Natural Gas News – May 24, 2024
Natural Gas News – May 24, 2024
Europe’s Natural Gas Prices Rally Amid Supply Concerns
The Dutch TTF Natural Gas Futures, the benchmark for Europe’s gas trading, hit on Wednesday their highest level since January after Austria’s OMV warned the market that Russian state giant Gazprom could halt natural gas supply to Austria due to a foreign court ruling that could interrupt OMV payments to Gazprom Export. The Austrian
company assured the market that its unit OMV Gas Marketing & Trading GmbH (OGMT) “would still be able to supply its contractual customers with gas from alternative, non-Russian sources, through its extensive diversification efforts over the last several years.” “In March, 93% of Austria’s gas imports came from Russia. While a potential stoppage in these flows could lead to some localized tightening in the gas market, Europe as a whole should manage,”
Warren Patterson and Ewa Manthey… For more info go to https://shorturl.at/UVaPN
Alaskans Sue To Block Proposed Trans-Alaska Natural Gas Pipeline
A group of young Alaskans, backed by an out-of-state nonprofit legal firm, is suing the state of Alaska and the state-owned Alaska Gasline Development Corp. in an attempt to block construction of the corporation’s long-planned trans-Alaska natural gas pipeline. In a complaint filed Wednesday in Anchorage Superior Court, the eight plaintiffs argue that the corporation’s founding laws are unconstitutional because the gas pipeline would result in so much
climate-altering greenhouse gas that it would endanger their constitutionally guaranteed ability to access Alaska’s fish, wildlife and other natural resources. The plaintiffs, who range in age from 11 to 22, are being supported by Our Children’s Trust, a nonprofit that has supported climate-related lawsuits in state and federal courts across… For more info go to https://shorturl.at/iHxq9
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