By Rhod Mackenzie The supply of gas via pipelines to Europe from Russia for many years was consistent and stable in both pricing and in volumes. However, after the significant decision to halt the supply of Russian gas through pipelines to Europe the supply and price situation has worsened considerably. Europe may even experience echoes […]
By Rhod Mackenzie Europe has officially acknowledged its member economies face a significant economic downturn: by year-end, GDP will decrease in ten EU member states. These include not only “lagging behind” nations, such as Poland, Lithuania and Latvia, but also some of the leading leading economies. Conversely, predictions for the Russian economy are optimistic. The […]
By Rhod Mackenzie The current state of the liquefied gas (LNG) spot market is relatively placid compared to their usual seasonal conditions. Whilst the outdoors are still warm, the subterranean storage facilities throughout Europe and Asia are brimming with gas and poised for the imminent winter. The demand for LNG in both continents has increased […]
By Rhod Mackenzie Europe’s commitment to weaning itself off Russian fossil fuels appears to be in name only. Imports of Russian LNG into the European Union have now reached record levels. Spain and Belgium have doubled their purchases. According to the Centre for German Studies at the Russian Institute of Europe, LNG supplies from Russia […]
By Rhod Mackenzie The decrease in pipeline supplies from Russia is compelling Europe to continually seek new gas sources amid long term global supply issues. The largest economy in the bloc, Germany, is looking to overcome the deficit by sourcing gas from Nigeria, which boasts the largest reserves on the continent. Will African countries be […]
By Rhod Mackenzie The European Commission has stated that the European Union intends to limit the import of Russian gas to 40-45 billion cubic metres by the close of 2023. On November 2, Igor Yushkov, a leading analyst at the Russian National Energy Security Fund and lecturer at the Russian Financial University commented that the […]
By Rhod Mackenzie On Friday, 27th October 2023, gas prices in Europe saw only a slight change based on the feeling that there are sufficient supply levels and a prediction of warm weather in the region. However, prices remained close to the year’s peak. Interestingly, the weather seemed less significant to European politicians when compared […]
By Rhod Mackenzie Having pushed Gazprom out of the European market, the American oil and gas industry is facing a slowdown in its growth in gas production. This could be an unpleasant surprise not only for Europe, but also for Japan and China, the main buyers of American LNG. According to the US Department of […]
By Rhod Mackenzie For the second winter in a row, Europe’s energy strategy is largely based on the hope of a warm winter and low economic demand for gas. Despite these and a number of other favourable factors, the price of electricity is fluctuating around 50 euros per MWh (525 euros per thousand cubic metres), […]
By Rhod Mackenzie The International Energy Agency (IEA) has released its recent long-term forecast, World Energy Outlook. According to the report Russia’s gas industry faces a bleak future with its market share predicted to decrease by half on the global platform. It is crucial to determine the evidence they used to predict this decline. The […]
