Prices for EUROPE GAS continue to fall as the warm weather continues curb demand
The Dutch and British gas price continued to fall on Thursday as the warmer weather continues reducing demand. Meanwhile, the market is watching the impact of Trump’s "Liberation Day tariff plan". LSEG data shows that the Dutch front-month contract fell 0.89 euros to 40.60 Euro per Megawatt Hour (MWh), or $12.80/mmBtu at 0827 GMT. The Dutch day-ahead contracts was down by 1.05 euros at 39.95 Euro/MWh. The British day-ahead contracts was down 1,70 pence to 98.80 per therm.
Data shows that Russia's LNG imports fell by 1.2% year-on-year in the first quarter of 2018.
LSEG's preliminary data on Tuesday showed that Russia's LNG exports in the first quarter of this year fell by 1.2% compared to a year ago, reaching 8.1 million metric tonnes. Due to U.S. sanctions over the invasion of Ukraine, Russia has been unable to increase its LNG exports. The new Arctic LNG 2 facility has effectively been frozen due to the Western sanctions. According to two sources, Arctic LNG 2 resumed processing in the last month. According to LSEG, Russia's exports of LNG rose 3.7% in March, from 2.7 millions tons a year earlier.
Sources say that the White House is considering an executive order to speed up deep-sea mines.
Two sources who are directly involved in the White House's deliberations say that they are considering an executive order which would expedite permits for deep sea mining in international waters. This would allow mining companies to bypass a United Nations review process. The order, if signed, would be the latest effort by U.S. president Donald Trump to tap into international deposits of nickel and copper, and other essential minerals that are widely used across the economy, after recent efforts made in Greenland, and Ukraine.
Prices for EUROPE GAS remain stable as the storage needs continue to support them
Dutch and British wholesale prices for gas were slightly higher on Monday morning, but are expected to be more volatile this week due to the milder weather being offset by the necessity to replenish storages as peace in Ukraine is still elusive. LSEG data shows that the Dutch front-month contract rose 0.60 euros to 41.00 euros per Megawatt Hour (MWh), which is $13.01/mmBtu by 0850 GMT. The contract for the month of May, which is now the front-month was increased by 0.81 euros at 41.40 euro/MWh.
German power prices are boosted by mixed wind signals
German spot power prices for Tuesday were more than twice as high as the French equivalent contract at the start of trading on Monday. This is because wind power supplies are down in Germany, but increasing in France. Demand in the entire region has also increased. By 848 GMT on Tuesday, the German baseload electricity for that day was priced at 97.50 euro ($105.58). The French power for that same day was priced at 45 euros/MWh. On Friday, neither contract was traded for delivery on Monday.
Slovak SPP: Gazprom will increase gas supply through TurkStream in April
The CEO of Slovak importer SPP Vojtech Ferencz, who spoke to reporters on Monday, said that Russia's Gazprom would substantially increase its gas supplies to Slovakia via the TurkStream pipe from April. SPP reported last month that Gazprom started supplying gas again to Slovakia at the start of February using volumes donated by Hungary for the TurkStream pipeline. SPP said last month that volumes were expected to double in April but did not specify amounts.
Prices for EUROPE GAS remain stable despite the latest Sudzha gas stations attack
The Dutch and British wholesale prices of gas were mostly unchanged on Friday, as the recent attacks on a Russian supply point were offset by an improved outlook for supply-demand as winter comes to an end. LSEG data shows that the Dutch front-month contract rose 0.17 euro to 41.17 euros per Megawatt Hour (MWh), which is $12.99/mmBtu by 1104 GMT. The Dutch day-ahead contracts was down by 0.10 euros at 40.90 Euro/MWh. The British day-ahead contracts rose 0.52 pence, to 98.50 pence/therm.
EUROPE GAS - Prices stable but weather and low storage could support.
The Dutch and British wholesale prices of gas were mostly stable on Friday morning, despite the mild weather. However, a forecast for a cooler climate next week as well as the need to replenish storages in the coming months will continue to support the price. LSEG data shows that the Dutch front-month contract rose 0.10 euros to 41.10 Euro per megawatt hour or 12.98/mmBtu at 0914GMT. The Dutch day-ahead contracts was down 0.50 euros at 40.50 Euro/MWh. The British day-ahead contracts rose by 0.02 pence, to 98.00 p/therm.
Vucic: Serbia will lose access to oil imports when the deadline for sanctions looms.
Serbia may lose access to essential oil imports as of Friday, after discussions to stop the imposition by the United States of sanctions on its sole oil refinery failed. President Aleksandar Vucic stated this in an interview published. The waiver of sanctions expires at midnight. If it is not extended, NIS, which is owned by Russia's Gazprom and Gazprom in majority, may face a reduction in crude oil supply. NIS is the sole oil refinery in Serbia, with a capacity of 4.8 millions tons per year. This facility covers most of Serbia's energy requirements.
