Prices for Europe GAS slightly lower due to healthy Norwegian and LNG supplies
The prices of Dutch and British natural gas were lower Tuesday morning due to warm temperatures, a strong supply coming from Norway and LNG. Market players continue to monitor developments regarding tariffs and the talks to end Ukraine's war. LSEG data shows that the benchmark Dutch front-month contract fell by 0.17 euros to 34.50 Euro per megawatt hour or $11.31/mmBtu at 0758 GMT.
As wind power declines, prompt prices are rising sharply
The strong anticipated loss in wind power supply has boosted European spot electricity prices on Tuesday. This overrides the effects of weaker demand before holidays later this week. LSEG's research showed that Germany would rely on imports in the near future and that thermal production was not changing much.
EU to publish plan in May to stop Russian gas and oil imports
After twice postponing the plan, the European Commission announced on Monday that it will unveil a more comprehensive strategy for phasing out Russian gas and oil imports in January. In response to Moscow's invasion of Ukraine in 2022, the EU has committed to stop using Russian fossil fuels before 2027. However…
Sources say that EU countries are seeking extra flexibility in their gas storage targets
EU diplomats have revealed that the EU is considering rules which would allow countries to deviate from the requirement of 90% gas filling before winter by ten percentage points. In 2022, the EU introduced its gas storage regulations to provide EU countries with a buffer during the winter months after Russia stopped supplying fuel following its invasion in Ukraine.
Lithuanian official: EU could aggregate the demand for US gas in trade negotiations
As part of the negotiations with President Donald Trump, Lithuania's Energy Minister said on Tuesday that the European Union might consider aggregating their member countries' demands to buy U.S. Liquefied Natural Gas in an effort to avoid a trade conflict. Maros SEFCIOVIC, EU Trade Commissioner, said that LNG…
Italy pays gas incentive for meeting 90% storage target
Gas grid operator Snam announced that Italy will introduce an incentive program at the beginning of this month in order to encourage companies to inject gas into storage following the end of the winter season when its sites were only 42% full. The European Commission set an ambitious target of 90% filling Europe's…
EU Chief: EU to counter new US tariffs
The European Commission's Ursula von der Leyen said that Donald Trump's tariffs on all goods and services were a serious blow to the global economy. She also stated that the European Union would be prepared to take countermeasures in the event of a failure to reach an agreement with Washington. Von der Leyen…
Jain and Boersma: US LNG exporters may run into a methane problem in Europe
New methane regulations may be a hindrance to the Trump administration's goal of "energy dominance", which is the United States' largest export market. The EU's President Ursula von der Leyen indicated that they may be willing import more U.S. LNG, in part to lower the EU's trade deficit. However, the process of making this happen can become complicated.
Sources say that EU is targeting energy laws to reduce red tape.
Sources familiar with the matter said that the European Commission is examining changes to EU energy law as part of its next set of proposals to reduce the regulatory burden on struggling industries. Brussels has started a campaign to eliminate layers of bureaucracy, which European businesses claim puts them…
Sources say that EU is targeting energy laws to reduce red tape.
Sources familiar with the matter said that the European Commission is considering changes in EU energy laws to reduce the regulatory burden on struggling industries as part of its next set of proposals. Brussels has started a campaign to eliminate layers of bureaucracy, which European businesses claim puts them…
Energy assets affected due to sanctions and standoff between Russia and the West
On Tuesday, the United States and Russia reached separate agreements to stop attacks on energy and maritime targets. Washington also agreed to press for the lifting of some sanctions against Moscow. In the event that a peace agreement is reached between Russia and Ukraine, the potential for a relaxation of U.S.
The EU Commission has told Spain that it will not pay in a long-running case of renewable subsidies
The European Commission gave Spain a win on Monday when it told the country that they would not be paying any compensation for claims in the billions of Euros for renewable energy subsidies cut over a decade earlier. After the conservative government of Spain cut renewables subsidies to reduce an artificially low power tariff deficit that had been built up over years…
Draft shows EU members are seeking flexibility in the 90% rule for gas storage.
A document reviewed by revealed that the European Union is discussing a proposal which would allow it to diverge from its target of filling natural gas storage up to 90% before winter if market conditions made this prohibitively costly. This month, the European Commission proposed to extend EU deadlines for filling gas storage by two years. The new dates are 2026 and 2027.
Document reveals EU countries' draft plan to relax gas storage targets
A document seen by revealed that European Union nations are considering making the bloc’s binding gas storage targets more flexible. They do this because they fear the rules could lead to an increase in gas prices. Germany, France, and the Netherlands warned that the EU's deadlines for filling gas storage were pushing prices up.
Sources say that most EU countries support softer storage targets for gas
In a meeting held behind closed doors on Wednesday, a majority of European Union member countries supported plans to relax some of the bloc’s binding gas storage targets when they were extended until 2026-2027. EU diplomats confirmed this. Germany, France, and the Netherlands warned that the EU's deadlines for filling gas storage were pushing prices up.
Ministers and executives say that if sanctions are eased, Europe will avoid Russian energy.
Ministers and executives at a Houston conference said that European buyers will not return to Russia's Energy Sector if the sanctions are lifted. The bloc has diversified its power mix by using renewable energy and alternative suppliers of gas. According to a joint U.S. and Ukrainian statement released on Tuesday, Ukraine agreed to accept the U.S.
EU seeking feedback on looser rules for state aid to encourage clean tech projects
The European Union's state aid regulators want to hear from its member countries about new rules that will allow governments to provide grants and other financial incentives to businesses and clean technology projects to reduce carbon footprint. These rules are intended to help EU businesses compete better with their U.S. or Chinese competitors.
Prices of EUROPE GAS are rising amid higher demand and lower Norway exports.
Dutch and British wholesale prices of gas rose on Tuesday morning due to lower Norwegian exports into Europe and increased demand. The benchmark front-month contracts at the Dutch TTF Hub were up 0.64 euros at 41.68 Euro per Megawatt Hour (MWh) at 0932 GMT, LSEG Data showed. The contract for the month of May increased by 1,15 euros to 41,66 euros/MWh.
German contracts untraded
French spot power fell on Thursday as the weather warmed up and demand decreased. German spot power, however, was traded at a premium to France due to lower green energy production. LSEG analyst RiccardoParviero stated that the expected losses in German Wind Power Generation remained a positive factor for the area…
Prices for gas in Europe fall as storage targets are extended and temperatures rise
The Dutch wholesale gas price fell on Wednesday afternnon amid warmer temperatures. In addition, the European Commission announced a two-year extension to winter storage targets. However, it signaled flexibility regarding interim targets. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was down 2,15 euros at 41.15 Euros per megawatt hour at 1648 GMT.
