The recent spectacular increase in the UK wholesale natural gas price from less than 50 pence per therm in April 2021 to a peak of nearly 300 pence in October came as a complete surprise to everyone, including market traders engaged daily in buying and selling the commodity.
Nord Stream 2
The US imposed sanctions on a ship involved in the construction of the Nord Stream 2 gas pipeline as the Biden administration looks to exert more pressure on Russia without antagonising Germany.
Russia’s controversial Nord Stream 2 pipeline faces another delay after Germany suspended a key step in the approval process, sending European gas prices surging as much as 12%.
The chairman of the Oil and Gas Authority (OGA) has levelled an accusation at Russia over its role in the gas price crisis.
Gazprom has confirmed that it has completed construction of the Nord Stream 2 gas pipeline, while also moving ahead with plans for a new LNG plant.
Nord Stream 2 AG, the controversial gas pipeline project owned by Gazprom, lost a German court fight to sidestep European Union rules separating production from transportation, a decision that may delay the start of the operations.
Russia is stepping up work on the Nord Stream 2 pipeline before the US tightens sanctions against the controversial project designed to feed more natural gas into Germany.
Germany’s planned Wilhelmshaven regasification terminal is reconsidering import plans and may opt to shift to hydrogen.
President Donald Trump’s top energy official said he’s confident that Russia won’t be able to complete the Nord Stream 2 gas pipeline in the Baltic Sea -- and signalled that the U.S. will press forward with its opposition to the project.
Russia officially opened its TurkStream natural gas pipeline on Wednesday, further diversifying export routes to Europe amid a backlash from the U.S.
Russia and Ukraine have agreed to continue sending gas through Ukraine to Europe for five years.
Oil and gas companies face an increasing risk of government investigations and significant financial penalties if they do not take appropriate steps to comply with international sanctions measures.
Several gas-producing provinces in Europe have confirmed a worrying trend.
In February 2019, the EU amended the Gas Directive to extend its scope to apply to pipelines from third countries to the EU. The proposal has primarily targeted Nord Stream 2, a pipeline which would bring Russian gas to Germany bypassing Ukraine and other former Soviet states. The pipeline has been under construction across the Baltic Sea since August 2018.
For our European neighbours, there are other big issues around apart from Brexit.
President Vladimir Putin has said that Russian gas supplies to Europe via Ukraine may continue even after the launch of a prospective Germany-bound pipeline under the Baltic Sea.
A production cap on the earthquake-stricken Groningen gas field proves the need for Europe’s controversial Nordstream 2 pipeline, according to a leading analyst.
Shell is among a group of five energy companies who have agreed to stump up funding for the Nord Stream 2 project.
US Vice President Joe Biden has said the US believes the Nord Stream 2 pipeline is a "bad deal" for Europe.
A consortium of Gazprom and five European allies has withdrawn its application to set up a Polish joint venture to build the Nord Stream 2 pipelines in the Baltic Sea.