Natural Gas News – July 5, 2022

Natural Gas News – July 5, 2022

U.S. Natgas Down 7%; Freeport LNG Outage Leaves More Fuel for Storage

For the first time ever, the European Union has imported in June more liquefied natural gas (LNG) from the United States than gas via pipeline from Russia, as Moscow slashed supply to Europe earlier this month, Fatih Birol, Executive Director of the International Energy Agency (IEA), said on Thursday. “Russia’s recent steep cuts in natural gas flows to the EU mean this is the 1st month in history in which the EU has imported more gas via LNG from the US than via pipeline from Russia,” Birol tweeted today, sharing an analysis from the IEA. “The drop in Russian supply calls for efforts to reduce EU demand to prepare for a tough winter,” the head of the Paris-based agency added. The significantly lower supply from Russia since the middle of June and the upcoming annual maintenance at… For more info go to https://bit.ly/3R9Mo46

Norway Ramps Up Natural Gas Production To Combat Energy Crisis

Norway’s authorities have approved applications from operators to boost production from several gas fields, the Norwegian Ministry of Petroleum and Energy said on Monday, expecting record gas sales via pipelines to Europe this year. The ministry heeded applications from operators on the shelf and allowed higher gas production from the Troll, Gina Krog, Duva, Oseberg, Åsgard, and Mikkel fields. The Energy Ministry has also granted a production permit for the Nova gas field, which is expected to start up in the near future The permits for higher gas production mean that Norway is on track to export record volumes of gas through its pipeline system this year, the ministry said. Norway’s decision to allow higher gas production and record gas exports comes as its partners, the EU and the UK, scramble for gas supply… For more info go to https://bit.ly/3R9Mo46