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Browse the latest market moving news on the global natural gas industry.
Australia’s Origin increases gas storage investment
Australia’s Origin increases gas storage investment
Sydney, 12 February (Argus) — Australian utility and part-owner of the 9mn t/yr Australia Pacific LNG (APLNG) Origin Energy will spend another A$25mn ($18mn) for a planned gas storage facility in Victoria state's offshore Gippsland basin. The 19PJ (507mn m³) capacity Golden Beach, to be operated by privately owned GB Energy, will enhance its east coast gas portfolio, Origin said in its half-year results to 31 December 2025 on 12 February. The company had already agreed to spend A$65mn on the project, which was also loaned A$32mn by the previous federal Coalition government in 2022. The nearshore Golden Beach field will produce gas for the domestic market in 2028 and transition to storage use the following year, GB has said, with a withdrawal capacity of 375 TJ/d. Southeastern Australia is presently grappling with projected structural gas shortfalls expected from 2028 unless new gas comes on line locally, LNG imports begin or storage is obtained. A combination of at least two of these is required, most experts said. The 26PJ Iona underground gas storage facility is the region's largest and assists with supply to Victorian capital Melbourne on peak demand days in winter, providing 100-400 TJ/d or up to 30pc of the state's gas demand. Profit dips Origin's underlying profit fell to A$593mn in July-December 2025, down from A$924mn a year earlier due to reduced earnings in the integrated gas division. Underlying earnings before interest, taxes, depreciation, and amortisation for integrated gas were A$860mn, down by 31pc from A$1.25bn in July-December 2024, due to lower realised APLNG prices and volumes and lower trading gains. Argus ' Gladstone fob price, an LNG netback indicator calculated by subtracting freight and costs associated with production from the delivered price of LNG to Asia-Pacific, averaged $10.74/mn Btu for the second half of the year, down from $12.70/mn Btu a year earlier. Guidance for gross APLNG gas production in 2025-26 remains at 645-680PJ, as reported last month . By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
Low Slovak stocks may boost regional import demand
Low Slovak stocks may boost regional import demand
London, 10 February (Argus) — Slovakia is likely to end the heating season with record-low gas inventories, potentially forcing the country to more than double summer imports to support injections. Slovak storage withdrawals have intensified this winter. Inventories fell to 13.7TWh on Monday morning, or 37pc of capacity, at a 7.1TWh year-on-year deficit ( see Slovak stocks graph ). This excludes the 6.9TWh Dolni Bojanovice storage site that is located in the Czech Republic but is connected to Czech and Slovak gas grids. Dolni Bojanovice held 5.4TWh on Monday morning and was 77.5pc full. Assuming net withdrawals from sites located in Slovakia over the rest of the winter will hold at 147 GWh/d or 3pc above last year's rate — same as so far in the season — Slovak stocks could drop to about 6.4TWh, or 17pc of capacity, by the end of March. This would be down from 13TWh a year earlier and the lowest level for that date since 2022. Such a low starting point would sharply increase summer injection needs. Slovakia would need to more than double its injection pace compared with summer 2025, requiring about 26.6TWh of cumulative injections in April-September, roughly 12.7TWh more than last summer to reach a storage level of 33TWh by 1 October — the three-year average for the day in 2023-25. This is likely to increase competition for flexible summer volumes in landlocked central European countries where stocks are also likely to end winter at a multi-year low. Slovak prices have largely held at a premium to neighbouring markets in recent months, but demand for additional supply could potentially widen regional price differentials further, especially in peak injection months ( see Slovak price graph summer 2025 ). Slovakia's Russian gas share to fall on stronger injection needs Slovakia's higher import requirements ahead of the 2026-27 heating season could bring an earlier drop in Russian gas in its supply mix, reducing the country's reliance before a full phase-out next year. Slovakia's supply mix has changed since January 2025, when transit of Russian gas through Ukraine stopped, increasing imports from the west and LNG-linked routes. State-owned supplier SPP has a 6bn m³/yr contract with Russia's Gazprom until 2034, which was partly suspended in January 2025 as a lack of an interconnection agreement at the Ukrainian-Russian border narrowed delivery options for Russian gas. But while some of the contracted volumes have been imported to Slovakia through the 15.75bn m³/yr Turkish Stream pipeline since February 