Gas

An EU regulation on a gas price cap has come into effect. Two months ago, EU energy ministers agreed on a European Council regulation that sets a market correction mechanism to protect households and businesses against excessively high prices. The measure, which is temporary and will apply for one year, …

European natural gas prices are set to move higher through the rest of the year, futures contracts show, a sign that the energy crunch isn’t over yet. Benchmark Dutch futures for December are currently priced above €60 per megawatt-hour, compared with about €54 for March. Both are elevated for their …

The European Union expects Egypt to maintain “relatively high volumes” of liquefied natural gas (LNG) deliveries to Europe, EU Energy Commissioner Kadri Simson said yesterday. Speaking to Reuters on the sidelines of an energy conference in Egypt, Simson said: “Now we have to solve some of the bottleneck issues.” “We …

European natural gas prices fell to the lowest level in almost four weeks as confidence grows for stable power generation through the remainder of winter. Benchmark futures slid as much as 4.5% before paring some of the loss. Sweden downgraded its power-cut risk to “low” from “real” in a sign …

Africa’s gas share in the global market will increase to over 11% of all gas supplies by 2050, according to a report by Gas Exporting Countries Forum (GECF), from 6% in 2021. Production is projected to increase from 260 billion cubic meters in 2021, to 585 billion cubic meters in …

Russia and China signed an intergovernmental agreement on gas supplies on the Far East route. The Russian Ministry of Energy has prepared a draft government decree to ratify the agreement. This intergovernmental agreement provides for the construction of a cross-border section of the gas pipeline. It starts at the Gas …

The recent powerful earthquake in Turkey may postpone the establishment of a gas hub in the country, but this project will be implemented nonetheless, the Kremlin said. “Of course, it [the gas hub project] cannot be a priority for Turkey right now. We treat it with understanding. Consequently, there may …

European natural gas slipped with the end of a short-lived cold spell in sight while healthy stockpiles are helping tackle any boost in demand. Benchmark futures fell as much as 2.3%, after two days of modest gains. The ongoing chilly weather in parts of western and central Europe, coupled with …

India plans to secure long-term deals for the supply of liquefied natural gas in a bid to reduce the share of coal in its energy mix. The biggest gas importer on the subcontinent, Petronet, is looking to secure some 12 million tons of LNG annually in additional supply under long-term …

Russian gas company Novatek is open to accepting payments in Indian rupees for any LNG term deal it signs with Indian gas entities, its chairman Leonid Mikhelson said on the sidelines of the Indian Energy Week on Feb. 6. Novatek is in talks with state-owned gas utility GAIL and other …