Natural Gas Utilities

The wholesale gas price in the Netherlands and Britain fell by more than 10% Tuesday morning, following the news that Iran had agreed to a ceasefire with Israel. This removed the premium for risk the market had built into the market due to potential disruptions of oil and gas supplies. The benchmark Dutch front month contract at the TTF Hub fell by 4.86 euro to 36.38 Euros per Megawatt Hour (MWh), which is $12.38/mmBtu by 0939 GMT. It had traded as low 35.45 Euros/MWh earlier, LSEG's data showed. The British front-month contracts was down 13.72 pennies at 84.85 cents per...

The U.S. Energy Information Administration (EIA) said Tuesday that data centers, which are power-hungry and provide computing power to artificial intelligence and crypto currencies, will drive U.S. electric consumption to new records in 2025 and in 2026. EIA projects that power demand will increase to 4,193 billion Kilowatt Hours (kWh) by 2025, and 4,283 kWh by 2026. This is a significant rise from the record 4,097 kWh of 2024. The United States is expected to increase its electricity consumption for heating and transportation, in addition to data centres. EIA estimates that by 2025, residential customers will consume 1,517 billion kWh...

The Dutch and British wholesale prices of gas were not much different on Tuesday morning, as the warmer weather helped to reduce demand and offset a weaker Norwegian supply due to maintenance at Troll gas fields. LSEG data shows that the benchmark Dutch front-month contract was 36.84 euros per Megawatt Hour (MWh) or $12.25/mmBtu at 0818 GMT. This is a decrease of 0.31 euros. The Dutch July contract increased by 0.06 Euros to 36.88 euros/MWh. The British day-ahead contracts rose 0.35 pence, to 87.60p/therm. In a daily research report, LSEG analyst Saku Jusli stated that "demand is slowly decreasing with...

According to a document filed by the government on Friday, U.S. federal regulatory agencies recommended that Venture Global's proposed CP2 liquefied gas export project be approved. If built, CP2 would be the largest LNG export facility to ever exist in the United States and will help the U.S. remain the largest LNG exporter in the world. Venture Global had already received approval for the construction of the 28 million tonnes/annum plant. However, a recent court ruling forced them to perform an additional air quality review. Documents from the Federal Energy Regulatory Commission show that the study concluded the project could...

According to data provided by financial firm LSEG, the U.S. liquefied gas (LNG), Freeport LNG, export plant in Texas is on track to receive more natural gas after closing on Tuesday. This indicates that the plant has recovered from an outage. Freeport LNG officials were not available to comment immediately. Freeport reported to Texas environmental regulators on Tuesday night that the three liquefaction train at the export facility had been shut down Tuesday morning because of an interruption in the power supply. Freeport has been shut down by power problems in the past. Freeport is more vulnerable to power outages...

The U.S. Energy Information Administration's (EIA) Short-Term Energy Outlook, published on Tuesday, predicted that both the U.S. Natural Gas output and demand would reach record levels in 2025. EIA projects that dry gas production will increase from 103.2 billion cubic feet per day (bcfd), in 2024, to 104.9 bcfd, in 2025, and to 106.4 bcfd by 2026. This compares to a record-breaking 103.6 bcfd for 2023. The agency also predicted that domestic gas consumption will rise from 90.5 bcfd, a record in 2024, to 91.3 bcfd by 2025 and then ease back to 90.7% bcfd by 2026. The EIA's May...

Duke Energy beat Wall Street's expectations on Tuesday for revenue and profit in the first quarter, thanks to higher electricity prices, increased retail sales, and a colder Winter. U.S. utilities are arguing for higher electricity bills, as the power consumption surges due to the growth of AI data centers and increased manufacturing in the United States. According to the U.S. Energy Information Administration (EIA), the U.S. power demand is expected to reach record levels in 2025 and in 2026. This will be largely due to the expansion of Big Tech's data centers. After years of stagnation, the U.S. Nuclear industry...

Duke Energy beat Wall Street's expectations on Tuesday for revenue and profit in the first quarter, thanks to higher electricity prices, increased retail sales, and a colder Winter. U.S. utilities are arguing for higher electricity bills, as the power consumption surges due to the growth of AI data centers and increased manufacturing in the United States. According to the U.S. Energy Information Administration, the U.S. power demand is expected to reach record levels in 2025 and 26. After years of stagnation, the U.S. nuclear sector has also become popular as businesses look for cleaner energy to power data centers. The...

