Boil ETF News

With the United States and the United Kingdom banning Russian energy exports and the European Union announcing it will reduce Russian gas imports by two-thirds by the end of the year, the West is urgently debating how to replace Russian energy deliveries. The most crucial issue is the Russian gas on which Germany and other parts of Europe depend. From Washington to Berlin, politicians have announced they will be doubling down on wind and solar energy. But while renewable energy production will be part of a long-term solution, the idea that it can replace Russian oil and gas quickly and at scale is disingenuous at best—and disastrous for Western economies and consumers at worst. The reasons should be clear to all but the energy-illiterate: Wind and solar power can replace some of the Russian gas used to generate electricity—but only when the wind blows and the sun shines, requiring substantial backup generation capacity, much of it powered by natural gas. What’s more, electricity is only part of the energy equation: The majority of Russian oil and gas is not used by power plants but to heat homes, run factories, and fuel cars, trucks, planes, and ships—none of which can be easily shifted to other fuels.

The industry is facing natural gas supply and price hike issues

The post War in Ukraine Clouds EIA’s Latest Oil, Natural Gas Price Outlook appeared first on Natural Gas Intelligence

The weather is expected to remain warmer than normal

You don’t need us to tell you that Russia’s invasion of Ukraine—and Western sanctions on Russia—are playing havoc with your finances. You’re reminded of the pain afflicting your pocketbook every time you fill your gas tank. But the impact doesn’t end there. Americans are spending more at the supermarket, mortgage rates are higher, and investors have experienced big losses in their portfolios Sanctions on Russia will exacerbate already high inflation, which reached 7.9% in February. Russia’s main contributions to the world economy are commodities—oil, gas, wheat, nickel, aluminum, palladium. To the extent that sanctions cut off those exports, prices will climb still higher. For the global economy, this is the biggest hit since the onset of COVID-19. How bad will it get? The Hit to Household Budgets The average price of a gallon of regular gas breached $4 in early March, and gas prices were quickly heading higher. To add even more price pressure, on March 8, President Biden said he was banning all imports of oil and natural gas from Russia.

Equinor <> says it is taking new steps to help meet Europe''s demand for natural gas by increasing short-term production from its fields offshore Norway after receiving a permit…

Iran has increased its natural gas condensates exports under the new government after stockpiles surged to nearly 90 million barrels, oil minister Javad Owji said on March 16, the ministry''s news service Shana reported. Exports have climbed by two and a half to three times since the new government took office, from a base of about 20,000 barrels to 60,000…

A cooler look to the U.S. weather pattern to close out the month of March helped natural gas futures rebound in early trading Wednesday. Coming off losses

The cost of natural gas was already rising fast as the world emerged from repeated Covid lockdowns and demand for energy soared. Now the war in Ukraine is pushing prices even higher.

This company is getting ready to profit from the growing need for natural gas around the world

European Gas Injections Begin As Warmer Temperatures Trend Temperatures in Europe are turning higher as peak winter is over and spring nears. Heating demand declines as mild weather spreads through Europe. This is great news for the continent''s ongoing energy crisis. Peak winter appears to have been recorded in the mid/late January timeframe when average temperatures in Europe were 30 degrees Fahrenheit. At the time, Europe was sliding into an energy crisis with declining supplies from Russia and stockpiles at extremely low levels. Then the Russian invasion in late February sent prices skyrocketing . Bloomberg cites data from Gas Infrastructure Europe, showing energy companies in Germany, France, and Poland are taking in more natural gas than withdrawing from stockpiles which could suggest restocking begins. This could be happening because heating demand decreases as temperatures are expected to be in the mid-60s in Paris on Wednesday. Declining demand has brought some relief to energy markets, still dealing with potential supply disruptions as the Russian invasion of Ukraine wages on . "Mild weather in Germany is improving the outlook," said Ron Smith, a senior analyst at BCS Global Markets. "Gas markets seemingly are slowly reducing the geopolitical risk premium in European prices as it becomes increasingly apparent that Russian flows are not likely to get interrupted in the near term," said Smith.

OSLO (Reuters) – Norway will boost its natural gas output in the coming months, delivering higher volumes to Europe at a time of shortages and soaring prices, operator Equinor said on Wednesday.

Martins Odion often has no electricity, but he says his home is permanently lit at night by the flames of waste gas being “flared” near his hometown in Nigeria’s Delta State. “This flare site makes the nights like days,” said 42-year-old Odion, his eyes both bloodshot and milky, something he said his doctor attributes to the burning of the waste gas. After sunset, nearly 200 blinking flares dot the landscape around Port Harcourt, the Delta oil hub. Experts say the gas that Nigeria flares nationwide could be worth billions of dollars if captured and transported to be used as liquefied natural gas for plastics or fertilizers. To change this narrative, Carbon Limits Nigeria is bridging the shortfalls in Nigeria’s emission reduction with bold innovations, social investments, and local capacity development. “What we are trying to achieve is to help energy industries to understand both the characteristics and size of carbon emissions and their operations and also help to reduce emissions. We also work on broader consultancy, which is related to analysing policies and regulations related to emissions of greenhouse gases,” Torleif Haugland, Co-Founder and Partner of Carbon Limits Nigeria said.

Last week, the UK government announced plans to phase out imports of Russian oil products by the end of 2022 and a possible ban on natural gas from the country.

California’s demand for electricity could nearly double by 2045 as the state phases out gasoline-guzzling automobiles and weans buildings off natural gas. Load on the state’s grid could rise 60% to 90% as a flood of electric vehicles hits roads and people swap out gas-burning stoves and hot water heaters for electric ones, according to a study … Read more