In the week ending October 4, Brent oil futures in the ICE market experienced notable fluctuations. The Front Month futures hit a weekly low of $71.77 per barrel on September 30 before rebounding to a high of $78.05 per barrel by Friday, marking an 8.4% increase and the highest price seen since late August. This […]
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The first exploratory drilling in the Eastern Mediterranean is projected to commence between late 2025 and early 2026, according to Greek Environment and Energy Minister Theodoros Skylakakis. He made this announcement during the “East Mediterranean Gas Forum” meeting held in Athens. Skylakakis emphasized the increasing significance of the Eastern Mediterranean region for European energy security
Greece: Exploratory drilling in Eastern Mediterranean to start by 2026 Read More »
Algeria and Slovenia have signed several cooperation agreements, one of which involves enhancing Algeria’s gas exports to Slovenia. Slovenia’s largest gas supplier Geoplin and Algeria’s state-owned energy company Sonatrach signed an annex to their gas supply contract under which Algeria’s natural gas supply to Slovenia will increase by an additional 200 million cubic meters per
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Fitch Ratings has assigned Romanian Romgaz a first-time ‘BBB-‘ Long-term Issuer Default Rating (IDR) with a Stable Outlook. Romgaz’s ‘BBB-‘ rating benefits from a one-notch uplift from its ‘bb+’ Standalone Credit Profile (SCP) for state support, as per our Government-Related Entities (GRE) Rating Criteria. The SCP reflects Romgaz’s dominant position in Romania’s natural gas market,
Romania: Fitch assigns Romgaz ‘BBB-‘ Rating Read More »
The Energy Community Secretariat published its opinion on the certification of Nomgas, the gas transmission system operator of North Macedonia. The opinion largely supports the certification of Nomgas in line with the Energy and Water Services Regulatory Commission of the Republic of North Macedonia’s (ERC) preliminary decision. In its opinion, the Secretariat recommended that, in the
North Macedonia: The Energy Community approves Nomgas as TSO Read More »
Accordin to AleaSoft Energy Forecasting, TTF gas futures in the ICE market for the FrontMonth, in the fourth week of May continued with the price increases initiated in the last sessions of the previous week. On Monday, May 20, they registered their weekly minimum settlement price, €31.77/MWh, which was already 7.4% higher than the previous Monday.
Europe: TTF gas futures exceeded 34 euros/MWh in week 21 Read More »
The REPowerEU policy has done well so far in its aim of ending Europe’s dependency on Russian fossil fuels by 2027. The target of a 15% reduction in gas use, compared to the average consumption between April 2017 and March 2022, was exceeded in both 2023 and 2024. The Commission has again set the same
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The German utility group E.ON is “exploring the option” of selling the electricity and natural gas supply operations in Romania because the risk-return ratio is deteriorating due to frequent changes in the energy capping scheme, announced Leonhard Birnbaum, E.ON’s CEO, speaking on the occasion of the Eurelectric Power Summit 2024 in Athens on May 21.
Romania: E.ON explores options to sell the Romanian energy supply business Read More »
Fitch Ratings has assigned Romanian Romgaz a first-time ‘BBB-‘ Long-term Issuer Default Rating (IDR) with a Stable Outlook. Romgaz’s ‘BBB-‘ rating benefits from a one-notch uplift from its ‘bb+’ Standalone Credit Profile (SCP) for state support, as per our Government-Related Entities (GRE) Rating Criteria. The SCP reflects Romgaz’s dominant position in Romania’s natural gas market,
Romania: Fitch assigns Romgaz ‘BBB-‘ Rating Read More »
The operator of the Greece-Bulgaria natural gas pipeline, ICGB, launched the binding phase of market testing for expanding the pipeline’s capacity from 3 to 5 billion cubic metres annually. In collaboration with natural gas transmission system operators, ICGB has published notices for the binding phase to gauge market interest in booking the pipeline’s incremental capacity,
