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☆ European gas prices jump 50% in June
▼ + stars: | 2023-06-16 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

Prices reversed course mainly because of longer-than-expected maintenance outages at key gas plants in Norway, analysts told CNN. “The recent price rally shows just how sensitive the European market is to disruption,” said Bill Weatherburn, a commodities economist at Capital Economics. European natural gas prices are still far below their levels last summer, when the continent found itself locked in an energy standoff with Russia following Moscow’s invasion of Ukraine. The field is one of the biggest in the world but now accounts for just a fraction of Europe’s gas supply. “The European gas market — and by extension the global gas market — [is] certainly not out of the woods in terms of adequately matching supply with demand,” Tom Marzec-Manser, head of gas analytics at ICIS, told CNN.

Persons: ”, Bill Weatherburn, Tom Marzec, ” Massimo Di Odoardo, Wood Mackenzie, ” Henning Gloystein, Di Odoardo Organizations: London CNN, Benchmark, Independent Commodity Intelligence Service, CNN, Capital Economics, European Union, Gas, Gas Infrastructure, Wood, Eurasia Group, Norway “ Locations: Norway, Russia, Ukraine, Moscow, Europe, Netherlands, Groningen, “, Gas Infrastructure Europe, Japan, South Korea, Asia, Russian

☆ Europe throws ignition cars a thin lifeline
▼ + stars: | 2023-03-28 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

Bowing to pressure from automaking Germany, the European Union has agreed to exempt cars that run on carbon-neutral synthetic fuel from a ban on new combustion engine vehicles in 2035. loadingFor mass-market brands, electric cars will likely remain the cheapest option. RBC industry analysts expect electric and plug-in hybrid vehicles to make up 90% of Western European passenger vehicle sales by 2035. Yet, it will do little to stop the hollowing out of Europe’s combustion engine supply chain. The deal paves the way for EU ministers to approve the 2035 phaseout law for CO2-emitting cars on March 28.

☆ EU power rejig may only solve tomorrow’s problem
▼ + stars: | 2023-03-14 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

That would have risked stifling green electricity production, which is cheaper, by culling the profit margin producers by design enjoy in the EU structure. To make Europe less dependent on volatile fossil fuel prices requires installing more green energy power. The approach is not as market-friendly as fixed-price, subsidy-free power purchase agreements, which last year only made up 1% of total power generation. The risk of a resurgence of the European energy crisis, however, is all skewed to the near term. PPAs currently only cover 1% of total European Union electricity generation, according to data provider Independent Commodity Intelligence Services.

☆ Europe's natural gas prices fall below €50
▼ + stars: | 2023-02-17 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

London CNN —Europe’s natural gas prices have tumbled to their lowest level in nearly 18 months in the latest sign the region has avoided a much-feared energy crisis. Benchmark wholesale gas prices fell almost 5% Friday to hit €49 ($52) per megawatt hour, their lowest level since September 2021 and a fraction of the all-time high of €320 hit in August last year, according to data from Independent Commodity Intelligence Service. The plunge in prices will further reduce the risk of a recession in Europe. Gas stores across the European Union were 65% full on Thursday, according to Gas Infrastructure Europe, an industry body. The bloc has also boosted imports of pipeline natural gas from Norway, and of liquefied natural gas (LNG) — a chilled, liquid form of gas that can be transported via sea tankers — mostly from the United States and Qatar.

☆ European gas savings success hides darker reality
▼ + stars: | 2023-01-27 | by ( Lisa Jucca | ) www.reuters.com time to read: +4 min

But success in saving gas hides a darker reality for European industry. In 2021 the European Union burned 412 billion cubic metres (bcm) of gas, European Commission data shows. Last year that figured dropped by around 50 bcm, the International Energy Agency estimates, equivalent to a 12% fall. European production of steel and aluminium, which is also energy-intensive, fell 10% in the first 10 months of 2022. In 2021, the bloc consumed 412 bcm of gas, European Commission data shows.

Ukrainian state energy firm Naftogaz said in a Tuesday tweet that “Gazprom accused Ukraine of stealing gas. Russia is also sending gas to Europe via the TurkStream pipeline that runs through Turkey to Bulgaria. If Russia halted exports through Ukraine, Europe would lose about 4 billion cubic meters of gas — or just 1% of its estimated gas demand for 2022 — between December and March, Filippenko said. The continent’s gas storage facilities are nearly 95% full, according to data from Gas Infrastructure Europe. In this context, a total shut off of Moscow’s pipeline gas through Ukraine would cause “minimal” damage, Filippenko said.

