Natural Gas

Failure of gas talks puts Europe on edge

The New York Times

Some European nations are concerned that their energy supplies could be at risk after a second day of talks between Ukraine and Russia over a natural gas payment dispute ended without a deal, The New York Times reports.

Gas utilities proactive ahead of expected methane standards


As federal regulators weigh new standards on methane emissions from natural gas drilling sites, the American Gas Association has developed voluntary guidelines urging gas companies to replace old pipes and limit future damage, Bloomberg reports.


Oil barely changed after World Bank forecast

The price of oil bounced around before finishing with a slight gain Wednesday. U.S. supplies declined more than expected, but a reduction in the World Bank's estimate of global economic growth raised concerns about demand.

Benchmark U.S. oil for July delivery rose 5 cents to $104.40 a barrel on the New York Mercantile Exchange.

Brent crude gained 43 cents to $109.95 a barrel on the ICE Futures exchange in London. The benchmark for international oils got a boost from tensions in Iraq.

Ukraine rejects Putin's offer of gas discounts

MOSCOW (AP) — Ukraine has rejected Russia's offer of a discount for gas shipments, which President Vladimir Putin touted as a "partnership deal."

Ukrainian Energy Minister Yuri Prodan told Russian news agencies on Wednesday that Kiev found the deal unacceptable.

Prodan said Ukraine was seeking a price lower than $385 per 1,000 cubic meters, which is what Ukraine had been paying until late last year and which is what Putin offered. The minister said the Ukrainian government now believes that arbitration is the best option to solve the dispute.

EIA projects record natural gas output for 2014


The Energy Information Administration in its Short-Term Energy Outlook projected that natural gas output would reach 73 billion cubic feet a day this year, setting a new record for production, Bloomberg reports.


Oil prices rise on OPEC expectations, Iraq jitters

The price of oil rose on Wednesday ahead of an OPEC meeting in Europe that is expected to keep production levels steady for the year even as demand looks set to grow.

Energy markets were also affected by al-Qaida-inspired militants overrunning much of the Iraqi city of Mosul on Tuesday. Mosul lies in an area that is a major gateway for Iraqi oil.

Benchmark U.S. oil for July delivery was up 29 cents to $104.64 a barrel at 0820 GMT in electronic trading on the New York Mercantile Exchange. On Tuesday, the contract fell 6 cents to close at $104.35.

Gazprom gives Ukraine six-day extension on gas talks

The Wall Street Joournal

Gazprom Chief Executive Alexei Miller said the company has granted Ukraine six days to reach an agreement on natural gas payments with Russia before it considers making good on a threat to cut off supplies, The Wall Street Journal reports.

Chesapeake spin off will help company cut $1.1B debt


Chesapeake Energy's move to spin off its rig business into Seventy Seven Energy this month will allow the company to transfer $1.1 billion in debt to the new company, FuelFix reports.

Russia relaxes deadline as Ukrainian gas talks continue


Russia agreed to back off a natural gas payment deadline that expired today as negotiators prepare for another round of talks in Brussels to settle a pricing dispute with Ukraine, Reuters reports.

IEA projects slower gas demand growth through 2019


The International Energy Agency projected that demand for natural gas would grow at a slower pace than expected through 2019, due in part to tepid economic growth and greater competition from coal and renewable energy, Bloomberg reports.


Subscribe to Natural Gas