2025, it forced SPP to sign diversification contracts with BP, ExxonMobil, Eni and RWE. Flows from Hungary accounted for 65pc of Slovakia's gross imports last year, with 24pc coming from the Czech Republic and 11pc from Austria last year. The share of Hungarian deliveries was unchanged in summer, while imports from the Czech Republic made up 20pc and Austria 15pc. Deliveries at Velke Zlievce averaged 77.4 GWh/d in April-September, 24.4 GWh/d below the technical capacity of 101.8 GWh/d in that period, although nameplate capacity rose to 127.2 GWh/d from 1 December. But capacity at the Hungarian-Serbian Kiskundorozsma 2/Horgos point has been running close to its technical limit last year, leaving no scope to increase Russian gas deliveries into the region this year. This suggests that Russian-sourced gas remained dominant in Slovakia's supply mix, but substantially lower than in 2024 when the country received 99pc of gross imports at the border with Ukraine. But with injection needs set to almost double this summer and limited technical capacity to receive Russian volumes, the share of Gazprom-contracted gas could fall this summer, if Slovakia wants to replenish its stocks and meet EU-mandated targets of 90pc in 1 October-1 December. Slovakia can receive Russian gas only for the next two injection seasons because EU legislation requires a complete phase-out of Russian supply by September 2027 . The EU needs to complete strategic infrastructure in Germany and Austria and strengthen capacity along supply routes from Poland and Greece to cope with the challenges posed by the new EU legislation, Slovak economy minister Denisa Sakova said on 29 January. And costs to transport gas need to be lowered by adjusting tariff-setting methodology in EU legislation, Sakova said. By Victoria Dovgal Slovak gas stocks TWh Slovak price vs German vs Austrian VTP €/MWh Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
New Zealand plans LNG imports to tackle energy deficit
New Zealand plans LNG imports to tackle energy deficit
Sydney, 10 February (Argus) — New Zealand will abandon its long-standing gas self-sufficiency and begin importing LNG from 2027, as the government races to prevent future energy shortages after years of declining domestic output. The government has shortlisted six contractors and will award a contract by mid-2026, it said on 9 February, ahead of the completion of an LNG terminal, expected to be ready as early as mid-2027 . LNG will supplement dwindling supplies from New Zealand's Taranaki basin, where investment has stalled due to political disputes over the future of fossil fuels. Construction costs for the terminal are modelled at more than NZ$1bn ($600mn), with a levy on power consumption to be imposed. Wellington says it cannot waste time in the face of an energy crisis, despite the costs. The country suffered soaring prices in 2024 when low hydroelectric inflows and cold weather drew attention to the worrying lack of back-up power. Future dry years could cause long-term effects on the economy, the government said, adding that urgency is now required. Last resort? New Zealand utilities sponsored a report into options for LNG importation in 2025. It found that LNG imports are feasible and large-scale shipments offer the lowest cost of supply. LNG is one of the most expensive fuels and more solar, wind and geothermal power should be partnered with coal and diesel peaking plants instead, say critics, including renewables lobby Rewiring Aotearoa. But gas-fired generation is the best insurance against dry years due to its ability to back up renewables and cap the price of gas, which could soar again due to rapidly depleting fields, the government said. New Zealand could take as little as 12PJ of gas or about 218,000t of LNG, which could help smooth electricity supply in the winter of a dry year, the government said. The country's business, innovation and employment ministry (MBIE) prepared alternative options including biomass or coal-fired power plants, diesel-fired generation and new renewable projects, but none provided the speedy solution Wellington was seeking. No takers New Zealand is not a gas-poor country. Its relatively small population and industrial base, including methanol, metals refining and food manufacturing sectors, were reliant on Taranaki basin gas plants for many decades, with surplus supplies to firm the grid at times of low hydro inflows. But a cratering of investment in the sector followed a 2018 decision by the previous Labour-led government to end the awarding of new exploration blocks outside of the onshore Taranaki basin. Gas production fell on the year for the eighth consecutive quarter in July-September 2025 , MBIE data show, with 2027 annual output predicted at just 95 PJ/yr, from 107 PJ/yr in 2025. The "structural and significant" gas shortage is leading to increases in electricity prices , a leading energy executive warned in 