Gas Storage News

Four tankers used for shipments of Qatari liquefied natural gas (LNG) have resumed course after pausing for several days amid maritime attacks by Yemen's Iran-aligned Houthis in the Red Sea, LSEG shiptracking data showed on Tuesday.The Houthi attacks, in what they call a bid to support Palestinians in the war with Israel, have disrupted trade on the main East-West route that makes up about 12% of global shipping traffic.On Monday, the Houthi movement vowed to widen its targets in the Red Sea region to U.S. ships, following U.S.

U.S. liquefied natural gas exports hit monthly and annual record highs in December, tanker tracking data showed, with analysts saying it positioned the United States to leapfrog Qatar and Australia to become the largest exporter of LNG in 2023.The U.S. was the stand out in global LNG supply growth in 2023, said Alex Munton, director of global gas and LNG research at consulting firm Rapidan Energy Group of the rise to 8.6 million metric tons leaving U.S. terminals in December.Qatar was the largest LNG exporter in 2022 and Australia the second-largest that year, U.S. government data showed."U.S.

U.S. liquefied natural gas (LNG) producers ramped up exports in October, to 7.92 million metric tons, according to data provider LSEG, the second-highest monthly level on record.Exports were just shy of the record 8.01 million metric tons in April this year, and were up from 7.12 million metric tons in September, when plant maintenance reduced U.S. production.The U.S. was the world's largest exporter of LNG in the first half of this year, according to the Energy Information Agency, ahead of Qatar and Australia.

A new LNG floating storage regasification unit (FSRU) arrived in western France on Monday morning, a TotalEnergies' spokesperson said, as activist group Greenpeace tried to prevent it from entering port.Demand for liquefied natural gas (LNG) in Europe has grown in the wake of the war in Ukraine, with France relying on its four LNG terminals to replace Russian gas imports and help supply neighbors like Germany.The Cape Ann FSRU arrived at Le Havre port on Monday morning, LSEG ship tracking data showed.However, environmental group Greenpeace blocked the tanker's course in protest at what they sa

Threatened strikes by workers at Australian liquefied natural gas (LNG) providers would need to last more than a month to significantly push up global prices, analysts said this week.The Woodside Energy and Chevron operations supply about 10% of global LNG output and worries of a walkout have lifted prices of European gas benchmark TTF forward curve 5%-7% higher over the September-to-April period than just before the news of a potential strike.The three Australian plants facing possible strikes risk losing 4 to 5 billion cubic meters of production per month if they go offline…

A new ammonia floating storage regasification unit (FSRU), the first of its kind in Korea, has been awarded approval in principle (AIP) from Lloyd’s Register (LR), the classification society announced Tuesday.Developed by HD Hyundai Heavy Industries (HHI) and Korea Shipbuilding & Offshore Engineering (KSOE), the ammonia-FSRU will store liquefied ammonia transported from production areas and can perform regasification to supply to shipowners and operators. FRSUs are an increasingly…

A floating terminal to import liquefied natural gas (LNG) arrived in the port of Brunsbuettel on Friday, the third such vessel to start up in recent weeks as Germany rushes to diversify away from former top supplier Russia.The Hoegh Gannet floating storage and regasification unit (FSRU) arrived at the Brunsbuettel Elbehafen port near Hamburg.It will allow LNG tankers to land and their cargoes to be regasified and fed into the country's grid."Floating LNG terminals enable the import of gas and thus strengthen Germany's security of supply," said Markus Krebber, chief executive of RWE RWEG.DE, which has spearheaded the project."The strong…

Top U.S. gas exporter, Freeport LNG, is expected to further extend the seven-month-long outage of its liquefied natural gas (LNG) export plant in Texas to February, as it awaits regulatory approvals, three sources told Reuters on Wednesday.Accounting for 20% of U.S. LNG exports, resumption of the facility is important to ease the squeeze of global LNG supplies, especially as Europe is rebuilding its gas storage after Russia cut gas exports following Moscow's invasion of Ukraine."There has been no official messaging…

Italy plans to boost its liquefied natural gas (LNG) import capacity to 27 billion cubic metres (bcm) from nearly 17 bcm currently as it seeks to completely replace Russian gas supplies following Moscow's invasion of Ukraine.In 2021, Moscow provided Rome with 29 bcm of gas via pipelines, equal to around 40% of Italy's total imports but Russian supplies have fallen in recent months to around 10% of total imports. Italy, which can now count on three LNG terminals, has mandated gas grid operator Snam SRG.MI to buy and set up two additional floating storage and regasification units (FSRU) near the cities of Piombino and Ravenna.A timely start for the Piombino FSRU is crucial to allow Italy to fill gas storage facilities in time for winter 2023…

Italian gas grid operator Snam confirmed on Thursday its guidance for full-year net profit after reporting a rise of 10% in nine-month revenue to 2.4 billion euros ($2.41 billion). The state-controlled group said it planned to boost Italy's gas storage and transport facilities after getting the go-ahead to set up two new LNG terminals. The new floating LNG terminals and investments in gas infrastructure are part of a broader effort by the Italian government to replace dwindling Russian gas supplies and keep a lid on energy costs. The gas grid operator reported a decline of 9% in gas consumption by the industrial sector between January and September, in a sign that companies in Italy have cut activity in the face of high commodity prices and supply difficulties.

