Orban: Hungary is in talks with Ukraine about Russian gas deliveries via Hungary
Viktor Orban, the Prime Minister of Hungary, said that Hungary was in talks with Russia, Ukraine and other countries to keep open gas deliveries via Ukraine, even though it imports Russian gas via Turkstream. The pipeline via Ukraine is one of the main Russian gas routes into Europe. However, it will close at the end this year because Kyiv doesn't want to extend the five-year transit deal that brings gas to Slovakia and the Czech Republic. Orban said in a press briefing: "We're now trying to pull off the trick...
Germany's Wilhelmshaven Terminal offers May LNG Capacity
Deutsche Energy Terminal (DET) said on Thursday that Germany's Wilhelmshaven liquefied natural gas terminal intends to market capacity for ships to discharge LNG in May 2025, adding that there would be limited slots available in the first quarter there and at another location.DET has been commissioned by Berlin since the height of Europe's energy crisis in 2022 to market regasification of gas volumes arriving on LNG tankers, as well as related storage and gas deliveries…
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. Russia was Europe’s largest natural gas supplier before the war. OMV announced on Nov.
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, after fluctuating between losses and gains in the morning. After Austria's OMV informed Russia's Gazprom that it would stop its gas deliveries, the price of gas in Austria hit 47.15 Euros/MWh intraday on Friday.
Front-year contracts are boosted by rising gas and carbon prices
The European power contracts for the year ahead were released on Thursday. They reflect higher carbon permits as well as gas contracts. The German power contract for the year ahead was up 3.1% to 94.25 Euros ($99.09), after hitting a high of 94.50 Euros earlier. Meanwhile, the French baseload contract for 2025 rose 3%, reaching 77.25 EUR/MWh. The European CO2 allowances in December 2024 increased by 2.7%, to 68.08 Euros per metric ton. Energi Danmark's daily report stated that the German market has recovered due to new concerns regarding Russian gas deliveries.
Gas and Carbon Forward Contracts are on the Rise
The European power contracts for the year ahead rose on Friday as did gas and carbon contracts. LSEG data show that the German 2025 baseload price rose by 1.1% at 1041 GMT to 91.45 Euros ($98.99) for a megawatt-hour. Earlier, the price had been.05 euros short of the highest recorded in a month and a quarter on Thursday. The equivalent French position increased 0.2% to 75.35 Euro/MWh. The European CO2 allowances expiring in December 2024 rose by 0.1%, to 66.65 Euros per metric ton.
Gas prices in Europe are correct after a 3-week high
Dutch and British wholesale prices of gas fell on Thursday amid forecasts for more wind energy generation. This was a correction from the three-week high that they had reached earlier in the day due to supply concerns. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub fell 0.72 euros to 36.86 Euro per megawatt hour at 0952 GMT. According to LSEG data, on Wednesday the contract reached its highest level since September 3 at 38.15 Euro/MWh. The front-month contract in the British market was 2.21 pence less at 88.70 p/therm.
After a 1-month low, the price of gas in Europe has seen a small increase.
The Dutch and British wholesale prices of gas traded slightly higher on Thursday morning, after having hit a one-month low the day before. This was due to full storages as well as a rising supply of liquefied gas (LNG), which offset fewer pipeline gas deliveries from Norway or Algeria. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub rose by 0.60 euros to 36.25 Euro per megawatt hour or $11.78/mmBtu at 0838 GMT. The contract dropped to 35.65 Euros/MWh on Wednesday, its lowest level since August 5.
Soaring Gas Prices Power Equinor Q2 Profits
Equinor said it will return an additional $3 billion to shareholders after reporting better-than-expected second-quarter profit on the back of soaring gas prices fuelled by the war in Ukraine. The company boosted gas supplies to Europe by 18% in the April-June period compared to a year ago, making Norway the continent's largest supplier of piped natural gas as Russia cut deliveries amid a standoff with the West over the war."Equinor has become Europe's most important supplier of energy during this conflict…
Gas Prices Soar in Europe on Tight Russian Supply
European gas prices soared more than 30% on Tuesday as low supplies from Russia reignited concerns about an energy crunch as the region heads for colder weather.A key pipeline which normally delivers gas from Siberia to Europe continued to work in reverse on Tuesday, traders said, sending flows from Germany to Poland, while supplies of Russian gas from Ukraine to Slovakia were also subdued.Russian energy exports have been in the spotlight amid the country's broader standoff with the West…
Osaka Gas Looks to Sell Spare LNG in Europe
Japan's Osaka Gas has offered two liquefied natural gas (LNG) cargoes from the newly-commissioned Freeport LNG project in the United States for delivery into Europe, industry sources said.Mild weather in Japan and a weaker Chinese economy have helped to drag the global LNG market to multi-year lows and forced Asian sellers to seek alternative markets.Osaka Gas has offered the cargoes for delivery into Europe between July 5 and 13 and Nov. 9 and 17, said three of the sources…
Feed Gas Introduced at Cameron LNG
Cameron LNG has begun pipeline feed gas flow to the first liquefaction train of the liquefaction-export project as it prepares to begin production of liquefied natural gas (LNG) at the facility in Hackberry, La., according to partners involved in the project. This is the final commissioning step for Train 1 of Cameron LNG Phase 1."We expect to start producing LNG this quarter," said Lisa Glatch, chief operating officer of Sempra LNG and board chair for Cameron LNG.Cameron LNG is jointly owned by affiliates of Sempra LNG LLC, Total, Mitsui & Co. Ltd.
