Natural Gas News – APRIL 1, 2020
Natural Gas Markets Beyond COVID-19
Forbes: In a less spectacular fashion than oil, international natural gas prices have fallen. The explanation goes far beyond low demand related to the COVID-19 pandemic or demand in general. It relies on a much larger and more complicated array of factors that include supply and demand and oil pricing. Disentangling those various considerations can be helpful when trying to assess future developments in natural gas trade. In the past, international trade in natural gas was based on mostly pipeline transportation from a limited number of regional, often dominant, suppliers. LNG was expensive and would be shipped only to areas where pipelines were difficult or impossible to build. Given a lack of competitiveness, pricing gas has been a challenge. Thus, even though it is no real alternative to gas, oil and its price has become a reference point (oil-indexing). This changed in recent years. Thanks to technological advances and lower costs of extraction unconventional gas and hydrofracturing) and liquefaction, international oil and natural gas pricing has experienced significant decoupling. For more on this story visit forbes.com or click https://bit.ly/2w4BmIA
Terrorist Attack Halts Iranian Natural Gas Exports To Turkey
Oil Price reports: Iran’s natural gas exports to Turkey were suspended early on Tuesday local time after a pipeline explosion occurred on Turkey’s territory near the Iranian border. According to
Iran’s Mehr News Agency, some sources reported that the blast was the result of a terrorist attack, and it was unclear when Iran’s natural gas exports to Turkey could resume. An Iranian official
told Iran’s state television that it was a terrorist attack that led to the explosion of the pipeline. “This morning, terrorists attacked a natural gas pipeline inside Turkey near Iran’s Bazargan border
with Turkey … Flow of gas has been halted,” Mehdi Jamshidi Dana, Director of National Iranian Gas Company (NIGC) in charge of dispatching, told state TV, as carried by Reuters. According to
Iran’s IRNA news agency, several explosions occurred at the natural gas pipeline on Turkish soil. It was likely that PKK, Kurdistan’s Workers Party, was responsible for the blast, Dana told IRNA. For more on this story visit oilprice.com or click https://bit.ly/3bGgBlI
This article is part of Daily Natural Gas Newsletter
Tagged: COVID-19, Iran, natural gas, Turkey
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