The EIA’s most recent annual data for 2021 shows that the net disposition of natural gas in the US increased by 3.6% in 2021 compared with 2020 as a result of growth in LNG exports.
High natural gas prices will continue to drive down European demand to 7% below the five-year average through March, leaving a best-case scenario of storage levels at 31% at winter’s end.
The company has stated that its investment policy is designed to transform TotalEnergies into a multi-disciplined energy company, which will help it achieve its net zero target by 2050.
As the global energy crisis deepens and countries scramble to secure reliable energy sources, investments in new LNG infrastructure are set to surge, reaching US$42 billion annually in 2024.
An average of 49.0 billion ft3/d of LNG was traded globally during 2021, an increase of 2.2 billion ft3/d from 2020, according to The LNG Industry GIIGNL Annual Report 2022.
Wood Mackenzie states that a rewriting of energy trade flows is now underway following the complete ban on Russian commodity exports.
According to GlobalData, 40% of Italy’s gas imports are from Russia, and turning to Qatar is only a very short-term solution to overcome this.
The FSRUs are intended to strengthen the security of gas supply into Germany, with the total capacity being equivalent to approximately 30% of Russian gas imports into the country.
PGNiG has announced that Gazprom has halted all natural gas supplies under the Yamal contract, effectively breaching their contract.
Lithuania have completely abandoned Russian gas imports in response to the war in Ukraine and the resulting energy crisis in Europe.