Norway’s Equinor posts fall in profits as first-quarter pipeline price for Europe drops to under $9.50 per MMBtu
Equinor, the Norwegian LNG exporter and main supplier of pipeline natural gas to Europe, reported a 46 percent drop in net income as oil and gas prices declined, with pipeline gas values falling to under $9.50 per million British thermal units.
European classification society DNV shows surge through September in LNG-fuelled newbuilds as bunker prices drop
European classification society DNV said there were a total of 29 LNG alternative-fuelled vessels added to its the database in August and September as the sector showed continued growth and lower LNG bunker prices in markets like Rotterdam helped to improve the shipping economics outlook.
European Union seeks more LNG imports amid concerns about power-grid resilience caused by renewables
The European Union Agency for the Cooperation of Energy Regulators (ACER), whose responsibilities include assessing the prices of LNG cargoes, said that more LNG imports were needed to help energy security amid raised concerns about power-grid resilience in the 27-nation group and about subsidies making its citizens lax on saving electricity.
Hammerfest LNG plant in northern Norway expected to re-start on June 8 after gas leak fixed and facility checked
Norway's Equinor plans to restart production at the Hammerfest liquefaction and export plant in northern Norway on June 8 after it was shut down on May 31 due to a gas leak.
Asian LNG prices decline along with EU gas values as storage edges higher while Chinese deliveries increase
Asian spot liquefied natural gas prices fell and European wholesale values declined by a bigger margin as the early European Union gas storage build continued at a steady pace, while German import volumes dropped off and China’s deliveries increased.
European and Asian LNG prices fall but logistical costs rise for spot charters and cargo liftings decline
European and Asian natural gas market prices declined and shipping spot charter rates began to gather pace while there were fewer cargoes to lift this week from global export plants.
European and Asian LNG prices drop after brief rebound and more buyers emerge in East of Suez market
Liquefied natural gas prices dropped for Europe and Asia in the past week after a brief rebound with the margin of decline greater for the benchmark Dutch Title Transfer Facility as European Union gas storage withdrawal levels slowed while Asian buyers were attracted by lower prices.
European and Asian LNG market values dip amid high deliveries and ahead of Dutch December price bomb
Natural gas market prices and LNG cargo values declined in the Atlantic and Pacific Basins though stayed at substantial levels as the worldwide supply shortfall was marked this week by a lack of LNG tankers for charter and moderate cargo lifting levels at export plants.
European natural gas and LNG values quoted at $74 per MMBtu as Gazprom Nord Stream set for three-day halt
Russian natural gas deliveries to Germany via the Nord Stream I pipeline, the main route for Russia’s gas exports to the European Union, will be temporarily halted again for three days on the night of Wednesday August 31.
TotalEnergies outlook
July 15 (LNGJ) - TotalEnergies has issued a series of hints about its forthcoming second-quarter earnings statement. “Performance of the gas, LNG and power trading activities is expected to remain high, but without replicating the exceptional contribution of the first quarter of 2022,” said the Paris-based company in a message to the stock exchange.
The company said its average realised LNG price in the second quarter was $13.96 per million British thermal units compared with $13.60 per MMBtu in the first three months of 2022 and $6.99 per MMBtu in the second quarter of 2021. “Upstream production is expected to be lower than in the first quarter, mainly due to disruptions in Nigeria and Libya for security reasons, as well as a higher volume of planned maintenance,” added TotalEnergies.
