Natural Gas News- June 23, 2022

June 23rd 2022 (003)

US LNG Projects Goes Ahead as Long-term Buyers Line Up

Mounting concerns over energy security are driving global LNG buyers to
sign long-term supply contracts—revitalizing the outlook for US LNG
projects that have been under development. With Russia’s invasion of
Ukraine exacerbating a tight market for natural gas globally and demand
from Asia expected to remain strong, the world’s growing need for LNG
has shifted the playing field in favor of LNG developers. The turnaround
is particularly striking compared to 2020 when many buyers of US LNG
were cancelling cargoes. Today’s note discusses the strengthened
outlook for US LNG and positive developments in recent months that are
paving the way for additional export capacity.. The strength in LNG
markets has spurred a resurgence in long-term offtake agreements,
which are key to advancing LNG export projects towards Final I… For
more info go to https://bit.ly/3NgBd6g

Factbox: Europe takes action in case Russian gas supply stops

Several European countries are putting plans in place to manage gas
supply and even ration power in case Russian gas flows stop after
supply through the Nord Stream 1 pipeline were curtailed. Russian gas
supply to Europe via the pipeline fell last week and Moscow said more
delays in repairs could lead to suspending all flows. The European Union
has rules to prevent and respond to a disruption in gas supplies. It sets
out three levels of crisis: an early warning, alert and emergency. Member
states are required to have plans in place for how they would manage
the impact of a supply disruption at the three crisis levels. In an
emergency, governments can intervene only if market-based measures
are insufficient to ensure supplies to households and to customers
providing essential services. Aust… For more info go to
https://bit.ly/3NgBd6g

U.S. Oil And Gas Exports Are Fueling Higher Domestic Prices

The U.S. oil and natural gas industry long fought for and in the last
decade finally won release from federal restrictions that limited exports.
The ostensible reason was that because of the so-called “shale
revolution” in the country’s oil and gas fields, the United States would
have plenty of oil and gas to spare for export. The real reason behind the
push was that the oil and gas industry wanted what almost every other
industry in America already had: The right to sell their products to the
highest bidders no matter where they lived on the globe. This made it
almost certain that as U.S. prices rose to match world prices, U.S.
consumers would feel the pain. And, since energy prices affect everyone
who votes, they are always politically consequential. So, it is unsurprising
that with U.S. regular gasoline prices … For more info go to
https://bit.ly/3NgBd6g