• About
  • Privacy & Policy
  • Contact Us
Procurement Nation
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Contact Us
No Result
View All Result
  • Home
  • Suppliers
  • Procurement
    • Shipping
    • Best Procurement Software
    • Supply Chain
      • What is supply chain management?
      • Tyson Foods Food Supply Chain
  • Markets
  • Banking
  • Contact Us
No Result
View All Result
Procurement Nation
No Result
View All Result

Equinor expects fundamentals behind European gas rally to remain

Mark White by Mark White
September 15, 2021
in Suppliers
0


Equinor’s flag in Stavanger, Norway December 5, 2019. REUTERS/Ints Kalnins/File Photo

OSLO, Sept 15 (Reuters) – Norway’s Equinor (EQNR.OL) expects the fundamentals driving the current high price of natural gas in Europe to remain in place during the coming autumn and winter seasons, Chief Financial Officer Ulrica Fearn told an energy conference on Wednesday.

The price of natural gas has surged to record levels in Europe, driving up power prices as the winter heating season approaches with below-average levels of gas in storage.

“It’s being pushed by weather anomalies, by general inflation in commodity prices and supply chain bottlenecks…, but mainly the prices are driven by basic fundamentals of tight supply and high demand,” Fearn said.

“The price signals clearly indicate that Europe needs our gas more than ever.”

Equinor, Europe’s second largest gas supplier after Russia’s Gazprom (GAZP.MM), was ramping up gas production where it could, including at Norway’s giant Troll field, in order to meet demand, Fearn said.

“We are approaching the winter season with storage below average levels, so we do see these fundamentals continuing into the autumn and winter,” she said.

Writing by Terje Solsvik, editing by Gwladys Fouche

Our Standards: The Thomson Reuters Trust Principles.



Source link

Previous Post

EXCLUSIVE Mexico’s Pemex cancels several Vitol contracts after graft scandal

Next Post

Supply Chains Latest: Britain Puts Off Brexit Checks in Supply Crunch. – Bloomberg

Mark White

Mark White

Mark White is the editor of the ProcurementNation, a Media Outlet covering supply chain and logistics issues. He joined The New York Times in 2007 as an commodities reporter, and most recently served as foreign-exchange editor in New York.

Next Post

Supply Chains Latest: Britain Puts Off Brexit Checks in Supply Crunch. - Bloomberg

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • About
  • Privacy & Policy
  • Contact Us
Call us: +1 234 JEG THEME

© 2021 Procurement Nation - Supply Chain & Logistics News

No Result
View All Result
  • Procurement
  • Supply Chain
  • Logistics
  • Science
  • Technology

© 2021 Procurement Nation - Supply Chain & Logistics News