Red Sea crisis fails to affect European LNG price trajectory while sustained demand underpins US Henry Hub
European natural gas prices have failed to be influenced by continuing attacks on shipping in the Red Sea in 2024 as weak fundamentals push natural gas price forecasts lower amid soft demand and record storage.
UK’s oil and gas decline to be LNG-reliant continues as pipeline tech company is acquired by Mitsui of Japan
The decline of the UK oil and gas industry with the country being a net importer of oil and natural gas by gas pipelines and as LNG after being a net exporter for over 25 years has been further illustrated by Japan’s Mitsui now taking over UK energy pipeline services and technology specialist STATS.
UK concludes offshore bidding round with 115 bids from 76 companies to help offset LNG and pipeline imports
The UK’s North Sea Transition Authority (NSTA) has concluded its offshore bidding round for oil and gas exploration and production licences as the nation reaches a crisis point in securing future energy needs amid rising deliveries of imported LNG as well as pipeline gas volumes from Norway.
