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.

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.

Under the teaming agreement - signed in Seoul on 1 April - the cooperation between Fermi Energia and Samsung C&T will focus on key aspects of the project, including the formation of an Engineering, Procurement, and Construction (EPC) partnership, site constructability review, cost estimation, and financing strategies.

Gazprom began supplying gas to Slovakia again at the beginning of February, using volumes given up by Hungary on the TurkStream pipeline, SPP said last month. Volumes were due to double from April, but no amounts were given.

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.

According to Iran’s oil ministry, Qatar has already implemented pressure enhancement schemes, boosting production on Qatar’s side of the field (called North Dome).

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.

Основной темой встречи стало сотрудничество в нефтяной, газовой, угольной, электроэнергетической и атомной отраслях. Было отмечено, что взаимодействие в энергетической сфере является стратегическим направлением сотрудничества между Россией и Турцией.

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.

Last year, Ukraine received 724 million cubic meters of gas from abroad, according to estimates from ExPro Consulting in Kyiv. About a third of that was later re-exported to western neighbors, which used the nation’s storage sites.

While Europe has managed to diversify its supplies since the energy crisis three years ago, this heating season has served as a reminder of the region’s vulnerability, especially given its growing reliance on volatile LNG flows.

While Europe has managed to diversify its energy supplies since the 2022 crisis — making a phaseout of Russia’s fuel potentially less challenging — this winter has served as a reminder that the region remains vulnerable.

Europe was not yet out of an energy crisis that began with Russia's invasion of Ukraine in 2022.

Gazprom, opens new tab said it would send 42.4 million cubic metres of gas to Europe via Ukraine on Thursday, the same volume it has shipped each day since Nov. 12.