Gas

The high prices and volatility we are seeing in the European gas market go beyond current market tightness, cutting to the heart of a very real concern: will there be enough gas this winter to meet demand? And the answer is: it depends. Many factors will influence how the European …

Earlier this week, the price of gas futures in Europe broke a new record, exceeding $1,900 per 1,000 cubic metres, before falling by $740 and temporarily stabilising at about $1,198. The already strained European gas markets may become more volatile next week, when bad weather is expected to increase demand …

Europe may face gas shortages this winter if the cold weather depletes storage levels to zero, leaving the region entirely dependent on additional flows from Russia, according to consultant Wood Mackenzie Ltd. If Europe and Asia experience cold winters, there won’t be enough gas to meet demand unless extra volumes …

Russia has been gradually increasing gas deliveries to Europe over the past nine months, boosting exports by 15% compared to last year and edging toward record gas deliveries via all routes, including Ukraine, Gazprom Export says. According to company CEO Elena Burmistrova, from January to September this year Russia’s state …

Germany’s energy regulator said the Nord Stream 2 pipeline must show it would not break competition rules by limiting which suppliers used it and could face a fine if it started pumping Russian gas to Germany without securing necessary approvals. Nord Stream 2, a project led by Gazprom, which has …

European Union countries have enough gas in storage to go through the winter, but the surge in gas prices shows the need to quickly switch to renewable sources and analyse the idea of a strategic EU gas storage and joint buying, European Energy Commissioner Kadri Simson said. “Gas underground storage …

Energy prices are soaring around the world as the global economy’s rebound from the COVID-19 pandemic strains with decrease of supplies ahead of a predicted long winter in the Northern Hemisphere. This increase is particularly high in Europe, where gas prices are trading near record levels. Not only households are …

Azerbaijan can boost natural gas exports to Europe but needs to secure new sales contracts first, said President Ilham Aliyev. If talks started now, Azerbaijan would be ready to increase exports as soon as next winter, Aliyev said in an interview with Spain’s EFE news service, the text of which …

Qatar Petroleum said Sept. 29 that it had reached an agreement to supply 3.5 million mt/year of LNG to China over 15 years. The long-term sale and purchase agreement with CNOOC Gas and Power Trading & Marketing Ltd., a subsidiary of China National Offshore Oil Corp., starts January 2022, QP …

A recently discovered natural gas field in the Black Sea is set to provide nearly a third of Turkey’s domestic needs when it reaches peak production capacity by 2027, Energy Minister Fatih Dönmez has told Bloomberg. Turkey may be able to start with an initial annual production capacity of 3.5 …