG prices are increasingly volatile and greatly affected by global factors," Jaller-Makarewicz said. The EU reached its target of filling gas storage facilities to a 90% capacity roughly 2 1/2 months ahead of its Nov. 1 deadline. It means that we've got a pretty good buffer," Malek said, referring to Europe's filling of its gas storage facilities.

Persons: Ana Maria Jaller, seesaw, Makarewicz, Christyan Malek, Malek, CNBC's, we've, Filippo Monteforte Organizations: Getty Images Energy, Workers, LNG, Makarewicz Energy, Institute for Energy Economics, Gas, EU, Gas Infrastructure, International Energy Agency, European Union, Eurasia Group, JPMorgan, Afp, Getty Locations: Wilhelmshaven, Australia, Western Australia, Japan, China, South Korea, Asia, Europe, U.S, skyrocketing, Gas Infrastructure Europe, wean, Ukraine, Eurasia, Tuscany

☆ European gas prices jump 10% as strikes get underway at major LNG facilities in Australia
▼ + stars: | 2023-09-08 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Liquefied natural gas (LNG) storage units at Grain LNG importation terminal, operated by National Grid Plc, on the Isle of Grain on August 22, 2022 in Rochester, England. European gas prices moved sharply higher on Friday as workers at Australian natural gas facilities went on strike, prompting fears that a prolonged halt to production could squeeze global supplies. "Unfortunately, following numerous meetings and conciliation sessions before the Fair Work Commission, we remain apart on key terms," a spokesperson for Chevron Australia said. Fears of strike action in Australia, one of the world's biggest exporters of LNG, have recently pushed up European gas prices — and analysts expect near-term market volatility to persist. European gas prices rose to around 43 euros last month but had pared gains as the two sides sought an amicable resolution.

Organizations: National Grid, Chevron, Chevron Australia, Offshore Alliance, Union Locations: Isle, Rochester , England, Western Australia, Chevron Australia, Australia

☆ An escalating dispute at major gas facilities in Australia could drive up European prices, analysts say
▼ + stars: | 2023-09-06 | by ( Sam Meredith | ) www.cnbc.com time to read: +6 min

Liquefied natural gas (LNG) storage units at Grain LNG importation terminal, operated by National Grid Plc, on the Isle of Grain on August 22, 2022 in Rochester, England. Jacob Mandel Senior research associate for global energy markets at Aurora Energy ResearchFears of strike in Australia, one of the world's biggest exporters of liquified natural gas (LNG), have recently pushed up European gas prices — and analysts expect near-term volatility to persist. Jacob Mandel, senior research associate for global energy markets at U.K.-based consultancy Aurora Energy Research, said the global natural gas market was currently "very tight" and "very little supply flexibility" means that strike action in Australia could send European gas prices higher. He said that European gas prices could climb to above 40 euros ($42.9) per megawatt hour if the strikes go ahead as planned. The front-month gas price at the Dutch Title Transfer Facility (TTF) hub, a European benchmark for natural gas trading, traded at 33.5 euros on Tuesday.

Persons: Dan Kitwood, Jacob Mandel, Mandel, we've, Ramesh, Wheatstone, Henning Gloystein, Gloystein Organizations: National Grid, Getty, CNBC, Chevron, Offshore Alliance, Wheatstone, Fair, Aurora Energy, Aurora Energy Research, videoconference, Rystad Energy, Europe, EU, Eurasia Group Locations: Isle, Rochester , England, Western Australia, Chevron Australia, Australia, Europe, Japan, Korea, wean, Ukraine, Russia

☆ US LNG projects win higher processing fees as interest rates climb
▼ + stars: | 2023-08-30 | by ( Curtis Williams | ) www.reuters.com time to read: +3 min