Equinor Eyes More Russian Gas to Europe
Russian gas deliveries to northwest Europe will likely continue to grow in the time ahead, Norwegian oil and gas producer Equinor told an investor conference on Tuesday.In the third quarter, Russian deliveries to the region expanded to 59 billion cubic meters from 50 bcm in the same period of 2017, the company added.(Reporting by Lefteris Karagiannopoulos, editing by Terje Solsvik)
Gazprom to increase gas deliveries to Austria
Russian energy producer Gazprom will deliver more gas to its Austrian partner OMV, the two companies said on Monday.Deliveries to Austria will be increased by 1 billion cubic meters per year, they added."The signing of a document on additional exports beyond the contractual amounts serves as yet another proof of the high demand for Russian gas on the part of our European consumers," Gazprom CEO Alexei Miller was quoted as saying in the statement.(Reporting by Thomas Seythal, editing by Tassilo Hummel)
Gazprom CEO Says Output Up This Year
Gazprom's output in the last nine and a half months is up by 6.8 percent year on year and the Russian gas producer expects production close to 500 billion cubic metres (bcm) this year, RIA news agency cited its chief executive as saying.The TASS news agency, also citing Gazprom CEO Alexei Miller, said the company had increased gas deliveries to non-CIS countries by 8 bcm in the past nine and a half months.Gazprom said in a follow-up statement that its gas exports to non…
Naftogaz Says British Court Grants Gazprom Asset Freeze in UK
Ukraine state oil and gas firm Naftogaz said on Tuesday a London court has granted its request to freeze the British assets of Russia's Gazprom, to enforce an earlier arbitration ruling from Sweden.That ruling, made by the Stockholm arbitration court in February, was meant to conclude a legal battle over gas deliveries.
Russian gas for Slovenia
A contract for supply of gas was entered into to between Russia and Slovenia today in Ljubljana. Gazprom entered with Slovenia. This new contract provides for annual supplies of 600 million cubic meters of gas by Gazprom from January 1, 2018 to January 1, 2023. Alexander Medvedev, Deputy Chairman of the Gazprom Management Committee, Elena Burmistrova, Director General of Gazprom Export, and Bostjan Napast, Chairman of the Management Board of Geoplin d.o.o. Ljubljana,…
China's Energy Giants Return to Asian LNG Market as Sellers
Falling industrial demand and mild weather have turned China's energy giants into sellers of liquefied natural gas (LNG) in Asia for the first time since last year's massive import spree. Chinese players were on the receiving end of last year's doubling of LNG prices, largely driven by their rapid shift to gas to combat coal smog as well as elevated regional demand for the fuel. Although a CNOOC executive last week warned producers not to expect a similar payday in 2018, industry executives said they were not unduly concerned by the blip, saying Chinese demand would continue to grow.
LNG Rebounds as Asian Buyers Replenish Inventory
Interest for prompt spot cargoes still keen; demand could roll over to April. Asian spot liquefied natural gas (LNG) prices rebounded this week as persistently cold weather in North Asia forced buyers to enter the spot market to replenish inventory. Spot prices for March <LSG-AS> delivery in Asia climbed 40 cents to $10.60 per million British thermal units (mmBtu) this week, according to several LNG traders in Asia. Cargoes for delivery in the first half of March are trading…
ADNOC Inks 15-year Gas Sales Agreement with Dubai
Abu Dhabi National Oil Co (ADNOC) signed a 15-year gas sales agreement on Tuesday with the Dubai Supply Authority to supply the city's natural gas needs, a statement from the company said. The deal replaces a similar agreement signed in 1998, from which ADNOC built the Taweelah–Jebel Ali pipeline and the first gas deliveries from Abu Dhabi to Dubai followed in 2001. The agreement was signed at ADNOC's headquarters by the company's CEO and the managing director of the supply authority. Reporting by Aziz El Yaakoubi
