(Oil Price) – At least six LNG cargoes loaded in the United States and initially en route to Asia have been diverted to Europe as European natural gas prices have rallied in recent weeks while Asian prices drop with weaker demand and high inventories. The diverted U.S. cargoes were initially traveling to Asian buyers in China, South Korea, Singapore, and Thailand.
World Oil (Bloomberg) –Higher natural gas prices and lower shipping rates are increasing the draw of U.S. liquefied natural gas cargoes to Europe over more traditional winter markets in Asia. As of Thursday afternoon, there were 41 U.S. LNG cargoes with either declared destinations in Europe or on a likely path to the natural gas-starved continent, compared with 24 heading
World Oil MOSCOW (Bloomberg) – European natural gas futures jumped, extending their rebound from last week’s slump, as shipments from Russia fell. While Europe’s biggest supplier has promised additional volumes starting next week, gas flows to the region declined over the weekend and again on Monday. Shipments via a key transit route to Poland stopped, with the country receiving gas
World Oil WASHINGTON – In its October Short-Term Energy Outlook, the U.S. Energy Information Administration forecasts that natural gas spot prices at the U.S. benchmark Henry Hub will average $5.67 per million British thermal units (MMBtu) between October and March, the highest winter price since 2007–2008. The increase in Henry Hub prices in recent months and in the forecast reflect
Nasdaq MOSCOW – European gas prices surged to all-time highs on Friday as Russia kept a tight lid on supply, signalling further price pressures on European consumers heading into the winter heating season. Russian gas supplies via the Yamal-Europe pipeline fell on Friday by almost 77% from Thursday, according to data from grid operator Gascade, as Kremlin-controlled Gazprom GAZP.MM booked only a
CNBC DUBAI, United Arab Emirates — Soaring gas prices are the cost of the attempted shift to renewable energy sources, OPEC Secretary General Mohammed Barkindo told CNBC on Tuesday. “I have talked about a new premium that is emerging in the energy markets that I term the transition premium,” Barkindo told CNBC’s Dan Murphy at the Gastech conference in
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