Snow covered transfer lines are seen at the Dominion Cove Point Liquefied Natural Gas (LNG) terminal in Lusby, Maryland March 18, 2014. REUTERS/Gary Cameron/File Photo Acquire Licensing RightsHOUSTON, Aug 30 (Reuters) - Long-term buyers of U.S. liquefied natural gas (LNG) are willingly agreeing to higher liquefaction fees at newer export projects, according to analysts and developers familiar with the matter. The U.S. emerged in 2022 as the world's second largest LNG exporter on plentiful supplies of natural gas and relatively low processing costs per metric ton of LNG. But rising interest rates and higher construction costs have pushed up liquefaction fees, also known as tolling fees. Other developers are turning to increased equity investment in new projects to reduce the impact of higher interest rates on finance costs, said Poten's Feer.

Persons: Snow, Gary Cameron, Lyle Hanna, Jason Bennett, Baker Botts, Bennett, it's, Jason Feer, NextDecade, Feer, Poten's Feer, Curtis Williams, Marguerita Choy Organizations: REUTERS, Rights, Commonwealth LNG, LNG, U.S, Henry, Poten, Partners, Reuters, of Fossil Energy, Carbon Management, Cheniere Energy, Thomson Locations: Lusby , Maryland, U.S, Ukraine, Rio Grande, Houston

☆ Stocks, yields rise as traders balance China, oil supply
▼ + stars: | 2023-08-21 | by ( Yoruk Bahceli | ) www.reuters.com time to read: +4 min

While disappointment sent Asian shares lower, European shares rose on Monday and U.S. stock futures also pointed to a recovery there. ,Europe's STOXX 600 (.STOXX) index was up 0.7% by 1207 GMT, following last week's 2.3% drop, with energy companies outperforming as oil prices rose with tightening supply from Saudi Arabia offsetting demand concerns. Oil prices rose as much as $1 after snapping a seven-week winning streak last week on concerns about Chinese demand. Bond yields move inversely with prices. The ascent of the dollar and yields was weighing on gold at $1,894 an ounce , after it touched a five-month low last week.

Persons: Fed's Jackson, Susannah Streeter, Hargreaves Lansdown, Europe's, Brent, Jerome, Powell, Seema Shah, Jackson, Nvidia, Yoruk Bahceli, Wayne Cole, Dhara Ranasinghe, David Evans, Mark Potter Organizations: REUTERS, Staff, Treasury, Hargreaves, Global, U.S . Federal, U.S ., Thomson Locations: Frankfurt, Germany, China, Saudi Arabia, U.S ., Atlanta

☆ European gas prices jumped nearly 40% on Australia supply fears — and analysts expect further rises
▼ + stars: | 2023-08-10 | by ( Sam Meredith | ) www.cnbc.com time to read: +2 min

Liquefied natural gas (LNG) storage units at Grain LNG importation terminal, operated by National Grid Plc, on the Isle of Grain on August 22, 2022 in Rochester, England. Energy analysts believe the bullish momentum for European natural gas prices will persist over the coming months after futures jumped almost 40% on Wednesday. Fears over possible supply disruption in Australia saw the front-month gas price at the Dutch Title Transfer Facility (TTF) hub, a European benchmark for natural gas trading, hit its highest level since mid-June on Wednesday. The surge in gas prices came on news of a potential liquefied natural gas (LNG) facility strike at major plants in Australia as workers campaign for higher pay and improved job security. "Looking ahead, we expect the bullish outlook for gas prices to continue with fewer LNG imports to Europe, planned maintenance for Norwegian pipelines and continued heatwaves in multiple regions globally," Luo said.

Persons: Luo Organizations: National Grid, Energy, New York Mercantile Exchange, Rystad Energy, Woodside Energy Group, LNG Locations: Isle, Rochester , England, Australia, U.S, Europe, Chevron, China, Japan

Pressure gauges, pipes and valves are pictured at an "Dashava" underground gas storage facility near Striy, Ukraine May 28, 2015. The bloc is expected to reach a target of filling its storage facilities to 90% full by Nov. 1. "EP Commodities transports natural gas to Ukraine and uses Ukrainian gas storage facilities," Miroslav Hasko, chairman at EPH's EP Commodities, said. EU countries' gas storage facilities were 87% full on Aug. 7, according to transparency platform GIE. "We consider gas storage in Ukraine as one of the interesting business opportunities that we are currently considering," SPP told Reuters.

