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Russia’s natural gas production fell 3.2% billion cubic meters (bcm), as higher exports to China and increased domestic demand failed to offset the collapse of pipeline flows to Europe, Bloomberg reported on Wednesday. bcm in 2024, making it the last significant corridor to the EU following… That route had accounted for over 15?bcm
1 natural gas project in the South China Sea, boosting domestic output by 4.5 billion cubic meters (bcm) per year. The project, China’s largest deepwater gas development to date, officially reached full capacity on June 26, according to CNOOC officials cited by China Daily.
Image by AlbertPego via iStock The United States displaced Russia as the European Union’s second-biggest natural gas supplier in the first quarter due to the expiry of imports of Russian pipeline gas via Ukraine at the start of the year, the European Commission has reported. Bcm, followed by Russia at 14 percent or 9.7
Global gas flaring at upstream oil and gas facilities has risen for a second year in a row, according to the World Bank’s annual Global Gas Flaring Tracker Flaring rose by 2% to 151 billion cubic meters (bcm) in 2024, the highest level in almost two decades. bcm of the additional gas flaring.
Image by Cylonphoto via iStock The European Commission has proposed legislation to stop the importation of natural gas, oil and oil products from Russia into the European Union by 2027, betting on global liquefied natural gas (LNG) and increased regional infrastructure interconnectivity. billion cubic meters (473.22
million standard cubic meters a day of gas in June. million standard cubic meters a day of gas in June. million standard cubic meters a day (MMscmd) of natural gas in June, down for the fourth month in a row. million standard cubic meters a day (MMscmd) of natural gas in June, down for the fourth month in a row.
The online platform allows EU buyers to offer demand for biomethane, natural gas, hydrogen and raw materials. Image by vitacopS via iStock The European Commission rolled out Wednesday a mechanism for coordinated purchases of hydrogen, the first mechanism under the EU Energy and Raw Materials Platform.
June 16, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. Iran’s gas field saw partial shutdown but Strait of Hormuz flows remained uninterrupted. Read more European gas prices rise with Middle East conflict intensifying Summary : European gas prices rose 2.4%
Global natural gas demand rose by 2.5% as gas markets rebalanced after the 2023 slump. Global natural gas production rose to 4,124 bcm with the largest producers being the US, Russia, Iran, and China, which has risen from being the world’s sixth largest gas producer to its fourth over the last 10 years.
Russia expects its natural gas exports, including via pipeline and LNG, to jump twofold by 2030 and threefold to 2050 under its new long-term energy strategy approved by the government on Monday. Crude oil and condensate production is targeted to increase from 531 million metric tons per year, or 10.66 million bpd, by 2050.
Turkmenistan is trying to shed its long-standing image as a hermit kingdom, at least when it comes to natural gas exports. The centerpiece of Turkmenistans gas export diversification push is a swap arrangement with Iran and Turkey under which Ashgabat is expected to supply Ankara with 1.3
(Investing) –BRUSSELS -The European Commission will next month propose legal measures to phase out the EUs imports of all Russian gas and liquefied natural gas by the end of 2027, it said on Tuesday. Others, including Poland and the Baltic states, already stopped buying Russian gas.
Although a large part of the global demand increase was met by renewables, consumption of natural gas, coal, and nuclear also rose with the higher demand, according to the agency. As a result of higher power consumption, natural gas saw the strongest increase in demand among fossil fuels in 2024. between 2013 and 2023.
(Oil Price) –Chinese gas and clean energy distribution firm ENN Energy Holdings Limited has been valued at around US$11.6 ENN Natural Gas currently owns 34.28% in ENN Energy. ENN Natural Gas and ENN Energy are two of the four listed firms within the ENN Group conglomerate, which was founded by Wang Yusuo. billion (HK$90.50
The National Iranian Gas Company (NIGC) announced that it delivered a total of 6.49 billion cubic meters (bcm) of natural gas to the industrial sector, including power plants, petrochemical units, steel producers, and cement factories, during the 18-day period from March 20 to April 7. bcm during the same period last year.
The International Energy Agency (IEA) at India Energy Week 2025 today released its comprehensive India Gas Market Report, revealing that India's natural gas sector has reached an inflection point.
The first South Pars Gas Refinery achieved strong operational performance during the Iranian year 1403 (March 2024 March 2025), producing over 10 billion cubic meters (bcm) of sweetened gas, according to a report by SHANA. In addition to sweetened gas, the refinery also produced over 7.26
As a result of higher power consumption, natural gas saw the strongest increase in demand among fossil fuels in 2024. As a result of higher power consumption, natural gas saw the strongest increase in demand among fossil fuels in 2024. Meanwhile, oil demand witnessed slower growth, rising by 0.8%
Global gas demand reached a new all-time high in 2024, while oil demand growth slowed markedly, according to the IEAs newly-released Global Energy Review 2025 Demand for all energy sources increased in 2024, as global energy demand rose by 2.2% Rising demand for gas Global gas demand rose by 2.7%
The Chairman of the Egyptian Natural Gas Company (GASCO) Yasser Salah El Din stated that the company is working on several strategic pillars of the Ministry of Petroleum and Mineral Resources (MoPMR), especially in meeting the gas needs of the local market and the country’s economic sectors. He highlighted that 1.9
Since Wednesday, August 29, natural gas spot prices increased in most markets (exceptions were Florida and Rocky Mountain region). Commodity Price or Volumes Change since last % Change Natural Gas Spot (Henry Hub) $5.81/MMBtu Natural Gas in Storage 3,005 Bcf UP 36 Bcf 10.4% MMBtu UP $0.17
May 19, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. bcm, crude oil increased 1.5% Read more Gas prices hit lowest inflation-adjusted levels in years Summary : U.S. gas prices rose 6.1 million tons, and coal climbed 3.8% to 389 million tons.
Away from the oil market, yours truly also discussed Central Europe's natural gas conundrum following Ukraine's new year's eve decision to end Russian energy transit via its territory on CGTN earlier this month. And, of course, factor in recent news of heightened US sanctions on Russia's oil exports. Full interview clip here ).
April 14, 2025 Edition At Valor, our goal is to keep you informed of the latest news and updates from the oil and gas industry. Read more Russia targets major surge in natural gas exports by 2050 Summary : Russia aims to double its natural gas exports by 2030 and triple them by 2050 under its new energy strategy.
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