Here is what’s going on in the natural gas industry around the world:
Canadians should expect to pay more at the pumps and to heat their homes this winter as demand is expected to outstrip supply for all of the energy sources, according to the National Energy Board.
The NEB’s latest Winter Energy Outlook says Canadians should expect unleaded gasoline to average between $1.20 and $1.40 per litre.
“As a result of U.S. refinery outages in the autumn, including the aftermath of Hurricane Sandy and low inventories in the U.S., Canadians can expect to pay slightly more for their gasoline this winter,” it said.
The NEB expects crude prices to be between $85 US and $95 US a barrel.
Aside from paying more to fill up this winter, the NEB believes consumers will also pay more to heat their homes.
Despite abundant supply, a seasonally normal winter weather forecast and a slow growing North American economy, natural gas prices are expected to be higher this winter as demand grows, it said.
Ukraine is planning to cut natural gas purchases from Russia to around 20 billion cubic meters (bcm) and import some 5 bcm of gas via a reverse flow from Europe in 2013, deputy board chairman of National JSC Naftogaz Ukrainy Vadym Chuprun has told a press conference in Kyiv recently.
“We will buy 27.5 bcm of gas from Russia this year… At first we though of purchasing 24 bcm in 2013, and now we are going to buy some 20 bcm,” he said.
Chuprun also said that currently Ukraine is receiving gas from Germany via a reverse flow at a price that is $100 lower than that of Russia’s Gazprom. In connection with this, Ukraine is planning to increase the volumes of reverse gas supplies from Europe.
Royal Dutch Shell PLC (RDSA) has lifted its force majeure on gas supplies to Nigeria Liquefied Natural Gas, a company spokesman said today.
The force majeure was lifted on Nov. 8, the spokesman said, after being put in place in early October because of a fire caused by oil theft on the Bomu-Bonny trunkline that hampered supply to Nigeria LNG.
A force majeure on Shell’s exports of Bonny Light and Forcados crude oil, declared later in October, remains in place, the spokesman added. Supply of Bonny Light was also affected by the fire on the Bomu-Bonny trunkline, while other incidents of oil theft and severe flooding in the Niger Delta dented supply of both Bonny Light and Forcados crude in the last month.
The spokesman didn’t say when this force majeure will be lifted.
A force majeure is declared when a company is unable to fulfill its contractual obligations to deliver the crude due to circumstances beyond its control.
On November 27, the Frankfurt Gas Forum will be held in Germany.
According to APA-Economics, the event will be held on the eve of passing of final decision of South Gas Corridor.
The organizer of the forum, Energy Steam CMG GmbH international oil and gas consulting firm targeted to support the investments in gas demand in Europe and increase the demand for infrastructure projects.
EU Energy Commissioner Günther Oettinger will be main speaker of the first annual FGF. Natural gas forum will be organized in Frankfurt for the first time. Main topics in the forum will be South Gas Corridor, Shahdeniz gas field and Europe energy safety.
Pipeline consortiums, world gas business leaders, EU officials, governments, financial and industrial analytics, energy specialists and international investment and financial organizations will participate in the forum.
SOCAR vice-president Elshad Nasirov, head of EU delegation to Azerbaijan, Ambassador Roland Kobia, Nabucco Gas Pipeline International GmbH managing director Reinhard Mitschek, TAP Managing Director Kjetil Tungland, Wolfgang Peters .Head of Supply & Capacity Caspian, Central Asia & Russia, RWE Trading &Supply, Gulmira Rzayeva of the Center for Strategic Studies of Azerbaijan (SAM), GDF-Sues Vice-President Philippe Hochart and other persons will make speeches.