Business & Markets

Moldova Settles Debt for Gas to Russia, Averts Energy Crisis

Moldova has paid for Russian natural gas it received in October and the first half of November, Moldovagaz said in a statement, averting a possible crisis over a payment dispute.

Oil Settles Down $10/bbl in Largest Daily Drop Since April 2020

Oil prices plunged $10 a barrel on Friday, their largest one-day drop since April 2020, as a new variant of the coronavirus spooked investors and added to concerns that a supply surplus could swell in the first quarter.

Canada Rejects Enbridge Plan to Sell Oil Pipeline Space Under Contract

The Canada Energy Regulator on Friday rejected Enbridge's plan to sell nearly all space on its Mainline oil pipeline under long-term contracts, rather than rationing it on a monthly basis.

Gazprom Nearly Doubles Planned Investments to $24 Billion in 2022

Russian gas giant Gazprom said its management has approved investments worth 1.76 trillion roubles ($24 billion) for 2022, up from initial plans of 902 billion roubles for 2021, to fund new production and refining hubs.

Greece Teams Up With Egypt on Gas Supply, Infrastructure

Greece and Egypt agreed to expand their cooperation in the supply of liquefied natural gas (LNG) and examine the possibility of constructing a subsea gas pipeline between the two countries, the Greek energy ministry said.

Giant Pipeline in U.S. Midwest Tests Future of Carbon Capture

The 2,000-mile Midwest Carbon Express would be the world's largest carbon dioxide pipeline, moving greenhouse gases from Midwest biofuels plants to store underground in North Dakota. But some landowners don't want it.

Australia Unveils Plan to Spur Pipeline Investment

Australia outlined a plan to spur investment in new gas pipelines to beef up gas supply, despite the government's pledge to achieve net zero carbon emissions by 2050

Delay to Nord Stream 2 Pipeline May Be Short - Analyst

The suspension of the approval process for the Russian Nord Stream 2 pipeline by a German regulator could be short-lived as Europe is hungry for more gas, an analyst said after meeting officials of Russian state gas giant Gazprom.

Russia Agrees to Extend Deadline for Moldova's Gas Payments

Russian gas giant Gazprom said it agreed to continue gas exports to Moldova despite its inability to pay for the gas on time, extending a payment deadline and averting an energy crisis in the ex-Soviet state, at least for now.

Contractors: Western Canada to Boost Drilling to Pre-Pandemic Levels

Western Canadian oil and gas producers will drill 27% more wells in 2022 than the previous year, returning to pre-pandemic levels as prices rebound and pipeline projects advance, the Canadian Association of Energy Contractors (CAOEC) said.

U.S. Energy Secretary: Companies Making Big Profits Should Increase Oil Supply

U.S. Energy Secretary Jennifer Granholm on Tuesday urged U.S. energy companies to increase oil supply amid "enormous profits," as the Biden administration tries to bring down the price of gasoline.

US to Release Oil from Reserves; OPEC+ Rebuffs Call for More Crude

The United States said on Tuesday it would release millions of barrels of oil from strategic reserves in coordination with China, India, South Korea, Japan and Britain to cool prices after OPEC+ producers repeatedly ignored calls for more crude.

Enbridge Restores Capacity to Pipeline Shut Down by Flooding

Enbridge Inc said Monday it is now transporting more natural gas on its Westcoast natural gas pipeline than at this time in 2020, less than a week after it shut a segment of the pipeline system due to heavy flooding in the British Columbia province.

Gas Flows to Germany Via Yamal Pipeline Steady Amid Price Volatility

Russian natural gas flows through the Yamal-Europe pipeline to Germany have been steady for the past 24 hours on Friday, data from Gascade showed, while gas prices have been volatile amid the uncertainty over a major pipeline.

Europe's Gas Firms Prime Pipelines for Hydrogen Highway

As world leaders hammered out a deal last week to slow climate change, gas engineer Michele Ricciardi was digging into a practical problem: How thousands of miles of pipelines across Italy and Europe can safely carry hydrogen.

