LNG news in Europe

Over 140 exhibitors from a variety of different fields have signed up to exhibit at StocExpo 2022, taking place in Rotterdam from 23 - 25 May.

Cheniere and Engie increase volume and extend term of LNG sale and purchase agreement, meaning that the new terms of their agreement will stretch beyond 2040.

The rise is a result of Russian exports becoming increasingly unpopular, the company states.

The Eagle Valence, TotalEnergies’ first new-build LNG-powered very large crude carrier (VLCC), is the first of a broader programme of six new-build tankers designed with LNG dual-fuel propulsion.

Following new government guidance, Shell has started a phased withdrawal from Russian LNG, whilst also donating profits from remaining Russian oil to humanitarian agencies to support Ukraine.

Ed Cox, Head of Global LNG at the Independent Commodity Intelligence Services (ICIS), discusses the options available to Europe in moving away from Russian gas, namely to the use of LNG.

With the Russia-Ukraine conflict causing major concerns over energy security issues, GIIGNL are mobilising to ensure stable, affordable, and flexible access to LNG imports.

Due to the conflict in Ukraine and sanctions on Russia, it is expected that LNG is set to help fill the gap on Russian gas in Europe’s energy mix.

Shell announced its intention to exit its joint ventures with Russian-owned Gazprom, focusing instead on supporting Ukraine as well as European security.

The technology group Wärtsilä will provide support for Viking Line’s new climate-smart flagship under a three-year contract signed in December 2021.