☆ Russia's war has helped accelerate the energy
▼ + stars: | 2022-10-27 | by ( Anna Cooban | ) edition.cnn.com time to read: +3 min

In its annual World Energy Outlook report, published Thursday, the agency said that Russia’s assault on Ukraine had the potential to “hasten” the global transition to clean energy sources. Since the war broke out in late February, many countries have shunned Russia’s vast energy exports, finding new suppliers and ramping up imports of alternate energy sources. That has put Moscow in a “much-diminished position,” the IEA said, and Russia is on course for its share of global energy exports drop to 13% by 2030 from 20% last year. Europe — Moscow’s biggest customer for oil and gas — has borne the brunt of the energy crunch. “There is still a large gap between today’s pledges and a stabilization of the rise in global temperatures around 1.5°C,” the IEA warned.

☆ Europe now has so much natural gas that prices just dipped below zero
▼ + stars: | 2022-10-26 | by ( Anna Cooban | ) edition.cnn.com time to read: +4 min

London CNN Business —Europe has more natural gas than it knows what to do with. Now, EU gas storage facilities are close to full, tankers carrying liquefied natural gas (LNG) are lining up at ports, unable to unload their cargoes, and prices are tumbling. The price of benchmark European natural gas futures has dropped 20% since last Thursday, and by more than 70% since hitting a record high in late August. Prices turned negative because of an “oversupplied grid,” Tomas Marzec-Manser, head of gas analytics at the Independent Commodity Intelligence Services (ICIS), told CNN Business. The bloc has ramped up imports of LNG from the United States and Qatar as natural gas imports from Russia plummeted.

☆ Europe has enough energy to survive the winter. Next year might be different
▼ + stars: | 2022-10-13 | by ( Anna Cooban | ) edition.cnn.com time to read: +8 min

Cornelius Poppe/NTB/AFP/Getty ImagesBut success has come at a heavy cost to the economy: the scramble for alternative sources has sent energy prices soaring. Alexei Miller, CEO of Russian state energy giant Gazprom, said on Wednesday that there was “no guarantee” that Europe would survive the winter with its current reserves. “Adopting policies that prevent the pass-through of high energy prices to consumers is an expensive gamble that is doomed to fail if wholesale energy prices will stay high in the future,” he added. Carlos Torres Diaz, head of power analysis at Rystad Energy, told CNN business that Europe’s energy transition “has been put on hold” as it prioritizes energy security. “These sources of energy also help reduce the dependency on energy imports,” Torres Diaz added.

☆ Rocketing energy costs are savaging German industry
▼ + stars: | 2022-10-07 | by ( Anna Cooban | ) edition.cnn.com time to read: +9 min

“We don’t need a crystal ball to see a further weakening of German industry in the coming months. The full impact of higher energy prices will only be felt in the last months of the year,” he said. Energy prices started rising last fall, and then shot even higher when Russia invaded Ukraine in late February, sparking an energy standoff between Europe and Moscow. Energy costs at Prysmian’s six German factories are expected to soar to €20 million ($20 million) this year from just €5 million ($5 million) in 2021. “German industry, the so-called ‘Mittlestand’, the small and medium [sized] companies, are quite resilient and adaptable,” he said.

☆ Газовые реформы в Украине меняют Молдову и всю Восточную Европу
▼ + stars: | 2020-10-27 | by ( Super User | ) mybusiness.md time to read: +5 min

Некоторые восточноевропейские страны пытаются повторить все то, что сделал Киев, а другие - воспользоваться возможностями, которые появились в результате украинских изменений, пишет unian.net. Некоторые из них были связаны с тем, что отдельные страны не могли перейти с централизованной на дерегулированную экономику. Интересным примером автор называет Молдову, которая еще несколько лет назад была полностью зависимой от импорта российского газа. Некоторые из них были связаны с тем, что отдельные страны не могли перейти с централизованной на дерегулированную экономику. Так же, как и Украина год назад, Молдова пытается отобрать у "Молдовагаза" функции контроля над ГТС и создать отдельного оператора - "Молдоватрансгаз".

Persons: unian.net, Аура Сабадус, Молдовагаз, Сергей Макогон Organizations: Atlantic Council Independent Commodity Intelligence Services, УНИАН, Молдовагаз, Газпром, Оператор ГТС, ГТС, Молдоватрансгаз, Нафтогаз Locations: Киев, Восточная Европу, Россия, Москва, Украина, Молдова, Кишинев, ЕС, Трансбалканский, Румыния, Балканский регион, Западные Балкан, Каспийский регион

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