Natural Gas News – October 10, 2023
Natural Gas News – October 10, 2023
Loss of Tamar Gas Supplies From Israel To Impact
The loss of imports of Israeli gas from the shut-in Tamar platform is expected to further impact Egypt’s ability to export LNG, International Energy Agency gas analyst Gergely Molnar said Oct. 10. Tamar field operator Chevron was instructed by the Israeli energy ministry to shut in gas production from the offshore platform after Hamas attacks on
Israel on Oct. 7. Egypt imports Israeli gas from both the Tamar and Leviathan gas fields, located in the Mediterranean Sea off the coast of Israel, to help meet its domestic demand and for LNG exports from its two liquefaction plants. Molnar, speaking in a webinar to mark the launch of the IEA’s latest medium-term gas market outlook, said gas markets had reacted in “quite a sensitive manner” to the developments, although other factors, including news of renewed strike… For more info go to https://shorturl.at/FGO09
EU’s Full Gas Storage Doesn’t Eliminate Supply Risks
The European Union has accumulated record amounts of natural gas in its storage facilities and has done so ahead of its own schedule. The news about the advanced fill-up of storage caverns was first announced in August by Brussels with understandable pride. In mid-August, storage was full at 90%, which was the November target. But energy suppliers did not stop there because, as of early October, gas storage in the EU is close to 100% full. There is just one slight problem: it might still not be enough to secure winter gas supply. Last year, European countries saw a milder-than-usual winter for most of the heating season, which was a welcome manifestation of climate change given the concerns about the sufficiency of gas in storage. In the end, much of the gas bought at exorbitant prices dur… For more info go to https://shorturl.at/auPTW
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