Shell Says ‘Seasonality’ Limited Second Quarter Natural Gas Trading – The Offtake
A roundup of news and commentary from NGI’s LNG Insight
A roundup of news and commentary from NGI’s LNG Insight
Venture Global LNG Inc. has agreed to supply a state-owned German company with the super-chilled fuel for two decades as European offtakers continue to line up deals to replace Russian natural gas imports.
Global natural gas prices are starting to tick upward once again as maintenance events and warmer weather appear to signal more demand for LNG, but analysts are warning a bearish summer could still lie ahead.
Germany’s government continues to face criticism from environmental groups for its ambitious LNG import capacity plans and for supporting natural gas at the recent G7 meeting in Japan.
Germany’s government is moving to site another floating storage and regasification unit (FSRU) as the volume of U.S. natural gas entering the country reaches new heights.
Heads of state from the Group of Seven (G7) economically advanced nations emphasized the need to “accelerate the phase out of our dependency on Russian energy” in a statement this weekend at the conclusion of a summit held in Hiroshima, Japan.
Uniper SE recorded no losses in the first quarter related to replacing natural gas supplies that were cut off by Russia last year, and the company expects a “strong earnings recovery” after being bailed out by the German government in 2022.
The European Union’s (EU) plans to significantly increase LNG import capacity continues to draw mixed opinions and raise concerns over whether the expansion would conflict with decarbonization targets and aspirations to dramatically boost renewable energy supplies this decade.
Germany’s Uniper SE and Finland’s Fortum Ojy disclosed Russia has seized their subsidiaries in the country and placed them under federal control.
Germany’s group of storage operators is warning that natural gas supplies could be significantly drained or emptied next winter if the country doesn’t experience another mild heating season.