Gazprom and Moldovan ministers to meet to discuss power supply
The Moldovan energy minister announced on Friday that he will meet with Russian gas giant Gazprom in St. Petersburg, Russia next week to ensure stable power supplies following Russian attacks on the energy systems in Ukraine. Victor Parlicov warned that systematic strikes against Ukraine's electricity grid could cut off the country from a supply which had become reliable. The war in Ukraine has had a profound impact on the ex-Soviet Republic Moldova, which is one of Europe's most impoverished countries. Russian drone fragments have repeatedly fallen onto its territory.
Kremlin claims new U.S. Sanctions are an attempt by the U.S. to halt Russian gas exports
The Kremlin said on Friday that the new U.S. Sanctions on Russia's Gazprombank are an attempt by Washington, to hinder the Russian gas export. However, a solution will be found. Washington imposed new restrictions on Gazprombank Thursday, which prevent it from completing any new energy transactions that could affect the U.S. Financial System. It also banned its trade with Americans as well as freezing its U.S. Assets. Gazprombank, one of Russia's biggest banks, is owned in part by the Kremlin gas company Gazprom. Ukraine has been pressing the U.S.
Japan will take all necessary steps to ensure Sakhalin-2 LNG supplies from Russia.
Japan's Industry Minister Yojimuto announced on Friday that it will take every measure to ensure a steady supply of liquefied gas from the Sakhalin-2 Russian project in response to new U.S. Sanctions. Treasury Department announced that the United States had imposed new sanctions against Russia's Gazprombank, on Thursday. President Joe Biden is intensifying his efforts to punish Moscow for its invasion in Ukraine, before he leaves office at the end of January. Gazprombank, one of Russia's biggest banks, is owned in part by the Kremlin gas company Gazprom.
Axpo, a Swiss company, is looking at opportunities in Japan's power and LNG trading
Axpo, a Swiss power producer and trader, is looking at opportunities in Japan's electricity and liquefied gas (LNG), as the changes in Japan's power sector have created a demand for spot LNG and hedging. Japan has set an ambitious target of renewables accounting for 36%-38% of its total electricity mix by 2030. In 2016, the power market was liberalised, leading to a more liquid futures exchange for electricity. Marco Saalfrank is a member of Axpo’s management board. He said that Japan has nine different price zones.
EUROPE GAS prices hit an all-time high amid cold weather and supply concerns
Dutch and British wholesale prices for gas hit an intraday record on Thursday, amid concerns about the Russian storage and supply inventories falling below last year's levels and a forecast of cold weather. LSEG data show that the benchmark front-month contract for the Dutch TTF hub had risen 0.86 euros to 47.67 euros a megawatt hour at 1012 GMT. This was a new intraday high. The British day-ahead contract increased 2.15 pence, to 119.25 pence per thermo, the highest intraday levels since November 2023. Analysts at Engie’s EnergyScan stated in a morning report that "concerns about EU gas stock...
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. This was its highest level since November 24, last year.
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. It reached 46.35 euro/MWh intraday on Thursday, its highest intraday since November 24 of last year. The Dutch day-ahead contracts eased by 0.35 euro to 45.60 Euro/MWh.
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.
EUROPE GAS prices near a one-year high due to concerns about Russian supply and cold weather
The Dutch and British wholesale gas prices reached their highest intraday levels in almost a year on Thursday, amid concerns about Russian gas supply. Austrian energy group OMV said that an award of over $243 mln for irregular German gas supplies by Gazprom may impact its Gazprom gas supply agreement. The benchmark front-month contract for the Dutch TTF hub increased by 1.71 Euros at 45.38 euro per megawatt hour at 0903 GMT. This was its highest intraday value since November 27 last year. The Dutch day-ahead contracts added 1.72 Euros at 45.45 euro/MWh. This is its highest intraday value since November 24.
Ifx: Russian Energy Minister says lifting the gasoline export ban is possible
Interfax reported that Russian Energy Minister Sergei Tsivilev stated on Wednesday the ministry believes it is possible to lift restrictions regarding gasoline exports due to fuel prices being stable. According to RIA, the Ministry sent its proposals regarding gasoline export restrictions to the Government. The minister said, "We will lift export restrictions now because the prices are stable and the situation on market is stable. In August, Russia extended the gasoline export restriction until the end the year. In 2023, the top three gasoline producers in Russia will be Lukoil NORSI in Nizhny Novgorod, Rosneft and Gazprom's Omsk.
Prices for gas in Europe fall amid profit-taking but remain near the year high
The Dutch and British wholesale price fell on Tuesday morning due to profit-taking, but they remain at their highest levels so far this season as temperatures dropped. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub fell 0.60 euros to 43.30 Euro per megawatt hour or $13.48/mmbtu at 0918 GMT. The Dutch day-ahead contracts dropped 0.35 euros to 43.50 Euros/MWh. The British day-ahead contracts fell by 0.50 cents to 110.00 pence per therm. In a daily report, Engie EnergyScan analysts said that some participants in the financial market who hold long positions might decide to sell their positions.
