Several utilities urged customers to cut back on power and gas use on Thursday during the brutal freeze blanketing the eastern half of the country after U.S. homes and businesses used record amounts of natural gas for heating on Wednesday
natural gas market
Russia has long been the dominant source and supplier of natural gas to Europe’s mass market but the U.S. is looking to challenge Russia by stepping up its imports of U.S. liquefied natural gas (LNG)
Australia overtook Qatar as the world’s largest exporter of LNG for the first time in November, after the start-up of a number of export projects over the past three years, most recently the Ichthys facility.
Qatar Petroleum to invest $20 billion in U.S. over the coming few years, after the Gulf Arab state unexpectedly quit OPEC this month
Qatar, a tiny but wealthy country is one of the most influential players in the LNG market due to its annual production of 77 million tonnes. It plans to boost capacity 43 percent by 2023-2024 and will be building four liquefaction trains for the LNG expansion.
As part of its more than $20 billion investment push in the U.S. QP is looking “at gas and oil, conventional and non-conventional”
Russia is seeking to boost its power in Europe and grip over Ukraine with the proposed Nord Stream 2 natural gas pipeline
“Through Nord Stream 2, Russia seeks to increase its leverage of the West while severing Ukraine from Europe,” Francis Fannon, the U.S. assistant secretary for energy resources at the State Department, told reporters in a teleconference.
Last year Eni sealed its first deal in Oman, winning a majority stake in offshore acreage and selling on part to Qatar Petroleum. This year it took a first step into Abu Dhabi, paying $875 million for stakes in two oil concessions and then buying part of the giant Ghasa gas field from state oil group Adnoc.
Russia is expanding its foothold in the fast-growing natural gas market despite Western efforts to limit Moscow’s energy influence
Russia has emerged this year as a major player in the burgeoning market for liquefied natural gas