Persons: Gleb Garanich, Miroslav Hasko, Naftotgaz, Martin Pich, Bruegel, Jan Lopatka, Marek Strzelelcki, Pavel Polityuk, Barbara Lewis Organizations: REUTERS, European Union, Traders, Gas, Reuters, Commodities, Naftogaz, Thomson Locations: Striy, Ukraine, PRAGUE, WARSAW, Czech, Slovakia, Russia, Hungary, Poland, Kyiv

LAUNCESTON, Australia, May 22 (Reuters) - The spot price of liquefied natural gas (LNG) in Asia is in the sweet spot of being low enough to boost buying interest, but not so low that it sparks a surge in demand. The decline in spot LNG prices has seen demand in key Asian importers hold steady, according to data compiled by commodity analysts Kpler. The seasonal softness can be seen in Japan's May imports dropping to an expected 4.24 million tonnes from 5.0 million in April and 5.55 million in March. However, it's likely that the decline in spot prices will only boost demand from June onwards, and there are some early signs that this is already happening. The lower spot price in Asia is also working to boost buying interest in Europe, with May imports expected at 12.28 million tonnes, up a smidgeon from April's 12.27 million.

Shell shares were up 0.8% by 1242 GMT. "In Q1, Shell delivered strong results and robust operational performance, against a backdrop of ongoing volatility," Chief Executive Officer Wael Sawan said in a statement. Sawan, who took the helm in January, told reporters he was focused on narrowing a wide gap in the share performance of Shell and its European peers against their U.S. rivals. Lower natural gas prices in the quarter weighed on Shell's giant integrated gas business, with profits slumping 18% to $4.9 billion. Shell showed "strong operational performance in the quarter across all divisions with oil and gas trading playing a key role," Jefferies analyst Giacomo Romeo said in a note.

REUTERS/Dado Ruvic/IllustrationSummarySummary Companies Shell maintains dividend unchangedAnnounces $4 bln in share buybacksLONDON, May 4 (Reuters) - Shell (SHEL.L) on Thursday posted first-quarter net profit of $9.65 billion, topping analysts' forecasts, as strong earnings from fuel trading and higher liquefied natural gas (LNG) sales offset cooling energy prices. Lower natural gas prices in the quarter weighed on Shell's giant integrated gas business, with profits slumping 18% to $4.9 billion. Shell shares were up 2% by 0830 GMT. Reuters GraphicsPROFITS BEATShell reported adjusted earnings of $9.65 billion in the first quarter, exceeding a company-provided analyst forecast of $8 billion. That compared with earnings of $9.1 billion a year earlier and $9.8 billion in the fourth quarter of 2022, when Shell reported a record annual profit of $40 billion.

SummarySummary Companies Shell, Equinor shares outperform sector indexRivals BP, Chevron, Exxon also beat expectationsOil and gas prices slumped in first quarterShell shares up 2.1%, Equinor up 2.7%LONDON/OSLO, May 4 (Reuters) - Energy giants Shell (SHEL.L) and Equinor (EQNR.OL) reported higher-than-expected first-quarter profits on Thursday, using the heft of their trading desks to offset lower oil and gas prices. The stronger-than-expected profits from the two companies follow forecast beating results from rivals Exxon Mobil (XOM.N), Chevron and BP over the past week. Shell's shares were up around 2.1% in early trading and Equinor shares rose around 2.7%, outperforming a European index of oil and gas companies (.SXEP) which was up around 1%. Benchmark Brent crude oil prices averaged $81 per barrel in the first three months of the year, down 16% from a year earlier and 7% from the fourth-quarter. Lower natural gas prices also weighed on Shell's giant integrated gas business, with profits slumping 18% on the quarter.

