Natural gas prices in Europe are likely to plummet further on lackluster demand from power generation and industry. This downward trend has led traders and industry officials to consider the possibility of day-ahead prices dipping below zero in some European markets during the summer, according to a report by Oilprice. According to the report, several […]
Europe
Posted inNews
‘Worst yet to come’ for Europe’s energy crisis, Qatari minister warns
Qatar’s energy minister warned on Tuesday the “worst is yet to come” for Europe’s oil and gas shortages, saying a warm winter had prevented greater difficulties in recent months, according to an AFP report. Saad al-Kaabi and his Saudi counterpart Prince Abdulaziz bin Salman said a lack of investment in oil and gas, as the […]
Posted inNews
All you need to know about the ‘unprecedented’ Nord Stream pipelines leak
Scientists fear that methane erupting from the burst Nord Stream pipelines could be one of the worst natural gas leaks ever
Posted inMarkets
Russia threatens to halt energy supplies to Europe as energy crisis deepens
Putin’s comments follow G7’s plans to impose a price cap on Russian oil exports last week
Posted inNews
Nord Stream: Russia restarts gas flow to Europe at 40% of pipeline’s overall capacity
Further disruptions are expected as winter approaches, according to Wood Mackenzie, which outlines two scenarios for Europe in case of Nord Stream flows
Posted inNews, Exploration & Production
Europe gas supply at risk as Russia’s rubles payment deadline approaches
Russia says it demands only rubles for its gas and will not ship gas for free
Russia’s insistence that its “unfriendly” nations pay in rubles for Russian natural gas risks disrupting European supplies as soon as this week as the deadline set by Putin for moving to ruble payments is drawing closer. Europe, which depends on Russian natural gas for more than one-third of its demand—with some countries, including the biggest […]
Posted inNews
Qatar could benefit as Europe shuns Russian gas, says S&P
As one of the world’s biggest LNG producers, the country could benefit from increased demand
S&P Global Ratings said that it believes the EU’s planned diversification from Russian gas could have a positive implication for Qatar’s state energy producer QatarEnergy (QE). The European Commission announced earlier this month plans to remove EU reliance on Russian fossil fuels by the end of the decade. The decision was taken following Russia’s invasion […]
Posted inNews
Natural gas markets to see very volatile 2022
Europe is going into the winter with gas inventories at the lowest level in nearly a decade
Global natural gas prices are set for another year of volatility, following 18 months of swings from record lows to record highs. As natural gas demand started to rebound this summer amid depleted stocks in Asia and Europe following a long and cold winter, prices skyrocketed in the autumn to record highs. This forced gas-intensive […]
Posted inExploration & Production
Tapping working gas volume could cushion blow of Europe’s energy crunch
Supply and demand fluctuate for European gas as winter sets in
European gas storage has been struggling to fill this summer. Storage at the beginning of November will be about 75% full, at 83 billion cubic metres (bcm), 14 bcm below the five-year average, rattling the market. A cold European winter could result in storage levels falling to zero by the end of March 2022, unless […]