Renewable hydrogen is also part of a broader plan and series of directives aiming at increasing the share of renewable energies in EU’s energy consumption.

The potential for a ‘rebound’ or ‘return’ of Russian pipeline gas supplies to the European market has gained significant traction in the mainstream media

The French state partly owns Engie, which used to be among the biggest buyers of Gazprom's gas. Holleaux said Russia could supply around 20-25% of EU needs, down from 40% before the war.

Despite a strong start to the solar season in Europe, and record amounts of cheap new renewable capacity in Germany since the energy crisis, it’s natural gas that will increasingly decide how much households and factories in Europe’s biggest economy pay for electricity.

EU countries are expected to add 89 gigawatts of new renewable energy capacity in 2025, including 70GW of solar and 19GW of wind, according to Commission projections shared with Reuters. The projections are based on industry data.

Hungary has gone the other way, leveraging its ties to Moscow for economic gain. It carved out exemptions from under EU sanctions on Russian oil and doubled down on natural gas purchases from Russia. Hungary is also pressing on with the Russia-led expansion of its sole nuclear power plant.

Lower LNG demand from China is also providing near-term relief for European buyers competing for shipments. The Asian country’s purchases are forecast to fall this year for the first time since 2022,

There have also been reports that Nord Stream 2 could be taken under new ownership with a view to allowing Russian gas to flow via the undamaged string of the link.

OIL Markets have been experiencing dehorning by the bears with the benchmark BRENT trading at $69.45/bbl and WTI Crude trading at $66.12/bbl. We have seen a short squeeze on Natural Gas to $4.34/mmBtu pricing as plays within the COTs Reports have had sluggish skewness pushing prices higher currently at $4.50/mmBtu.Tread cautiously as this is thin ice.

While pipeline gas supplies from Russia cover less than 5% of Europe’s fuel needs after most major routes have been closed since 2022, the nation remains the second largest supplier of LNG to the EU. Purchases hit a record last year, with Spain, France and Belgium being the biggest buyers.