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News

Gas crisis lands LNG cargo market in hands of energy giants

By Marwa Rashad and Chen Aizhu LONDON/SINGAPORE, Sept 27 (Reuters) - Rocketing LNG cargo prices have squeezed out dozens of smaller traders, concentrating the business in the hands of a handful of international energy majors and top global trading houses. This grip is not expected to ease until 2026 when more liquefied natural gas (LNG) starts to materialise and lower prices, adding to supply worries for poorer states reliant on it to generate power and driving up costs for big Asia economies.
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How margin calls came to threaten Europe's energy firms

By Vera Eckert and Nora Buli FRANKFURT, Sept 16 (Reuters) - Soaring power and gas prices have rocked energy companies across Europe, forcing utilities and traders to secure extra funds from governments and banks to cover margin call requirements. Below is an outline of how they got to this point: EMERGING RISK? Europe has thousands of energy firms operating in a liberalised power and gas market intended to provide guaranteed competitive prices.
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Norway seeks to help EU cope with gas price pain after Russia cuts

* Norway has become Europe's biggest supplier of piped gas * High gas prices have boosted Norway's revenues * Some European power firms have been pushed to the brink * Russia says gas exports to EU in 2022 to drop by a third By Nora Buli and Nerijus Adomaitis OSLO, Sept 15 (Reuters) - Norway said on Thursday that sky-high gas prices were not in its interest and it would work with the EU to steady the market, although Europe's biggest supplier of piped gas is already at capacity trying to fill a
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Norway to continue to deliver gas reliably to Europe, says PM

OSLO, Sept 15 (Reuters) - Norway, Europe's largest supplier of piped gas, can best help solve the continent's energy crisis by continuing to deliver gas reliably, Prime Minister Jonas Gahr Stoere said on Thursday. "The most important thing we can do is to continue to deliver (gas) ... and make the market less unstable," Stoere told reporters after a meeting with Norwegian gas companies.
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Gas prices lift Norway's August trade surplus to record

OSLO, Sept 15 (Reuters) - Norway's trade surplus rose to a record 197.7 billion Norwegian crowns ($19.54 billion) in August, boosted by soaring prices for its gas exports to Europe, national statistics agency data showed on Thursday. With a daily output of around 4 million barrels of oil equivalent, almost equally divided between oil and gas, Norway has been a winner from the spike in global energy prices.
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