Engie buys DNO's Norwegian gas production for four years
The Norwegian company DNO announced on Wednesday that it had sold all of its gas production from the Norwegian continental shelf over a period of four years to French utility Engie at an undisclosed price. The deal was facilitated by an American bank loan, as U.S.
Engie buys DNO's Norwegian gas production for four years
DNO sold all of its gas production from the Norwegian continental shelf over a period of four years to French utility Engie, for an undisclosed amount. It said that a U.S. loan facilitated the deal, as U.S. banks increase funding for the fossil fuel sector.
Prices for gas in Europe hit a 1-week high due to tight supply and EU's Russian Gas Ban Plans
The Dutch and British wholesale prices of gas rose by more than 6% Tuesday, reaching their highest level in over a week. Unplanned outages as well as European plans to phase-out Russian gas supplies boosted sentiment.
The price of gas in Europe has risen to a record high for a week due to increased demand and the Norway gas outage
The wholesale gas prices in the Netherlands and Britain rose on Tuesday morning as the weather in Norway was cooler and less windy, and the market tightened. Meanwhile, the need to fill gas storages continued to support the price.
Hammerfest LNG Plant in Norway will be closed for maintenance from July until August
Equinor announced that its Hammerfest LNG Terminal, Europe's biggest liquefied gas export facility, was shut down on Tuesday for planned annual maintenance. According to a regulatory document, the maintenance outage,…
Equinor's new Arctic Oilfield will pay off $8 billion investment within 2 years
Equinor said that its Johan Castberg oilfield, located in the Arctic Barents Sea, began production Monday, after several delays. The company expects to recoup the 86 billion Norwegian crowns ($8.14 billion), which it paid for the field, in less than two year.
Prices for EUROPE GAS remain stable as the storage needs continue to support them
Dutch and British wholesale prices for gas were slightly higher on Monday morning, but are expected to be more volatile this week due to the milder weather being offset by the necessity to replenish storages as peace in Ukraine is still elusive.
German power prices are boosted by mixed wind signals
German spot power prices for Tuesday were more than twice as high as the French equivalent contract at the start of trading on Monday. This is because wind power supplies are down in Germany, but increasing in France. Demand in the entire region has also increased.
Prices of gas in Europe drop ahead of Trump-Putin call
Dutch and British wholesale prices for gas eased Tuesday morning, as the market awaited news of a possible peace agreement between Russia and Ukraine. However, low storage levels are still a concern while weather forecasts remain mixed.
Spot prices rise due to lower German solar power
The European spot electricity prices for Wednesday increased on Tuesday, as the German solar power shortage was expected to be greater than gains from wind power and lower demand. German day-ahead electricity gained 1.2% at 0912 GMT to 125.75 Euros per Megawatt Hour.
DNO buys Sval Energi in cash for $450 mln, enhancing North Sea portfolio
Norwegian oil group DNO announced on Friday that it had agreed to purchase rival Sval Energi Group, which is focused on the North Sea from private equity group HitecVision. The cash consideration was $450 million based on a $1.6 billion enterprise value.
Prices for gas in Europe fall as storage targets are extended and temperatures rise
The Dutch wholesale gas price fell on Wednesday afternnon amid warmer temperatures. In addition, the European Commission announced a two-year extension to winter storage targets. However, it signaled flexibility regarding interim targets.
German contracts benefit from rising gas and carbon prices
German power contracts for the year ahead rose Monday in line with higher gas contracts as well as carbon permits. The German power price for the year ahead was up 2.5% to 87 Euros ($90.55). Analysts at Energi Danmark…
Equinor's Arctic Johan Castberg Oilfield delayed by weather
A spokesperson for Equinor said that the start-up of oil production at Equinor’s Arctic Johan Castberg Field has again been delayed due to bad weather. Castberg will become the second oilfield to come on stream in the…
Equinor Norway LNG plant will be off-line March 10-14
According to a Friday regulatory filing, Equinor will shut down its Hammerfest LNG Terminal from March 10 through March 14 to perform "corrective maintenance". This will reduce the daily production capacity from 18.4 millions cubic metres to zero.
As demand falls and wind output varies, the market is lulled.
The market untraded the German and French power prices for Sunday on Friday, as it weighed an anticipated rise in German wind power and a decline in French output against general drops in demand. LSEG data shows that…
EUROPE GAS - Prices rebound on technical purchases and strong demand
The Dutch and British wholesale gas market rebounded Thursday on technical buying and strong demand. According to LSEG, the benchmark front-month contract for the Dutch TTF Hub was up by 2.00 euros, at 43.40 Euros per megawatt hour, or $13.33 / mmBtu at 0909 GMT.
Spot prices are mixed as German winds set to fall
On Tuesday, the European spot electricity prices for Wednesday were mixed as it was expected that wind power production would fall in Germany but increase in France. German power for the day ahead increased by 0.9% at 0930 GMT to 137.75 Euros per Megawatt Hour.
On Monday, expect a higher German wind output
German and French power prices were not traded on Friday for the Monday. German wind power is expected to increase against a decline in average demand across the region. LSEG data shows that the German and French baseload…
EUROPE GAS - Prices stable amid ample supply and milder weather
The European and British gas contract prices were mostly unchanged on Friday, despite the milder weather forecast. Supplies from Norway and LNG are also steady. There is still uncertainty about future Russian gas supplies in the event of a peace agreement with Ukraine.
