EU officials have indicated their intention to seek a price cap on Russian gas alongside other measures to curb negative fallout from Russia's war on Ukraine, despite criticism of such a move from inside the EU's Czech presidency and a Russian threat to halt supplies.
Russia set out just how much its gas flows to the global market will fall in the next three years. The numbers underscore the scale of the challenge facing Europe’s energy consumers.
Germany is pushing to secure liquefied natural gas contracts with Gulf producers to conserve energy, with Russian flows running at severely reduced levels as winter approaches.
Because Finland and the greater Nordic electricity market is increasingly connected and tied into Europe's market, price fluctuations are felt across borders. The price of electricity will rise in Finland, especially before the commissioning of the nuclear reactor Olkiluoto 3 and wind turbines expected to be completed at the end of the year.
France's National Assembly has approved measures to ensure security of gas supply which focus on the power sector, LNG and underground storage.
Despite gas supply returning to 67 million cubic meters per day (MMcmd) through the Nord Stream 1 pipeline, prices and sentiments in the gas market remain clouded in uncertainty. Uncertainty...