gas price

Pressure on Europe to secure alternative gas supplies increased on Thursday as Moscow imposed sanctions on European subsidiaries of state-owned Gazprom a day after Ukraine stopped a major gas transit route. Gas prices surged, with the key European benchmark gaining 12% as buyers were unsettled by the mounting threats to Europe's supply, given its high dependence on Russia.
  • May 15, 2022
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The EU believes it can phase out dependence on fossil fuels from Russia well before 2030. To do so, the Commission has proposed a REPowerEU plan that will increase the resilience of the EU-wide energy system. A key aspect of this plan details the importance of diversifying gas supplies via higher levels of biomethane. 
  • May 11, 2022
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Gazprom has written to its European customers to reassure them that they can continue to pay for gas without breaching sanctions. This comes after European Commission proposed a total ban on Russian oil imports to the European Union.
  • May 11, 2022
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In a much-awaited report, the EU Agency for the Cooperation of Energy Regulators (ACER) delivered its conclusion on the role played by wholesale electricity markets in the ongoing energy price crisis, exacerbated by Russia’s war in Ukraine. The report states: “Whilst the current circumstances impacting the EU’s energy system are far from ‘normal’, ACER finds that the current electricity market design is not to blame for the current crisis”.
  • April 30, 2022
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Poland’s state gas giant, PGNiG said yesterday that it was gradually restoring the flow of natural gas to municipalities that lost it after a Russian company halted supplies in response to Poland's sanctions over Russia's invasion of Ukraine. The supply cut was a separate development from Russia's decision earlier this week to stop gas deliveries to Poland.
  • April 30, 2022
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The International Group of Liquefied Natural Gas Importers (GIIGNL), an international liquefied natural gas body has appealed to governments to help mitigate fuel price spikes and promote new LNG developments to secure a stable global supply. The Paris-based group, whose members account for more than 90% of global LNG trade, issued a statement a day earlier after a meeting of its executive committee, saying governments should provide protection mechanisms to reduce the exposure of LNG importers and consumers to potential procurement cost increases.
  • April 17, 2022
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