Post Tagged with: "Natural gas imports"

Iraq ‘Not Obliged’ to Abide by U.S. Sanctions on Iran: Foreign Minister

Iraq ‘Not Obliged’ to Abide by U.S. Sanctions on Iran: Foreign Minister

From Middle East Eye Agency Iraq’s foreign minister has said that his country is “not obliged” to abide by sanctions imposed by the US against Iran and would be pursuing options to continue trade. On 20 December, the US granted Baghdad a 90-day extension to a waiver on abiding by the sanctions that were reimposed on the Islamic republic in November. Trade between the two neighbouring countries is thought to amount to around $12bn, while Iran provides around 40 percent of Iraq’s electricity needs. Although Iraq faces possible censure by the US if it fails to cease its trading with Iran by the end of the waiver period, foreign minister Mohammed Ali al-Hakim said his country could continue relations with Iran. “These sanctions, the siege, or what is called the embargo, these are unilateral, not international. We are not obliged [to follow] them,” he said, speaking to a gathering of[Read More…]

January 3, 2019 - 12:58 pm Closing Bell Story, Energy News, International, LNG, Trade
Chart of the Week: Net Natural Gas Imports Lowest Since 1987

Chart of the Week: Net Natural Gas Imports Lowest Since 1987

Natural gas imports continue 8 year decline Net natural gas imports to the United States decreased 9% in 2014, continuing an eight-year decline, according to the Energy Information Administration (EIA). As U.S. dry natural gas production has reached record highs, lower domestic prices have helped to displace natural gas imports. Net natural gas imports totaled 1,171 Bcf in 2014, the lowest level since 1987, according to EIA data. The decrease in imports was driven largely by lower amounts of natural gas shipped in to the U.S. from Canada. About 98% of U.S. natural gas imports come from Canada. The large quantities of natural gas imported from Canada represented 7% of total U.S. natural gas consumption in 2014, down from 11% in 2009. U.S. natural gas exports also decreased in 2014, but at a slower rate than the decrease in imports, and were still 9% above the previous five-year average. Natural[Read More…]

May 21, 2015 - 12:22 pm Chart of Week, Oil and Gas 360 Articles