Eversource Energy announced a higher first-quarter profit Thursday as it benefited from increased electricity rates. Rate case proceedings are used by regulated utilities to increase power prices. They base their appeals on the investments they have made or expenses they have incurred when delivering their services. Eversource's quarterly earnings in its electric distribution segment increased 12.1% from the previous year to $188.4 millions, while its electric transmission segment earned $199.4million, an increase of 12.8%. Eversource Energy provides electricity and natural gas for approximately 4 million customers in Connecticut, Massachusetts and New Hampshire. Eversource Energy, which has ceased its involvement in...

LSEG data show that the United States equaled the record of the highest volume of liquefied gas exported in April as the capacity increased due to the ramp-up at Venture Global's Plaquemines facility. According to the U.S. Energy Information Administration, the U.S. already has the largest LNG export capacity in the world. It is expected that this will grow by 20% to 115 millions tonnes in 2025 after a record-breaking year in 2024. LSEG data shows that in April the U.S. exported 9.3 MT of LNG, which is the same as the previous monthly record. The startup of Venture Global’s...

In a tweet posted on X, the U.S. Energy Information Administration announced that it would delay its weekly report on natural gas storage in the United States. The report is usually released at 10:30 am EDT (1430 GMT), on Thursdays. The EIA announced on X, "We will post the release as quickly as possible." We also said that we would give an hour's notice before publication. The EIA officials were not able to immediately explain why the report on gas was delayed. Three sources have confirmed that the EIA (the U.S. Government's Energy Statistics arm) is about to lose more...

Bloomberg News reported Monday that Woodside Energy was in discussions with an overseas division of Kuwait Petroleum about selling a stake in their Louisiana liquefied gas plant. The report was based on people familiar with the matter. Kuwait Foreign Petroleum Exploration is also looking at securing LNG from the project. Other companies are interested in both LNG and equity, according to the report. Woodside Energy and Kuwait Foreign Petroleum Exploration did not respond immediately to comments. Woodside, Australia’s largest gas producer, agreed earlier this month to sell a 40 percent stake in its Louisiana Liquefied Natural Gas plant to U.S....

Aleksandar Vucic, Serbia's populist president and a friend of Moscow, visited Odesa in Ukraine on Wednesday for a regional conference. It was the first visit to the country by the leader during his 12-year tenure. Vucic’s office released a statement saying that he will travel to Ukraine to attend the Ukraine-Southeastern Europe Summit at the Black Sea Port of Odesa. This week, Odesa was the target of a Russian drone attack and missiles. The summit was expected to bring together senior politicians from 12 nations in Southeastern Europe. Gazprom, Gazprom NEFt and Gazprom are the majority owners of the only...

The company announced on Tuesday that Alfred Stern, Chief Executive Officer of Austrian oil-and-gas group OMV, has decided to not run for reelection when his current term expires on August 31, 2026. Stern is CEO of the Vienna-based firm since September 2021. He previously ran the Borealis division, and tried to steer it away from fossil fuels toward sustainable fuels and chemical. In March, he oversaw the merging of Abu Dhabi National Oil Company with OMV's Polyolefin business, creating Borouge International, a chemical powerhouse with a $60 Billion enterprise value. The merger should be completed in the first quarter 2026....

What are the possible contours of a peace agreement between Russia and Ukraine? SECURITY GUARANTEE Ukraine, which has been subjected to a full scale invasion in 2022, and witnessed Russia annex Crimea, needs security guarantees from major powers, primarily the United States. The Budapest Memorandum of 1994, in which the U.S., Russia and Britain agreed to refrain from using force against Ukraine and respect Ukrainian sovereignty was not enough for the Ukrainian government. The powers agreed to take the matter to the United Nations Security Council in the event of an attack on Ukraine. Sources involved in the talks say...

Aleksandar Vucic, the president of Serbia, said that his country is committed to joining the European Union. He also wants to accelerate its application for membership. Vucic visited Russia for a celebration of the 80th Anniversary of World War II Victory on May 8-9. There, he also met with Vladimir Putin, the leader of Russia and Chinese President Xi Jinping. Vucic, who met Antonio Costa, President of the European Council on Tuesday, said that Belgrade wanted to accelerate its European Integration and open more negotiations with the bloc. "The atmosphere in the EU is not great, as I was convinced...