☆ EU extends gas price cap system to all EU hubs
▼ + stars: | 2023-03-31 | by ( ) www.reuters.com time to read: +2 min

BRUSSELS, March 31 (Reuters) - The European Commission will extend its gas price cap system to all trading hubs in the European Union from May to prevent potential distortions to Europe's energy markets, it said on Friday. EU countries agreed the cap in December after drawn-out talks over taming gas prices that hit record levels after Russia cut gas deliveries to Europe following its invasion of Ukraine. For now, the cap is triggered if prices exceed 180 euros ($196) per megawatt hour for three days on the Dutch Title Transfer Facility (TTF) gas hub's front-month contract. The TTF price must also be 35 euros/MWh higher than a reference price based on existing liquefied natural gas (LNG) price assessments for three days. This caps the price at which gas can be traded, but the cap can fluctuate alongside global LNG prices - a system designed to ensure EU countries can still bid for gas in global markets.

☆ Peacetime Would Be a Black Swan Event For Energy
▼ + stars: | 2023-02-24 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

The “Russia question,” what role the country’s fossil fuels might play in peacetime, may not be the most pressing issue for energy bosses and the investors backing them. The year since Russia invaded Ukraine has been a roller coaster for energy markets. Oil prices have been volatile, with the global Brent benchmark peaking at $133 a barrel in March before falling back around $80 today—below where they traded on the first day of the war. That is nothing compared with natural gas. After Moscow cut pipeline supplies to Europe, the region’s benchmark TTF day-ahead gas price hit a level equivalent to almost $580 a barrel of oil in late August.

☆ Putin's war in Ukraine brought chaos and change to the global energy market. These 4 charts show how the conflict transformed the oil and gas landscape.
▼ + stars: | 2023-02-24 | by ( George Glover | Zinya Salfiti | ) www.businessinsider.com time to read: +6 min

These four charts show how the war has changed global energy markets over the past year. Here are four charts that capture the most striking changes that took hold in oil and gas markets over the past year. Russia has found other oil buyersBut Russia has still managed to find other buyers for its oil. India too has aggressively ramped up its purchases of Russian oil and now imports 1.2 million barrels each day, according to Vortexa. "The natural gas market has become even more global as demand for liquefied natural gas continues to rise," said Ole Hansen, head of commodity strategy at Saxo Bank.

☆ European natural gas prices hit 18-month low and near parity with crude oil as Vladimir Putin's energy war fizzles
▼ + stars: | 2023-02-17 | by ( Filip De Mott | ) www.businessinsider.com time to read: +2 min

Alternative suppliers and a warm winter have brought European gas prices below 50 euros per megawatt hour. Natural gas prices are now equivalent to $85 per barrel, nearly on par with Brent crude oil at around $83. At the current level, natural gas prices are equivalent to $85 per barrel, nearly on par with Brent crude oil at around $83. In November, Germany signed a 15-year contract with Qatar, a major liquefied natural gas exporter. But further downside to gas prices may be limited as demand looks to pick up.

☆ Europe’s Gas-Price Ceiling Already Shows Cracks
▼ + stars: | 2023-02-16 | by ( Carol Ryan | ) www.wsj.com time to read: 1 min

A mild winter in Europe means gas-storage levels are in good shape. It didn’t take long to find a loophole in Europe’s controversial new gas price cap. The price limit agreed in Brussels last December came into force on Wednesday and restricts the amount the region will pay for natural gas at €180, equivalent to $192, a megawatt hour. It triggers if Europe’s month-ahead TTF gas price—the benchmark in the region—is above this level for three days in a row and is also more than €35 above a benchmark for liquefied natural gas.

