South and Southeast Asia are tentatively returning to the spot LNG market as prices have dipped from record highs in August to the lowest in nearly two years.
The current optimism in Europe about future energy security is once again based on the wrong assessments. An increasing amount of reports published during the last couple of weeks are warning that if Europe is not getting its act together, it could be facing a possible new energy crisis or at the very least a repeat of very high prices during the winter of 2023-2024.
Europe’s benchmark natural gas prices rose on Wednesday morning for a third consecutive day of gains amid lower LNG supply due to the nationwide strikes in France and expectations of a colder start to April than usual.
The European Union is considering allowing individual member states to block LNG imports from Russia without slapping sanctions on Russian gas, a draft document seen by Bloomberg News showed on Tuesday ahead of a meeting of the EU energy ministers.
New U.S. and Canadian LNG export projects show signs of accelerating but volatile natural gas prices are making bets on future supply and demand difficult, industrial market intelligence provider Industrial Info Resources (IIR) said in new research on Friday.
More than half of Europe’s LNG import capacity could become stranded assets by 2030 as current LNG buildout plans are set to vastly exceed projected demand for liquefied natural gas by the end of the decade, the Institute for Energy Economics and Financial Analysis (IEEFA) said in a new analysis this week.
Taiwan is buying more LNG for delivery over the next year as it closed a nuclear reactor and is set to phase out nuclear power generation by 2025.
Last year, the United States leapfrogged Qatar and Australia to become the world’s largest exporter of liquefied natural gas. This was made possible thanks to the surge in LNG demand from Europe as it urgently sought an alternative to Russian pipeline supply.
A wave of new liquefied natural gas (LNG) export terminals is set to come online in the next few years, and it could have a significant impact on global gas prices.
Developers of U.S. LNG export facilities could launch $100 billion worth of new plants over the next five years as high prices and the need for energy security create strong momentum for long-term LNG demand and contracts.