The UK’s dependence on LNG imports exposes UK consumers to an international gas market over which they have no control. If the European winter is cold or Asian LNG demand booms, the UK will feel the consequences.
A liquefied natural gas tanker that recently docked at the sanctioned Arctic LNG-2 export facility in Russia is heading toward Europe, ship tracking data compiled by Bloomberg show.
National Grid’s plan to sell its Grain LNG terminal has sparked concerns among some industry participants, with union UNISON flagging the risks raised by the divestment of an asset of strategic national interest.
“Two or three years ago all you would hear about [from policymakers] was decarbonisation. Now, I think there’s much more balanced conversation around security of supply, affordability and decarbonisation,” Hill said.
The plan requires developers to upgrade stations to burn hydrogen sometime between 2035 and 2040
Europe, long-reliant on Russian natural gas, has nearly severed its dependency on the Kremlin in less than two years. Its preferred replacement — gas from the US — is widely viewed as abundant, politically palatable and less likely to be choked off than pipelines from Siberia.
“Longer supply lines tie up more vessels, boost freight rates, widen origin-destination spreads, and lift bunker demand,” Bank of America Global Research analysts said.
US LNG is almost four-times more carbon-intensive than domestic UK gas production.
“The ultimate goal is to get off gas and move to hydrogen,” Lewis said. He noted that Europe’s gas demand remains uncertain in the short term.
“If we have another supply disruption from the US, from Norway or from the North Sea we will see more volatility,” he said.
The police statement said they had attempted to contact the Newnew Polar Bear, but the ship was not willing to co-operate.
"It was done in co-operation with the customer because we couldn't just walk out and slam the door: We'd have lost a lot of money," a company executive told the newspaper, speaking anonymously.
Azerbaijan may not be able to deliver on ambitions to double natural gas exports to Europe by 2027, having failed to secure long-term sales deals it needs before investing billions of dollars to boost production, according to two people with knowledge of the matter.
Germany wants to lock in contracts for liquefied natural gas with a delivery obligation, an effort to deter profit-chasing traders from diverting shipments elsewhere as the nation boosts its commitment to the fuel.
One of the major reasons flagged by Greenpeace France for its action was the accusation that the FSRU would receive LNG cargoes from the US.
Greenpeace said France must demonstrate LNG imports are “the best option available”. If it cannot do this, the NGO said, the directive from March 2023 on commissioning the Le Havre FSRU should be cancelled.
“We think JKM-TTF spreads will turn negative for the autumn shoulder season,” says Jake Horslen, senior LNG analyst at Energy Aspects.
Eni will completely replace Russian gas supplies by 2024-25, it has said.
Tusiani said a third wave of US LNG export plans would need equity to get off the ground. “It’s not a slam dunk. There’s a lot of environmental hurdles, there’s a lot of issues, uncertainty with buyers.”
Shareholders in HEH include the Buss Group, Fluxys and Dow. The latter owns the land on which the group will build the regas terminal. The terminal will take industrial waste heat from Dow’s projects, allowing it to regasify LNG with minimal emissions.
The Dutch government is working on ending all liquefied natural gas imports from Russia, according to Energy Minister Rob Jetten.
The European Union is targeting a way for member states to have the option to effectively ban Russian shipments of liquefied natural gas without implementing new energy sanctions.
More investments in liquefaction is needed to head off a supply-demand gap that the company sees emerging in the late 2020s. Last year, the company put this supply-demand gap opening up by mid-decade.
Alebri said the delivery “demonstrates how the UAE is continuing to work closely with our strategic partners in responsibly providing secure, sustainable and affordable energy supplies”.
“It’s a matter of cost,” DNV’s Mediterranean manager Andrea Spessa said. “This pipeline is the best solution to transport energy from one country to another in this range.”