GTI Exploring Innovative Hydrogen Production Technology to Enable Expanded Use

GTI is exploring innovative hydrogen production and generation technology developments to enable expanded use of hydrogen economy wide, as detailed in a Tech Talk this month.

Pennsylvania Fines Energy Transfer $2 Million for 2018 NatGas Pipe Blast

The Pennsylvania Public Utility Commission approved a nearly $2 million settlement with a unit of Energy Transfer LP for a pipeline explosion and fire at its Revolution natural gas pipe in Western Pennsylvania in 2018.

Texas Electric Grid Still Not Ready for Extreme Winter Weather -NERC

The Texas electric grid could suffer a massive shortfall in generating capacity in a winter deep freeze, potentially triggering outages similar to those in February, according to a report on Thursday by an electric reliability authority.

Targa NGL Pipeline Launches Open Season for Planned Interconnection

Targa NGL Pipeline Company has launched an open season to gauge shipper interest in a planned interconnection with upstream pipeline facilities in Stephens and Grady counties, Oklahoma, to Mont Belvieu, Texas.

New Natural Gas Capacity Expands Access to Export and Northeast Markets

The EIA estimates more than 4 billion cubic feet per day of new natural gas pipeline capacity entered service in the third quarter of 2021, primarily supplying Gulf Coast and Northeast demand markets.

Pipeline Firms Scramble to Restore Service After British Columbia Floods, Gas Prices Spike

Natural gas customers in British Columbia and the Pacific Northwest are facing reduced supplies after Enbridge shut a segment of its Westcoast pipeline as a precaution, reducing flows to 1.4 b Bcf/d from up to 1.8 Bcf/day.

German Gas Imports Fall 4% in Jan-Sept, Bill Jumps 57%

Germany imported 4% less natural gas in the first nine months of 2021 versus a year earlier, but its bill rose 57% as prices surged, data from trade statistics office BAFA showed.

Belarus Restricts Oil Supplies to Poland Due to Unscheduled Maintenance

Belarusian oil pipeline operator Gomeltransneft Druzhba has restricted oil flows towards Poland for three days for unscheduled maintenance, the TASS news agency said.

Canadian Shippers Find Few Easy Alternatives for Grain, Oil Cut Off by Flood

Canadian exporters of commodities from grain to fertilizer and oil scrambled on Wednesday to divert shipments away from Port of Vancouver, which floods have isolated, but they found few easy alternatives.

US Wants NatGas/Power Coordination to Prevent Another Feb Freeze

U.S. power reliability regulators recommended electric grids strengthen cold weather rules and coordinate with the natural gas industry to prevent a recurrence of the February freeze that left millions in Texas without power for days.

Perspective: Stemming Methane Leaks from Pipelines, Landfills Could Quickly Slow Climate Change

Methane, which is more potent than carbon dioxide but has a shorter lifespan, reached record levels in the atmosphere last year, at about 2.5 times above those during the pre-industrial era.

German Regulator's Nord Stream 2 Move May Delay Commissioning to March

A German regulator's decision to suspend licensing of the Nord Stream 2 pipeline from Russia to Germany could delay commissioning of the infrastructure until March next year, government sources said.

Ukraine Sees No Sign of Bigger Russian Gas Supply to Europe

Ukraine's state-run gas transmission system operator said there was no sign that Russian energy giant Gazprom planned to export additional gas to the Europe Union next year, based on the results of pipeline capacity auctions.

Trafigura Warns of Power Outages in Europe This Winter

Europe is at risk of power outages this winter due to insufficient gas reserves and over the long-term, oil could rise above $100 a barrel, the chief executive of commodity trading giant Trafigura said.

Judge Rules Enbridge Line 5 Oil Pipeline Case with Michigan be Heard in Federal Court

A legal battle between Canadian company Enbridge Inc. and Michigan over Enbridge's Line 5 oil pipeline will be heard in federal court, a judge ruled on Tuesday, dismissing Michigan's motion to have the case sent back to state court.