Updated Aug 22, 2024
8/22/24
Natural gas venting and flaring rates by U.S. operators fell to an 18-year low in 2023, based on preliminary state level data gathered by the U.S. Energy Information Administration (EIA).
Algeria’s Sonatrach has signed several agreements this year with foreign investors to help boost the state-owned company’s oil and natural gas output under a plan introduced last year.
Editor’s Note: This column is part of a regular series by industry veteran Brad Hitch for NGI’s LNG Insight dedicated to addressing the complexities of the global natural gas market.
Editor’s Note: This column is part of a regular series by industry veteran Brad Hitch for NGI’s LNG Insight dedicated to addressing the complexities of the global natural gas market.
Algeria is keeping its promise to supply Europe with additional natural gas as the continent continues replacing Russian imports.
Algeria, Europe’s third largest natural gas supplier, is planning to boost LNG and pipeline exports to the continent this year as it continues to wean off Russian supplies.
Italy’s Eni SpA saw its natural gas sales drop by almost a quarter in the third quarter of 2022 compared to year-prior levels, but soaring commodity prices led it to another high profit period as it progresses efforts to replace Russian imports and optimize its LNG business.
Production and capacity issues in Algeria and Nigeria could impact future natural gas pipeline and LNG exports to Europe, complicating buyers’ hopes that contracted supplies can help bridge the gap caused by the shutdown on Nord Stream 1.
Following a supply deal in April, Italy plans to reduce reliance on Russian fossil fuels by investing in Algeria’s natural gas and green hydrogen and by expanding its import infrastructure with two floating storage and regasification units (FSRUs).
Italy’s Eni SpA is expanding partnerships and exploration in some of its existing territories in order to boost natural gas deliveries to Europe.
Eni announced it is working closely with the state-owned Egyptian Natural Gas Holding Co. to increase gas production and liquefied natural gas (LNG) exports from the country, with a specific target of sending more cargoes to Italy.