Rosneft denies reports that 'evil Sechin’ plans to takeover Russian oil giants
Rosneft is Russia's largest oil company. It denied any reports that it was planning to take over a large chunk of the Russian Oil Sector. They said these reports were an attempt to portray its CEO, Igor Sechin as a bad influence. The Wall Street Journal reported on Russia's plans to merge Rosneft with Gazprom, Lukoil and Lukoil. This would result in one of the most powerful oil companies in the world. Rosneft released a statement regarding the reports, which it called "false-flags". The company said that the reports portrayed CEO Sechin as the "Evil Sechin", and falsely implied "Igor Sechin’s insidious intents".
EUROPE GAS-Prices firm as temperatures drop
Dutch and British wholesale price rose on Monday morning due to the colder weather forecast. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub rose by 1.00 euros to 43.15 Euro per Megawatt Hour (MWh), which is $13.51/mmbtu by 0921 GMT. The British day-ahead contract increased by 3.00 pence to 109.15 cents per therm. The trader said that although wind power generation is also expected to decline, the recent price increase still looks overdone. He said that for UK contracts, 109.00 per therm was a technical high, which offered some resistance.
WSJ reports that Russia is exploring a plan to merge Rosneft, a Gazprom subsidiary, and Lukoil.
The Wall Street Journal reported that Russia is working on plans to merge Rosneft oil, a state-backed company, with Gazprom, creating the second-largest crude oil producer in the world. The newspaper reported that executives and government officials have been in talks over the last few months. A deal could or might not be reached, it said, citing unidentified sources familiar with the issue. The report said that a combination of Rosneft with Gazprom Neft - a subsidiary owned by Gazprom and Lukoil - would rank second only to Saudi Arabia's Aramco, and could pump nearly three times the output of U.S. oil company Exxon.
Gas prices in Europe rise on cold weather forecast
Dutch and British wholesales prices increased on Friday morning. They reached their highest level in over a week due to the expected cooler and less windy conditions in Europe. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub gained 0.85 euro to 42.45 Euro per Megawatt Hour (MWh), which is $13.41/mmbtu by 0949 GMT. This is the highest level of the contract since October 29. The TTF day-ahead contracts rose further by 1,35 euros, to 42.40 Euros/MWh. The British day-ahead contracts was up 3.35 cents at 107 cents per therm.
EUROPE GAS - Prices rise due to colder weather and wind; attention on Trump
Dutch and British wholesale gas prices increased on Thursday morning due to colder weather and low winds, but uncertainty remains over the impact of the U.S. Donald Trump presidency on the global market. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub increased by 0.28 euros to 41.00 Euro per megawatt hour (12.92/mmbtu) or 12.92 euros per megawatt (MWh) at 0941 GMT. The British December contract increased by 1.98 pence, to 103.5 pence/therm. Meanwhile, the day-ahead contract rose 0.70 pence and was now 103.1 pence/therm. The temperature forecasts have been lowered to just below normal seasonal levels.
The future EU energy chief says he will speed up the end of Russian gas imports
Dan Jorgensen wants to end the EU's dependency on Russian fossil fuels as soon as possible, he said at a Tuesday parliamentary hearing. Ursula von der Leyen, President of the European Commission, has given Jorgensen the task to lower energy prices in order to restore Europe's competitiveness as an industrial powerhouse. She also wants to decarbonise Europe's economy and stop the remaining Russian energy imports. In the next few weeks, he is expected to receive confirmation of his new position. "We have a problem, our industry suffers." "They are paying twice or three times more for energy than in the U.S.A.
Data shows that Russian LNG exports in Jan-Oct are up by 6%.
LSEG data on Friday showed that Russia's January-October LNG exports increased by 6% compared to a year ago, reaching 26,4 million metric tonnes. Just over half of these were shipped to Europe. The data show that the October supply rose 10% over September, to 2,97 million tons. This is a record monthly volume for this year. The data for September was revised to 2.7 millions tons, down from the originally reported 2.81million tons. In the first ten months of this year, Europe imported around 13,4 million tons of Russian exports. The last month's supplies to Europe were 950,000 tons.
Minister says Turkey regional gas hub will be operational by 2025
The Turkish Energy Minister said that Turkey and Russia are currently in talks to reach a deal for a hub in Istanbul. This hub could start operating in 2025.The Turkish government, which announced its intention to become a hub for gas by increasing imports and exports is currently negotiating deals with both producers and consumers.In an interview published by the Turkish newspaper Milliyet on Friday, Energy Minister Alparslan Bayraktar stated that "we have established a strong infrastructure" for a trading…
EUROPE GAS - Prices drop amid mild temperatures and solid supply
The Dutch and British wholesale prices of gas fell on Thursday morning, as temperatures were above normal for this time of the year and supplies remained stable. LSEG data shows that the benchmark front-month contract for the Dutch TTF hub fell 0.87 euros to 40.35 euros per Megawatt Hour (MWh), which is $12.84/mmbtu at 0915 GMT. The Dutch December contract (which will become the front month contract on November 1) dropped 0.87 euros, to 40.75 Euros/MWh. The British day-ahead contracts fell by 1.05 pence, to 99.45 p/therm. In a daily report, Auxilione stated that "Temperature Forecasts for the Coming Days are Above Seasonal Normal.
