Gas prices in Europe increased by more than 7% and surpassed $1,700 per 1,000 cubic meters, according to London’s ICE. The price of the January futures on the TTF hub in the Netherlands increased to $1,732 per 1,000 cubic meters, or 148.87 euro per MWh. By the closure of the …
Read More »Russian Gas Exports Drop Sharply to Europe via Yamal Pipeline
Russian natural gas deliveries to Germany through the Yamal-Europe pipeline dropped sharply on Saturday, data from German network operator Gascade showed, adding pressure to an already tight European gas market as it heads into peak winter demand. It was not immediately clear why flows were down through the pipeline, one …
Read More »Europe’s Gas Prices Plunge as Russia Signals more Supply is Coming
The European natural gas benchmark prices tumbled by 15% early on Friday after Russia’s gas giant Gazprom booked last-minute capacity on a pipeline to ship extra gas to Germany via Poland in the coming days. The benchmark price for Europe at the Dutch Title Transfer Facility (TTF) has seen some …
Read More »The World Energy Balance is Changing before Our Eyes
On winter’s eve, Europe found itself in an unprecedented energy crisis. The oversupply of fuel observed over the past two years, leading to lower prices, was quickly replaced by an unparalleled shortage which shocked the continent’s electricity production and hit the lives of ordinary citizens. The energy crisis that gripped …
Read More »Gazprom’s Export Growth Slows as Europe’s Energy Crisis Worsens
The pace of Gazprom’s natural gas exports’ growth to Europe has slowed in recent months to just under five percent, according to data published by the Kremlin-backed gas giant yesterday. Gazprom revealed its natural gas exports outside the former Soviet Union bloc between January and December had increased 4.8 percent …
Read More »Russia Puts the Blame on Europe as Energy Crisis Worsens
The European Union (EU) is reportedly reconsidering its position on extending long-term natural gas contracts beyond 2049 as part of reforms in its natural gas market to meet the net-zero by 2050 goal. Should the European Commission’s proposal be endorsed by EU heads of state and government this week, putting …
Read More »Europe Plans to End Long-Term Gas Import Contracts as Prices Soar
The European Union is planning a hard deadline to end long-term contracts to import natural gas as part of its green shift, a setback for top supplier Russia. The bloc’s executive arm wants to prevent such contracts from being extended beyond 2049 in a sweeping overhaul of its energy markets, …
Read More »Berlin’s Block of Nord Stream 2 Takes Toll on European Gas Prices
The price of natural gas in Europe on Tuesday rose to $1,400 per 1,000 cubic meters after Germany said Russia’s Nord Stream 2 pipeline could not be greenlighted for launch, citing rising tensions on the Ukrainian border. The price of January futures on the TTF hub in the Netherlands rose …
Read More »European Gas Futures Soar as U.S. Weighs Sanctions against Russia
On Tuesday, European natural gas futures jumped after U.S. and European allies weighed new sanctions against Russia if it should invade Ukraine. Cold weather is not the only driver of natgas prices but also geopolitical instability in the region has helped push prices near 100 euros per megawatt-hour. According to …
Read More »European Gas Prices Jump as U.S. Weighs more Sanctions on Russia
European natural gas futures extended Monday’s gain as traders weigh fresh risks to winter supplies. Dutch front-month prices rose as much as 5.6% after Royal Dutch Shell Plc canceled several liquefied natural gas shipments after an outage in Australia, which will intensify global competition for spot cargoes. Traders are also …
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