Trump's complaint about the trade deficit with EU and what could come next
Donald Trump, President of the United StatesTrump has pledged to reduce a long-standing trade deficit between the United States and the European Union. He says he will do this by imposing tariffs, or forcing the EU to buy more U.S. gas and oil. In a memo entitled "America First Trade Policy", issued by Trump on his first day in the White House…
Sources say that Austria's OMV Romanian unit has agreed to supply gas to Germany
Three people with knowledge of the situation have confirmed that Austria's OMV Romanian has signed a contract to supply Germany's Uniper gas from its Black Sea Project from 2027. This is as Europe looks for new ways to increase energy security following its breakup with Russia. The deal, which was not disclosed before…
Sources: Austria's OMV has agreed to supply Romanian Gas to Germany
Three people with knowledge of the deal said that Austria's OMV will supply Germany's Uniper gas from its Black Sea Project from 2027. This comes as Europe looks for new ways to increase energy security following the breakup with Russia. The deal, which was not disclosed before, is for a five-year supply of 15 terawatts of natural gas to be delivered by the Neptun Deep Project.
The industry in the breakaway Moldovan region shuts down due to lack of Russian gas
An official confirmed on Thursday that the cutoff of Russian gas supply to Moldova's Transdniestria region, which is a breakaway region of Moldova, has forced all industrial companies - except for food producers - to close. The Russian gas cutoff to Central and Eastern Europe through Ukraine on Wednesday has caused a severe and immediate impact on the mainly Russian-speaking region of 450…
Austria Energy Regulator expects smooth transition when Ukraine gas deal ends
Austrian energy regulator E-Control says that it should not experience any disruption in supply as it is preparing to switch from eastern natural gas supplies to western alternatives following the expiration of Ukraine's Gazprom contract on Tuesday. Ukraine announced that it would terminate its gas transit agreement with Gazprom.
EUROPE GAS - Prices rise due to colder weather forecast and transit concerns in Ukraine
Dutch and British wholesale prices for gas rose on Friday, boosted by cold weather forecasts in January and the fading hope of a new agreement to transit Russian gas via Ukraine. By 0914 GMT, the benchmark front-month contract for the Dutch TTF hub had increased by 1.27 euros to 46.80 euros/megawatt hour or $14.36/mmBtu.
Prices of EUROPE Gases rise slightly as trading is thin ahead of holidays
The Dutch and British wholesale prices of gas were slightly higher on Wednesday, in light trading ahead Christmas holidays throughout Europe. This is because there remains uncertainty over Russian gas supplies when the Ukraine Gas Transit Deal expires this year. The benchmark contract for the Dutch TTF hub, the front-month contract…
Germany waives gas storage fees outside of the country starting Jan. 1, 2025
The German lower house of Parliament passed on Friday a change in energy law that will waive the domestic market storage fee at border points and virtual trading centers, effective Jan. 1, 2025. This will free foreign consumers from a costly element of price. Parliament approved the law change based on its incompatibility…
Putin is clear: there will be no Ukraine Gas Transit Deal
Vladimir Putin, President of Russia, said that it is now clear that no new gas transit agreement will be signed with Kyiv for Russian gas to be sent through Ukraine to Europe. However, Russia will survive. As the EU attempts to reduce its dependency on Moscow, Russia has lost nearly all its European clients. Before the Ukraine War, Russia was Europe's largest single natural gas supplier.
Prices for European gas rise as renewed Russian focus on gas is renewed
The Dutch and British wholesale gas price rose on Tuesday afternoon due to renewed concerns about Russian gas supplies to Europe starting in January. By 1505 GMT the benchmark front-month contract for the Dutch TTF hub had risen 1.87 euros to 41.83 euros/MWh, or $12.87/mmbtu. This was a continuation of the gains made in the morning.
Nuclear roadblock to EU's new renewable energy target
On Monday, pro-nuclear countries expressed their opposition to the European Union's plans for a renewable energy goal. They said they would not support a goal which excluded atomic energy. Nuclear power is a controversial energy source that has caused political disagreements among the 27 EU member states. These disputes…
Austrian legal expert believes OMV can end gas contracts with Gazprom
Austrian energy company OMV can legally cancel a contract with Russia's Gazprom that lasts until 2040, according to an Austrian lawyer who was given access the contracts on Wednesday. OMV had been one of the last European buyers of Russian gas after Russia invaded Ukraine on a full scale in 2022. But, on Nov. 16, Gazprom stopped supplies to OMV due to a contract dispute.
Sources: Austria's 50-year relationship with Gazprom is ended by the gas seizure
Five sources said that the Austrian group's seizure and payment of Russian gas to cover an arbitration award was what triggered the end of more than 50 years gas flow from Russian state energy company Gazprom to OMV this month. OMV is one of the last remaining gas buyers in Europe, after Gazprom lost most of its European customers in the aftermath of the Russian invasion of Ukraine.
Prices fluctuate in Europe due to colder weather forecasts despite constant Russia flows
Dutch and British wholesale gas prices fluctuated Monday morning due to colder weather forecasts, a decrease in Norwegian supplies and stable Russian gas flows through Ukraine. However, more LNG cargoes were heading towards Europe. LSEG data shows that the benchmark front-month contract traded at the Dutch TTF Hub at 45.90 Euro per megawatt hour at 1007 GMT…
Prices for EUROPE GAS are near their highest levels in a year due to supply concerns and storage drawbacks
Dutch and British wholesale gas prices were roughly flat on Friday, near their one-year-highs. Profit-taking was offset with ongoing concerns about Russian supply as well as cold weather reducing gas stocks. LSEG data show that the benchmark contract for the first month at TTF's Dutch hub fell by 0.60 euro to 45.75 Euros per Megawatt Hour by 0930 GMT.
German wind production falls, resulting in higher spot prices
The European immediate power prices increased on Thursday as the German wind power forecast is for a fall. LSEG data show that the German baseload electricity for Friday rose 6% to 109.40 Euros ($118.17 per megawatt-hour (MWh). The French equivalent contract rose 1.1% to 69 euro/MWh. LSEG data indicated that the German…
EU Energy Ministers Discuss Ukraine Energy Crisis and Russian LNG
Officials said that EU energy ministers met on Tuesday in Luxembourg to discuss the rising Russian LNG imports and Ukraine's energy shortages before winter, as well as how to balance energy costs across member states. In June, the EU approved a 14th set of sanctions including a ban of transhipments of Russian Gas as of March of next year. However, it did not impose a complete ban.
Document shows EU countries want more transparency about Russian gas imports
In a letter to the European Commission on Monday, a group of EU member states including France and the Baltic States asked for tighter reporting requirements across the EU on Russian LNG imports. In June, the EU approved a 14th set of sanctions that included a prohibition on the trans-shipment of Russian LNG in its ports.
Minister: German natgas supplies secure without Ukraine transit
The German Economy Ministry said on Tuesday that Germany's and neighbouring countries' natural gas supplies are safe even if the transit through Ukraine was cut off. The ministry stated that Germany's terminals for liquefied gas (LNG), even those without access to the coast, are an insurance against a natural gas shortage, including in countries outside of Europe.
Austrian election puts Russian gas habits and a sputtering economic in focus
After the general elections on Sunday, the government in Austria that comes to power will be under increasing pressure to diversify their energy supply and move away from dependence upon Russian gas. This is happening at a time when Austria's economy is in reverse. A majority is not expected from any party. Opinion polls show that the far-right Freedom Party (FPO)…
