Germany exported around 501 TWh of natural gas in 2022 (749 TWh in 2021). As a result, at 948 TWh, more natural gas was available in Germany in 2022 than in 2021 (902 TWh).

Dutch front-month futures, the European gas benchmark traded 2% higher at to €66.30 per megawatt-hour by 12 p.m. in Amsterdam. The UK equivalent contract also rose. German power for next month increased 2.3% to €166 per megawatt-hour.

The deals come as Japan’s government is reevaluating how it can enhance energy security in the face of a fuel crunch at home. Global LNG supply is slated to remain tight for years, which threatens to increase import costs and add to rising inflation.

"The TTF month-ahead settlement price for derivatives is by far the most widely used benchmark in gas supply contracts across the EU, followed by maturities of two-month ahead and year ahead," it states.

Russian sales of LNG doubled from a year earlier to 852,000 tons in November, despite a 5.4% decline in China’s total purchases of the super-chilled fuel, according to Chinese customs data.

Russia and Iran, under tremendous pressure from sanctions, are turning toward each other—and they’re both looking eastward, too.

Dutch front-month futures, Europe’s gas benchmark were down 1.3% at €114 a megawatt-hour at 8:51 a.m. in Amsterdam.

The deepwater Nargis block is located off the city of Arish on the Sinai Peninsula. It is one of four offshore exploration blocks off Egypt’s coast in which the US group Chevron holds operating interests, alongside with the Egyptian oil company Tharwa Petroleum.

Dutch front-month gas futures, a European benchmark, were 5% lower at €128 a megawatt-hour at 8:40 a.m. in Amsterdam.

According to preliminary data, Gazprom produced 394.1 billion cubic meters of gas from January 1 through December 15, 2022. This is a decrease of 19.6 per cent (or 96.3 billion cubic meters) versus the same period of last year.

Despite Russia slashing gas deliveries this year, Europe has averted a severe shortage and started the winter with brimming gas storage tanks

Countries led by Germany, the Netherlands and Denmark are calling for a cautious approach, while a group including Belgium, Italy, Greece and Poland is pushing for a more aggressive tool to contain gas prices.

The Arctic weather is the first real test of Europe’s resiliency this season as it faces a historic energy crisis, with Russia curbing gas supplies to the region.

The special importance of joint energy projects, primarily in the gas industry, was emphasised. Following the recent talks in Istanbul by Gazprom CEO Alexei Miller the discussion continued of the initiative to create a regional gas hub in Turkiye.

Dry natural gas production in 2022 to set an annual record in the United States, averaging 98.0 Bcf/d.