Grid operators claim that the UK's winter energy is secure, despite lower gas margins.
In their winter outlooks, the electricity and gas grid operators in Britain expect that there will be enough energy this winter despite tighter margins for gas due to declining production at home. National Gas and Britain's National Energy System Operator publish annual reports on the supply and demand of gas and electricity for the coming winter in order to assist businesses and governments prepare.
Court rules that Biden's ban on offshore drilling is illegal
Former U.S. A federal judge in Louisiana found that the president had exceeded his authority when he withdrawn large areas of U.S. coasts from offshore oil and natural gas development. U.S. District judge James Cain, in Lake Charles in Louisiana, sided against Republican states and groups from the oil and gas industries who sued to stop Biden's plan to protect federal waters along the East and West Coasts…
BP and Total Deepen Commitments to US with Major Projects
BP and TotalEnergies, two European oil and natural gas companies, deepened their commitments towards the United States on Monday. BP approved a $5 billion offshore field for oil production and TotalEnergies bought into a gas field onshore. The goal of U.S. president Donald Trump to capitalize on hydrocarbon resources in the United States is aligned with increased investment in U.S. production of oil and gas.
EUROPE GAS-European Gas Prices Firm as Weather and LNG Strikes Offset Rising Norwegian Supply
The Dutch and British gas price rose slightly on Friday, but they remain within the recent range. This is because the end of maintenance season in Norway has increased supply while strikes in France have curtailed LNG deliveries. LSEG data shows that the benchmark Dutch front-month contract was 32.70 euros per Megawatt Hour (MWh) or $11.20/mmBtu at 0844 GMT. This is an increase of 0.30 euros.
Oilfield executives sour in Dallas Fed survey
According to a Federal Reserve Bank of Dallas survey published on Wednesday, oil and gas production in Texas, Louisiana, and New Mexico, the three states that produce the most, declined in the third-quarter as executives expressed a more negative outlook. The decline in oil and gas activity is due to the uncertainty surrounding oil prices…
US Judge rules Trump can't block Rhode Island offshore Wind Project
A federal judge ruled that the Danish offshore wind developer Orsted could restart the work on the almost finished Revolution Wind project, off the coasts of Rhode Island. The project was halted by President Donald Trump’s administration last month. Trump's efforts to stop offshore wind expansion in U.S. waterways have been hampered by the ruling.
Italy to Help Sardinia Phase Out Coal with New LNG Plants
Italy plans to send two new units for the regasification of liquefied natural gas (LNG) to Sardinia to help the island phase out coal, a government decree seen by Reuters showed.Sardinia currently relies on two coal-fired power plants for its electricity needs and is slowly developing renewable energy capacity.The government has mandated Italy's gas grid operator Snam to set up a new floating storage and regasification un
Prices for EUROPE GAS are on the decline due to increased wind and LNG supplies
Dutch and British wholesale prices of gas fell on Friday morning, as a higher wind output is expected to begin Monday. Also, the supply of liquefied gas (LNG), was also increasing. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell by 0.33 euros to 32.05 Euro per megawatt hour at 0815 GMT. The contract for November was lower by 0.23 euros at 32.94 euro/MWh.
EU Targets Power Grid Bottlenecks to Lower Prices, Improve Security
The European Union will prioritise fixing eight power grid bottlenecks, the Commission President said on Wednesday, in an effort to lower the bloc's uncompetitive energy prices and improve energy security."I am presenting today a new initiative called Energy Highways. We have identified eight critical bottlenecks in our energy infrastructure.
Workers Strike at Fluxys Dunkirk LNG terminal
Workers began a three-day strike over pay at Belgian gas terminal operator Fluxys' Dunkirk liquefied natural gas terminal late on Monday evening, part of a broader action in the power and gas sector focused on pensions and wages.The Dunkirk LNG terminal is the second largest in continental Europe and the only terminal directly connected to…
Prices for Europe GAS are mixed due to stronger winds and lower Norwegian flows
The Dutch and British wholesale gas price were mixed Tuesday morning, due to higher wind production and lower Norwegian supply. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub at 0831 GMT was up 0.59 euro at 32.25 Euro per megawatt hour. The contract for the day-ahead has dropped by 0.05 euros to 31.75 Euro/MWh.
