RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2022-11-30 11:45:00

EUROPEAN GAS PRICES UP ANEW

EUROPEAN GAS PRICES UP ANEW

BLOOMBERG - Nov 29, 2022 - European natural gas prices settled at their highest level in six weeks, with unusually frigid weather expected to start eroding gas inventories and outages occurring at a few key facilities on Tuesday.

The freeze will be the region’s first real test of its resiliency amid the energy crisis this season, as mild temperatures so far have curbed demand for heating. With Russia cutting most of its gas supplies to Europe in the fallout over Moscow’s war in Ukraine, the continent is set to delve further into its stockpiles that it has spent months accumulating.

“The market has woken up from its slumber, with large gains made currently,” analysts at DB Group Europe said in a note. “Latest weather forecasts show temperatures starting to drop below seasonal normal across parts of Northern Europe next week and gas inventories are expected to start declining.”

Storage sites are still about 94% full on average, according to Gas Infrastructure Europe, due to the recent weather and a massive effort to import liquefied natural gas. Before the war began in February upended supplies, Russian state-controlled company Gazprom PJSC supplied about a third of all gas consumed in Europe.

Process issues at the Troll field in Norway and the UK’s Barrow North terminal on Tuesday also helped to buoy prices. The Karsto processing plant in Norway is set to start maintenance on Wednesday.

Meanwhile, European Union countries remain polarized on the issue of a natural gas price cap before an emergency meeting of energy ministers later this month, according to EU energy commissioner Kadri Simson.

The cap isn’t meant to be an instrument to “structurally lower our gas prices to pre-war levels,” Simson told lawmakers at the parliament’s industry committee. That will only be achieved when the region lowers its gas demand, she said.

Dutch front-month futures, the European benchmark, settled up 7.3% at €132.29 per megawatt-hour, the highest since Oct. 14. The UK equivalent contract also jumped.

-----


Earlier:

EUROPEAN GAS PRICES UP ANEW
2022, November, 28, 10:15:00
EUROPEAN GAS PRICE CAP
The 27 EU member states are trying to hammer out an agreement that can be implemented by the end of the year. The commission on Tuesday proposed to limit the price of the upcoming contract on the TTF market. TTF accounts for around four-fifths of gas trading in the bloc.
EUROPEAN GAS PRICES UP ANEW
2022, November, 25, 10:50:00
EUROPEAN ENERGY PACKAGE
Failure to reach a deal would send a signal that the EU’s united response to the war-driven energy crisis is falling apart -- a political gift for Moscow that Europe is keen to avoid.
EUROPEAN GAS PRICES UP ANEW
2022, November, 23, 10:35:00
EUROPEAN GAS STABILIZATION
Exceptionally mild weather across Northwest Europe since October has led to a sharp drop in gas prices from record levels over the summer.
EUROPEAN GAS PRICES UP ANEW
2022, November, 18, 11:20:00
EUROPEAN GAS PRICES UPDOWN
Meanwhile, the European Union is continuing talks about ways to limit spikes in gas prices ahead of a meeting of energy ministers next week.
EUROPEAN GAS PRICES UP ANEW
2022, November, 16, 11:00:00
EUROPEAN GAS PRICES UP
Benchmark gas futures settled 9.2% higher, following an increase of 16% on Monday. Freeport LNG in Texas will likely extend an outage that began in June, increasing global competition for much-needed supplies right before the winter.
EUROPEAN GAS PRICES UP ANEW
2022, November, 7, 11:55:00
EUROPEAN GAS PRICES FALL ANEW
Risks over existing gas supplies from Russia will continue through the coming months, with just one pipeline route open to the biggest European customers.
EUROPEAN GAS PRICES UP ANEW
2022, November, 3, 12:20:00
EUROPEAN ENERGY TRANSFORMATION
Currently, the most expensive form of generation -- gas -- sets the price for all electricity that’s sold into the market. That means consumers are bearing the brunt of Russia’s supply cuts to the continent. It also means Europe isn’t feeling much of the benefit of low-cost renewables like wind farms, which get to sell at big margins.
All Publications »
Tags: EUROPE, GAS, PRICE, RUSSIA, SANCTIONS
Chronicle:
EUROPEAN GAS PRICES UP ANEW
2023, February, 3, 11:29:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
EUROPEAN GAS PRICES UP ANEW
2023, February, 3, 11:28:00
TRANSPORTATION OIL AND GAS CONGRESS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
EUROPEAN GAS PRICES UP ANEW
2023, February, 3, 11:25:00
ЦЕНА URALS: $49.48
Средняя цена на нефть марки Urals в январе 2023 года сложилась в размере $49,48 за баррель, что в 1,7 раз ниже, чем в январе 2022 года ($85,64 за баррель).
EUROPEAN GAS PRICES UP ANEW
2023, February, 3, 11:20:00
RUSSIAN GAS TO EUROPE DOWN AGAIN
Total Russian pipeline exports to Europe in January via the two remaining major supply routes were 36% down on deliveries in December and 79% lower year on year.
EUROPEAN GAS PRICES UP ANEW
2023, February, 3, 11:15:00
BP: THE TRANSITION TO A LOW-CARBON WORLD
The transition to a low-carbon world requires a range of other energy sources and technologies, including low-carbon hydrogen, modern bioenergy, and carbon capture, use and storage.
EUROPEAN GAS PRICES UP ANEW
2023, February, 3, 11:10:00
GERMAN WIND ENERGY 7 GW
Germany targets 30 GW of offshore wind by 2030. The country had 7.7 GW of offshore wind installed capacity at the end of 2021.
EUROPEAN GAS PRICES UP ANEW
2023, February, 3, 11:05:00
INDIA GREEN TRANSITION $8 BLN
India plans to spend US$4.3bn on energy transition through the Ministry of Petroleum and Gas, including programs for green fuel, green energy, green farming, green mobility, green buildings, and green equipment and policies for efficient use of energy across various economic sectors.
All Publications »