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Europe is willing to renegotiate gas pricing with Gazprom
The EU Commission launched a probe earlier this month into exports by Gazprom, because of suspicions that the company was hindering the free flow of gas across the EU and imposing unfair prices by linking the cost of gas to oil prices. Moscow has said Gazprom, which has a legal monopoly on gas exports from Russia, will fight the case but will not cut supplies in retaliation. Gazprom's oil-linked contracts are a touchy subject for the Russian government and Gazprom, a major contributor to the state budget which earns the bulk of its revenue from export. The EU's investigation ended a period of relative calm on the gas front between Brussels and Moscow, which objects to some of the EU's gas market liberalisation measures.
read more... 25/09/2012
Eastern Europe to spur shale gas revolution
Rising oil prices, high pollution levels and the global warming, a strong dependence on Russia’s gas supplies, have prompted Eastern European institutions to focus on switching from coal and oil to natural gas.
read more... 20/09/2012
Qatargas increases LNG supplies to Japan
Qatargas, the largest producer of natural gas in the world with a production capacity of 42 million tonnes per year of LNG, announced that it has augmented its LNG supplies to Japan by 11 tonnes from the original 9 million tonnes in comparison to the autumn 2011, as a result of the nuclear disaster last year, when Japan had to shut down its entire nuclear energy sector, from which it was dependent for 30%.
read more... 17/09/2012
Daily: British prompt gas prices decline as supplies rise and exports fall
Brent futures declined below $113 per barrel on Friday ahead of a U.S. jobs report expected to indicate a stronger economic outlook for the world's largest oil consumer and as the United States considered a release of emergency oil reserves, potentially much larger than the last one.
read more... 07/09/2012
Daily: Gas demand in UK dropped to a six year low
Tight supplies of natural gas in UK might not hit consumers as their demand is currently 30% under the seasonal norm, having dropped to a six year low from an average of 223 million cubic meters last summer to 155 million cubic meters at the end of July this year. Gas supplies have dropped due to lower LNG output, a loss of the Elgin-Franklin platform and lower UK gas production during an intense maintenance period. This week, natural gas prices were traded at roughly 55.50 pence per therm.
read more... 23/08/2012