Trump announces that the US will increase its military sales to India and eventually provide F-35 Jets
Donald Trump, the U.S. president, said that the United States would increase its military sales to India beginning in 2025. It will also eventually provide F-35 jet fighters. "We will increase military sales to India many billions dollars." Trump told reporters that we're also clearing the path to eventually provide India with F-35 stealth aircraft. Trump didn't provide a timetable, but it usually takes years to complete foreign military sales. This is especially true for cutting-edge technologies like the stealthy F-35.
Gas funded by the EU brings light back to a separatist region in Moldova
On Monday, authorities in Moldova's separatist Transdniestria began heating apartments during winter conditions after a month-long power cut. The European Union funded the resumption of natural gas flows. Transdniestria - which separated from Moldova after the Soviet Union ended - relied on Russian Gas passing through Ukraine. But Kyiv refused a transit agreement beyond the new year, claiming it funded Moscow's almost three-year old invasion. The first 3 million cubic meters (mcms) of natural gases were shipped by Moldovan energy firm Moldovagaz to the Russian-backed separatist region on Saturday.
Two Russian sources claim that Saudi Arabia and the UAE are possible locations for a Trump-Putin meeting.
Two Russian sources familiar with the discussions said that Russia is considering Saudi Arabia and the United Arab Emirates as potential venues for a meeting between U.S. president Donald Trump and Russian president Vladimir Putin. Trump said that he would end the conflict in Ukraine as quickly as possible, and that he was ready to meet Putin. Putin congratulated Trump for his election, and said he was ready to meet Trump in order to discuss Ukraine and Energy. Russian officials have denied that they had direct contact with the U.S. regarding preparations for an upcoming phone call between Trump, and Putin.
Data shows that Russia's gas exported via TurkStream reached a record high in January.
The TurkStream pipeline has allowed Russia to export natural gas via Ukraine at a record-breaking rate of 50 million cubic meters (mcms) per day in this month, according to preliminary calculations released on Friday. After a transit agreement between Moscow and Kyiv that had been in place for five years expired on January 1, the only way to get Russian gas into Europe is through Turkey. The data of the European Gas Transmission Group Entsog revealed that Russian gas exports through TurkStream jumped 26.8% in one year. They now stand at 50.6 mcm/day, up from 39.9mcm/day in January 2024.
Six US LNG cargoes diverted to Europe by LNG traders
Analysts and shipping data indicate that traders diverted six cargoes of LNG bound for Asia into Europe in the first half of this month due to higher European prices, and weaker Asian demand. Weather forecasts indicate lower temperatures for northwest Europe. Data from analytics firm Kpler revealed that the vessels were loaded in America and initially headed for China, South Korea Thailand and Singapore. Between Jan. 8-14, the vessels changed course in the Atlantic Ocean and were destined for Europe.
The US sanctions against Russia have caused a spike in global diesel prices
Analysts and LSEG data indicate that global diesel prices and refinery margins increased following the latest round U.S. sanctions against Russia's oil market on the expectation of tightening supplies. On Jan. 10, the United States imposed their toughest sanctions yet against Russian producers and tanks to reduce the revenue of the No. 2 oil exporter in world. The United States used the revenue of Russia's No. 2 oil exporter to fund its war in Ukraine. Many of the newly targeted vessels, which are part of a shadow fleet, were used to transport oil to India and China.
Hungary will increase its gas exports to Slovakia starting April
The transmission system operator FGSZ announced on Tuesday that Hungary would increase its gas export to Slovakia from 2.63 billion cubic metres per year to 3.5 bcm by April. Hungary's decision to increase its export capacity to the north follows Ukraine refusing to renew a transit agreement with Russia, as it seeks a reduction in revenue that goes to Moscow for funding the war in Ukraine. The expiration of this deal has stopped a major route for Russian Gas to be shipped into Slovakia and Western Europe. Robert Fico, the Slovak prime minister, has threatened to take retaliatory actions against Kyiv.
EUROPE GAS-Prices increase on TurkStream news and wider supply concerns
Dutch and British wholesale prices of gas rose on Monday due to reports about attempted attacks on Russian pipelines, low levels of storage, new U.S. energy sanctions and forecasts that the weather will be colder and less windy. LSEG data shows that the benchmark front-month contract for the Dutch TTF Hub was up 1.78 Euros at 47.19 Euros per megawatt hour, or $14.11/mmBtu by 1021 GMT. The British front-month rose 6.82 pence to 120.07 p/therm. The Dutch day-ahead rate was 1.77 euros higher at 47.60 euro/MWh while the British equivalent increased 7.50 pence to 122.00 pence/therm.
Bulgaria claims Azerbaijan has stopped gas supply until January 11
Bulgargaz EAD, the Bulgarian gas state company, has received notification that Azerbaijan suspended gas supplies to Bulgaria for unspecified reasons from January 7 to 11. Bulgargaz reported that Bulgargaz has sourced replacement gas volumes from Botas in Turkey. The company said that it did not incur additional costs to replace the natural gas, nor did the outage affect the market for natural gas in the area. A source in the industry said that "an issue" was at BP's Alpha Platform at the Shah Deniz Gas Field.
Bulgaria claims Azerbaijan has stopped gas supply until January 11
Bulgargaz EAD, the Bulgarian gas state company, has received notification that Azerbaijan suspended gas supplies to Bulgaria for unspecified reasons from January 7 until January 11. Bulgargaz reported that Bulgargaz has sourced replacement gas volumes from Botas in Turkey. The company said that it did not incur additional costs to replace the natural gas, nor did the outage affect the market for natural gas in the area. A source in the industry said that "an issue" was at BP's Alpha Platform at the Shah Deniz Gas Field. BP Azerbaijan didn't respond to a comment request immediately.