EUROPE GAS-Prices Firm on Technical Support, Lower Wind
Dutch and British wholesale prices of gas rose on Monday morning due to technical trading and lower renewable energy output. LSEG data revealed that the benchmark Dutch front-month contracts - now for October – at the TTF hub were up 0.34 Euros at 32.00 Euros per megawatt-hour (MWh) or $11.00/mmBtu by 0842 GMT. The contract for November increased by 0.66 euros to 33.08 euro/MWh.
Norway prepares its first major licensing round for oil and gas in years
Norway's Energy Minister said Friday that he was preparing to launch a round of oil and gas licenses on the Norwegian continental shelf. This will be the first new offer of drilling permits for frontier areas which have not been explored since 2021. In a statement, Labour Party Minister Terje Aasland said that Norway will be a reliable supplier of oil to Europe for a long time.
Greece invites Libya for maritime zone talks in order to improve strained relations
KyriakosMitsotakis, the Greek Prime Minister, said late Wednesday that Greece had invited Libya's internationally recognized government in Tripoli for talks to begin on delineating exclusive economic zones on the Mediterranean Sea. The move aims to repair the strained relations between the two neighbors, caused by the controversial maritime agreement signed in 2019 between Libya's government and Turkey…
Europe looks to Nordic Space Race to reduce US dependence
Two small spaceports located in the far north of Sweden, Norway and Finland are rushing to launch the very first satellites launched from Europe. The region is looking to reduce its dependence on U.S. companies. The "America First" policies of U.S. president Donald Trump and the conflict in Ukraine has prompted Europe's independent capabilities to be boosted in many areas…
Engie buys DNO's Norwegian gas production for four years
The Norwegian company DNO announced on Wednesday that it had sold all of its gas production from the Norwegian continental shelf over a period of four years to French utility Engie at an undisclosed price. The deal was facilitated by an American bank loan, as U.S. banks are increasing funding for the fossil fuel sector. It also said that it…
Engie buys DNO's Norwegian gas production for four years
DNO sold all of its gas production from the Norwegian continental shelf over a period of four years to French utility Engie, for an undisclosed amount. It said that a U.S. loan facilitated the deal, as U.S. banks increase funding for the fossil fuel sector. The company also stated that it is in talks over a similar agreement of offtake and financing facility related to its North Sea oil production.
Equinor and partners approve $1.3 Billion Johan Sverdrup Oilfield Expansion
Equinor, a Norwegian oil company, and its partners approved an investment of 13 billion Norwegian crowns ($1.29 billion), for the expansion at Johan Sverdrup. This is the largest oilfield in western Europe. Equinor's partner Aker BP and Equinor said separately that the project will increase recoverable volume from the field between 40 and 50 millions barrels of oil-equivalent.
Prices continue to decline due to a healthy supply and ceasefire
The Dutch and British wholesale prices of gas continued to drop on Thursday morning due to an ample supply and weak demand, as well as the apparent holding of a ceasefire agreement between Israel and Iran. The benchmark Dutch front month contract at TTF hub was down 0.73 euros to 34.65 Euros per Megawatt Hour (MWh) at 0857 GMT. Meanwhile, the August contract is 0.77 euros lower at 35.13 Euros/MWh.
Japan protests new Chinese structures in East China Sea
The Japanese Foreign Ministry said that China had begun building a new structure between China and Japan, in the disputed East China Sea. It also added that it had lodged a formal protest with China. In a press release, the ministry stated that "it is regrettable" for China to continue with its unilateral development while the exclusive economic zones and continental shelf of the East China Sea are still not defined.