Updated Aug 30, 2024
8/30/24
Global natural gas demand accelerated during the first half of the year at a rate well above the historical average, according to the International Energy Agency’s (IEA) latest quarterly report.
Alaska’s utility and pipeline regulator supported LNG imports as a “public necessity” as the state’s largest natural gas service provider progresses plans to stave off an expected supply shortfall.
Natural gas-fired power generation in Europe declined 16% year/year during the first half of 2024, driven partly by a sluggish recovery in industrial demand across the continent, according to the European Union (EU) energy watchdog.
The UK’s new Labour government won in a landslide election earlier this month and has promoted the island country as a “clean energy superpower,” moving away from the previous government’s emphasis on oil and natural gas.
A sustained heat wave over India since mid-spring has created a surge in natural gas-fired power generation, pushing LNG imports in May to the highest level in almost four years.
China, the world’s largest LNG importer, could bring in up to 80 million tons (Mt) this year as strong demand from the industrial, power generation, and transport sectors support consumption.
The European Union’s (EU) efforts to limit its dependence on Russian energy supplies have led to steep drops in natural gas consumption, helped to diversify suppliers and accelerated the transition to clean energy, according to a review of the initiatives.
National Grid plc announced it would sell the Grain LNG terminal in the UK, Europe’s largest import facility, to help fund its capital investment plans.
The European Union’s (EU) LNG demand is likely to peak this year and buyers on the continent are likely to be over-contracted by 2030 as efforts to displace Russian natural gas over the last two years have been successful, according to the bloc’s energy watchdog.
National Grid plc has asked Massachusetts regulators to approve a deal with Constellation Energy Corp. that could keep the Everett LNG terminal open to serve almost one million East Coast natural gas customers during periods of peak demand.