The Moldovan President visits the area affected by blackouts and blames Russia's Gazprom
On Thursday, the Moldovan president Maia Sandu visited areas that were experiencing rolling power outages and blamed Russian Gas giant Gazprom. The energy crisis in the pro-Russian enclave of Transdniestria is a result of this. Dmitry Peskov, Kremlin spokesperson in Moscow, said that Moldova and Ukraine are responsible for the power and heating shortages. The foreign minister of Finland met with officials in both government-controlled Moldova and the separatist enclave and pledged to help both sides achieve a settlement. Transdniestria has been receiving Russian gas for over 30 years.
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. This month, energy company OMV also ended its agreement with Gazprom after a dispute with the Russian firm. Markus Krug is the deputy head of E-Control's gas department.
Newspaper: Turkey wants to collaborate with Syria on oil and gas to supply power to Syria
Alparslan Bayraktar, the Energy Minister, was quoted as saying on Friday that Turkey wants to strengthen Syria's power infrastructure and provide electricity. Ankara could also work with Syria’s new leadership in oil and natural gas. After supporting the Syrian rebels that toppled Bashar al-Assad after a 13 year civil war this month, Turkey has emerged to be one of the major power brokers in the southern neighbor and has pledged to help rebuild the nation. Ankara, one of the earliest countries…
Oil Rises on China Stimulus Hopes, US Inventory Drop
Oil rose almost 1% on Thursday in thin holiday trade driven by hopes for additional fiscal stimulus in China, the world's biggest oil importer, and supported by an industry report showing a decline in U.S. crude inventories.Chinese authorities have agreed to issue 3 trillion yuan ($411 billion) worth of special treasury bonds next year, Reuters reported on Tuesday, citing two sources, as Beijing ramps up fiscal stimulus to revive a faltering economy.Brent crude futures rose 48 cents, or 0.7%, to $74.06 a barrel by 1445 GMT. U.S.
Hungary: US exemption of gas payments from Russia Gazprombank sanctioned
In a video on social media, Hungarian Minister of Foreign Affairs Peter Szijjarto stated that the United States had granted exemptions for gas payments from the sanctions they imposed against Russia's Gazprombank. The U.S. implemented sanctions against Gazprombank in November, creating a barrier for European gas buyers. Gazprombank was used by buyers to pay for their purchases. Hungary, which relies primarily on Russian oil, gas and other energy sources, requested an exemption from the U.S. These countries, including Turkey and Slovakia, are seeking clarifications and alternatives to pay for the U.S.
NW Europe Fuel oil Imports at 3-year High
A rush to replenish scarce supply of high-sulphur fuel oil (HSFO) pushed Northwest European imports of residual fuel oil to their highest in three years in November, analysts told Reuters.The Amsterdam-Rotterdam-Antwerp (ARA) area, Europe's main trading and refining hub, received around 450,000 barrels per day (bpd) of all types of fuel oil in November, the highest monthly volume since November 2021.That compared with an average of 332,000 bpd over January-October this year, according to trade…
Hungary declares that the issue of Russian gas payments has been resolved
Hungary's foreign minister announced on Friday that it had found a way to pay for Russian gas via the Turkstream pipe from Bulgaria, while avoiding the U.S. sanction. He did not provide any details about the agreement. The U.S. On Nov. 21, creating a barrier for European gas buyers. Gazprombank has been used by buyers to pay for their purchases, including a currency conversion scheme to roubles. Turkstream, which runs through Bulgaria from Turkey, is the main pipeline used by Hungary to receive its Russian gas, 7 billion cubic meters so far in this year.
Moldova declares a state of emergency when the risk of Russian gas being cut off looms
The Moldovan parliament voted on Friday morning to declare a state of national emergency lasting 60 days, starting Dec. 16, due to the expected interruption of Russian gas supply on Jan. After Prime Minister Dorin Recean's request for approval, 56 members of the 101-seat chamber approved the measure just after midnight. He said that the vote was to stop "gas blackmail" by Moscow. Declaring an emergency allows the government respond quickly and reduce energy exports. Ukraine has announced that it will not be extending its transit contract with Russian Gas giant Gazprom. The contract expires December 31.
Turkey talks with U.S. and Russia about sanctions waivers on energy imports
Turkish officials said that Turkey was in talks with both the United States of America and Russia to try and secure a waiver from U.S. Sanctions so it could continue paying Gazprombank in order to import Russian natural gas. The United States has imposed new sanctions against Russia's Gazprombank last week as President Joe Biden intensifies his efforts to punish Moscow for its invasion in Ukraine before he leaves the office in January. Turkey imports nearly all of its gas requirements and Russia is its top supplier, providing over 50% of its pipeline imports.
Russia's oil production in 2024 is expected to decline from 518-521 million T
Interfax news agency reported that Deputy Prime minister Alexander Novak said on Thursday that Russia will produce between 518-521 millions metric tons of oil (10.36-10.42million barrels per day). This amount is also expected in 2025. In September, he had predicted a production of 515-521 millions tons. In 2023, Russia produced 529,6 million tons of gas condensate, despite a reduction in supply due to an agreement with other OPEC+ members. Novak said that Russia also expects to increase its natural gas production by 2024-2025, thanks to increased exports to China.