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. sanctions and EU sanctions has led to the question of what will happen to the disputed assets which were affected by international sanctions. This includes both Russian assets located in Europe as well as assets owned by foreign companies in Russia.
EnQuest pays its first dividend after a swing to an annual profit
EnQuest, a North Sea oil producer, declared its first ever final dividend of 15 million dollars on Thursday. The higher oil prices helped to boost the company's annual profit after tax. The shares of the London listed energy group rose by 3.4% at 13.8 pence as of 0830 GMT after it announced that it would pay its first dividend of 0.616 penny per share in June. It reported a profit after tax of $93.8 millions for 2024. This follows a loss of $30.8 million the year before.
Australia pours billions into missile procurement amidst global shortages
Australia's plans for developing its own missile component capability will likely be slowed by the Ukraine war and increased European defense spending, even though it is pushing ahead with a multi-billion dollar effort to purchase long-range attack missiles. Last year, Prime Minister Anthony Albanese committed A$74 billion (46.68 billion dollars) for missile acquisition. This included A$21 billion towards the establishment of a Guided Weapons and Explosive Ordnance Enterprise.
EUROPE GAS - Prices fall on mild temperatures and energy attack pause
The Dutch and British gas price fell on Wednesday morning, as the mild temperatures reduced gas demand. Meanwhile, the U.S. made deals with Russia and Ukraine to stop attacks against energy targets and at sea. LSEG data shows that the Dutch front-month contract fell by 0.15 euros to 40.97 euros per Megawatt Hour (MWh), or $12.96/mmBtu at 0917 GMT. The Dutch May contract is down 0.75 euros at 40.95 Euro/MWh. On ICE, the British day-ahead contract fell by 0.80 pence to 99p/therm.
Russian central bank expects low oil prices to continue for a while
The Russian central bank warned Kremlin policymakers that the United States and OPEC could flood the oil markets and cause a similar price collapse to what occurred in the 1980s, which led to the fall of the Soviet Union. The warning was issued weeks before Russian President Vladimir Putin and U.S. president Donald Trump began negotiations to end the conflict in Ukraine. Trump warned that he would impose additional sanctions against Russia if a peace agreement was not reached. He has also promised to increase U.S.
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. The plan, which EU member states and legislators must approve, is facing resistance from governments who are concerned that the rules will inflate the price of gas.
The price of gas in Europe is falling amid mild temperatures and ceasefire talks with Ukraine
Dutch and British wholesale prices of gas fell on Monday morning, as temperatures remained mild. Meanwhile, U.S. officials and Russian officials were in Saudi Arabia for talks to discuss possible ceasefires in Ukraine. LSEG data shows that the Dutch front-month contract fell by 1.13 euros to 41.47 Euro per Megawatt Hour (MWh) or $13.22/mmBtu by 0907 GMT. The Dutch May contract is down by 0.85 euros at 41.60 Euro/MWh. The British front-month contracts was down 1,65 pence to 101.65p/therm. The weekend saw no significant geopolitical events.
UK stock prices fall on uncertainty over tariffs; Heathrow power failure disrupts airlines
British stocks ended lower on Friday due to continued concerns about the impact of U.S. Tariff policy. Meanwhile, a Heathrow Airport shutdown impacted travel stocks. The blue-chip FTSE 100 index fell 0.6%. The FTSE 250 mid-cap index fell 0.9%. The blue-chip index gained 0.3% despite the losses of the day. The mid-cap index ended four weeks of losses by rising 0.5%. Heathrow Airport in Britain said that it has begun the process to reopen after an electrical fire shut down the airport's power supply for the day.
Prices rise following reports of a strike at Sudzha Gas Metering Station
The Dutch and British wholesale prices for gas rose on Friday after reports of a striking at the Sudzha gas station, which was the point where Russian gas used to enter Europe via Ukraine. LSEG data revealed that the Dutch contract for Winter 2025 was up 1,93 euros at 43.35 Euros/MWh at 0830 GMT. The Dutch contract for front-month was also 1.70 euros higher at 44.55 Euros/MWh. The April contract in Britain rose by 3.97 pounds, to 108.32 cents per therm.
UK invests $260 Million on solar panels for hospitals and schools
GB Energy, a state-owned firm, will be leading a 200 million pound ($260) solar panel project to benefit hospitals and schools in Britain, the country announced on Friday. This is the first investment made by the company since its establishment last year, with the goal of lowering electricity bills. GB Energy, a key component of the Labour Government's plan to improve the public services in Britain as well as to help revive the British economy, was created in October in order to encourage investment in renewable energy.
Ukraine military cites reports in media on attack on gas station in Russia's Kursk Region
Ukraine's Military, citing media, reported an early Friday strike on a recently-closed gas pumping station and measuring station in west Russia's Kursk Region, where Ukrainian Forces have been under pressure for seven months following a border incursion. The incident was not reported by the government in Kyiv. The incident was not reported by the authorities in Moscow either. Sudzha station was the only place through which Russian gas passed to reach Europe via Ukraine until Ukraine refused to extend a transit agreement this January.
