Natural Gas News- July 21, 2022

July 21st, 2022

Factbox: Could the U.S. Ship More LNG to Europe?

The United States, the world’s top natural gas producer, wants to send
more liquefied natural gas (LNG) to Europe to help its allies break their
dependence on Russian gas after Moscow invaded Ukraine on Feb. 24.
But U.S. exports are limited by the country’s liquefaction capacity and an
ongoing outage at Freeport LNG’s plant after the second-biggest U.S.
LNG export facility was hit by fire in June. Russia, once Europe’s biggest
gas supplier, has already cut exports for various reasons this year,
including the shutdown of pipelines near battle zones in Ukraine and
disputes with customers refusing to pay for gas in roubles. Data provider
Refinitiv said Russia exported around 3.7 billion cubic feet per day (bcfd)
of gas since mid June on the three main lines into Germany – Nord
Stream 1 (Russia-Germany), Yamal… For more info go to
https://reut.rs/3RSGch0

U.S. Regulators to Inspect Shuttered Texas LNG Plant in September

The second-biggest U.S. liquefied natural gas export facility hit by fire
earlier this month will not be allowed to repair or restart operations until
it addresses risks to public safety, a pipeline regulator said on Thursday.
The June 8 blast and fire knocked out Freeport LNG’s 15 million tonnes
per year (mtpa) Quintana plant, exacerbating global LNG shortages amid
reduced gas flows from Russia, while weighing heavily on domestic U.S.
natural gas prices. “Continued operation of Freeport’s LNG export facility
without corrective measures may pose an integrity risk to public safety,
property or the environment,” the U.S. Pipeline and Hazardous Materials
Safety Administration (PHMSA) said in its preliminary report. A problem
with a safety valve led an 18-inch (46-cm) pipe with inner and outer…
For more info go to https://reut.rs/3RSGch0

Technavio: Increase in LNG Supply to Drive LNG Bunkering Market Growth

LNG bunkering refers to providing LNG fuel to a ship for its own
consumption. The need to cut emissions caused by ship transportation
is driving forward the demand for environmentally sustainable marine
fuel such as LNG. Technavio says this has encouraged ports to develop
LNG bunkering facilities. According to Technavio, the global LNG
bunkering market is expected to grow by $755.39 million from 2021 to
2026. In addition, the growth momentum of the market will accelerate
at a CAGR of 19.47 per cent during the forecast period. The increase in
the supply of LNG is driving the growth of the market. As per the IEA, a
rise in the production of natural gas in the U.S. will account for 40 per
cent of the growth in global natural gas output by 2022. By 2022, the US
is expected to produce 890 billion cubic metres,… For more
info go to https://reut.rs/3RSGch0

 

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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.

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