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North American energy markets are highly integrated and interdependent

“Today’s North American energy markets are highly integrated and interdependent, and we are pleased to see the Senate recognise the enormous benefits these markets provide for the US economy and consumers,” said Gerard.

“By expanding the size of our energy markets, this energy integration creates economies of scale that attract private investment, lower capital costs, and reduce energy costs for consumers and businesses.
“NAFTA has played a critical role in facilitating North American energy integration, which enhances US energy security, supports millions of American jobs in the oil and natural gas industry, and helps make energy more affordable.
API President and CEO, Jack Gerard, welcomed a letter sent by eight US Senators to US Trade Representative Lighthizer emphasising the importance of North American energy markets to American consumers and US energy security in advance of the North American Free Trade Agreement (NAFTA) renegotiation.
Last week, the House sent a letter to USTR on energy priorities that was applauded by API.

European energy markets started to feel the impact of the escalating diplomatics

EU energy
referring to European energy markets started to feel the impact of the escalating diplomatic row in the Middle East after natural gas prices soared when tankers full of Qatari fuel abruptly changed course, reported Bloomberg.
European gas traders count on Qatar, the region’s biggest LNG supplier, to help refill storage sites depleted after the key winter heating season.
The LNG tankers, the Zarga and Al Mafyar, turned around off the coast of Yemen, according to ship-tracking data on Bloomberg.
If the ships stay east of Suez, that would mean more Qatari gas left in the Pacific basin, pressuring Asian LNG spot prices and supporting European hub prices, he said.
The vessels may be sailing around Africa to Europe to avoid the Suez Canal, the Paris-based cargo-tracking company Kpler SAS, wqs quoted as saying in the report.

collected by :Dicson Walt

 

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