Tag Archives: Europe

Amid a slump in EU gas prices, the continent is rushing to diversify its natural gas imports. Oilprice.com wrote yesterday that Russian gas giant Gazprom has seen its 2022 revenue and market share in Europe collapse as a result of Western sanctions. While Russia is busy trying to re-route exports …

Last year, Europe was in the grips of a gas crunch that sent the price of electricity—and everything produced with its participation—soaring. Then the crisis eased, thanks in no small part to the unusually mild winter as well as to record high U.S. LNG imports. Now, food prices are soaring. …

At the end of las week, gas prices on the European market dropped to their lowest level since June 2021. Last year’s upward chaos has been completely reversed, which may suggest that the continent is emerging from the energy crisis caused by the Russian invasion of Ukraine, according to Bloomberg. …

Algeria’s exports of liquefied natural gas (LNG) rose in the first quarter of 2023 compared to the same period of 2022, and the North African producer booked the highest LNG export growth rate among the Arab countries as Europe seeks to replace Russian pipeline gas supply. Algeria’s LNG exports rose …

The Egyptian Electricity Transmission Company signed a memorandum with Norwegian company Scatec ASA to start studies for the electrical interconnection project between Egypt and Europe to export renewable energy via Italy. The memorandum was signed on behalf of the Egyptian Electricity Transmission Company by Chairman of the Board of Directors …

Europe rushed to secure liquefied natural gas in an effort to ease a crippling energy crisis. Now, there’s a chance its plans to build more import terminals for the fuel have gone too far. From France to Poland, the region is looking to build LNG infrastructure, after Russia severely curtailed …

Low demand for natural gas has sent Europe’s benchmark gas prices towards a sixth consecutive weekly loss—the longest run of weekly losses since 2020. The front-month futures at the TTF hub, the benchmark for Europe’s gas trading, fell by 3.7% to $36.80 (33.80 euros) per megawatt-hour (MWh) as of 12:27 …

India has become Europe’s largest supplier of refined fuels this month while simultaneously buying record amounts of Russian crude, according to data from analytics firm Kpler. Europe’s reliance on Indian crude oil products has grown since the ban on Russian oil. Europe’s refined fuel imports from India are set to …

Norway will nationalize all of its natural gas pipelines within the next five years, the country’s oil and energy ministry said on Friday. The nationalization plan would provide Norway with greater control over its critical infrastructure. Standing in the way of an immediate nationalization are existing concessions, which aren’t due …

Italian energy major Eni on Tuesday launched the construction works for the first natural gas liquefaction project in the Republic of the Congo, which is expected to supply LNG to Europe. The President of the Republic of the Congo, Denis Sassou Nguesso, and Eni’s CEO Claudio Descalzi today laid the …