LAST UPDATE: 12.56 European natural gas erased earlier losses and is now moving higher, extending its rally, as a warm summer boosts demand while supplies from Russia remain tight, according to Bloomberg. Concerns in the energy market are intensifying as extremely hot and dry weather increases consumption of natural gas for cooling. Meanwhile, the Rhine […]
Tag: natural gas
Oil and gas standby
LAST UPDATE: 12.56 Both oil and natural gas are moving marginally, with investors showing a rather wait-and-see attitude today. In particular, the European physical is around unchanged with small fluctuations compared to the measure that has been moving lately. Specifically, the September contract trades in Amsterdam (TTF) at 229 euros the megawatt hour with little […]
If Russia cuts off natural gas, Germany will have less than 3 months supply
Germany’s natural gas reserves may be filling up faster than normal, but the country will continue to fight to have enough fuel to get through the coming winter, Bloomberg reports. Even if natural gas reserves can meet Germany’s target of 95% storage capacity by November, this would only cover about 2-1/2 months of heating, industrial […]
USA: Natural gas futures at a 14-year high
U.S. natural gas futures jumped nearly 7% on Tuesday to a 14-year high following a price rally in Europe and while analysts expect demand to remain strong due to hot weather in the country. Specifically, natural gas futures gained 60.1 cents, or 6.9%, to $9.329 per million British thermal units. This is the highest level […]
Spain: Sanchez wants a natural gas pipeline to connect Iberia with Central Europe
Spanish Prime Minister Pedro Sanchez today backed the construction of a pipeline linking the Iberian Peninsula to central Europe via France that could help reduce the region’s dependence on Russian gas. The construction of a pipeline that would pass through the Pyrenees “is something that the Spanish government has been asking for from Europe for […]
Russia’s LNG program in the Arctic has become dependent on Turkey
The unprecedented industrialization of the Arctic that has unfolded in recent years along the shores of Russia’s remote Gulf of Ob is facing serious problems that are an extension of Russia’s war against Ukraine and the subsequent imposition of Western sanctions. Novatek’s major liquefied natural gas projects in the region are heavily dependent on Western […]
Germany: ‘Extortion’ of hundreds of euros for natural gas
An additional burden, in addition to the already increased bills, is caused for households in Germany by the “special tax for natural gas”, which is imposed in October. The “special fee” is set at 2.4 euros per kilowatt-hour and essentially passes on to consumption the increased cost of companies forced to import natural gas from […]
Netherlands: Soon the decision to fill the tanks f.a. more than 80%
The Dutch government is expected to decide within the month whether to further fill the country’s largest natural gas storage facility, officials said on Tuesday, Reuters reports. All Dutch natural gas storage facilities are currently around 70% full on average, as part of the drive to meet the European Union’s target of 80% full by […]
Norway to Germany: ‘We have no more gas to give you’
Solz returns to Berlin with a polite Norwegian “no” to more natural gas. Accelerating Sweden’s accession to NATO – message from Stockholm to Ankara. The two-day visit of Chancellor Olaf Solz to Sweden and Norway ended with a heavy agenda, albeit in the middle of August, and the main issues being energy security in Europe, […]
Gazprom warns of natural gas close to 400 euros per megawatt hour
Russian state-owned Gazprom said today that winter gas prices could jump by as much as 60% to 400 euros a megawatt hour as its exports and production continue to fall due to what it says are Western sanctions. “European natural gas prices have reached $2,500 per 1,000 cubic meters (€240/MWh). According to conservative estimates, if […]
