2022-06-14 11:40:00
EUROPEAN GAS PRICES UP
BLOOMBERG - June 14, 2022 - European natural gas extended gains Tuesday as fluctuating pipeline flows from Russia stoked supply concerns.
Fears of supply disruptions have persisted for months amid the war in Ukraine, and were compounded last week when a fire broke out at a US liquefied natural gas facility. The start of this week then saw reduced flows from Norway amid outages and limited deliveries from Russia -- Europe’s two largest suppliers.
Russian shipments through the Nord Stream pipeline to Germany are set to swing broadly on Tuesday, nominations show. The link is also scheduled to shut down July 11-21 for seasonal maintenance.
Dutch front-month gas, the European benchmark, rose as much as 2.2% and traded up 1.3% at 84.50 euros a megawatt-hour as of 9:15 a.m. in Amsterdam.
The explosion on June 8 at a Texas LNG export terminal is expected to limit US exports of the fuel in the coming weeks. As three-quarters of its output isn’t under contract, the plant has been a useful alternative source for Europe to fill in any gaps in supply following Russia’s invasion of Ukraine.
Spot cargoes from larger plants such as Sabine Pass, Corpus Christi and Cameron LNG could help supply Europe, Zongqiang Luo, an analyst at Rystad Energy AS, said in a note. “Favorable” spot prices mean countries such as Nigeria and Algeria could increase production to help “fill the void,” he said.
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Earlier:
2022, June, 13, 14:45:00
EUROPEAN GAS UPDOWN
Cuts to Russian supplies in recent months and fears of further curbs have prompted European energy companies to go hunting for new sources of gas to refill storage ahead of the winter.
2022, June, 1, 10:50:00
EUROPEAN BAN ON RUSSIAN OIL
First proposed on May 4, the EU's sixth sanctions package against Russia was designed to ban its crude imports into the bloc within six months and halt flows of its oil products by the year-end to help hit Moscow's oil revenues.
2022, June, 1, 10:30:00
EUROPE ISN'T WITHOUT COAL
The war in Ukraine has triggered a scramble among some countries to buy more non-Russian fossil fuels and burn coal to cut their reliance on Russian supplies.
2022, May, 30, 11:35:00
EUROPEAN ENERGY DEADLOCK
The European Union proposed banning seaborne oil from Russia while delaying restrictions on imports from a key pipeline
2022, May, 25, 10:55:00
EUROPEAN GAS OBLIGATIONS
EU Member States consumed approximatively 400 bcm of gas in 2020 (25% of the EU's primary energy consumption), and they possess a combined gas storage capacity of about 105 bcm (as of 2020).
2022, May, 19, 13:50:00
EUROPEAN ENERGY SUICIDE
Saying no to Russian energy means that Europe will systemically and for the long term become the world’s most costly region for energy resources.
2022, May, 16, 12:10:00
EUROPEAN ENERGY STORM
The energy package due this week may include measures to address the increasing household costs and energy poverty.
