Natural Gas News – April 26, 2022
Natural Gas News – April 26, 2022
High LNG Prices Are Here To Stay
In just one year, the global market of liquefied natural gas (LNG) turned from a buyer’s market to a seller’s market, with LNG suppliers commanding a tight market as buyers scramble to secure gas from providers other than Russia. The European Union’s target to diversify gas supplies, speed up the roll-out of renewable gases, and replace gas in heating and power generation in hopes of cutting EU demand for Russian gas by two-thirds before the end of the year has created a global race for spot LNG supply. In this race for LNG supplies, Europe is currently winning over Asia, the traditional outlet for most of the global spot supply. This has not been the case for several months now, even before the Russian invasion of Ukraine, as Europe was plunged into an energy crisis in the autumn of 2021 with low levels of gas… For more info go to https://bit.ly/3Mtz87h
Growing Calls for US LNG to Revive Stalled Export Projects
Rising demand for U.S. liquefied natural gas (LNG) as buyers shun Russian fuel is putting some long-stalled U.S. export projects back on track. But rising material and labor costs threaten to rumble again at these factories. Two developers with projects shelved due to the US-China trade war – Energy Transfer with its Lake Charles LNG and Tellurian Inc with its Driftwood LNG – have started discussions with construction supplier Bechtel Group over costs, according to a spokesperson and a regulatory filing. Material prices have soared 20% in the past two years, while gas compressors are 30% more expensive, construction and energy experts said. Metals needed for LNG projects are in short supply due to Russia’s invasion of Ukraine and could add … For more info go to https://bit.ly/3LvyINm
This article is part of Daily Natural Gas Newsletter
Tagged:
MARKET CONDITION REPORT - DISCLAIMER
The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.
