Articles tagged European LNG demand

NextDecade Corp. CEO Matt Schatzman said this week that the U.S. Court of Appeals for the District of Columbia Circuit’s decision vacating FERC authorization for its Rio Grande LNG project sets a dangerous precedent. The company, he said, is prepared to take “any and all available legal and regulatory actions” to ensure the project isn’t delayed.

Despite efforts to ban Russian natural gas imports, Europe has been taking in more of it as higher spot prices in the Pacific Basin in recent weeks have drawn more American supplies toward Asia.

The Gate LNG import terminal has its first taker for renewable natural gas (RNG) liquefaction capacity at the Netherlands hub as Germany’s largest importer of the super-chilled fuel looks for opportunities to offset its shipping business.

The five-year natural gas transit agreement between Russia and Ukraine is due to expire at the end of the year, halting around 13.7 billion cubic meters (Bcm) of supply the European Union (EU) would need to replace with additional Norwegian pipeline and LNG imports to meet current demand.

Subdued natural gas prices and lower European demand between April and June dinged Paris-based TotalEnergies SE during the second quarter.

Natural gas-fired power generation in Europe declined 16% year/year during the first half of 2024, driven partly by a sluggish recovery in industrial demand across the continent, according to the European Union (EU) energy watchdog.

The UK’s new Labour government won in a landslide election earlier this month and has promoted the island country as a “clean energy superpower,” moving away from the previous government’s emphasis on oil and natural gas.

Worldwide gains in natural gas demand are expected to be marginal for the rest of the year, pushing down LNG spot prices and global gas benchmarks through the later half of 2024, according to the International Energy Agency (IEA).

NO. 1: The Freeport LNG Development LP terminal on the upper Texas coast remained offline on Thursday for the fifth day in a row since it was shuttered on Sunday ahead of former Hurricane Beryl.

U.S. LNG exports are forecast to more than double by 2030 from 2022 levels, with domestic natural gas consumption declining “only slightly” over the next 25 years, according to BP plc.