Next-day natural gas prices for Wednesday at the Waha hub in West Texas plunged to a record low due to an equipment failure in New Mexico that stranded gas in the Permian basin. Spot prices at the Waha hub collapsed to an average of just 12 cents per million British thermal units (mmBtu) for Wednesday. That fell below the contract’s prior all-time low of 21 cents in February and compares with an average of $1.72/mmBtu so far this year, $2.10 in 2018 and a five-year (2014-2018

Russian President Vladimir Putin has put into operation Kaliningrad’s LNG regasification terminal on January 8, which is Russia’s first floating storage regasification unit (FSRU). The terminal, built in the Baltic Sea, has the capacity of 2.7 billion cbm per year and consists of a pier protected by a breakwater and the Marshal Vasilevsky LNG tanker. The project was carried out by Russian energy giant Gazprom. The breakwater and the terminal are located 5 kilometres from the

U.S. utilities could inject natural gas into storage in November for the first time since 2011, according to analyst projections, cutting the vast storage deficit that exists versus normal levels for this time of year. Utilities and others could stockpile a record 111 billion cubic feet (bcf) of gas in storage during November, according to a report from IHS Markit OPIS PointLogic. That compares with a withdrawal of 107 bcf during the same month last year and a five-year (2013

When Saudi Arabia’s oil minister attended Friday’s grand opening of a giant liquefied natural gas plant in northern Siberia, he’d have known this was just part of a bigger energy story developing in Russia’s icy north. It’s not just gas that’s a big deal there. Russia’s Arctic oil flows are soaring too.These are not the putative offshore fields that energy supremo Igor Sechin touted five years ago as Russian oil’s future. Arctic exploration has been all but halted by cheap oi