☆ Equinor raises energy trading forecast on volatility, flexibility
▼ + stars: | 2023-02-08 | by ( Nora Buli | ) www.reuters.com time to read: +2 min

LONDON, Feb 8 (Reuters) - Norway's Equinor (EQNR.OL) raised its energy trading division's outlook on Wednesday, saying it expects the business to profit from a more flexible asset portfolio and market volatility. Equinor earlier posted record overall profits for 2022, driven by soaring gas prices, sending its shares up 7%. It lifted the adjusted quarterly earnings guidance for its Marketing, Midstream and Processing (MMP) segment to $400 million-$800 million, from $250 million-$500 million previously. Equinor also benefits from having a flexible oil and gas production portfolio and different options for where and when to send its production, she added. Last year's volatility was extreme and Equinor did not expect to see the same geographical spreads, Rummelhoff said.

☆ ICE to open London gas hub, creating route around EU price cap
▼ + stars: | 2023-01-27 | by ( Kate Abnett | ) www.reuters.com time to read: +2 min

ICE hosts trading on the TTF gas hub in Amsterdam and had previously warned it could move the market outside of the EU because of the bloc's looming price cap on gas derivatives. ICE said it would continue to operate the TTF market on its Amsterdam exchange - the most liquid gas futures market in Europe, which sets the region's benchmark gas price - but alongside this, it was preparing to launch another market for TTF futures and options in London on Feb. 20. The London market would not be subject to the 27-country bloc's gas price cap, since Britain is no longer an EU member. EU countries agreed on the gas price cap last year, to attempt to avoid a repeat of the record-high price spikes experienced in 2022 as Russian gas deliveries to Europe dwindled. Analysts have said the EU cap now appears less likely to be triggered, but that price spikes cannot be ruled out.

LONDON, Jan 19 (Reuters) - European Union energy regulators published their first daily liquefied natural gas (LNG) price assessment on Thursday, a first step in the EU's plan to launch a new European LNG benchmark price by the end of March. WHY DOES THE EU WANT A NEW LNG PRICE? Unlike pipeline gas, LNG is not widely traded on exchanges, so there is less visibility on how much the fuel costs. HOW WILL ACER'S LNG PRICE BE DIFFERENT? ACER can only produce a price assessment if it receives at least five transactions in the assessed five-day period.

That outage dropped the United States behind top exporter Australia as global demand for the fuel boomed. In 2022, U.S. exports of natural gas as LNG rose 8% to 10.6 bcfd, just shy of Australia's 10.7 bcfd. The United States remained ahead of Qatar, which in third place shipped 10.5 bcfd, according to data provider Refinitiv. CROWN WITHIN SIGHTHowever, the loss of Freeport LNG's supply at mid-year took away the U.S. chance to take the crown as top exporter in 2022. In 2021, when prices in Asia were higher, just 35%, or about 3.3 bcfd, of U.S. LNG exports went to Europe.

☆ The EU agreed to limit gas prices, but some analysts are skeptical
▼ + stars: | 2022-12-20 | by ( Jenni Reid | ) www.cnbc.com time to read: +6 min

Pipes run along a technical facility for compressing natural gas on the site of astora GmbH's Rehden natural gas storage facility, the largest in Western Europe. He flagged that it could disrupt the European energy market, risk security of supply and have wider financial implications. Analysts told CNBC that these conditions called into question the ability of the mechanism to limit energy price rises. Around 70% of liquefied natural gas (LNG) is tied up in long-term contracts, leaving 30% available on a spot basis. "As it stands, about 20% of Europe's electricity comes from natural gas, 10% comes from coal.

Companies could also move their gas trading off energy exchanges, where the EU price cap will apply, and instead conduct private transactions. The EU cap will not initially cover these "over-the-counter" (OTC) trades, although the bloc will review next year if they should be included. The EU price cap applies to EU hubs, but not those outside the bloc, such as Britain's National Balancing Point (NBP) trading hub. Front-month TTF prices met the price level required to trigger the EU cap on about 40 days this year. EU gas demand dropped by 20% in August-November this year, compared with the five-year average for the same period, Eurostat said on Tuesday.

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