Spot gas price in Europe exceeds $2,300 per thousand cubic meters
10:33 13.08.2022 4844
The spot price of gas in Europe has exceeded $2,300 per thousand cubic meters. The cost of the nearest (September) futures on TTF on the ICE Futures exchange reached $2,311 per thousand cubic meters on Thursday afternoon, while trading started at $2,200, Interfax notes.
Gas prices in Europe are rising due to the limited possibilities of transporting gas through the Nord Stream. Its power was reduced by five times.
European quotes are also spurring rising LNG prices in Asia.
From August 13 until the end of the month, part of the capacities of the Norwegian Troll field and the Kollsnes gas treatment plant will be shut down for annual preventive maintenance. Production capacity will decrease by 20 million cubic meters of gas.
In addition, the Gulf of Mexico is about to enter hurricane season (typically peaking between mid-August and mid-November), which could limit US LNG exports.
Refined products were in the lead in the auctions
At the auction of the State Commodity and Raw Materials Exchange of Turkmenistan, 47 transactions were registered last week.
UAE Minister of State emphasizes the growing role of Turkmenistan in global energy security
The accelerating energy transition further highlights Turkmenistan’s critical role in maintaining global energy security as a stable and reliable supplier of hydrocarbon resources and as a country supporting the development of renewable and sustainable energy sources. This was stated by the Minister of State of the UAE, member of the board of directors of the Abu Dhabi National Oil Company (ADNOC), Abu Dhabi Development Fund Ahmed Ali Al Sayed, speaking at the International Forum on attracting foreign investment in the oil and gas industry of Turkmenistan, which opened on Wednesday in Dubai.
At the Galkynysh field, annual production may reach up to 200 billion cubic meters of gas
In the future, with the implementation of seven stages of development of the giant Galkynysh field, the annual production of natural gas will reach about 200 billion cubic meters of “blue fuel”. This was stated in the speech of the head of the laboratory of the Scientific Research Institute of Natural Gas of the State Concern “Turkmengas” Irina Luryeva at the International Forum on attracting investments in the energy sector of Turkmenistan in Dubai.
The President of Turkmenistan noted the importance of further increasing natural gas production volumes
On May 31, President Serdar Berdimuhamedov held a regular meeting of the Cabinet of Ministers via the digital system, at which topical issues in the life of the country were discussed.
Gurbanguly Berdimuhamedov instructed to find a way to extinguish the gas crater in Darvaza
Turkmen President Gurbanguly Berdimuhamedov, at a government meeting held last Friday via video link, raised the issue of finding a solution to the long-standing problem associated with a burning gas crater in Darvaza.