Policymakers should underpin future demand reduction targets by encouraging a structural shift away from gas, says Bruegel.
British and Dutch wholesale gas prices were mixed on Feb. 2 on cold weather forecasts, reduction in gas storage and Norway outage, although strong flows of LNG were lending some support.
The fallout from Russia’s invasion of Ukraine includes a global movement away from imported fossil fuels toward domestically produced renewables, BP said in its annual Energy Outlook.
Washington granted Trinidad and Tobago the right to develop Venezuela’s Dragon gas field in the first sign of a potential bilateral trade deal that could see Venezuela commercialize its strained offshore gas via idled LNG, methanol and ammonia plants in its neighbor’s backyard.
Freeport LNG's request represents a milestone in efforts to restore production after a seven-month outage at the second-largest U.S. LNG.
The European Commission hopes joint gas buying will help Europe to refill depleted storage caverns before next winter and to negotiate lower prices by using EU countries' collective buying power.
A large energy-price shock still lies ahead for European corporates, but German companies' healthy finances and a state-imposed gas price cap will help keep the industry afloat, says study by Allianz Trade.
An initial public offering of ADNOC Gas could launch as soon as February as the company sharpens its focus on the gas market as Europe seeks to replace all Russian energy imports as early as mid-2024.
The London market would not be subject to the EU's gas price cap and will provide an option against possible trading prevention and risk exposure.
Freeport has yet to seek permission from federal regulators to restart the liquefaction trains, and analysts have said they expect most of the plant's production to remain offline until March or later.