EU officials say that European officials have given up on pushing for an import ban of Russian liquefied gas in the bloc as part of upcoming packages due to resistance from certain governments and the uncertainty over alternative sources. The Commission instead wants to create a road map that will end the EU's dependence on Russian energy in 2027. The plan will be announced early in May, but there are few details. Officials say that the work on the measures has been slow. The Commission will likely propose a 17th set of sanctions against Russia in June. In January, when...

Sources with knowledge in the matter say that U.S. officials and Ukrainian officials met Friday to discuss a U.S. plan to gain access to Ukraine’s mineral wealth. However, they also said the chances of a breakthrough are slim, given the "anti-social" atmosphere at the meeting. Source: The tensions in Washington stemmed from Trump's latest draft proposal which is more expansive than its original version. The source pointed out that the "maximalist draft" submitted by the Trump Administration last month was a sign of the hostile negotiating climate. A spokesperson for the Treasury Department confirmed that discussions were "technical" in nature....

RusKhimAlyans is a subsidiary owned by Gazprom. It has announced job openings for its new complex of gas processing in the Baltic Sea Port of Ust-Luga. This was a signal of confidence that the plant would start operating despite the sanctions. Gazprom has a strategy of shifting its focus from production to processing. The complex will include a gas chemical and processing complex. The plant is designed to be able to process 45 billion cubic meters of natural gas per year, as well as 13 million metric tonnes of liquefied gas. It can also produce 3.6 million tones of ethane,...

Denmark's energy agency on Tuesday said it had actually approved Nord Stream 2 AG, a system of Russia's. Gazprom, consent to carry out preservation deal with. the Nord Stream 2 gas pipeline in the Baltic Sea, which was. harmed in a series of blasts in 2022. The upkeep work is necessary to decrease ecological. and security threats coming from the pipeline being filled with. seawater and staying gas, the agency stated in a. declaration. The work intends to protect the damaged pipeline by. installing customised plugs at each of the open pipeline ends to. avoid even more gas blow-out and...

U.S. oil manufacturer Chevron has actually revealed an interest in exploring for hydrocarbons in Greece, southwest of the Peloponnese peninsula and as much as the west of the island of Crete, the Greek energy ministry stated on Monday. The ministry added in a statement that it would release a. decision this week on the precise area of exploration and would. launch an international tender soon. It is a very essential advancement, part of our nationwide. method for energy self-reliance and lowering energy expenses, the. ministry said. Chevron did not immediately respond to an ask for comment. The existing research study...

Austrian oil and gas group OMV said on Tuesday it expected a positive impact of around 210 million euros ($ 215.4 million) on its fourthquarter incomes from an arbitral award linked to its German gas supply contract with Gazprom. The Vienna-based company included the favorable net effect would be tape-recorded in the tidy operating outcome of its Gas Marketing && . Power business unit. OMV stated in November it had received an award of more than. 230 million euros from the International Chamber of Commerce in. connection with irregular German gas supplies from Gazprom. Export. In a fourth-quarter trading update,...

Russian President Vladimir Putin signed a decree on Monday allowing Novatek and its melted natural gas units, along with oil firm Surgutneftegaz, to restrict public disclosure about their services. Russia began keeping some information shortly after its soldiers got in Ukraine in February 2022. Certain oil and gas stats and federal spending plan details are hidden, while banks were purchased to restrict disclosures as Moscow looks for to limit its exposure to Western sanctions. Under Russian stock exchange guidelines, noted companies are generally needed to disclose their financial outcomes, details of big offers and other considerable information. Putin included the...

The CEO of the Kremlin-controlled energy giant Gazprom stated on Thursday that Europe was harming its own commercial sector by artificially damaging demand for gas, as Russian gas exports to the area have shrivelled. Alexei Miller stated there might be gas cost shocks and supply interruption ahead, informing a conference that production was declining greatly in some European market sectors badly affected by gas price volatility. He offered no particular examples. Russian gas supplies to Europe fell sharply after Moscow sent its militaries into Ukraine in February 2022, and much of the deficiency was used up by providers from the...