2025. Meanwhile, investment in electrification and new sources of energy, such as hydrogen, have failed to materialise, leading the National-led government to reverse the ban on exploration in 2025 . Importing LNG is de facto recognition that with broad opposition on the political left to increasing gas output, the country cannot expect any fresh investment in the sector, a point echoed by Australian independent Beach Energy, which is shifting its focus to Australian markets from New Zealand due to political uncertainty in the latter. New Zealand's stance on gas has been noted across the Tasman Sea. Victoria state, a gas-hungry jurisdiction that banned onshore exploration last decade and continues to restrict unconventional gas production, has softened its language in recent years, wary of the enormous cost facing the state should supplies deplete. With LNG imports considered increasingly likely , particularly if coal-fired generators are retired as expected, the role of gas in backing up New Zealand and Australia's vast renewable power capacity is becoming increasingly accepted by policymakers. By Tom Major Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
E15 'council' convenes without Dem. lawmakers
E15 'council' convenes without Dem. lawmakers
New York, 5 February (Argus) — A council of Republican lawmakers tasked with negotiating major changes to US fuel policy held its first meeting Tuesday evening, leaving out Democrats that had pushed for a seat at the table. The US House of Representatives last month punted on a proposal that would have allowed year-round sales of gasoline with up to 15pc ethanol (E15) and restricted how many refiners can win hardship exemptions from annual biofuel mandates. Instead, lawmakers tasked a new "rural domestic energy council" with developing policy recommendations by 15 February in the hopes that Congress will weigh legislation by 25 February. The full council met for the first time Tuesday evening, four people familiar with the matter said. The task force includes more than 20 House Republicans with a range of views on biofuel policy, but no Democrats, two of the people said. The office of House speaker Mike Johnson (R-Louisiana), who was in charge of appointing council members, did not respond to Argus' requests for comment. "My Democratic colleagues and I have been clear about the need for Democratic voices on this council — a concern leadership has so far failed to address," representative Nikki Budzinski (D-Illinois) said. "I will continue to press for real, bipartisan action that our growers deserve." Proposals to expand E15 have historically drawn bipartisan support, particularly from Midwestern lawmakers keen to help the region's farmers. Democrats could still support legislation that includes an E15 deal even if left out of negotiations this month. But some lobbyists close to the debate privately doubt that the council will reach any substantial compromise, especially after the earlier E15 proposal drew strong opposition from mid-sized oil refiners that want to maintain their ability to avoid the costly biofuel quotas. The council includes members from states with those refineries, including Gabe Evans' district (R-Colorado), where a Suncor refining complex is located, while CVR Energy and HF Sinclair have units in council co-chair Stephanie Bice's state (R-Oklahoma). Some Republican US senators that have long wanted deeper reforms to the biofuel mandate program are also skeptical of the earlier proposal, complicating any deal's chance of passage. "The federal government should not force Americans to put ethanol in their gas tanks," senator Mike Lee (R-Utah) said. "It is not good for the economy, the environment or car engines. We should not subsidize the corn industry at the expense of hardworking American families." The latest E15 proposal was developed partly by the American Petroleum Institute — an influential lobby within the Republican Party — and has won the support of larger oil refiners like Valero. Farmers' and fuel groups that support the earlier bill have urged the council to focus narrowly on improving it, rather than considering more divisive fuel market issues too. President Donald Trump, who has backed the biofuel industry with a proposal last year for record-high blend mandates, has made clear that he would sign legislation expanding E15 access. He said in an Iowa speech last month that he was optimistic Congress could strike a deal. It is unclear when the council, which includes a number of farm-state biofuel supporters too, plans to meet again. The large majority of gasoline in the US is sold as a 10pc ethanol blend. Farm advocates have pushed for over a decade to loosen summertime smog rules that forbid sales of higher blends in much of the country without emergency waivers . By Cole Martin Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.
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