Germany’s government has taken another important step to reduce dependence on Russian energy imports by agreeing on a formulation of the draft law on the acceleration of the use of LNG.

Germany took steps to ramp up liquefied natural gas (LNG) imports on Thursday as it moves away from piped Russian supply, renting four floating storage and regasification units (FSRUs) and choosing the North Sea port of Wilhelmshaven as the first handling hub.

US president Joe Biden has announced his administration is banning all Russia-linked vessels from the country’s ports, effective April 28, 2022.

Italian oil and gas company Eni has agreed with The Republic of Congo to increase gas production and supply primarily through the development of an LNG project that is to start in 2023.

An international liquefied natural gas (LNG) body has appealed to governments to help mitigate fuel price spikes and promote new LNG developments to secure a stable global supply.

UK-based oilfield services provider EnerMech has won its second long-term deal to support the Inpex-operated Ichthys LNG development in Australia with a subsidiary of Japan’s oil and gas player Inpex. The latest contract is for the provision of technical support and maintenance services.

Australian energy giant Woodside has received key approvals for the execution of its operated Scarborough project located offshore Western Australia.

Excelerate Energy Inc, founded by oil and gas tycoon George Kaiser, plans to raise up to $384 million through a U.S. initial public offering that could value the Texas-based liquefied natural gas (LNG) company at about $2.54 billion.

New Fortress Energy Inc on Thursday proposed to build the first offshore U.S. liquefied natural gas (LNG) export facility and have it running in 12 months, a relatively short time amid a market hungry for the liquid gas.

The United States and the European Union have made substantial steps to ensure and strengthen European energy security, reduce reliance on Russian fossil fuels, and reduce Europe’s overall reliance on gas. As part of their plans, the U.S. will supply 15 billion cubic meters of LNG to the EU this year.