The world’s demand for natural gas is set to decline slightly in 2022 as a result of higher prices and market disruptions caused by Russia’s invasion of Ukraine, according to the International Energy Agency’s l(IEA) latest quarterly update. The expected small contraction in global gas demand compares with the IEA’s …
Read More »EU Set to Discuss Joint Gas Buying in Bid to Cut Russian Reliance
The leaders of the European Union member states are expected to discuss at their summit at the end of May the idea of jointly buying natural gas to avoid competing with each other for non-Russian supply as the EU seeks to cut its dependence on Moscow, Bloomberg reported on Thursday, …
Read More »Greece could be Sitting on “600 Billion Cubic Meters” of Natural Gas
Greece could be sitting on natural gas reserves of more than 600 billion cubic meters, a senior executive of its hydrocarbons commission told Reuters on Thursday. As Greece accelerates gas exploration to cut its reliance on Russian energy, Chief Executive Officer of Greece’s hydrocarbons commission Aristofanis Stefatos told Reuters that …
Read More »Greece to Boost Gas Exploration Efforts to Cut Russian Dependence
Greece plans to step up efforts to explore for natural gas in an attempt to reduce its 40-percent reliance on Russian gas, Greek Prime Minister Kyriakos Mitsotakis said on Tuesday. “Accelerating the exploitation of the country’s national energy resources will allow us, if we are lucky and we have exploitable …
Read More »European Gas Prices Rise Once again with Ukraine Supplies Expected to Fall
European natural gas prices edged higher, following seven sessions of declines, with Russian supplies through Ukraine expected to fall. Orders dropped to about 68pc of the amount that Gazprom PJSC can send under its transit contract. The Russian company reiterated that flows were in line with requests from customers. Supplies …
Read More »New Sanctions Deal Fatal Blow to Russia’s Arctic LNG
The EU’s fifth round of sanctions against Russia following the its attack on Ukraine will hit hard on the country’s energy industry. Among the points in the restrictive measures is an export ban on goods such as quantum computers and advanced semiconductors, high-end electronics, software, sensitive machinery and transportation equipment. …
Read More »Algeria to Expand Natural Gas Exports to Italy by almost Half
Algeria is set to boost its natural gas exports to Italy by almost 50% with a new deal due to be signed Monday, people familiar with the matter said. The export boost will probably lead Algeria to replace Russia as Italy’s largest natural gas supplier. The north African country will …
Read More »EU, Egypt to Boost Cooperation on Natural Gas
Egypt and the European Union will enhance cooperation in energy, the Egyptian cabinet said after a meeting between Prime Minister Mostafa Madbouly and Frans Timmermans, the EU’s climate chief, in Cairo. The delegations discussed the potential supply of liquefied gas to Europe through regional partnerships in the short term, and …
Read More »Replacing Russian Gas in Europe Challenging in Short Term
Replacing Russian natural gas in Europe could be challenging in short term and it will keep gas prices high, Fitch Ratings said on Friday. Europe imports around 60% of its total natural gas demand, as Russia is supplying about a third of the continent’s consumption – 152 billion cubic meters …
Read More »Ukraine Grid Warns Russia Actions could Affect Europe Gas Flows
Ukraine’s gas grid warned that flows through Europe could be affected as Russia and illegal armed forces are disrupting operations at a key compressor station. Occupiers are interfering with operations at the Novopskov gas compressor station in the in Luhansk region, Gas TSO of Ukraine said in a statement. The …
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