Free Republic

The leaders of Greece and Bulgaria on Friday marked the completion of a new pipeline that will supply natural gas from Azerbaijan to Bulgaria, whose vital supply of Russian gas was cut off in April amid the fallout over Russia's invasion of Ukraine. Greek Prime Minister Kyriakos Mitsotakis stressed the importance of the new link as an alternative supply line for Bulgaria, as neighboring Greece jockeys to become a regional energy transport hub. Greece is also building a liquefied natural gas terminal off the northeastern port of Alexandroupolis, near Komotini, which Mitsotakis said would in the future provide additional gas...

European natural gas inventories rose by +84 BCF over past 7 days. EU nat gas storage 63% full. Current inventories at 2396 BCF. 22.8% higher than 1 year ago. EU goal is at least 80% full by Nov 1st for winter.

For the first time ever, the European Union has imported in June more liquefied natural gas (LNG) from the United States than gas via pipeline from Russia, as Moscow slashed supply to Europe earlier this month, Fatih Birol, Executive Director of the International Energy Agency (IEA), said on Thursday. “The drop in Russian supply calls for efforts to reduce EU demand to prepare for a tough winter,” the head of the Paris-based agency added. In April 2022 alone, five European countries—France, Spain, the UK, the Netherlands, and Poland—accounted for 54.1% of total U.S. LNG exports, data from the U.S. Energy...