U.S. exports of liquefied natural gas (LNG) in October remained capped by plant outages, with producers shifting more cargoes to Asian buyers last month, according to Refinitiv Eikon tanker monitoring data, after of a pipeline leak cut supplies from Malaysia. LNG prices recently have cooled with Europe's gas storage levels rising to over 90% of target capacity and a slow start to winter. In Asia, however, a declaration of force majeure on gas supplies by Malaysian state-energy company Petronas PETR.KL  has LNG customers in Japan scrambling for alternative cargoes.

The second-largest U.S. liquefied natural gas export plant, idled for five months by a fire, must receive full approvals before a planned November restart can begin, regulator Pipeline Hazardous Materials and Safety Administration (PHMSA) said on Wednesday.Full approval adds to the hurdles for restarting Freeport LNG, one of the earliest and biggest U.S. export facilities. The closely-held company aims to restore more than 85% of pre-fire processing capacity next month and complete…

A crime scene investigation of the Nord Stream 1 and 2 gas pipelines from Russia to Europe found evidence of detonations, strengthening suspicions of "gross sabotage", Sweden's Security Service said on Thursday. Swedish and Danish authorities have been investigating four leaks after the pipelines, which link Russia and Germany via the Baltic Sea and have become a flashpoint in the Ukraine crisis, were damaged at the start of last week. Europe, which used to rely on Russia for about 40% of its gas…

U.S. producers of liquefied natural gas (LNG) boosted exports to Europe in September even as a plant outage kept overall shipments below the average for the first eight months of 2022, Refinitiv Eikon data showed on Monday.A June fire at the United States' second-largest exporter Freeport LNG has the country's output below its full processing capacity even as demand and prices for the superchilled gas soar on European buyers seeking alternatives to Russian gas.A total of 87 cargoes departed from U.S.

Greece received two binding bids for a majority stake in its northern port of Alexandroupolis, the country's privatizations agency HRADF said.The bidders for a 67% stake in the port were Quintana Infrastructure and Development through Liberty Port Holdings Single Member, and International Port Investments Alexandroupolis, a joint venture of Black Summit Financial Group, Euroports, EFA Group and GEK Terna, the agency said in a statement.The deadline for the bids expired earlier on Thursday.

Asian spot liquefied natural gas (LNG) prices jumped this week on fears of possible Russian supply disruptions to Japan and on rising demand due to a heatwave and concerns over the return of the Nord Stream pipeline after its planned 10-day maintenance.The average LNG price for August delivery into north-east Asia was estimated at $41 per million British thermal units (mmBtu), up $2, or 5.1%, from the previous week, industry sources said.This is the highest level seen in four…

Greece can cope well with potential cuts in Russian gas supply due to the availability of liquefied natural gas (LNG) as an alternative, its energy minister said on Monday after a meeting with energy suppliers and grid operators on energy security.The country relied on Russian gas via the TurkStream pipeline for 40% of its needs last year. About 70% of its gas imports are used in power generation.Russian gas flows to Europe via Ukraine and the Nord Stream 1 pipeline have fallen this year after Russia's invasion of Ukraine in February and Europe’s moves to impose sanctions on Moscow…

European Union leaders have agreed an embargo on Russian oil imports that will start kicking in towards the end of the year and which exempts, for now, pipeline imports that Hungary and two other landlocked Central European states rely on.The toughest sanction yet on Russia for its invasion of Ukraine, agreed overnight after weeks of wrangling, aims to remove 90% of Russia's crude imports into the 27-nation bloc by year-end, senior officials said."The purpose is to stop Russia's aggressive war…

In the months and years before the Covid-19 pandemic, the world was getting used to the idea of reducing its reliance on oil with more focus on liquefied natural gas (LNG). Consequently, shipyards and shipowners responded to the shift by building new or recommissioning existing LNG carriers and storage vessels.However, reducing dependence on Russian oil and gas from much of the world market – where it was the second biggest exporter of the product – has instigated a greater scramble…

New Fortress Energy has executed a binding agreement to charter a floating storage and regasification unit (“FSRU”) to Dutch energy network operator Gasunie, in an effort by the Netherlands to reduce Russian gas imports. The chartered FSRU will provide storage capacity of approximately 170,000 m3 of liquefied natural gas with peak regasification capacity of 900 mmscfd. New Fortress Energy's FSRU will work in tandem with a third party’s FSRU to provide up to 8 bcm per year of total regas capacity.

Italy is looking to install two floating storage and regasification units (FSRU) to boost liquefied natural gas (LNG) imports as part of plans to cut reliance on Russian gas, Italy's energy transition minister said on Tuesday."Today we officially mandated (gas group) Snam to negotiate the acquisition of an FSRU and the leasing of a second," Roberto Cingolani said in a parliamentary hearing.His comments confirmed sources who earlier told Reuters the two vessels, with a combined capacity of more than 10 billion cubic meters (bcm)…

Tanker rates to ship liquefied natural gas (LNG) across the Pacific hit a fresh record high on Friday as high demand for the U.S. super chilled fuel from Asia drives up the demand for vessels, industry sources told Reuters.The cost of chartering a vessel to carry a shipment of LNG from Australia to Japan jumped to a record high of $335,000 per day, according to data intelligence firm Spark Commodities.The jump comes ahead of the peak winter consumption season and is spurring concern among Asian buyers that colder-than-normal weather could be exacerbated by the shortage of ships…

Global Energy Storage, a new company that aims to store products such as hydrogen and biofuels, said on Thursday it is buying assets in Rotterdam from commodities firm Gunvor Group and will redevelop 20 hectares (49 acres) of land in the port for its operations.Financial details of the purchase, which includes part of Gunvor's Stargate Oil Terminal, were not disclosed.The company's plan is to "take an existing oil terminal and develop it into a state-of-the-art low-carbon products terminal…